Gov. Beshear Visits Western Kentucky on 3-Year Anniversary of Deadly Tornadoes
Governor takes time to remember those lost, thank those who continue to help rebuild
GILBERTSVILLE, Ky. (Dec. 10, 2024) – Three years after tornadoes that took the lives of 81 Kentuckians on Dec. 10-11, 2021, Gov. Andy Beshear visited Western Kentucky today to remember those lost and to thank those who continue the work of rebuilding.
“Today we remember the precious lives taken – each one a child of God – who will forever be missed by their loved ones. But my faith teaches me that we will see them again,” Gov. Beshear said. “Today, we also take time to thank those who have worked tirelessly over the years to help rebuild lives, homes and communities. We are rebuilding stronger because of the love and compassion you’ve shown your neighbors.”
Gov. Beshear planned to join His House Ministries Pastor Stephen Boyken and Mayor Kathy O’Nan in Mayfield for a remembrance ceremony and the dedication of 8 new homes, but due to unsafe travel conditions he was unable to attend. More than 50 homes have now been dedicated by the Hope Initiative, and many of the families receiving them were in attendance. With support from the Team Western Kentucky Tornado Relief Fund, more than 221 homes have been built, significantly repaired or are under construction.
“It’s already been three years since disaster struck our community. Three years of recovery, rebuilding and reflection. Among the many lessons we have learned, few stand out greater than the need for steadfast leadership following a disaster,” said Pastor Boyken. “The necessity of servant leaders that inspire hope, demonstrate compassion and keep their promises in spite of obstacles that arise. Today, we are able to dedicate our 50th home because of those kind souls from around the commonwealth of Kentucky and beyond that have given, served and led. Thanks to funding from the Team Western Kentucky Tornado Relief Fund, we have been able to help more families than we ever thought possible. Thank you, Gov. Beshear for your leadership, your compassion and for keeping your promise.”
“As we observe the three-year mark after the historic tornado that tore through Mayfield, we remember the dear ones who lost their lives and remind their families that they will never be forgotten,” said Mayfield Mayor Kathy O’Nan. “We also celebrate the resiliency of the people who call Mayfield home, and we commend their determination to rebuild and recreate our community. Together we will forever be Mayfield Strong.”
In Gilbertsville, the Governor joined AT&T officials and local leaders to celebrate the company’s $3 million investment into high-speed internet since the tornadoes. The Governor trip also includes travel to his family’s hometown of Dawson Springs to visit the tornado memorial and observe a moment of silence. Finally, Gov. Beshear will attend the Habitat for Humanity home dedication in Muhlenberg County for the Oglesby family, who tragically lost their 5-month-old son in the storms.
“Through tragedy and the most difficult of times, we continue to stand together and keep our promise to be there until every structure and life is rebuilt,” said Gov. Beshear.
Today’s announcements build on the work that has been done over the years by local, state and federal leaders, nonprofit organizations and volunteers. This year, rebuilding updates include:
- Since the tornado outbreak, Gov. Beshear has now announced 75 private sector projects for a total investment of more than $3.3 billion and 5,113 new jobs in tornado-affected counties.
- The Team Western Kentucky Tornado Relief Fund raised over $52 million to pay for funeral expenses, aid survivors and build up to 300 homes in the area.
- The West Kentucky State Aid Funding for Emergencies (SAFE), which was established by the Governor and lawmakers, has awarded about $148 million to eligible cities, counties, public and nonprofit utilities and school districts for much-needed financial support.
- In October, the Governor helped break ground on a new city hall and police station in the city of Mayfield. On Sept. 23, the city of Mayfield broke ground on a new fire station. The projects are supported by SAFE funds.
- In September, Gov. Beshear announced $1.3 million to replace an undersized culvert under Whispering Hills Boulevard in Bowling Green.
- In June, the Governor along with the Kentucky Housing Corporation, announced a combined more than $223 million to build 953 affordable rental units for tornado-impacted communities.
- In June, Gov. Beshear highlighted a $31.5 million effort made possible by federal grants and $6.3 million in state transportation funds to revitalize the city of Mayfield’s downtown and support economic growth.
- In March, Gov. Beshear announced more than $5.9 million to make improvements to Mayfield’s stormwater infrastructure.
- In March, Gov. Beshear also announced the Marshall County Fiscal Court will use $654,000 for a home rehabilitation project to repair homes damaged in the tornadoes.
- Also in March, Gov. Beshear announced the Fulton County Fiscal Court will use $2 million to acquire 12 lots to build homes for tornado survivors.
Funding to support families and communities over the past three years, now totals:
- Private insurance has paid out 16,688 tornado damage claims totaling nearly $500 million.
