BOWLING GREEN, Ky. (May 11, 2022) – The Inter-Modal Transportation Authority (ITA), an entity managed by the Bowling Green Area Chamber of Commerce, has been awarded a $500k grant from the Kentucky Cabinet for Economic Development (KCED). This half a million dollar award is the maximum amount that a community can receive, and it is the first time the ITA has been awarded these funds. The grant money will be matched by funds from the ITA and will be used to extend infrastructure to sites in order to prepare them for new and existing businesses to use.
“The economic momentum we are seeing in Kentucky does not happen without the resources, sites, and buildings to support companies looking to grow and expand in the commonwealth,” Gov. Beshear said. “With each investment and upgrade in our industrial sites across the state, we are ensuring future economic growth and sustainability. I congratulate the local leadership in Bowling Green and Warren County for their efforts to keep Kentucky moving forward.”
“This award is huge for our community as it will help bring over 600 acres of property to market in the newly-expanded areas of the Kentucky Transpark,” said Mike Buchanon, Warren County Judge-Executive. “Over the last several years, the County and City have made investments in the Transpark at a time when many communities were retreating due to the pandemic, but the fortitude of our community leaders to continue to invest in these future parcels enabled us to land award-winning projects such as Ball Corporation and Tyson Foods.”
This $500k grant awarded by KCED through the Kentucky Association of Economic Developers Product Development Initiative will provide utilities to sections of the Transpark that are not currently being served which will help create jobs for citizens as well as an investment in the economy.
“The Kentucky Transpark is a picture of collaboration and forward-thinking that is rare in many communities,” said Gary Dillard, Chairman of the ITA. “The Chamber team has the drive to work innovatively and do what’s needed—such as applying for grants like this one—to better position the community to land projects of the magnitude that we have been seeing.”
Infrastructure investments are a first step to creating shovel-ready parcels that enable the community to compete and win projects like Tyson Foods which will build over 400,00 square feet in the park to employ 491 people and Envision AESC who will build an approximately 3 million-square-foot Gigafactory and create 2,000 jobs. Combined, these two companies will double the size and employment of the Transpark with Envision representing the second largest project in Kentucky’s history.
“We are grateful to be awarded a grant of this magnitude by KCED so that we are able to invest in infrastructure to land projects that will improve the condition of the community as a whole,” said Todd Alcott, Mayor of the City of Bowling Green. “More available land means more future jobs for our residents and a stronger overall economy.”
“We have been blessed to welcome many world-renown companies to South Central Kentucky in recent months,” said Ron Bunch, President and CEO of the Bowling Green Area Chamber of Commerce. “It is through investing in the development of these properties that we are able to create prime locations that enable us to compete and win these large-scale projects that bring thousands of jobs and billions of dollars to the region.”
Year to date, the Bowling Green Area Chamber of Commerce has closed two economic development projects in South Central Kentucky, totaling $2.01B in capital investment that will create 2,000 new jobs in the region. Bowling Green was also recently recognized for the ninth consecutive year as one of the Top 6 Tier 2 Metros in the United States by Site Selection Magazine. The Chamber has also been awarded the Mac Conway Award and recognized as a Top 20 Economic Development Organization in the Country for its second straight year.
About the Inter-Modal Transportation Authority
The Inter-Modal Transportation Authority was incorporated in 1998 and is a non-stock, non-profit corporation. Its primary purpose is the design, promotion, and construction of the Kentucky Transpark, a multi-modal commerce and distribution center and industrial park in Warren County.
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 captured over four billion in capital investment, creating thousands of jobs within the region. To learn more please visit https://www.southcentralky.com/