Gov. Beshear Designates October as Manufacturing Month in Kentucky
Industry is driving job creation throughout the commonwealth
FRANKFORT, Ky. (Oct. 2, 2024) – Today, Gov. Andy Beshear highlighted October as Manufacturing Month in Kentucky as the industry continues to be a key factor in Kentucky’s record economic growth and job creation with more than 6,000 facilities statewide employing over 260,000 Kentuckians.
“Kentucky plays an important and key role in the nation’s manufacturing sector thanks to the thousands of businesses statewide that produce incredible Kentucky-made products,” said Gov. Beshear. “This sector includes production in the food and beverage, aerospace, automotive and electric vehicle and metals industries, among others. These industries have positioned our state as a national leader in manufacturing. I want to thank every manufacturer across the commonwealth for their part in our continued success, as well as the unmatched workforce that makes this success possible.”
Kentucky’s best four years on record for private-sector growth, from 2020 to 2023, has been in large part thanks to the growth of the commonwealth’s manufacturing presence, and the industry has spurred rising wages for families throughout the commonwealth. The industry also contributes $38 billion annually to the state’s gross domestic product.
Since the start of the administration, Gov. Beshear has announced more than 730 private-sector new-location and expansion announcements from manufacturers that are creating more than 35,700 full-time jobs for Kentuckians with over $27.2 billion in new investment.
In 2023, manufacturing was responsible for $3.7 billion in new investment and more than 5,800 full-time jobs for Kentuckians. That’s 80.4% of all corporate investment announced in the commonwealth for the year and nearly 68% of all job creation.
Manufacturing growth has continued into 2024, with 51 manufacturing-related projects announced year-to-date that are contributing to over $3.2 billion in new investment and nearly 3,000 full-time jobs. That success is supported by a growing number of well-paying job opportunities for Kentuckians. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Frank Jemley, president and CEO of the Kentucky Association of Manufacturers, recognized the businesses bringing Kentucky-made products to the world: “We are excited to once again celebrate, during Manufacturing Month, the people and the companies all across Kentucky that build things, produce products that make our lives better, and bolster our families and our communities.”
In March 2023, Gov. Beshear announced a new “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. At the center of that initiative is CONNEX Kentucky, an online platform established through a partnership between the Cabinet for Economic Development and the Kentucky Association of Manufacturers (KAM) that provides a searchable supply chain database for manufacturers throughout the state.
Membership to the CONNEX Kentucky marketplace is provided for free to all manufacturers within Kentucky, with access to the national marketplace available for a small fee. More information about the program and a link to sign up can be found at kam.us.com/connexkentucky.
Manufacturers looking to locate a new facility or expand existing operations find that the commonwealth provides all the needed resources to accommodate long-term growth. Kentucky’s ideal central geographic location places the state within a day’s drive of two-thirds of the U.S. population and income. Combined with state-of-the-art infrastructure, Kentucky’s location allows manufacturers to quickly distribute products to key U.S. markets, while global air cargo hubs in Louisville and Northern Kentucky by UPS, DHL and Amazon provide fast and reliable distribution overnight anywhere in the world. Low business costs, including a rate among the lowest industrial electric costs in the country, according to the U.S. Energy Information Administration, ensure companies can continue to grow and create great jobs for Kentuckians.
The celebration of Manufacturing Month in Kentucky builds on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $32.5 billion in announced investments, creating more than 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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Gov. Beshear, Federal Officials Announce $67 Million To Support Affordable Energy and Create Jobs in the Commonwealth
Funds expand access to affordable energy and support revitalization in Estill County
FRANKFORT, Ky. (Oct. 2, 2024) – Today, Gov. Andy Beshear joined officials from the U.S. Environmental Protection Agency to announce $67 million in federal grants that support economic growth and job creation by helping families access affordable energy and by redeveloping a former rail yard in the city of Irvine into an entertainment and business district.
“Kentucky is seeing record-breaking economic growth. Today, we are once again making good on our promises to ensure prosperity reaches every corner of the commonwealth and to help our families in the east and west rebuild after natural disasters,” Gov. Beshear said. “We are grateful for these federal funds that will help provide more families with reliable and affordable energy and that will also create good-paying jobs.”
Solar for All Program Grant
The $62.4 million Solar for All program grant will help Kentucky deliver affordable solar energy to eligible households while creating new jobs in the renewable energy sector.
The Governor said the state is expecting to see 41 apprenticeship scholarships and more than 500 training and certification scholarships.
“That means these projects will be done by Kentuckians for Kentuckians,” Gov. Beshear said.
The program will help families in Eastern and Western Kentucky in disaster recovery housing, Low Income Home Energy Assistance Program customers and recently weatherized households in high energy regions.
