The City of Pikeville, Kentucky, has entered into a preliminary agreement with MD Squared Power LLC to explore the development of a data center at the Kentucky Enterprise Industrial Park. This potential project could bring a capital investment exceeding $250 million and create over 190 construction jobs, along with 40 permanent positions offering wages above the county’s median income.

Preliminary Agreement Details

On April 20, Pikeville and MD Squared Power LLC, a Lexington-based company specializing in data center and digital infrastructure, signed a memorandum of understanding. This agreement initiates a 120-day negotiation period to assess the feasibility of a final development agreement. Importantly, this preliminary agreement does not involve any land transfer or binding commitments from the city.

City Manager Reggie Hickman emphasized the importance of transparency, stating, “We want people to understand what we are examining and why.” The city released documents to clarify the current stage of the process and address community questions.

Community and Economic Impact

The Kentucky Enterprise Industrial Park, with its robust infrastructure and state-certified Build-Ready site, is well-positioned to support the project’s initial phase without requiring additional infrastructure. Mayor Jimmy Carter highlighted the park’s role in attracting such interest, noting, “The Kentucky Enterprise Industrial Park represents years of public investment with the goal of bringing jobs to our area.”

The city commission is prioritizing the exploration of genuine economic opportunities while safeguarding Pikeville’s environment and land. An independent review is underway to ensure comprehensive information is available for decision-making. The city is also mindful of residents’ concerns regarding rising utility costs and infrastructure impacts.

Original reporting: WTVQ (Lexington) — read the source article.