Economic impact ‘will reach across the entire Commonwealth,’ Governor says
FRANKFORT, Ky. – The Louisville Arena project reached a milestone today as Governor Ernie Fletcher joined state and local dignitaries to turned shovels of dirt in a ceremonial groundbreaking for the city’s newest sports and entertainment venue. The site of the arena is the block bordered by River Road and Main Street between Second and Third Streets.
State and local officials joining Governor Fletcher included Louisville Metro Mayor Jerry Abramson, state Senate President David Williams, Metro Council President Kevin Kramer and members of Jefferson County’s legislative delegation. All marked the occasion as an economic opportunity for the community and for the state.
“Today is a great day not just for Louisville, but for the Commonwealth as a whole,” Governor Fletcher said. “This project is proof that, working together, we can make Kentucky a better place. The economic impact of this arena will reach across the entire Commonwealth, and those who have worked diligently on this project are to be commended for their valiant efforts to make this day a reality.”
“The waterfront arena will be a powerful catalyst for economic development that will have a ripple effect throughout downtown, spurring multi-million dollar investments in underdeveloped blocks and creating more exciting options for residents and visitors to Louisville,” Mayor Abramson said.
“I am proud of the Jefferson County legislative delegation, whose members studied and debated this project to ensure that the best public policies were employed and the public had a thorough knowledge of the project,” said Rep. Joni Jenkins, D-Shively, delegation chair. “I am pleased to have been a part of the General Assembly that was able to pull together and fund this project, knowing that by helping Louisville succeed we are helping the entire state excel as well.”
“This arena has been a long time coming,” said Rep. Scott Brinkman, R-Louisville. “This project will mean dozens of new businesses, thousands of new jobs and untold new growth for Louisville. And by growing Louisville, we help the rest of the state grow as well.”
Actual construction of the arena will begin in summer 2008. Louisville Gas & Electric Co., one of the property owners, is relocating equipment on the site. Construction of a new LG&E substation is to begin this spring. The Louisville Arena Authority has purchase agreements in place with LG&E and Humana Inc., the other owner.
PC Sports LLC, of San Antonio, was hired in September by the Louisville Arena Authority to oversee the entire project, including design and construction of the new state-of-the-art, multi-purpose sports and entertainment arena. PC Sports will also coordinate development of a flagship hotel and a unique restaurant on the site.
In coming months, the authority plans to hire an architectural and engineering firm. The design process is to begin in spring 2007, and completion of the arena is scheduled for November 2010.
For more information and project updates, log on to www.arenaauthority.com