LOUISVILLE, Ky (WAVE) - An abandoned building in the Russell neighborhood is scheduled to become a new business.
The group behind the project announced the $200 million proposal Thursday.
It plans to convert the National Tobacco Company, also known as P. Lorillard Tobacco Company, on 30th and Muhammad Ali, into Global Research Park - Heritage West.
The park is expected to bring high-paying, entrepreneurial jobs to the West end, according to a news release.
It will also potentially have satellite locations for the University of Louisville and Jefferson Community and Technical College.
The group proposed 200 entry level jobs with salaries more than $60,000 annually, and improved housing in the areas around the project.
"The government alone cannot generate the economy of jobs needed to break the cycle of poverty," Reverend Charles Elliot, supporter of the proposal, said. "We are getting ready to spend and develop this area, which has been abandoned for so many years."
Future development on the park will include a biotech museum, amphitheater, and a grocery, according to the news release.
The proposal will be delivered to Metro Government on Monday.