(Picture Source: Madisonville Hopkins County Economic Development Corporation/Facebook)
Officials with the Madisonville-Hopkins County Economic Development Corporation announced some big news for the city’s industrial growth on Thursday.
Madisonville-Hopkins County has been awarded $340,000 in state funding to help prepare for the next industrial site for future development.
According to local economic development officials, the funding is provided through the Kentucky Product Development Initiative, a statewide economic development program designed to help communities prepare land for future job-creating projects. They stated that the funds are specifically allocated to make industrial sites “shovel-ready” for new industries and can be used to cover expenses such as land acquisition, environmental studies, and utility planning, allowing companies to build quickly once they choose a location.
The investment will support Phase 1 of a three-phase project at Madisonville Industrial Park II — a 72-acre rail-served site with a CSX Select Site Silver designation.
Officials noted this is the second site they have advanced in just 18 months, helping keep the community competitive and prepared for growth when companies seek new locations for expansion.
