Graves County Economic Development is awarded KPDI round 1

Graves County Economic Development (GCED) announces that a 120,000 sq. ft. spec building will be constructed in the Hickory Industrial Park. The $890,670 investment was made possible by the Kentucky Product Development Initiative (KPDI) in which a competitive grant award was given to economic development organizations and local governments selected for the purpose of site development and improvement throughout the Commonwealth of Kentucky. PDI is made possible by a dual partnership effort between the Kentucky Cabinet for Economic Development, the Kentucky Association of Economic Development (KAED) and the $100 million product development fund the state created in 2022. The Governor was in Mayfield on August 31, 2023, where he presented the check to Graves County Economic Development.

The project will include the development of a 120,000 sq. ft. building on 12.4 acres in the Hickory Industrial Park. The building will have a 32’ ft clear ceiling height, 150 parking spaces, 13 loading docks and 2 grade level doors. Construction of the site has begun, and the building is expected to be completed by November of 2024.

The project is in partnership with a local Developer who was selected through an open bid process and assessed by third party consultants. Waldrop and Waldrop LLC., who has been in commercial, industrial, and residential development for over 100 years will be the partner on this newly constructed facility.

Tom Waldrop was grateful to be a part of this first ever opportunity.

“It is quite an honor to be part of the first ever public-private partnership with Graves County Economic Development. In a few months, we hope to expand a local employer or attract a new employer to confirm that this partnership was the right idea. I appreciate the confidence the community leadership and the Board of Directors has placed in our firm.”

With this project being a first of its kind in Graves County; a partnership and shared investment between a local developer and the economic development organization, new doors and opportunities have been opened.

Judge Executive Perry said, “after the first KPDI award was such a success in attracting Osmundson Mfg. Co., this second round of funding should provide more opportunities for new industry. With the growth Graves County has been seeing, another tool in the tool belt is a great asset to our community.”

Mayor Kathy O’Nan enjoys watching the new opportunities in the community develop.

“The growth Mayfield and Graves County will experience within our communities and the Industrial Park because of this award will be remarkable and will continue to set the standards of our recovery. We are grateful for the continued commitment of the Commonwealth for the investments into local economic site developments and for their trust in GCED to be a good steward of funding for these opportunities.”

Jason Lemle, president of Graves County Economic Development is looking forward to constructing this facility and allowing Graves County further business attraction opportunities.

“It is great to see collaboration like this in Graves County. Working with the state, our local businesses, and Graves County fiscal court to see this project become a reality is a huge step for our community. This building will create new job opportunities and give the state further product for their site selection searches.”

Graves County Economic Development began in 1981, becoming the driving force behind expansion and development opportunities in the community. We support over 44 existing targeted businesses that employ over 2,300 employees and their families. It continues to foster strong relationships with existing businesses and attracts new industry to grow in Graves County.