When Mid-Continent University closed in 2014, its Mayfield campus was left mostly vacant. Recognizing the vacuum in the local community and its economy created by the school’s absence, WK&T Telecommunications Cooperative leaders began discussing with the university’s board of directors the possibility of purchasing the former campus and converting it into a technology park.
The idea began to take shape in November 2016, when the university filed a motion to sell the campus with the U.S. Bankruptcy Court in the Western District of Kentucky. Around the same time, WK&T started working with courts and economic development authorities at both the state and local level to take advantage of tax incentives that would fuel the $60 million investment in the park.
The cooperative developed its first conceptual designs of the project for these meetings, showing room for retail and commercial office space, as well as highlighting the 900 high-paying jobs and $150 million each year the park was estimated to generate. The plan was well-received by local leaders and was approved in January 2017.
In March, WK&T welcomed representatives of Murray State University to its newly-acquired property, where they toured the campus and discussed ways they could collaborate to promote business and educational support for the project.
Most recently, the Kentucky Legislature passed a bill (April 2017) expanding the project by making it eligible for Tax Increment Financing (TIF) incentives. This indicated strong support for the project across the state. The bill was sent to Gov. Matt Bevin, who signed it into law.
View our animated overview of the park by clicking here!