Owensboro Secures Funding for New Entrepreneurship Center
The city and county are transforming a historic downtown building into a hub for local startups and small businesses.
Updated on Oct. 23, 2026 in Openings & Closings
Live Poll
Do you support using public funds to convert vacant downtown buildings into local business centers?
The Greater Owensboro Economic Development Corporation has secured $5.8 million to renovate the historic Turley Building into a new entrepreneurship center. The facility will house offices and coworking spaces to support local startups, remote workers, and small businesses.
Why it matters
This project aims to revitalize a vacant historic property while providing critical infrastructure to boost economic activity in downtown Owensboro. By housing the Kentucky Small Business Development Center, the hub will centralize resources for growing enterprises in the region.
The $5.8 million project is funded by $2.25 million from the Kentucky biennial budget, $2 million from the City of Owensboro, and $1.55 million from the Daviess County Fiscal Court. These figures cover the complete renovation of the three-story property.
The players
Greater Owensboro Economic Development Corporation
This organization serves as the primary regional economic development entity responsible for fostering business growth and community development.
Kentucky Small Business Development Center
This agency provides consulting, training, and resources to help small businesses across the state launch and grow.
Hafer Architectural
This firm specializes in architectural design and construction planning for commercial and institutional projects.
The details
The facility at 101 Daviess St. will feature coworking areas, meeting spaces, and professional offices designed to foster local business development. Hafer Architectural is currently managing the design and construction planning for the site.
Timeline
October 23, 2026: Funding commitment for the renovation was officially announced.
Early 2027: Construction is scheduled to begin on the site.
Late 2028: The facility is projected to open to the public.
Market Landscape
This project aligns with the funding priorities established in the Kentucky 2026-28 biennial budget. It follows a pattern of state-level investment in regional infrastructure that aims to close the gap between rural and urban economic growth cycles.
Local small business owners and remote workers will soon have access to new coworking spaces and professional resources in the downtown area. Residents can expect increased commercial activity once the center becomes operational.
The takeaway
Investments in historic downtown properties can serve as a catalyst for wider economic development and business growth. Local entrepreneurs should track the development of the center to identify potential opportunities for workspace and business support.
What happens next
Construction on the Turley Building site is expected to begin in early 2027, with an official opening scheduled for late 2028.
Further reading
Find more updates on new community projects in our Owensboro Openings & Closings section.
More information
For more details on the project timeline, visit the Greater Owensboro Economic Development Corporation website.
Live Poll
Do you support using public funds to convert vacant downtown buildings into local business centers?
