Somerset gets state grant for road project to boost new business park
Road and utility infrastructure for a more than 140-acre business park in Somerset is being built with the help of a state grant.
Earlier this July, the Somerset-Pulaski Economic Development Authority said it will receive approximately $1.35 million from the Kentucky Product Development Initiative for its Commerce Park.
The money is in addition to a $500,000 grant for the authority’s Commerce Park from the same program in 2024 and an almost $1.6 million grant in 2023. Those awards from the state built an intersection at the park’s entrance and got eight sites up to build-ready standards.
Road projects are anticipated to alleviate traffic congestion brought to the area by industry as it moves into the park that is near the Valley Oak Commerce Complex. The 150-acre industrial park is home to warehousing, as well as logistics and distribution centers.
Some acreage at Valley Oak not suitable for industrial use is under construction to make way for affordable housing.
Chris Girdler, the president and CEO of the authority, said the commerce park is the community’s first in three decades.
The state’s continuous support over the past three years “speaks volumes about the park’s potential,” he said.
Girder said build-ready sites increase the speed at which prospective buyers might enter the market. According to the Kentucky Cabinet for Economic Development, a build-ready site allows companies to bypass red tape because zoning is taken care of, environmental issues have been resolved, utilities have been extended, roads are accessible and construction can begin immediately.
In its summer impact report, the authority’s leadership team said it’s working to cement itself as one of the state’s “leading areas for business investment and expansion.” The report says in the past six years, it’s had more than $500 million in new and existing business investment in local power plant projects, bourbon barrel production and in the technology sector.
The Commerce Park is on what was the Garner property in Somerset’s Pine Hill and Barnesburg Road areas. In 2020, the Kentucky National Guard said it would build a regional readiness center and field maintenance shop on 18 acres in the park.
the authority has since sold an additional 11 acres to a private developer that has plans to build a retail complex in part of the park facing Kentucky Route 80, according to the authority.
Kentucky Product Development Initiative provides funding to communities across the state to invest in site and building upgrades that are likely to support more well-paying jobs and economic growth. The initiative is a collaboration between the Cabinet for Economic Development and the Kentucky Association for Economic Development.
The initiative’s funding round that concluded this year supported 90 projects that were approved for a combined $85 million. Including local contributions, those projects generated over $512 million to the state’s buildings portfolio, the state said July 11.
After this summer’s round of funding was announced, Terri Bradshaw, president and CEO of the Kentucky Association for Economic Development, said the money “represents a powerful investment in the future of our communities — enhancing our competitiveness, strengthening local economies and accelerating job creation across the commonwealth.”
When the Commerce Park had some of its sites declared as build-ready certified by the state, Somerset Mayor Alan Keck said he was looking forward to how it would change the community.
“Providing Build-Ready sites to enhance new business investment is another important step in our holistic economic development strategy, one that is centered around quality of life and quality of place,” Keck said.
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