We're starting a new segment this Friday.

We are taking on the business beat.

Well, we're talking about economic development and how Kentucky is stacking up and two particular counties that affect a lot of others.

And we have a good dynamic duo with us today to break it all down.

Jeff Van Hook, who's executive director of the Rock Castle County Industrial Development Authority, who is on screen left, and Jason Rainey, who is head of the Mount Sterling, Montgomery County Industrial Authority and Chamber of Commerce, on screen, right with the great kicks that you'll see probably on a wide shot.

Good to see you, gentlemen.

Good to see you having us.

So this is good that we're talking about economic development and business, which we don't often do too much.

And so we're glad to have you both kicking this off for us.

I want to talk to you first, Jason, about how do you define economic development?

What does it mean in terms of everyday application, everyday life?

I think anything we can do to continue to improve the quality of life for Kentuckians is how I look at that.

You know, traditionally genomic development, strictly looking at industrial type projects, it's taken more of a approach.

It looks at the complete opportunity there right.

Retail, culture, community, life.

How does that all tie in to attracting companies to our communities?

Yeah.

Anything you'd add to that, General?

That's like retention.

If you don't have a retention plan, then you don't have a good economic development plan, and that's staying focused on existing industries in Kentucky.

And I think the see the cabinet for economic development.

The governor, we've done a really good job on that in the last few years.

So, yes, it's not always about recruit, but it is about retention.

Retention.

Right.

Yeah.

And what makes a good site, a good place to come do business?

Got to have utilities.

That's one of the biggest things.

And that's where Kentucky right now is in the lead.

We actually have sites, but we have utilities a lot of other states are running out of utility capacities and things.

So we're right now the opportunity we have some real opportunities in the state of Kentucky.

Yeah.

And let's talk about how communities will benefit from the budget that was passed just recently that goes into effect July one.

This is economic development, but it is all about community growth and quality of life.

And it turned out pretty good.

It is.

There's a lot of good stuff for communities across the across the state.

I'm really glad my colleague Jeff is here today.

You know, a nice thing that their community and their partnership was able to get in the budget and cool.

We get to highlight that today.

And then also our community is benefiting from the program Kentucky Product Development Initiative being refunded in the new biennium budget.

So yeah, and let's talk about that because that Kentucky Development or Product Development initiative.

Why is that so important?

Because that's where the money is coming.

It filters through that particular organization down to the counties.

Well, from several years ago, some of the folks at the Cabinet for economic development, Matt, targeted the Kentucky Association Economic Development.

John Burlington at the Cabinet at the time had this vision.

How do we create more product, more opportunities for companies to locate here in Kentucky?

Right.

We got to have the products for folks to locate.

And so this is an intentional act.

The proactive activity by the state of Kentucky to be able to create projects and sites in my community in Mount Sterling, we've recently benefited from this.

Yeah.

So and along with the economic development discussion, it's also the workforce issue, right?

So is that a challenge?

A workforce is a challenge in Kentucky, but it's a challenge everywhere.

So, I mean, it's the same thing.

It's like what I say, you know, we're no different.

Well, we get to sales are uniqueness.

You know, we're unique.

We got to tell our story.

And the thing about it is, is most people, like in rural areas, they grew up doing chores, raised on farms, things like that.

So actually our our workforce is is, you know, has some real benefits to it.

And we got and we got to highlight that.

Yeah, in eastern Kentucky I mean they're griot.

Yeah that's.

That's what we got to highlight.

Yeah.

So speaking of the budget and how well communities fared, let's talk about how your community fared.

Jeff.

We're very fortunate.

We had a vision that a couple of years ago that we went through the Kentucky Product Development Initiative, Legislature put monies in there, so we were able to create a regional partnership with Garden Rock Castle and Lincoln County.

So we got the Rail Regional Industrial Development Authority.

And because of that, we not only got KPI monies and got 165 acres on a very strategic piece of property, we were able to accumulate 1492 acres, which the legislature, I want to thank them for, for funding that that $62 million to get that.

But that's a regional opportunity that puts us with the one in Duncannon, the one in Harrodsburg.

And then we have another site called the car site that puts us in the same realm of opportunity as an Ohio or South Carolina.

Georgia.

Now we have four mega sites in the state of Kentucky.

So what's going to go on this particular mega site?

A transformational, generational changing opportunity.

So it has to be the right best fit because it don't have to be just for Rock Castle, Garrett And Lincoln is for a 20 to 23 county region.

And that's the thing about it.

That's why I'm so proud of the legislature, the CDC, the governor, because we you know, we worked with Rocky and the governor.

They were there for a speedy announcement back in the fall.

And it's just a really good thing that, you know, economic development, it's not red or blue.

It's all right.

It's about the.

State.

It's green.

That's right.

Right.

That's great color that you're.

Matching.

It.

Right.

And the hundreds of jobs this could generate and thousands.

We have.

Thousands.

Of jobs.

And that's just, you know, at the plant level.

Yeah, because we're looking at the opportunities there.

You know, that this large with the utilities that we have to create thousands of jobs.

But that's just at the plant level.

Then you think about all the other things and then that retention piece that all those other jobs that are in those industries that are complementary and of course growth in another place.

Yeah, that's awesome.

You got a story to tell too.

Well, next week we're having a groundbreaking on our new industrial park in Mount Sterling and it's been able to be possible through the Kentucky Product Development Initiative.

Right.

And Cabinet for Economic development, the Governor's office and Rocky, all their leadership to support us.

And I think it's a really cool example of county city governments, our Industrial Authority, and working with state government to do a project that's going to be really, really exciting.

So what is the project?

So it's a brand new industrial park and we're looking at having 16 sites on that, on that property and we just acquired that property back on May 6th.

Groundbreaking coming up.

And we're working on funding around infrastructure and road utilities to get into that side.

And it's a it's a beauty.

It's our field of dreams.

We're seeing some video of it at right now.

I mean, of course, drone footage makes everything look good, but it is very picturesque and pastel.

Yes, it is.

I would like to say that we couldn't do anything we did without the vision of the landowners buying into what we were doing.

And then once the landowners were in and we could actually get control of the property, then with our partners, our utility partners, and then the state in the legislature, that's you know, it was a true collaboration and that's what it takes to really be successful.

Yeah.

And vision, Right.

You all of you all get credit for that.

Well, congratulations.

And we'll be checking up on each of each of you as these projects develop.

And we'll probably be in your area next week.

Yes.

Thank you.

Congratulations and thanks so much.

And our first segment of the business be.

We'll have you back.

Thank you so much.

You keep.