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Beshear Budget Supports Life Science Lab, Bridge Projects in Covington

Governor Andy Beshear's proposed two-year state budget, announced this week, would include $10 million to support life sciences in Covington, as well as support for the Brent Spence Bridge corridor project.

In a news release, the governor said that his administration "is working to attract the jobs of tomorrow through smart investments in industries with great promise."

Covington is home to growing life sciences firms like CTI Clinical Trials, Gravity Diagnostics, Bexion Pharmaceuticals, and others.

“My budget invests $10 million in the City of Covington to support the construction and outfitting of a shared research and development lab facility to serve the rapidly expanding life sciences sector in the region,” Beshear said in an announcement.

The facility is a collaborative effort between the city, several private businesses, a regional economic development organization and higher learning institutions, the announcement said.

The governor's proposed budget also encourages investment in infrastructure projects like the Brent Spence Bridge corridor. The bridge, now more than 50 years old, is considered to be functionally obsolete, carrying twice as much as traffic that it was designed to handle. It connects Covington to Cincinnati over the Ohio River by way of Interstates 71 and 75.

The corridor project is listed among three major projects across the state, including the I-69 Ohio River crossing in Henderson and completion of the Mountain Parkway.

The governor noted that these are one-time funds meant to give Kentucky the flexibility to meet state match requirements for expected federal grants.

Beshear said that he also was allocating $184.9 million over three years to meet a state match that will unlock nearly $774.7 million in federal money for the Highway Trust Fund.

“This will allow for nearly $1 billion for road and bridge construction in Kentucky,” he said.

Meanwhile, the Governor’s 2022-2024 Biennial Highway Construction Plan is a robust $8.5 billion based on anticipated state and federal program revenue.

“We are charting the path to building the Brent Spence companion bridge without tolls,” the governor said.

-Staff report

Photo via traffic cam