Building on the New Kentucky Home initiative, Gov. Andy Beshear announced five new tourism development projects in 2025, generating an estimated $118 million in economic investment. These projects are expected to create approximately 298 jobs when operational.
One of those announced was GN Event Hospitality (Grande Nicholson Event Center) in Kenton County.
“The tourism development program is essential in building a brighter future for our people,” said Gov. Beshear. “When businesses invest in our tourism industry, they help drive more visitors to our New Kentucky Home, boost local economies and grow our communities throughout the commonwealth. Together, we are making Kentucky a destination where opportunity and hospitality go hand in hand.”
Additionally, the Kentucky Tourism Development Finance Authority granted preliminary approval to four tourism development projects that are expected to generate $97.1 million in economic investment, creating approximately 196 jobs once operational.
In 2025, the Commonwealth gave final approval to five tourism development projects, including:
• Triangle Park Property Owner I LLC (Hyatt Regency Lexington) in Fayette County, with an estimated $58.5 million investment that is expected to create 15 jobs.
• Kentucky Kingdom Theme Park LLC in Jefferson County, with an estimated $27.5 million investment that is expected to create 105 jobs.
• Atrium TRS II LP (Crowne Plaza) in Warren County, with an estimated $8 million investment that is expected to create 30 jobs.
• TS Entertainment LLC (Malibu Jack’s Indoor Theme Park) in Daviess County, with an estimated $18.3 million investment that is expected to create 125 jobs.
• GN Event Hospitality LLC (Grande Nicholson Event Center) in Kenton County, with an estimated $5.5 million investment that is expected to create 23 jobs. This center is at. the Downs of Nicholson, which is being developed by Gary Holland. It is at 2052 Meenach Way in Indepencence.
In 2025, the Commonwealth also gave preliminary approval to four tourism development projects, including:
• The Appalachian Wildlife Foundation Inc. (Boone’s Ridge) in Bell County, with an estimated $61.4 million investment that is expected to create 110 jobs.
• Bakery Square Hotel LLC in Jefferson County, with an estimated $10.9 million investment that is expected to create 36 jobs.
• Lexington Downtown Hotel Investment LLC (Hilton Lexington Downtown) in Fayette County, with an estimated $20.9 million investment that is expected to create 31 jobs.
• NSD Spirits LLC (Never Say Die Bourbon distillery) in Fayette County, with an estimated $4 million investment that is expected to create 19 jobs.
“We are proud to sustain the success of tourism development here in our New Kentucky Home,” said Tourism, Arts & Heritage Cabinet Secretary Lindy Casebier. “Thanks to Gov. Beshear’s leadership and our hardworking staff, the commonwealth continues to reap the benefits of new jobs, private investment and tax revenue, not to mention creating and enhancing exciting destinations for visitors from within Kentucky and beyond.”
The projects are approved through the Tourism Development Act, which supports the development, rehabilitation and expansion of tourism projects. This program allows developers to recover up to 25% of the project’s development costs over a 10-year term through sales tax generated onsite. Projects, including but not limited to lodging facilities constructed on state parks, federal parks or national forest lands, are eligible to recover up to 50% of the development costs over a 20-year term.
The projects that received final approval in 2025 can collect a maximum potential incentive of $15.5 million.
“We can’t wait to see these new projects reach completion and look forward to the increased visitation they will bring to the state,” said Kentucky Department of Tourism Commissioner Mike Mangeot. “These investments have a significant impact on our communities, and we’re proud to support the continued success of this incentive program.”
Tourism, Arts and Heritage Cabinet