The Pikeville City Commission has signed a preliminary agreement with MD Squared Power LLC to explore the possibility of developing a data center at the Kentucky Enterprise Industrial Park.
City officials say the Memorandum of Understanding, signed in April, creates a 120-day exclusive negotiation period while both sides evaluate whether a final development agreement is feasible. The agreement does not transfer land, commit the city to any terms, or guarantee the project will move forward.
The proposed first phase could bring more than $250 million in investment, along with an estimated 190 construction jobs and 40 permanent positions. City leaders say independent legal, economic and site reviews will be completed before any final agreement is considered.