- Almost $16 million has been approved through the Federal Emergency Management Agency’s (FEMA) Individual Assistance Program for 2,325 applications to individuals and households across 16 counties. This includes more than $10.9 million allocated for housing assistance, essential repairs, temporary housing and other critical needs.
- Over $150 million has been obligated from FEMA’s Public Assistance Program to assist 23 declared counties in meeting emergency needs and restoring public services.
- Kentucky’s federal representatives helped secure $123 million in federal funding to help Kentucky rebuild.
- Over $59.4 million in low-interest disaster loans have been approved by the U.S. Small Business Administration to support individuals and businesses affected by the disaster.
- The U.S. Department of Labor approved up to $25 million to assist dislocated Kentucky workers.
- Local partners and the Kentucky Housing Corporation provided $16.5 million in financing for housing for victims.
- Over $11.3 million has been allocated from FEMA Hazard Mitigation Grant Program to safeguard communities against future disasters.
- More than $4.2 million was provided through FEMA’s Other Needs Assistance to address personal property losses, medical expenses and other disaster-related costs.
Today, the Governor paid tribute to the Kentucky National Guard, Kentucky State Police, Kentucky Division of Forestry, Kentucky Fish and Wildlife, Kentucky Emergency Management, Kentucky Transportation Cabinet, local sheriff and police departments, EMS and local government leaders who went above and beyond to help others in the aftermath of the storms.
The Governor also thanked nonprofit leaders and volunteers who helped provide food, shelter and other essentials to those affected. One example of the kindness shown by volunteers was just days after the tornadoes, when First Lady Britainy Beshear organized a Christmas toy drive that resulted in more than 100,000 toys and $200,000 in gift card donations that poured in from around the country to help the kids who lost so much.
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Gov. Beshear, Team Kentucky Host German American Chamber of Commerce Delegation To Encourage Investment, Job Creation
Leaders from innovative tech companies visited communities across the commonwealth
FRANKFORT, Ky. (Dec. 11, 2024) – Today, Gov. Andy Beshear highlighted a recent visit by a delegation of German business and economic leaders, who received a firsthand look at all the advantages for companies considering new-location and expansion projects in the commonwealth.
The delegation from the German American Chamber of Commerce of the Midwest (GACC) also explored Kentucky’s advanced manufacturing and growing EV sectors.
“It was an honor to welcome the delegation from GACC to our New Kentucky Home, and I want to thank them for their interest in learning why our commonwealth is the best state in the country to do business,” Gov. Beshear said. “We have a long and successful history partnering with German-owned companies, which we will continue to build on and strengthen in the years ahead. Together, we will make sure the success we’ve achieved continues as we create more opportunities for Kentuckians across our commonwealth.”
In addition to meeting with the Governor and representatives from the Cabinet for Economic Development, the delegation spent three days traveling throughout the commonwealth and had the opportunity to meet with company and community leaders and other economic development partners in Boone, Bullitt, Franklin, Hardin, Jefferson and Warren counties.
The GACC Midwest delegation included representatives from 13 German-owned companies and VDMA (the largest association for the machinery and equipment manufacturing industry in Germany and Europe).
Companies represented include AZO GmbH, Brückner Maschinenbau, BST GmbH, Dürr Systems AG, Maschinenfabrik Gustav Eirich, Erhardt+Leimer GmbH, Exacom GmbH, MACEAS GmbH, Plasmatreat GmbH, Qlar Group, Schuler Group GmbH, ULT AG and Vitronic GmbH, which operates a facility in Louisville where it employs approximately 65 people.
Germany ranks second in Kentucky for foreign direct investment-based employment behind only Japan, with over 80 German-owned facilities that employ over 15,000 residents statewide. These companies produce a range of products across the state, including automotive parts, food and beverage items and aerospace parts, in addition to distribution and logistics operations. Currently, more than 10 German companies base their U.S. headquarters in Kentucky.
“The GACC Midwest works to build lasting connections between German and American businesses, creating opportunities for mutual growth and collaboration. This visit to Kentucky has been a remarkable example of that, showcasing the commonwealth’s dedication to the transatlantic economic relationship,” GACC Midwest’s President and CEO Mark Tomkins said. “Kentucky’s strategic focus on automotive and advanced manufacturing, combined with the warm welcome we’ve received, really underscores the potential for German businesses to thrive here. On Wednesday, our delegation of German professionals spent the evening in the Governor’s home, discussing with him personally their aspirations and considerations for the EV battery industry in the United States. That’s a step above a ‘warm welcome.’ That’s commitment.”
