Jim DeCesare of the Logan Economic Alliance for Development (LEAD) came to the Tuesday, Sept. 14th meeting of the fiscal court asking and receiving a request for Judge-Executive Logan Chick to sign off on the Project Development Incentive (PDI) grant agreement which will allow the agency to receive $335,361 in state funding to help clean up the old American Legion property the agency acquired for economic development.
The DeCesare Group began providing economic development services in Logan County in June for a six-month period subject to renewal pending satisfactory performance.
“These funds are used through the Industrial Development Authority (IDA), we (the court) are just a body through which the state brings those funds through. The court will give them to the IDA who has to use them for economic development purposes,” said magistrate Thomas Bouldin Tuesday. The court also approved a letter of support for the PDI as well.
DeCesare reported there has been a lot of economic activity in Logan County the last few weeks with a “major operation” visiting one of the county’s industrial sites and a second conducting a virtual visit.
“There is a lot of interest in Logan County and we feel like we will have some good news before long,” said DeCesare.
While DeCesare held the attention of the court, he spoke briefly but vaguely on a possible up-and-coming development that could add additional jobs to an existing company in Logan County. To help facilitate this growth, he requested another support letter from the body to help make it happen.
“We are going to call this project Gulp,” said DeCesare protecting the anonymity of the industry. “The last time I came before the court, I mentioned the client’s name. I got a call from the Cabinet asking us not to do that. Once the project is approved and things are ready to move forward, obviously, they will come before the court for final approval and will divulge the name publicly.”
The letter of support is just a preliminary measure approving the incentive package to the Kentucky Business Investment (KBI) program for project Gulp.
“This particular company is an existing operation here in Logan County, and if approved, would more than double their employee base,” said DeCesare.
The KBI program provides income tax credits to new and existing agribusinesses, regional and national headquarters, manufacturing companies, and nonretail service or technology-related companies that locate or expand operations in Kentucky.