Big Rivers Electric Corp. ceremoniously broke ground on their new 47,000-square-foot headquarters at 700 W. 2nd Street. The project, which has an estimated $10.8 million construction cost, is expected to be completed in late 2022. The City of Owensboro will provide incentives to help offset some of the cost, including a full rebate of the downtown property purchase price.
The building will be located immediately west of Boardwalk Pipeline Partners. The first four floors will be the same size, while a fifth floor won’t be as wide or long. Construction will also include adding 129 parking spots.
The relocation of the company’s headquarters from Henderson is expected to have an $80 million impact on the Owensboro-Daviess County community, according to Brittaney Johnson, President/CEO of Greater Owensboro Economic Development Corp.
“The economic impact is pretty substantial for this project,” Johnson said. “It brings high-paying jobs, but it goes beyond that. Many of the employees will live here, they will spend their money here, their children will go to school here. From the company perspective, Big Rivers is a large company that is going to spend their money in the community. They’re going to give back to nonprofits, and they’re going to buy from vendors in our community whether that be office supplies or furniture or things like that. So obviously, there’s a domino effect on the economy.”
Bob Berry, President/CEO of Big Rivers also noted the company is doing more than bringing jobs to Owensboro.
“We’re a good corporate citizen,” he said. “We provide a lot to the nonprofits. We spend probably over $100,000 a year in donations and sponsorships. We’re owned by the people that we serve, so we try to give back to our community.”
In February 2021, Owensboro City Commissioners approved an agreement that authorizes financial incentives from the City and allows Big Rivers to take over four properties located along West 2nd and 3rd streets for its new corporate office.
City Manager Nate Pagan previously said the incentive includes selling the property to Big Rivers for the value as assessed by the Property Valuation Administrator, and subsequently rebating the purchase price back to the company, as well as a 10-year 50% general fund occupational tax rebate.
The agreement requires Big Rivers to retain its occupational headquarters in downtown Owensboro for 40 years, Pagan said.
Owensboro Mayor Tom Watson said Tuesday he is “extremely excited” to welcome Big Rivers.
“It’s just going to make our community that much better,” he said. “Even before Bob got here, he already contributed to several nonprofits like the Pitino Shelter and Nicky Hayden Home for Girls.”
Daviess County Judge-Executive Al Mattingly said the city and county governments worked together to try to make this project a reality.
“It just shows what you can do when you cooperate with the intent to bring good jobs to our community,” he said. “I think having a corporate headquarters like Big Rivers downtown will add a lot of things to this community.”
While the focus this year is on the downtown headquarters, Berry said Big Rivers has already purchased property for a transmission facility to be built beginning in late 2023.
He said it will sit on 114 acres located just off the bypass on W. Fifth Street Road, stretching from the Green River Area Development District building to Jack C. Fisher Park.