Founded in 1963, GACC Midwest is headquartered in Chicago and maintains a branch office near Detroit. The organization is an integral part of the German Chamber Network with 150 offices in 92 countries around the world. The regional group furthers the GACC’s mission to promote German-American business relations and to support trade and investment between Germany and the United States.
The visit from the GACC Midwest delegation follows 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 nearly $34 billion in announced investments, creating roughly 57,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
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; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby 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.
Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
For more information on GACC Midwest visit gaccmidwest.org/en/.
Information on Kentucky’s economic development efforts and programs is available at NewKentuckyHome.Ky.gov or 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: Whelan Machine & Tool To Expand Louisville Operations With Nearly $5.7 Million Investment Creating 30 Jobs
Veteran- and family-owned company operating in Louisville since 1989
FRANKFORT, Ky. (Dec. 11, 2024) – Today, Gov. Andy Beshear announced that Whelan Machine & Tool, a veteran- and family-owned precision-machine product and services business, is investing nearly $5.7 million to expand its Louisville operations. The project will create 30 new jobs for the area.
“The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most critical industries, and manufacturing is at the center of that growth,” said Gov. Beshear. “We continually see quality companies like Whelan Machine & Tool expanding to meet growing customer demand, and that is a recipe for long-term economic success in our New Kentucky Home. I want to thank the company’s leadership for their belief in the commonwealth and look forward to its continued growth in Louisville.”
Whelan Machine & Tool has a history of supporting technical skills training and education in the local school system. Whelan serves as a business partner and advisory member of Southern High School’s Metal Working Academy, helping to identify potential gaps in the program’s curriculum and machinery and contributing to its continuous improvement. In April 2024, Whelan supported the academy by providing two judges for the SkillsUSA Kentucky State Manual Machining Competition, an event they will support again in spring 2025.
“Our investment will drive a significant expansion of the important work Whelan performs in the defense industrial base in Kentucky,” said Whelan Machine & Tool CEO and owner Patrick Malcor. “We’re happy and thankful to have the support of the Commonwealth of Kentucky, Louisville and Jeffersontown as partners in our growth. Our goal is to bring more mission critical defense manufacturing to Kentucky.”
Founded in 1989 and based in Louisville, Whelan Machine & Tool provides manual and precision milling and turning services using advanced CNC multifunctional turning and vertical machining centers capable of handling projects of all sizes. Whelan is ISO 9001:2015, AS9100D and ITAR compliant, ensuring 100% traceability throughout every phase of its projects.
Louisville Mayor Craig Greenberg showed support for the project: “We are happy to see a local veteran- and family-owned business continue to grow its operations in Louisville. Whelan Machine & Tool’s expansion showcases the strength of our local economy, and specifically our manufacturing sector. We look forward to their continued success and the positive impact they will have on our city.”
Jeffersontown Mayor Carol Pike welcomed the company to the area: “I personally want to welcome Whelan Machine & Tool to Jeffersontown. Our Bluegrass Commerce Park is a perfect place to invest and grow their family-owned business. Relocating their existing 58 jobs and creating 30 new jobs is a strong indication of a growing economy, and we wish Whelan Machine & Tool continued success.”
Matt Meunier, director of community and economic development for Jeffersontown, spoke on the benefits of locating in Jeffersontown: “Jeffersontown is uniquely positioned to support the growing manufacturing sector of the economy with a great transportation network along with a diverse business climate. I am confident Whelan Machine & Tool will prosper in the Bluegrass Commerce Park and become a part of the Jeffersontown community.”
Whelan’s investment and job creation build 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 nearly $34 billion in announced investments, creating roughly 57,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
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; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby 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.
Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in October preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $400,000 in tax incentives based on the company’s investment of nearly $5.7 million and annual targets of:
- Creation and maintenance of 30 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $31.89, including benefits, across those jobs.
Additionally, KEDFA approved Whelan for up to $40,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Whelan can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Whelan Machine & Tool, visit WhelanMachine.com.
A detailed community profile for Jefferson County can be viewed here.
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 Announces Largest Dollar Investment of 2024: Toyota Investing $922 Million To Build Advanced Paint Facility in Georgetown
Company remains committed to reinvesting in U.S. manufacturing operations, environmental sustainability and stable employment
FRANKFORT, Ky. (Dec. 12, 2024) – Today, Gov. Andy Beshear highlighted continued transformation at Toyota Motor Manufacturing Kentucky (TMMK) as the company announced a $922 million investment to build a new advanced paint facility at the Georgetown plant. This is the largest dollar investment for the commonwealth this year. The facility will be designed to improve operational efficiencies, reduce environmental impacts and enhance the quality of vehicle finishes.
