FRANKFORT, Ky. — Activity in 27 Kentucky Main Street Program (KYMS) communities last year brought $45.5 million cumulative investment in downtown commercial districts in 2020, Gov. Andy Beshear announced Tuesday.
This represents $28.1 million in private spending matched by $17.4 million in public improvements encompassing building rehabilitation, new construction, infrastructure, and special projects offset by rehabilitation tax credits, grant funds, and local city and county budgets.
The 27 communities finished the year with a gain of 842 new jobs, 122 new businesses, and 66 rehabilitation projects in Main Street districts.
Kentucky Main Street was created by the Kentucky Heritage Council (KHC)/State Historic Preservation Office in 1979 to reverse the economic decline in central business districts through historic preservation and redevelopment of commercial buildings. Participation requires local commitment and financial support, with a community Main Street director administering the program with a volunteer board. KHC provides technical and design assistance, on-site visits, a resource center, and access to national consultants through Main Street America.
Kentucky Main Streets has generated more than $4.7 billion of investment throughout the commonwealth since its inception.