Bowling Green, KY., April 6, 2021 – Bowling Green and Warren County have issued a $46.5M bond to help pay for the expansion and development of the Kentucky Transpark by the Inter-Modal Transportation Authority (ITA). The initial Kentucky Transpark was comprised of approximately 700 acres and serves as home to 19 private companies and 3 educational facilities that employ over 2,600. This bond will pay for the development of more than 400 acres, a portion of which was recently acquired by the ITA. Preliminary geotechnical work and Phase I ESA necessary to prepare the acreage for further development have already been completed, so the property can be effectively marketed for further economic development success.
“The Kentucky Transpark has been wildly successful and supports over 7,000 jobs in our community directly and indirectly. Investing in the park’s development ensures that we can support the expansion of existing businesses and serve new businesses who want to grow in this thriving ecosystem,” said Warren County Judge-Executive Mike Buchanon.
The expansion of the Transpark and issuance of the $46.5M bond are already bearing fruit for our community. Currently, private companies are adding more than 1,000,000 SF in new space within the Kentucky Transpark. In early 2021, Ball Corporation announced they will invest over $300M to build over 500,000 SF and employ nearly 200 people. They are located close to CROWN Cork and Seal, which was the largest investment by a new manufacturer in Kentucky during 2020. They are building over 300,000 SF with their $147M investment and hiring more than 120 people.
Additionally, a new road, Prosperity Lane, connecting the original Transpark to the expansion property is nearly complete. Production Avenue, which will bring access and service to the majority of the Transpark’s expansion is on track to be done this summer. Investing in additional property for economic development during a pandemic stands as a laudable testament to the leadership of Bowling Green and Warren County to drive economic recovery forward in the South-Central Kentucky region.
“The Bowling Green Area Chamber of Commerce has a robust business expansion and attraction strategy, and we have received a great deal of interest by businesses considering a location in the Kentucky Transpark expansion area. Developing this acreage will allow us to have a high-quality product that is ready to occupy for companies that want to establish operations quickly,” said Bowling Green Area Chamber of Commerce President & CEO Ron Bunch. “The new property will include a wide variety of site options for businesses, including rail access and substantial utilities.”
Investing in the Kentucky Transpark builds on the significant positive return on investment enjoyed by our community. The total economic impact of the Transpark is over $7.3B. Companies located there have invested over $944M in their facilities and employ more than 2,600 in the park, supporting an additional 4,141 jobs in the community. Included in the $7.3B economic impact is over $164M in annual spending. Of that, $35.4M is spent on mortgages, pensions, and savings, $13.6M at grocery stores, $12M on utilities, $9M on insurance, $8.9M is spent buying vehicles, $8.7M at restaurants, $3.4M on entertainment, and $2.3M on medical services. As additional businesses select the Transpark for their growth, the economic impact will grow, driving a better quality of life for citizens in our 10-county South Central Kentucky region.
“Bowling Green has a diverse economy with businesses who have invested in our community, many of them located in the Transpark. I applaud the decision of fellow city and county leaders to continue investing in development so that our existing companies, and new ones, can expand with ease,” said Mayor Todd Alcott.
“We have seen recent investments in the Kentucky Transpark and Transpark expansion by companies like CROWN Cork and Seal, Dollar General, Nova Steel, and Ball Corporation. It is an honor to lead economic development efforts in a community that is willing to invest in enhancing our ability to recover and grow our economy. With the Transpark expansion property, we will have exceptional sites for a variety of businesses to grow in our community,” said Bunch.
Year to date, the Bowling Green Area Chamber of Commerce has closed three economic development projects totaling $312.6M in capital investment which will generate 504 new jobs for 2021. Bowling Green was recently recognized by Site Selection magazine as a top tier-2 metropolitan area in the United States and was selected as a “Top 100 Best Places to Live” city by Livability, in addition to being ranked as the second-best city in the United States for manufacturing by Global Trade Magazine.
To learn more about land available in the Kentucky Transpark, contact Bowling Green Area Chamber of Commerce President & CEO Ron Bunch, CEcD.
About South Central Kentucky Economic Development
South Central Kentucky Economic Development is an entity of the Bowling Green Area Chamber of Commerce, a nationally ranked 5-Star Accredited Chamber. Located at the center of a 34-state distribution area in the eastern United States, South Central Kentucky is a prime location for manufacturing and distribution facilities. South Central Kentucky is within a day’s drive of 60% of the nation's population, personal income, and manufacturing business establishments. Bowling Green ranks second in the United States for best manufacturing city. In the past decade, the region has over $2B in capital investment, creating thousands of jobs within the region. To learn more please visit https://www.southcentralky.com/.
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