“Kentucky and Toyota have formed a winning partnership over the past 40 years that has been transformational for families throughout the commonwealth, and this latest investment builds on that tradition of success,” said Gov. Beshear. “Thank you to the leaders at Toyota for once again investing in Kentucky and our incredible workforce.”
Scheduled to open in 2027, the facility will add 1 million square feet of capacity while decreasing carbon emissions by 30% and water usage by 1.5 million gallons per year. The project directly supports Toyota’s goal of zero carbon emissions by 2050. The initiative also builds on the company’s latest paint technology advancements to offer more vibrant and diverse color options.
This news follows a $1.3 billion investment announced earlier this year at the Georgetown site to bring assembly of an all-new, three-row battery electric SUV to the U.S. market in 2026. Toyota’s investment in Kentucky has reached more than $11 billion since the company broke ground here in 1986, reaffirming the auto maker’s commitment to the commonwealth.
“Not only will our customers get the dynamic and stylish exterior finishes they love, but Toyota’s commitment to advanced paint technologies goes beyond aesthetics as a leader in environmentally responsible manufacturing,” said Kerry Creech, president of Toyota Kentucky. “This year alone more than $2 billion is being reinvested in our plant and further supports Toyota’s promise of long-term job security for our team members.”
This investment adds to the Georgetown operation’s history of groundbreaking technology and production. In 2006, TMMK was Toyota’s first plant in the United States to manufacture hybrid electric vehicles and later was selected to assemble fuel cell modules for use in hydrogen-powered, heavy-duty commercial trucks. The plant also plays a critical role in Toyota’s global electrification strategy, with an aggressive goal to offer electric or hybrid versions of every vehicle model by 2025.
TMMK is Toyota’s largest production facility globally and currently employs approximately 10,000 team members. Opened in 1988, more than 12 million vehicles have rolled off TMMK’s assembly lines, including the Camry, America’s best-selling sedan. Current production capacity is approximately 550,000 vehicles and 600,000 engines annually, with more than 350 suppliers nationwide – including over 100 in Kentucky.
Since 2020, Toyota has announced new investments of more than $20 billion into its U.S. manufacturing operations to support electrification efforts. Increasing BEV production in the U.S. advances Toyota’s portfolio approach to electrification.
Toyota is also committed to investing in its operational communities, primarily focusing on education and workforce development. Since making Kentucky home nearly four decades ago, more than $154 million in local donations continue to make sizeable impacts in the Bluegrass State.
Scott County Judge/Executive Joe Pat Covington talked about the region as a whole: “Toyota’s continued investment in Georgetown and Scott County is a testament to the confidence they have in our community and region as a great place to call home and do business. I am grateful for their investment and commitment to our community.”
Georgetown Mayor Burney Jenkins showed excitement for the project: “We are excited for yet another investment by Toyota into its Georgetown facility. We are optimistic about the economic impact of this expansion and appreciate their continued commitment to our community.”
Jack Conner, executive director of Scott County United, mentioned the impact the project will have: “Another significant capital investment by Toyota Motor Manufacturing, Kentucky, means improvement, sustainability and acknowledgement that Georgetown, Scott County and Kentucky continues to be a place to do business where the environment is ripe for reinvestment.”
Toyota’s increased investment and job retention build 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 nearly $34 billion in announced investments, creating roughly 57,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $13.5 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
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; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby 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.
Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
To encourage investment and job retention in the community, the Kentucky Economic Development Finance Authority (KEDFA) today approved a supplemental project to an existing Kentucky Jobs Retention Act (KJRA) program agreement with the company. The performance-based agreement can provide up to $267.5 million in cumulative tax incentives based on the company’s total cumulative investment of $922 million across the original and supplemental KJRA projects with an annual job target requirement of up to 8,950 over the term of the agreement.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates by claiming eligible incentives against its income tax liability and/or wage assessments.
In addition, Toyota can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on TMMK, click here.
A detailed community profile for Scott County can be viewed here.
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: $8 Million To Expand Site Development and Spur Future Investment and Job Growth in 4 Counties
Bell, Shelby and a regional project between Franklin and Anderson counties to receive state support through Kentucky Product Development Initiative
FRANKFORT, Ky. (Dec. 12, 2024) – Today, Gov. Andy Beshear announced further investment in Kentucky’s build-ready, job-ready site development efforts as projects in Bell and Shelby counties, as well as a regional project in Franklin and Anderson counties, were approved for $8 million in state funding to prompt future investment and job creation.
