Paducah commissioner approve measure to provide support for spec building

The Paducah Board of Commissioners approved a municipal order Tuesday night formalizing plans to provide grant match funding for the construction of a speculative building with the city.

The investment of up to $6 million aims to enhance economic development opportunities in Paducah by attracting new businesses and job growth.

At the June 10th meeting, Greater Paducah Economic Development President/CEO Bruce Wilcox announced that the local community has been successful in receiving a competitive $2 million grant, the maximum eligible award, through the Kentucky Product Development Initiative toward the construction of a 100,000-square-foot speculative building in Industrial Park West in Paducah. 

Upon the sale of the spec building, it is anticipated the city will be reimbursed for its investment.