Graves County Economic Development is awarded Kentucky Product Development Initiative Round 2 Grant

Graves County Economic Development (GCED) will expand the Hickory Industrial Park to the west and develop a 500,000 square foot pre-graded build-ready pad. This was made possible through the Second Round of the Kentucky Product Development Initiative (KPDI), which is a competitive grand award that is available to economic development organizations and local governments across the commonwealth.  KPDI is made possible through a partnership between the Kentucky Cabinet for Economic Development (KCED), the Kentucky Association for Economic Development (KAED), and a product development fund created by the state in 2022. 

The 500,000 square foot pre-graded, build-ready pad will be located on a 50-acre site on Hickory Road, which will be widened to industrial standards for logistical support of the future tenant’s transportation needs. Utilities will be extended to the site going alongside Hickory Road to service the power, water, sewer, and gas needs of the future tenant’s facility.

The planning for this project was completed by Bacon Farmer Workman Engineers who has also worked with GCED on other site development projects, such as the earthwork to develop the speculative building project currently underway in the Hickory Industrial Park, which was made possible through the $890,670 awarded by KPDI round 1. GCED is working with Waldrop & Waldrop, LLC for the construction of the building in the first ever public-private partnership in the history of GCED. This building will be available for a tenant to create new jobs and provide new investment for Mayfield and Graves County.

Graves County Judge Executive Jesse Perry expressed his support of KPDI round 2 and is excited about opportunities for new jobs in Mayfield and Graves County. 

“KPDI has provided great opportunities to create jobs that help our community prosper, with the previous awards being used to attract Osmundson which is expected to create 80 new jobs and to construct a spec building in the Industrial Park that will provide additional jobs and investment. Now this round helps to expand the Industrial Park and provide a new site for business recruitment that will create new jobs to help our community to grow and thrive.”

The kickoff round of KPDI funded the grading of a pad in the Hickory Industrial Park that allowed the attraction of Osmundson Mfg. Co. to come to Graves County. They are currently constructing their facility and are expected to finish the construction this fall. Osmundson is expected to invest $12.5 million.

City of Mayfield Mayor Kathy O’Nan expressed her gratitude for the partnership that made KPDI partnership and the role that the grants will have in helping the economy of Mayfield and Graves County recover.

“An earlier round of KPDI made the great attraction of Osmundson possible and we are so happy to have them here. I remember fondly when Heather Bruce, their CEO, came to Mayfield and Graves County for their groundbreaking ceremony, and how honored I was to welcome them here. It’s so great that they’re joining us to provide jobs and investment into the community. We are equally as excited for this new round of KPDI which will grow our bustling industrial park.” 

The project will add new land to the Hickory Industrial Park, as nearly every developable tract is now either occupied by a current Industrial Park partner or under development. Previous rounds of KPDI were both used on Industrial Park tracts to help build it up to its capacity. With that capacity now met, we must expand the industrial park in order to attract new jobs and investment.

GCED President Jason Lemle is looking forward to this site’s development and what opportunities it can provide for Mayfield and Graves County.

“This is the first expansion of the Hickory Industrial Park, and it is made possible through so many different people and organizations working together. Thanks to the state, our local governments, and the business and industry in Mayfield and Graves County who each have made the development of this site possible. The pre-graded, build-ready pad, the road widening, and the utility extension provides an attractive site for businesses that will provide jobs and investment to Mayfield and Graves County, Kentucky.”

GCED has received KPDI round 2, after receiving two previous grants: the first one in the initial launch of KPDI and the second grant through round 1 which followed it. We are thankful for the support that Graves County has received from the KCED, KAED, and the Kentucky Economic Development Finance Authority that helps us to build up our economy and promote quality of life in Mayfield and Graves County.

About Graves County Economic Development

Graves County Economic Development began in 1981, becoming the driving force behind expansion and development opportunities in the community. It continues to foster strong relationships with existing businesses and attracts new industry to grow in Graves County. There are 44 industrial businesses in Graves County that employ 2,300 people in the community.