“In order to continue putting the commonwealth and its communities in the best position to succeed in the future, we must remain proactive in our site development and speed-to-market initiatives,” said Gov. Beshear. “Collaboration with local communities is paving the way for our long-term success, attracting businesses that will generate quality job opportunities for Kentuckians across the state. I am thrilled to see further investment into these sites and communities and look forward to seeing the positive impact these upgrades provide.”
The funding is through the Kentucky Product Development Initiative (KPDI), which is overseen by the Cabinet for Economic Development. The initiative provides funding for local communities statewide to increase investment in site and building upgrades to attract future job creation and economic growth.
The Bell County Fiscal Court, on behalf of the Bell County Economic Development Foundation, is planning site preparation and earthwork for the Flash SteelWorks site in Middlesboro. The $6.1 million project was approved for $2 million in state funding.
The Shelby County Fiscal Court, on behalf of the Shelby County Industrial and Development Foundation, is acquiring 65 acres, extending infrastructure and building access roads at 1198 Joyce Station Rd. The project will include $11.4 million in upgrades, with $2 million granted in state support.
The Franklin County Fiscal Court, on behalf of the Keaton Lane Industrial Development Authority, is seeking to acquire the site and perform due diligence and road and infrastructure improvements for the creation of the Keaton Lane Industrial Park. This is a regional project with support from Franklin and Anderson counties. The $8 million project was approved for $4 million in state funding.
Terri Bradshaw, president and CEO of the Kentucky Association for Economic Development (KAED), noted the impact the program has on the state’s future economy: “KPDI allows us to identify and develop sites as a critical function of our ability to recruit new industry and jobs. We must have product to sell, and this program ensures that. By enabling proactive site improvements that will minimize risk to future investment projects, these KPDI grants will directly improve Kentucky’s ability to compete for economic development projects on a national scale.”
Round 1 of the program concluded in December 2023, with 53 projects statewide approved for $31.2 million in funding. Including local contributions, these projects are generating over $123 million in investments in Kentucky’s sites and buildings portfolio.
To date, Round 2 of the program has seen over $51 million in state support approved for 36 projects throughout the state. Including local contributions, these projects are generating over $380 million in investments in Kentucky’s sites and buildings portfolio.
In December 2023, Gov. Beshear announced 46 site and building development projects in 45 counties advanced to the due diligence stage of Round 2 for further review, with $68.8 million available to support the projects.
In January, Gov. Beshear announced the first location to receive approval in the second round of the program, with nearly $2 million allocated to support site development in Campbell County.
In February, Gov. Beshear highlighted site and building development projects across 13 counties. Over $15 million in state funding was awarded to support projects in Clark, Clinton, Graves, Green, LaRue, Laurel, Logan, Montgomery, Nelson, Pulaski, Scott, Wayne and Webster counties.
In March, the Governor recognized projects in two counties. Over $2.3 million in state support was approved for projects in Breckinridge and Pike counties.
In April, Gov. Beshear announced three site and building development projects across Fulton, Hickman and Hopkins counties were approved for nearly $2.6 million in state support.
In May, Gov. Beshear highlighted projects across five counties. Over $5.7 million in state funding was approved for projects in Clay, Garrard, Harrison, Jessamine and Woodford counties.
In June, the Governor announced projects in two counties. Nearly $2.4 million in state funding was approved for projects in Adair and Boone counties.
In July, Gov. Beshear announced more than $1.1 million in state support, with a project in Rowan County and a regional project in Rockcastle County with support from Garrard and Lincoln counties.
In August, the Governor recognized a $222,500 project in Ohio County.
In September, Gov. Beshear announced $2 million in state support for a project in Lyon County.
In October, Gov. Beshear highlighted three projects in Caldwell, Floyd and Perry counties that were approved for $10.2 million in state support.
During the 2022 legislative session, Gov. Beshear and the Kentucky General Assembly approved $100 million in funding for the initiative.
Site and building development projects are first evaluated by an independent consultant based upon all facets a prospective company would consider, from workforce availability, access to all infrastructure and detailed information on costs associated with development. In turn, these projects will generate increased economic development opportunities and job creation for Kentucky residents. The initiative furthers the efforts of the pilot PDI program, which provided nearly $7 million in state funding for 20 site development projects statewide. Companies have announced economic development projects at 10 of the locations funded during the pilot PDI program, projecting $4 billion of capital investment and 3,500 new, full-time jobs.
This investment in site development 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 nearly $35 billion in announced investments, creating roughly 58,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $13.5 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
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; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby 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.
Gov. Beshear announced a Supply Kentucky initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
For more information on KPDI, visit kpdi.ky.gov.
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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