Kentucky Governor Steve Beshear announced plans to earmark unused funds for state park projects to ready the Kentucky Horse Park for the Alltech FEI World Equestrian Games 2010.

“We must maintain Kentucky’s promise to the World Equestrian Games,” Gov. Beshear said. “And in light of our state budget situation, I believe this is the best way to make sure the 2010 World Equestrian Games are a great success.”

In light of work to be completed at the facility and the approaching date of the event, the state will use $28.6 million in unspent funds from a bond pool for state parks approved by the General Assembly in 2006.

The funding will help pay for the new indoor arena with exhibit space and an outdoor stadium at the Horse Park. The exhibit space will serve the facility not only for the World Equestrian Games, but also for future events. Funding will also provide for additional temporary seating at the outdoor arena, lighting and video screens.

“Kentucky must do all it can to ensure we provide an excellent venue for these games,” Gov. Beshear said. “It is a commitment we made and a valuable opportunity to show the world that the Bluegrass State is a great place to live and visit.”

The economic impact of the games is estimated to be worth at least $150 million, not including any future activities the Kentucky Horse Park will subsequently attract.

Organizers expect more than 600,000 visitors representing 60 countries, more than 2,000 journalists and television viewership of at least 500 million during the 16-day event.