Kentucky Governor Headlines Paducah Chamber Luncheon
Kentucky Gov. Andy Beshear touted western Kentucky’s economic wins, including those related to the river industry, as the keynote speaker for the Paducah Area Chamber of Commerce’s annual Public Policy Luncheon on January 13.
With $35 billion in private sector investment in the last five years and a record of more than 58,000 new jobs created, “We’re not looking at the same Kentucky anymore,” Beshear said.
He noted that the state had been ranked No. 2 and No. 3 in the nation in economic growth in the last couple of years.
“There is so much to be proud of, and what I love is that we did it by working all together,” he said.
About 300 people attended the lunch, held on the stage of the Carson Center in downtown Paducah.
Beshear said western Kentucky has some of the best sites for development in the state, including the location of a planned expansion of the Paducah-McCracken County Riverport Authority at a greenfield site at Ohio River Mile 944. The site is 9 river miles west of the Paducah-McCracken County Riverport Authority, located in the downtown Paducah area at Tennessee River Mile 1.3-2.0, near where the Tennessee empties into the Ohio River.
Through its industrial development authority, the Greater Paducah Economic Development Corporation (GPEDC) owns or has optioned about 800 acres of property, expandable to 1,000 acres, immediately adjacent to the planned riverport on what is known as the Ohio River Triple Rail Site. It has been widely marketed to investors.
Beshear mentioned development of the site in his speech, saying, “I’m not a patient person, but I promise you it’s going to happen.” He added that it is being viewed by a lot of companies.
GPEDC Executive Director Bruce Wilcox welcomed the governor, noting that over the past five years Paducah and McCracken County have seen job growth double that of the national average. In addition, the growth over the past five years exceeded that seen in the preceding 10 years.
With the help of state partners, Wilcox said investment in the community has included $16 million for a new road to the triple rail site, with construction expected to begin in the next few months; $3.5 million appropriated for environmental, geotechnical and engineering design work for the Riverport West expansion; and $160,000 to the riverport through the Port Infrastructure Development Program, for rehabilitating mooring cells at its existing site.
Beshear presented large cardboard checks for previously awarded state funds, including $500,000 to extend sewers at the triple rail site and $3.5 million for Paducah’s riverfront redevelopment, which includes a riverboat excursion pier and plaza.
The state funding for the riverfront redevelopment supplements a $10.4 million federal grant awarded in 2019, which no longer covers the cost of the project due to increases in material and labor costs.
