Central Kentucky Business Park Authority presents to Council Committee

In Tuesday, August 19th's Budget, Finance, and Economic Development (BFED) Committee, Councilmembers will hear an update from the Central Kentucky Business Park Authority.

The Central Kentucky Business Park Authority is a collaborative organization run by LFUCG, the Scott County Fiscal Court, and the Madison County Fiscal Court. It was created in 2024 to support a new business park in the City of Berea.

LFUCG will invest $2.1 million for the development of this park to attract new manufacturing jobs to Central Kentucky. Tax revenue earned from the park will be split evenly between the three governments that make up the Central Kentucky Business Park Authority.

The Berea site will be assessed over the next several months to determine exactly how much of the site is developable. The Business Park Authority will also apply for funding from the Kentucky Product Development Initiative (KPDI) and from the federal Community Project Funding (CPF) program to support development of the site.

The Authority is also pursuing the purchase of another potential business park site in northern Madison County. The 810 acre site is located between Exits 95 and 90A off I-75. The Business Park Authority will also be applying for KPDI and CPF funding this year to support the site.