Congressman John Yarmuth (KY-3) joined Jeffersontown Mayor Bill Dieruf, local officials, and business owners today to announce new federal investments that will fund infrastructure improvements and upgrades at the Bluegrass Commerce Park, enhancing its economic competitiveness in the region.
The funding -- awarded through the Federal Highway Administration's Transportation, Community, and System Preservation Program -- totals $477,750. It will be used to resurface and rehabilitate roadways in the Park, increase safety at key intersections, and add a signature entrance to the Park. The improvements were identified in a master plan for the Park that was completed several years ago.
The goal of the improvements is to make the Park more competitive in attracting new businesses and retaining current tenants.
"I am proud to support federal investments that lead to more jobs and economic development in Louisville, and we're seeing that today in Jeffersontown," Congressman Yarmuth said. "Bluegrass Commerce Park has been central to the success of our community's economy for the past 40 years, and with this funding we are helping ensure it is well-positioned to grow for decades to come."
The Bluegrass Commerce Park -- the largest industrial park in Kentucky -- encompasses more than 1,800 acres. It is home to approximately 850 businesses and more than 40,000 workers. The Park represents an estimated annual employment tax base of more than $9 million for the City of Jeffersontown.
"The vitality of a successful business park comes from the investment we make into it," said Mayor Dieruf. "Jeffersontown Bluegrass Commerce Park will continue to be a success story, and we are glad to be a recipient of this nearly $500,000 grant. Jeffersontown shares the same vision with many businesses that call the Bluegrass Commerce Park home. We appreciate the recognition and support we have received from Congressman Yarmuth and many others who have invested in our commerce park."
Federal funding through the TCSP program is available to states, metropolitan planning organizations, and local governments to plan and implement strategies to improve the efficiency of the transportation system, reduce environmental impacts of transportation, and ensure efficient access to jobs, services, and centers of trade. The funding can also be used to leverage private investment in infrastructure and transportation.
"Bluegrass Commerce Park has exceeded our expectations for access to area manufacturing and distribution facilities," said Tom McGuire, co-owner of Air Hydro Power, a Louisville-based company that relocated to the Park in 2004. "Preserving jobs and community growth through a balanced strategy is key to promoting innovative private investment and increasing job growth, as well as attracting new companies."