For Immediate Release
November 6, 2003
Contact: Chris Kellogg (502) 564-2611 or Jody Lassiter (502) 573-2383
 

Governor Paul Patton, flanked by county judges and other representatives from Trigg, Lyon, Caldwell, Crittenden and Livingston counties, finalized a joint agreement yesterday in the Capitol rotunda that will make nearly 500 acres in Western Kentucky available for potential industrial development.  The Pennyrile WestPark Industrial Site is a portion of more than 1,800 acres of prison farmland located northeast of Eddyville in Lyon County.  The land will be made available to economic/industrial development prospects through a partnership between local entities and the Kentucky Cabinet for Economic Development.
            A six-member industrial development authority to manage the marketing of the property will be appointed by the county judges that are parties in the agreement.  Besides overseeing efforts to market the property, the authority can apply to outside agencies for development and project assistance that would help attract prospects to the area.  Any site sales must be approved by the state and the authority under the terms of a memorandum of understanding that will be signed within the next several weeks.  Proceeds from property sales would be recouped by the state.
            The participating counties will share in any financing that may be required as well as revenue sharing generated from the development of the park. 

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