Bowling Green and Warren County Expand the Kentucky Transpark by Issuing Over $46M in Bonds
BOWLING GREEN, Ky., April 13, 2021 (GLOBE NEWSWIRE) -- Bowling Green and Warren County have issued a $46.5M bond to help pay for the expansion and development of the Kentucky Transpark by the Inter-Modal Transportation Authority (ITA). The initial Kentucky Transpark was comprised of approximately 700 acres and serves as home to 19 private companies and 3 educational facilities that employ over 2,600. This bond will pay for the development of more than 400 acres, a portion of which was recently acquired by the ITA. Preliminary geotechnical work and Phase I ESA necessary to prepare the acreage for further development have already been completed, so the property can be effectively marketed for further economic development success.
“The Kentucky Transpark has been wildly successful and supports over 7,000 jobs in our community directly and indirectly. Investing in the park’s development ensures that we can support the expansion of existing businesses and serve new businesses who want to grow in this thriving ecosystem,” said Warren County Judge-Executive Mike Buchanon.
The expansion of the Transpark and issuance of the $46.5M bond are already bearing fruit for our community. Currently, private companies are adding more than 1,000,000 SF in new space within the Transpark. Additionally, Production Avenue, which will bring access to the majority of the Transpark’s expansion will be complete this summer. Investing in additional property for economic development during a pandemic stands as a laudable testament to the leadership of Bowling Green and Warren County to drive economic recovery forward in the South-Central Kentucky region.
“Developing this acreage will allow us to have a high-quality product that is ready to occupy for companies that want to establish operations quickly,” said Bowling Green Area Chamber of Commerce President & CEO Ron Bunch. “The new property will include a wide variety of site options for businesses, including rail access and substantial utilities.”
“Bowling Green has a diverse economy with businesses who have invested in our community, many of them located in the Transpark. I applaud the decision of fellow leaders to continue investing in development so our existing companies, and new ones, can expand with ease,” said Mayor Todd Alcott.
To learn more about land available in the Kentucky Transpark, please visit https://www.southcentralky.com/main/zoom-prospector/ or contact President & CEO of the Bowling Green Area Chamber of Commerce Ron Bunch, CEcD, at firstname.lastname@example.org