Floyd County is set to receive $750,000 in state funding to support future economic development through Kentucky’s Product Development Initiative.
Governor Andy Beshear announced the funding will help the Floyd County Fiscal Court pursue the proposed purchase and development of the Allen Rail Site near Allen.
The property includes about 30 developable acres and has been identified as having strong potential for future business investment.
The total project is valued at $1.5 million, with the state providing half the cost through the initiative, which helps communities prepare sites for future job creation and economic growth.