LG&E and KU awards $100,000 grant to support economic development.
Mt. Sterling is a recent recipient of an LG&E and KU Opportunity Kentucky grant for $100,000 that will enhance Mt. Sterling/Montgomery County’s economic potential and help drive long-term community and regional growth.
“This award is not only significant in our continued progress towards the development of our new industrial park, but also a pivotal tipping point,” said Jason Rainey, Executive Director, Mt. Sterling – Montgomery County Economic Development. “This award, combined with other funding we received, will allow this new industrial park to become a reality in 2026. Special thanks to the Kentucky Utilities Economic Development team, for their partnership and support as we push forward to a win for Mt. Sterling and the region.”
The new 163-acre industrial park in Mt. Sterling will offer significant future growth opportunities for investment and job creation. This expansion northward of the Woodland Industrial Park off Interstate 64 will feature significant infrastructure upgrades, including roughly 8,000 linear feet of new roadways and the expansion of essential utilities such as gas, electric, water, sewer and telecommunications, accommodating up to 14 new building lots, ranging in size from 10 to 23 acres.
“We’re proud to support Mt. Sterling as they prepare this new industrial park for future employers,” said John Bevington, Senior Director of Business and Economic Development. “Through LG&E and KU’s Opportunity Kentucky grant program, we’re partnering with communities across our service territory to develop market-ready sites that attract new businesses, create quality jobs and improve the quality of life for the areas we’re proud to serve.”
LG&E and KU created the Opportunity Kentucky grant program to help communities access funding from the state for site development, through the Kentucky Product Development Initiative (KPDI), and to help communities close deals. Our program and the state initiative is working. Since its inception, 14 new employers have announced projects on new or improved sites with the assistance of KPDI and seven of those required assistance from the Opportunity Kentucky program to move forward. In total, $5.7 billion dollars will be invested by the private sector, and more than 5,500 new jobs will be created on these sites as a result. Mt. Sterling could be next with the addition of this new industrial park.
