Kentucky economic development secretary reports KPDI progress and $99 million committed to local projects

Frankfort — Secretary Jeff Noel of the Kentucky Cabinet for Economic Development told the House Committee on Development, Public Protection, Tourism and Energy on March 18 that 155 projects tied to the Kentucky Product Development Initiative (KPDI) have been approved and about $99,000,000 in KPDI funds have been committed across the state.

Noel, appearing with Deputy Secretary Katie Smith and General Counsel Matt Wiggett, said the cabinet is tracking a broad set of programs — from workforce training to entertainment incentives — that it says support job creation and local economic development. "We have 155 projects in total that have been approved, dollars 99,000,000 of those funds have been committed," Noel said during his presentation.

The KPDI program, Noel told the committee, now uses a staggered local-match formula that replaced a straight 50/50 match; the change, he said, is intended to increase participation by smaller communities. He said the cabinet has completed on-site visits for the 2024 round, and recommendations for projects entering due diligence will be made throughout the year. "The due…