Officials from Caldwell County, Crittenden County, the office of Governor Andy Beshear and other interested parties erased municipal and political lines Wednesday morning in Princeton’s Industrial Park Wednesday morning — celebrating a rare joint effort in unveiling a 100,000 square-foot speculation building that’s turn-key ready for the next prospective company.
Made possible through a lofty $4 million award from Kentucky’s Product Development Initiative grant system, and another $4 million in a local 50% match, Caldwell County Judge-Executive Kota Young noted this is their first entirely new construction in the Industrial Park since 1998.
The last two builds, he said, are now occupied by Hydro-Gear, and hope only brims for the future of this industrially-ready site.
Built by Hartz Construction of Owensboro and financed by Planters Bank of Hopkinsville and Clarksville, Young said the effort would not have been possible without the collaborative efforts from the Princeton City Council, Caldwell County Fiscal Court and IDA Board of Directors, as well as Crittenden County officials willing to enhance the scope of the grant application.
Crittenden County Judge-Executive Perry Newcom said the union between Marion, Princeton and everything in between “just made sense” — and that “a county line should not be a limiting factor toward any positive project.”
Before introducing Rocky Adkins, Beshear’s senior advisor, Princeton Mayor Brock Thomas also acknowledged the sprawling effort required to land, and complete, the building.
Adkins, meanwhile, visited in Beshear’s stead — just a few weeks after passing through for a campus visit.
The economic potential of this spec building, Adkins said, is almost incalculable.
Young confirmed that his office will be filing a third KPDI grant application this fall, and that alongside the coming first new apartment complex in 22 years — 60 safe, affordable units — another is quickly being sought.
Furthermore, Young said Spec Building No. 5 is going across the street from this one, and “No. 6 and No. 7 ain’t far behind.”
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