Ashland economic development staff says recruitment advancing; $2 million earmark is restricted fund balance

Eden, a member of the city’s economic development staff, told the Ashland City Commission at its work session that the department has distributed an economic development packet — including a Smart Start business guide and a "Build With Us" flyer — and is prioritizing hotel recruitment, business retention, and workforce development. "Economic development is moving forward in this city," Eden said, summarizing recent outreach and a business survey scheduled for release at the end of the month.

The commission pressed staff on a previously referenced $2,000,000 economic development allocation. Michelle Veach, finance, explained the money is a restricted fund-balance designation rather than a set-aside of cash: the $2,000,000 was recorded as part of fund-balance accounting during 2021–22 and there is no separate liquid cash account labeled "$2,000,000" available for immediate use. Veach said any use of those designated funds would require a budget adjustment and, if there is no liquidity at the time, would likely require borrowing. "There is no cash set aside," she said. "To give an incentive at this point, it would have to be borrowed funds." (Miss Veach; finance.)

On industrial redevelopment, staff updated commissioners on the former co-plant/Copeland property remediation. Barry, who presented the milestone handout, said the U.S. Environmental Protection Agency approved the remediation completion report as of Oct. 20, and the environmental covenant draft is with the Kentucky Department for Environmental Protection (KDEP) for review. Barry said KDEP provides informal notes to the company and that, after those changes, the covenant would be recorded; once the consent-decree termination is processed the site oversight would transition from EPA to KDEP. "That termination of the consent decree then allows the oversight for the co plant property to go from the federal EPA to the Kentucky Department of Environmental Protection," he said.

Commissioners also asked for more routine, public-facing updates from economic development staff. Several suggested either a brief, 2–3 minute update at each regular commission meeting or a monthly department briefing; one commissioner recommended reintroducing a 10–15 minute departmental update slot by rotating department heads. Eden said staff will try to provide regular summaries and promised the results of the upcoming business survey would be shared with commissioners.

What’s next: Staff said they will provide the commission with the business-survey results when available and return with refined recommendations on communication channels and timing. The Copeland/property covenant remains under state review; staff will notify the commission when the covenant recordation and consent-decree termination are complete.