Keeneland officials presented this drawing showing the proposed layout of Thunder Gap, which is to be built off the Corbin Bypass. Construction on the $30 million project is set to begin in July or August and be completed in 2016. Officials estimate the project will create 150 full-time permanent jobs and 2,000 indirect jobs.
Officials unveiled conceptual drawings for Thunder Gap on property between Allison and Buchanan Blvd. in the Tri County Industrial Park.
The project includes a 1,723-foot strait racing track, along with barn facilities an entertainment center and grandstand. In addition, the property has six out parcels for commercial development and property allocated for a hotel/motel facility.
Vince Gabbard, president and chief operating officer of Keeneland said this first phase of the project is estimated to cost $30 million.
It will create and estimated 2,000 jobs and generate approximately $10 million in tax revenue.
“I have never seen a project that has the support of state and local officials like this one,” Gabbard said, noting State Senate President Robert Stivers, R-Manchester, Corbin Mayor Willard McBurney and the Corbin City Commission, Knox County Judge-executive J.M. Hall, Laurel County Judge-executive David Westerfield and Whitley County Judge-executive Pat White, Jr. have all offered their support.
In addition to the tax revenue, Gabbard noted that at its facility in Lexington, Keeneland has a long history of reinvesting the revenue back into the business or making charitable contributions throughout the facility.
“We want to replicate that on the quarter horse side,” Gabbard said.
Ed Worley, the project manager said the project has several hurdles yet to clear.
Keeneland must close on the sale of the property. The racing license must be transferred from the track in Prestonsburg to Thunder Gap.
Within the next 60 days, Woorley said site work will begin.
Because of the severe slopes in the property, significant site work must be completed, including the straightening of Allison Blvd to better suit the project.
Stivers noted Governor Steve Beshear has allocated $1 million from the discretionary fund to help fund the roadwork that also includes installing a new traffic signal on the bypass at the intersection with Buchanan Blvd.
Construction is scheduled to begin in July or August. Completion is scheduled for sometime in 2016.
“This is going to enhance everything in the region,” Stivers said the project. “There is no competition for this type of facility in the southern U.S.”
