Kentucky Lawmakers OK $15 Million For Mystery Project

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State lawmakers have agreed to let Gov. Matt Bevin borrow up to $15 million to convince a company to bring up to 500 full-time jobs to struggling eastern Kentucky.

State officials say Kentucky is in the running to land a major economic development project that would bring an investment of $1.3 billion, 1,000 construction jobs and 500 full-time jobs with average annual salaries of $75,000.

Lawmakers approved the bill late Thursday night on the final day of the legislative session. Republican Sen. Chris McDaniel said the bill was written in such a way that the governor can only use the money for this one project. If the project falls through, the state would not borrow the money.

Bevin told reporters the project is “alive and well,” adding “there’s no guarantee of anything.”