Mayor Greg Fischer announced Friday that Metro Government has purchased a 30-acre piece of land in west Louisville that it plans to market to companies wishing to expand or relocate to the city.
The property is the former headquarters of National Tobacco located at 30th and Muhammad Ali Blvd. It will cost the city $1.2 million to buy from state government, with $750,000 coming from a settlement with the state over an unrelated right-of-way dispute.
The other $500,000 was allocated by the mayor last year in the city budget to buy brown space in the West End.
"This property is ideal and ready for development," Fischer said in a news release. "The site is clear with no significant environmental issues. It’s on a rail line, abuts the interstate and is surrounded by a ready workforce."