Central Kentucky is making significant strides in economic development with the creation of its first public, multi-county business park. In addition, Lexington-Fayette Urban County Government, the City of Berea, Madison County, and Scott County have partnered to establish a regional business park in the Menelaus Industrial Park area of Berea.

Collaboration Between Local Governments

Moreover, the 300-acre park will create job opportunities and generate tax revenue, benefiting the local communities. The four local governments have agreed to form a joint development authority to manage the park. Once Berea receives a 10% hosting fee, the remaining tax revenues will be divided equally among the counties, with each receiving 33%.

Support from Congressman Andy Barr

Congressman Andy Barr secured $5.5 million in funding for the project. Therefore, this Congressionally Directed Funding will support the site’s development and provide the infrastructure needed to make the park successful.

Local Leaders Highlight Future Impact

Lexington Mayor Linda Gorton stated, “I’ve been working with the leaders in our neighboring counties for quite some time to develop a regional economic development project. Regional economic development is a winner for everyone. When Central Kentucky’s economy is strengthened, we all benefit. This project will provide good jobs and tax revenue that will allow governments to make improvements.”

Berea Mayor Bruce Fraley expressed, “It is a true pleasure to work with visionary leaders who are committed to working collaboratively for the greater good of our respective communities and the broader region. We have been working tirelessly for 20 months to develop the framework for this Regional Business Development Authority, which will be the first of its kind in the Bluegrass Region.”

Scott County Judge Executive Joe Pat Covington added, “It makes good business sense for communities to collaborate for the common good to attract new business opportunities. Central Kentucky is a regional economy. Our regional partnership will allow our communities to compete with other states in the recruitment of quality businesses, and provide citizens with good paying jobs, and so much more.”

Madison County Judge Executive Reagan Taylor concluded, “Madison County is proud to announce our continued commitment to regional economic growth through the development of the Regional Business Park in Madison County. This initiative is a testament to our belief in collaboration and innovation as key drivers for long-term prosperity.”

Looking Ahead

Significantly, this partnership marks a key milestone in Central Kentucky’s development. It positions the region for economic success and will benefit not only the four partners but the entire Bluegrass region.

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