TOMPKINSVILLE, Ky. — Monroe County will receive $255,000 in state funding to help prepare a recently acquired industrial site for future development and investment.

Gov. Andy Beshear announced Thursday that the Monroe County Industrial Development Authority was among eight recipients awarded funding through the Kentucky Product Development Initiative, which supports site and building development projects across the state.

According to the governor’s office, the industrial development authority recently purchased property along Ky. 163 (Edmonton Road) north of Tompkinsville. The site is being transformed from agricultural land into an industrial park designed to attract new businesses and jobs.

When complete, the property will include a 20-acre manufacturing site with a single building footprint, along with smaller sites intended for start-up businesses or existing local industries looking to expand.

The $255,000 award will help advance development of the property as Monroe County works to market the site for future private-sector investment.

In total, more than $5.2 million was approved for projects in Adair, Ballard, Clinton, Floyd, Madison, Magoffin, Monroe and Montgomery counties through the Kentucky Product Development Initiative.