Owenton Industrial Park positions Owen County for new investment and jobs 

FRANKFORT, KY - On Feb. 13, 2025, Gov. Andy Beshear highlighted continued momentum of the commonwealth’s site development efforts as he announced a new Build-Ready location in Owen County, positioning the area for future economic success and job creation.

The new Build-Ready site, located in the Owenton Industrial Park, adds to the state’s growing list of properties certified by the Cabinet for Economic Development as Build-Ready and offers 49 acres of available shovel-ready land.

“The Build-Ready program has steadily grown over the last several years, and I’m excited to see yet another community benefit,” said Gov. Beshear. “The work that is happening in Owen County, and across the commonwealth, is a testament of Kentucky’s commitment to site development. It’s paving the way for companies to choose the commonwealth as their New Kentucky Home, bringing quality jobs and opportunities with them. I want to thank local leadership in Owen County, as well as state officials who helped make this site in the Owenton Industrial Park certified and ready for business.”

The site is positioned within the northwestern city limits of Owenton and is owned by the Owen County Industrial Authority. The industrial park is located along U.S. Highway 127 and is approximately 15 miles from Interstate Highway 71. The site is located about 45 miles from the Cincinnati/Northern Kentucky International Airport.

Utilities available at the site include a six-inch gas line and 12-inch waterline, as well as four- and eight-inch sewer lines. The property includes electric service provided by Kentucky Utilities and natural gas provided by the city of Owenton. The site is also serviced with broadband for telecommunications by AT&T.

Owen County Judge/Executive Todd Woodyard spoke on the impact of the project: “The development of this new Build-Ready site is a game-changer for Owen County. By providing a prepared site for businesses to establish or expand operations, we are making a strong investment in our local economy. This project provides opportunities to bring new jobs, increased revenue and long-term growth for our community. We are committed to making Owen County a top destination for business and industry, and this Build-Ready site is a major step towards that goal.”

Casey Ellis, former Owen County judge/executive and current member of the Owen County Industrial Development Corp., thanked the parties that made the site possible: “The Build-Ready site has been a top priority for the Owen County Industrial Development Corp. for many years. We are thankful for the Build-Ready program and for the commitment of Judge Woodyard and the fiscal court members who supported this investment. Their foresight continues to move the city of Owenton and Owen County forward and creates future opportunities for our residents.”

Glen Ross, P.E., president of MSE of Kentucky Inc. Engineers/Architects, mentioned what the site provides for future companies: “MSE of Kentucky Inc. is proud to have provided engineering services for Owen Industrial’s new Build-Ready Site. The building site meets or exceeds all requirements for Build-Ready certification by the Kentucky Cabinet for Economic Development. This site in the Owenton Industrial Park provides speed to occupancy for an industrial business by allowing for immediate construction start, regardless of weather or time of year.”

With a Build-Ready site, much of the work - aside from construction - has already been completed. That includes controlling the land to be developed, completing archaeological, environmental and geotechnical studies, constructing a building pad, finishing preliminary design work, obtaining approved site plan permits and putting necessary infrastructure in place. On a Build-Ready site, construction can begin immediately.

To be certified as Build-Ready, a site must include a pad that can accommodate a building of 50,000 square feet, with the ability to expand to 100,000 square feet or more, and utilities extended to the site. Applicants - usually a city, county or economic development group - must have previously filed the necessary permits, as well as preliminary building plans, cost estimates and schedule projections. Applicants also are asked to provide a rendering of a potential building for the site.

Including the new site in Owen County, the commonwealth is home to 26 available Build-Ready sites. Multiple other locations across the state are currently working toward certification.

To date, 12 former Build-Ready-certified sites - including tracts located in Barren, Butler, Christian, Graves, Hart, Laurel and Pulaski counties and five sites in Warren County - have been selected by companies for new location projects, allowing companies to bring their operations online in a cost-efficient manner while creating jobs for local Kentuckians.

The new Build-Ready site in Owen County builds on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 60,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $14 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County, among others.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.

Last March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

For more information on Build Ready sites in Kentucky, visit CED.ky.gov/BuildReady.

A detailed community profile for Owen County can be viewed here.

Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.