Jessamine County Fiscal Court

Amount Appropriated?

$2.0M

FFID tracks stages 1–2 — stages 3–5 vary by agency, assistance type, and earmark structure.

Project Description

Jessamine Co Joint Economic Development Authority (JCJEDA) is in the process of developing a new industrial park in the community for the first time in over 30 years. The proposed development plan for the park is three-phased. With the support of the City of Nicholasville and Jessamine County Fiscal Court, JCJEDA has used conventional financing to complete land acquisition for phase one and two. Further, they have completed phase one development for a total community investment to date of $3.2 million. Four lots located in the Phase one area are under negotiations pending total industrial park completion giving semi-tractor trailer access to U.S.HWY-27. JCJEDA is currently in negotiations with several more potential industrial clients with the intent of having phase two commitments even before construction is complete. We suspect that two comments will follow once phase two development begins. Jessamine County Joint Economic Development Authority is currently exploring the phase two construction funding through Team Kentucky\u2019s Economic Development Initiative/site development fund.\nThe Jenette Industrial Park\u2019s primary challenge is that it\u2019s generating far more interest than it has available lots present, and in order to move as quickly as possible to meet this demand, JCJEDA has done all the developing that it can through conventional financing and with zero funding assistance. The park is primed to grow quickly, but funding for continued acquisition and development is critical in creating nearly thousand jobs in this market area.