By Michael C. Randle
We get caught up in the big deals in Texas, D.C., Atlanta and Charlotte, and we forget that even a tiny, tiny deal by comparison can lift up a rural county of less than 4,000 to even greater heights. In fact, this rural Kentucky deal may have a bigger effect than even Morgan Stanley’s 4,800 job relocation to Dallas announced this October.
Through my travels to rural counties in the South over the last 40 years (945 of them), I have learned the smallest of deals are sometimes the most critical in the overall economic development game. Owsley County, Ky., has been working on one for 25 years and they finally got a deal for their industrial park. How can you not enjoy that?
Speed Kentucky LLC, a producer and distributor of utility task vehicles (UTV), announced plans to invest $1.47 million into a new facility in Owsley County, creating 60 new, full-time jobs. The project marks the largest investment and job creation announcement on record for Owsley County.
Even Kentucky Gov. Andy Beshear was excited. “Today we’re celebrating a major win for Owsley County, with Speed Kentucky announcing the largest investment on record for this community and the creation of 60 new, full-time jobs,” said Gov. Beshear.“I am proud to welcome this team to their New Kentucky Home and look forward to working with them as we bring this $1.47 million facility to life. Together, we’ll ensure success for this team, the Owsley County community and our leading manufacturing industry.”
The company will establish an operational footprint in the Eastern United States to conduct final assembly and distribution of Speed UTVs. As the company continues growing in the East, this facility will support distribution and final assembly of the Bandit, Diablo, El Jefe and Bambino models. Speed Kentucky is also developing a new enclosed, air-conditioned utility side-by-side, expected to arrive in late summer 2027. It’s designed for practical work in farming, construction, forestry, firefighting and municipal service.
From the Kentucky-based Lane Report: The announcement also marks a milestone for local economic development efforts. Darrin Gay, chairman of the Booneville/Owsley County Industrial Authority, said the community has spent more than 25 years recruiting a business for its industrial park.
“Today’s Kentucky Economic Development Finance Authority approval of an incentive package for Speed Kentucky is a significant victory for Owsley County,” Gay said. “After more than 25 years of effort to recruit a business for our industrial park, we are excited about what this means for the future of our community and the people who call Owsley County home.”
