Main Street Program Economic Impact Study Released

Have you ever wondered about the economic activity being created in your city’s downtown? Chances are, it’s much more than you realize.

The Kentucky League of Cities Community & Economic Development team has partnered with the Kentucky Main Street Program (KYMS) and Murray State University to create the 2023 Main Street Economic Impact Study focused on the activity generated across the state’s Main Street communities. The main goal was to measure the economic growth in these communities from the jobs, businesses, and capital investment projects of 2023. More than $35 million was committed to renovation and construction projects, and 427 new jobs were created across the 24 cities with a participating Main Street program. These projects and new jobs led to an estimated $58 million in overall economic output and the need for nearly 140 additional jobs in support industries across local economies. The estimated figures provide insight into the real impact of the Kentucky Main Street Program on local economies.

KYMS is a part of the Kentucky Heritage Council agency under the Kentucky Tourism, Arts, and Heritage Cabinet. The program was created in 1979 to preserve the historic downtowns of cities across Kentucky and intensify the critical economic activity these downtowns generate in their communities. KYMS utilizes a four-point approach developed by Main Street America’s National Main Street Center to achieve organization, promotion, design, and economic vitality. 

While most Main Street communities see immediate progress from these efforts, this approach focuses on long-term economic success through continued revitalization efforts. Main Street programs are locally administered and funded with technical assistance and guidance from the Kentucky Heritage Council. Kentucky cities with main street programs include Bardstown, Beattyville, Campbellsville, Carrollton, Cynthiana, Grayson, Guthrie, La Grange, London, Maysville, Middlesboro, Morehead, Murray, Paducah, Perryville, Pikeville, Pineville, Salyersville, Scottsville, Springfield, Taylorsville, Tri-Cities (Cumberland, Benham, and Lynch), and Williamsburg.

To learn more about KYMS, contact Kentucky Main Street Program Administrator Kitty Dougoud or visit heritage.ky.gov.

For more information on economic impact studies, contact KLC Community & Economic Development Manager Tad Long or Community & Economic Development Advisor John Buchanan.