The Pikeville City Commission, during its Nov. 9 meeting, approved the newest tenant for the Kentucky Enterprise Industrial Park (KEIP).
Wright Companies will lease and fully develop the second speculative building at the park to serve as the headquarters for their more than 20 businesses. Upon the building’s completion, the company will relocate its corporate offices and mixed materials division plant to KEIP from West Virginia, according to a statement from the City of Pikeville.
“We are excited to welcome the Wright Companies and their portfolio of businesses to our facilities,” said Jill Fraley Dotson, Executive Director of Economic Development for the City of Pikeville. “This partnership represents the type of anchor tenant we want at KEIP: A proven, company with global reach and a long track record of creating jobs.”
In addition to the 250 employees Wright already has in the Appalachian region, Wright’s move to KEIP will immediately create 40 new jobs, with 20 additional jobs planned for the near future. The statement said Wright Companies will leverage the area’s modern infrastructure system, which includes ample rail, interstate and air opportunities, to create, bag and distribute its specialized construction materials to the tri-state region, as well as nationally and globally.
“The people behind the Kentucky Enterprise Industrial Park are changing the way Pikeville does business, for the better, “said Shannon Wright, president/CEO of Wright Concrete and Construction, Inc. “Our move to KEIP is a major milestone, not just in terms of growing our business and creating new jobs, but in seeing this transformative project come to fruition in the town we call home. We share KEIP’s commitment to creating a more prosperous community and are grateful for their continued support.”
In October 2019, Pikeville received an Abandoned Mine Land grant from the state for the construction of the second speculative building at the industrial park. It is scheduled to be finished no later than April 2020, and the lease with the Wright Companies will be executed by the end of the year. The first speculative building, also constructed with grant money, is currently being leased to a truck manufacturer.
“The Kentucky Enterprise Industrial Park wouldn’t be where we are today without the help of our partners, including the Commonwealth of Kentucky and ONE East Kentucky, among others,” added Dotson. “By working together, we are continuing to grow our tax base and create new opportunities for Pikeville at a time when they are needed most.”