Central KY regional business park plan is back. But it’s in a new location.
A regional effort to start a Central Kentucky multi-county regional business park has been revived.
Fayette, Scott and Madison counties want to join Berea in creating a new park in Madison County.
A similar effort to create a regional business park in Georgetown died after the Georgetown City Council voted in late October against an inter-local agreement to create a park after many Georgetown residents told the council they did not want it.
That proposed park was on 500 acres on agricultural land in Scott County.
On Thursday, the Lexington-Fayette Urban County Council approved an inter-local agreement creating a new authority overseeing the new business park. Lexington will give $2.1 million toward the creation of Central Kentucky Business Park Authority, which would oversee the park.
Scott and Madison Fiscal Courts and Berea City Council also approved the inter-local agreement this week, Lexington city officials said.
Berea Industrial Development Authority owns the Menelaus Industrial Park that is the potential site for the multi-county industrial park. The authority will sell the land to the newly created Central Kentucky Business Park Authority, according to Berea city officials.
Kevin Atkins, chief development officer for Lexington, said the property under consideration is 180 acres in the Berea Industrial Park. That property is already zoned for a business park and is surrounded by other industrial property, Atkins said.
The total costs for the new park have not yet been determined.
Lexington will receive about 33% of all taxes generated from businesses that locate in the new park
This story was originally published December 4, 2024 at 7:57 AM.
