KPDI: How a $100 Million Fund is Transforming Kentucky’s Economic Landscape

Ryder Brown • October 6, 2023

/ In a market where quality real estate is increasingly scarce, the Kentucky legislature is making a landmark investment that is set to change the game. Enter the Kentucky Product Development Initiative (KPDI), a $100 million initiative that aims to transform the state’s economic landscape by making it more appealing for businesses looking for "shovel-ready" sites.

What is KPDI and Why Was it Created?

Kentucky’s unprecedented growth in recent years, led by major projects from the likes of Ford and SK Innovation, has resulted in a shortage of quality real estate. KPDI is designed to combat this by offering matching grants up to $2 million per county for transformative projects. Funds are for transformative projects like property acquisition, infrastructure upgrades, and site preparation. This incentivizes local investment to enhance Kentucky's product.


👉 Quick Take:

  • Local governments and economic organizations are the main beneficiaries.
  • Matching grants encourage local investment, enhancing Kentucky’s economic appeal.

How Does the KPDI Application Process Work?

If you think getting a piece of the $100 million pie is easy, think again. The application process is cutthroat, with each proposal being scrutinized based on a range of factors including site viability, job creation potential, and developmental prospects. Moreover, only projects that are shovel-ready and can kick off within two months are given priority.


👉 Quick Take:

  • The application process is rigorous and competitive.
  • It’s all about strategic opportunities rather than guaranteed handout.

MWM's Role in KPDI

Navigating the complexities of the KPDI application process is no small feat, and that’s where we at MWM Consulting come in. With our deep understanding of the program’s intricacies and a finger on the pulse of what the selection committee is looking for, we help communities make the strongest case for funding.


👉 Quick Take:

  • MWM Consulting aids in crafting compelling KPDI applications.
  • Our expertise is crucial for securing these transformative dollars.

Investing in Kentucky's Future

So, what does KPDI mean for the future of Kentucky? In simple terms, it’s laying the foundation for sustained economic growth and competitiveness. By replenishing the site inventory, Kentucky is positioning itself as a hotspot for businesses looking to expand or set up new operations.


👉 Quick Take:

  • KPDI is a life-changing investment for Kentucky.
  • It aims to make the state more attractive for businesses, thereby ensuring future growth.

Closing

KPDI isn’t just another economic development initiative. It’s a statement of intent from Kentucky, a pledge to invest in its own future. By focusing on both the state and its local communities, KPDI is setting a new standard for economic development initiatives nationwide.


Reach out to MWM Consulting to find out how you can maximize your chances of securing KPDI funding. Contact us today.

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