The Pike County Fiscal Court is getting 50 acres of land for development at no cost.
The state transportation cabinet is giving millions of dollars worth of land in Scott Fork to the county.
The fiscal court plans to use it to create new jobs.
Plans are already underway to build on the property.
The fiscal court will build the proposed energy research park there along with other industries.
They believe the land will turn into hundreds of new jobs and new money in Pike County.
It is 50 acres of open field now, but Pike County Judge-Executive Wayne T. Rutherford predicts this land in Scott Fork will turn into one of the busiest spots in the county.
The Pike County Fiscal Court now owns the land; a gift from the State Transportation Cabinet.
They are deeding the millions of dollars of property to the county at no cost.
“What a day this is for us. It's a happy day for us. We've looked forward to this day,” Pike County Judge Executive Wayne T. Rutherford said.
The state purchased the land from the Appalachian Land Company and a family to build the new US-119.
The highway construction created the acres of flat land. Now that the highway is finished, transportation officials decided to give the county the property with the stipulation it must be used for economic development.
County leaders already made plans. They will build the proposed America's Energy Research Park and recruit other companies to locate here.
He says the new US-119 makes it a prime location.
Transportation officials are out of town, but say in a statement they are pleased to turn over the property for development and hope it will quote, "create new jobs and strengthen the region's economy base."
Judge Rutherford says they plan to start building water and sewer lines and other infrastructure to the site soon.
He says they are currently negotiating with private companies to build there too.