State launches Build-Ready program

For sites where can construction can begin almost immediately

FRANKFORT, Ky. (Sept. 11, 2014) — The Kentucky Cabinet for Economic Development is launching its new Build-Ready program.

The program is a cost-effective way for communities to distinguish their site inventory to meet the needs of today’s site selectors. In addition to shovel-ready sites and pre-existing buildings, communities now have the option of proactively preparing and marketing land to potential companies without assuming all the risk and cost of constructing a building.

A “Build-Ready” site is just that — one in which the preparation work has been completed and construction can begin almost immediately.

“Build-Ready is meant to prepare more Kentucky sites for industrial development and generate additional opportunities for job creation in our communities,” said Larry Hayes, secretary of the Cabinet for Economic Development. “Our goal is to shorten the timeframe for new and expanding companies to be up and operational, and this program will allow us to do just that.”

With a Build-Ready site, much of the work—other than actual construction—has already been completed. That includes having community control of the land to be developed, preparing a building pad (prepared ground/soil/environmental studies), conducting preliminary design work, including project costs and construction timeframes, obtaining approved site plan permits and having necessary utility and transportation infrastructure in place.

Build-Ready sites will receive special designation on the Cabinet’s SelectKentucky.com website and other collateral materials that will be marketed around the world.

The following are key objectives of the Build-Ready program:

• Establish a “readiness” level for sites that meet the specs and standards currently being sought by industrial users in today’s market.
• Drastically reduce the time it takes companies to build new buildings and locate on a site.
• Give Kentucky a competitive advantage in the site selection process by streamlining the design, planning and permitting processes for greenfield locations.
• Give communities with fewer resources and a lack of attractive building inventory the opportunity to have marketable properties that require a smaller upfront community investment than would a spec building.
• Help Kentucky qualify for more projects and attract more industry.