Gov. Beshear thanked partners like the Kentucky Housing Corporation, Habitat for Humanity and others that will help the state add solar generation with energy storage to post-disaster housing, ensuring that the houses are energy efficient and energy secure.
“EPA is proud to work with Kentucky by providing over $62 million to expand access to solar through financial assistance models and workforce development programming,” said Acting Region 4 Administrator Jeaneanne Gettle. “Through this program, we are reducing climate and air pollution; delivering benefits to low-income and disadvantaged communities and mobilizing financing to spur additional deployment of affordable solar energy.”
Kentucky’s Solar for All program timeline spans five years and the program’s plans are pending final EPA approval. In the meantime, the state is seeking input about the program from families, communities and key stakeholders.
Kentucky is one of 60 recipients across the country to earn a portion of the $7 billion being awarded by the EPA under its Solar for All competition to deliver residential solar projects to over 900,000 households nationwide. It is funded through the Greenhouse Gas Reduction Fund, part of the Inflation Reduction Act of 2022.
“We are grateful to receive this award from the EPA,” said Energy and Environment Cabinet Secretary Rebecca Goodman. “The funds represent an opportunity to change the lives of many Kentuckians. The program will help overcome challenges to lowering the energy burden, strengthening the resilience of local communities and vulnerable households, and increasing trade skills in clean energy. This is a significant step forward in Team Kentucky’s Better Kentucky Plan.”
“One of the goals of this plan is to invest a portion of funds into local workforce development programs,” said Kenya Stump, executive director of the Kentucky Office of Energy Policy. “This important component supports the successful deployment of the program, improves the number of available qualified technicians and installers and creates new job opportunities.
Brownfields Cleanup Grant: Kentucky Steam Heritage Corporation
Gov. Beshear also announced that the Kentucky Steam Heritage Corp. has been selected as the recipient of a $5 million EPA Brownfields Cleanup Grant for its railroad themed “The Yard” development.
Gov. Beshear noted that this grant is the largest ever of its kind in Kentucky and that it is expected to bring 15-30 new jobs to Estill County.
The grant funds, provided through the Bipartisan Infrastructure Law, will be used to clean up the former CSX Ravenna Rail Yard located at 503 Kirkland Avenue in the city of Irvine. The nearly 27-acre site operated as a railyard for over 100 years. The rail yard cleanup project will create a community greenspace, featuring a music pavilion, a campground, jogging trails, a museum and a renovated repair shop where historic steam engines are restored. Funds also will be used to prepare a Community Involvement Plan and conduct community engagement activities.
Gov. Beshear said, “I’m so proud of those spearheading this project to preserve a 20th century rail yard and create a one-of-a-kind venue that will attract thousands of visitors and support the area’s economy.”
Kentucky Steam Heritage Corp. President Chris Campbell said, “Kentucky Steam is thrilled to be a recipient of an EPA Brownfields award for our ‘The Yard’ development, setting the stage for a bright future for Appalachian Kentucky, encouraging tourism while inspiring similarly spirited projects. We cannot thank the EPA and Gov. Beshear enough for their continued support in our and other important Appalachian projects.”
In April of 2020, Kentucky Steam secured a $120,000 loan from the Kentucky Brownfield Program’s Revolving Loan Fund, named the Cleaner Commonwealth fund. Funds were allocated for site work for the concert venue lawn and community space. In 2021, Kentucky Steam also received an EPA Cleanup grant in the amount of $500,000.
The Small Business Liability Relief and Brownfields Revitalization Act of 2002, as amended by the Brownfields Utilization, Investment and Local Development Act of 2018, was passed to help states and communities around the country clean up and revitalize brownfield sites. A brownfield site is real property, the expansion, redevelopment or reuse of which may be complicated by the presence or potential presence of pollutants or contaminants.
Under this law, EPA provides financial assistance to eligible applicants through five competitive grant programs: Multipurpose Grants, Assessment Grants, Revolving Loan Fund Grants, Cleanup Grants and Job Training Grants. Additionally, funding support is provided to state and tribal response programs through a separate mechanism.
Since 2007, Kentucky communities have received $34.5 million in EPA brownfields funding. Just under $17 million of that has been awarded since the Bipartisan Infrastructure Law was passed in November of 2021. Notable projects include a $2 million cleanup grant for the remediation of the former Hayswood Hospital in Maysville, a $1 million cleanup grant for the remediation of the former Palm Beach factory in Somerset and an additional $1 million in supplemental awards to both the Kentucky Department for Environmental Protection and Louisville-Metro Jefferson County Government’s brownfield revolving loan funds.
To learn more about Kentucky’s KYE3 energy strategy, click here.
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