City of Richmond Awarded Additional Industrial Grant

February 27, 2026

FOR IMMEDIATE RELEASE

The City of Richmond, Kentucky, is among 12 communities selected for further investment in available industrial sites in an announcement by Governor Andy Beshear on Thursday.

Adding to the momentum of current industrial growth, this is the third time Richmond has been awarded a Kentucky Product Development Initiative (KPDI) investment. This award follows on the heels of its previous award in August of 2025.

The KPDI provides funding for local communities to boost investment in site and building upgrades to support future, well-paying jobs and economic growth across the commonwealth. This month’s approvals include projects that will receive funding through the KPDI Program of 2024, as well as projects that will benefit from recaptured funds tied to the KPDI Program of 2022.

The Richmond Industrial Development Corporation is approved for $249,019 in providing an entryway to the property from Duncannon Lane.

“We appreciate the continued support from the Cabinet of Economic Development’s PDI program.  The city of Richmond will match this funding to design and build an entrance to our new 190-acre industrial park IV.  This new industrial park is positioned on Duncannon Lane with a four-lane highway that directly connects to I-75 and has all utilities needed for new industry.  I want to thank the Mayor and Commissioners for continuing to support Richmond’s Industrial Development Corporation,” said Richmond City Manager Rob Minerich.

Brad Sowden, Executive Director of the Richmond Industrial Development Corporation  added, “The Kentucky Product Development Initiative (KPDI) has been a game changer across the Commonwealth. I want to specifically thank our legislators who continue to fund this landscape-changing program. Without these funds, communities would not be financially able to develop investment-ready sites. Successful investments are those that can occupy land as quickly as possible.

“Speed to production is key to creating jobs and opportunities for our community. This award will allow us to provide industrial access to the acreage recently secured for our industrial park expansion,” said Sowden.

###