Gov. Beshear: Main Street Communities Report $45.5 Million Investment, 122 New Businesses in 2020
Strong economic growth continues in 2021 as communities celebrate May 9-15 as Kentucky Main Street Week
FRANKFORT, KY (STL.News) The latest in a string of positive economic news, Gov. Andy Beshear announced Tuesday that 27 Kentucky Main Street Program (KYMS) communities finished last year strong with a reported $45.5 million cumulative investment in downtown commercial districts in 2020.
This total 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. Additionally, these communities finished the year with a net gain of 842 new jobs, 122 new businesses and 66 rehabilitation projects completed in Main Street districts.
“The positive news continues for the commonwealth with our Main Street communities investing millions, creating jobs and giving tourists more reasons to visit,” said Gov. Beshear. “This is another good day for Kentucky with more great news about continued investment in our state that is creating a brighter future for our people and our economy.”
“Kentucky Main Streets are critical to the success of our local communities and serve as the foundation for generating travel revenue in historic downtowns across the commonwealth,” said Tourism, Arts and Heritage Cabinet Secretary Mike Berry.