FLOYD COUNTY, Ky. (WMDJ) – Funding has been secured to breathe new life into Thunder Ridge Racing and Entertainment Complex after sitting dormant for nearly a decade.

On Thursday, Gov. Andy Beshear announced that the Floyd County Fiscal Court, on behalf of the Big Sandy Area Development District, is seeking to purchase the 54-acre tract for the purpose of developing the property into the Thunder Ridge Industrial Business Park.

The project will see $5 million in total funding for development, with $2 million approved in state funding.

The funding is through the Kentucky Product Development Initiative (KPDI), which is overseen by the Cabinet for Economic Development. The initiative provides funding for local communities statewide to increase investment in site and building upgrades to attract future job creation and economic growth.

Floyd County Judge Executive Robbie Williams says once final approval of Abandoned Mine Land funding is given, the Fiscal Court will purchase the land from R & J Development and move forward with developing the site in the next three to four months.

Murray Sinclaire, the original owner of the Thunder Ridge property and part of Appalachian Racing, sold the 54-acre track to R&J Development 2017.

In 2022, Floyd County Judge Executive Robbie Williams, along with Congressman Hal Rogers announced $3 million in funding from the Abandoned Mine Lands grant to help for the purpose of site development.

The AML grant funding is still waiting for final approval.