(From Wayne County IDA) The Monticello Wayne Co Industrial Development Authority (IDA) is pleased to announce the sale of IDA-owned property paving the way for a significant economic boost in our
region. The 86-acre site will be developed into a medical cannabis cultivation and
processing facility as well as a light manufacturing hub, creating new job opportunities
and strengthening the local economy in ways we could not imagine.
Of the 86 acres, 40 acres will be dedicated to a state-of-the-art medical cannabis
cultivation and processing facility. It is important to note that this facility will not be used
for retail sales or direct consumer transactions. Instead, it will be focused on the
controlled, regulated cultivation and processing of medical cannabis, supplying
licensed medical providers and facilities in compliance with state and federal regulations.
The remaining 46 acres will be developed into multiple light manufacturing facilities,
further diversifying the local economy and providing additional employment opportunities.
Walker Land Corp.’s initial investment in this project is projected to be $25 million, with
expectations of creating between 75 to 100 full-time jobs with annual salaries ranging
from $60,000 to $65,000 by the end of the fourth quarter of 2025.
Proceeds from the land sale will be reinvested directly into the community through the
creation of a Revolving Loan Fund, designed to support local small businesses and
entrepreneurs. Additionally, a portion of the funds will be allocated toward acquiring new
properties for future development, ensuring continued economic growth in the region.
“We are excited to welcome this investment into our community,” expressed the IDA board
“This development will not only create high-quality jobs but also strengthen our local
economy by supporting small businesses and fostering long-term growth. This was not a
decision that any of us took lightly or made a rash decision on by having a unanimous vote
we are ready to move our community forward. “
“This is a historic day for the City of Monticello, Wayne County and the Commonwealth of
Kentucky,’ noted Rocky Adkins, Senior Advisor to Governor Andy Beshear, “with the very
first groundbreaking across the state for medical cannabis cultivation. We will remember
this day for many years to come.”
More details about the project will be shared in the coming months as development
progresses. The IDA remains committed to bringing sustainable economic opportunities to
Monticello and Wayne Co Kentucky , ensuring a prosperous future for residents and
businesses alike.