#25 Kentucky


6.30 out of 10 in Taxation and Regulation

5.60 out of 10 in Workforce Quality

7.30 out of 10 in Living Environment


Initiatives Fuel Manufacturing

The Bluegrass State attracted nearly $7 billion in new investments in the first half of 2017, shattering the full year record set in 2015, thanks in part to initiatives like right-to-work legislation and a red tape reduction program. Toyota recently announced a $1.33 billion investment in its Georgetown plant to
refurbish and replace equipment to prepare for the company’s new global platform. Ford Motor also announced a $900 million investment in its Kentucky Truck Plant in Louisville. Braidy Industries will construct a $1.3 billion aluminum rolling mill in Greenup County that will create 550 advanced manufacturing jobs.

From the Governor

“We offer formidable advanced manufacturing resources and experience, plus workforce programs that set the bar nationally, logistics hubs that deliver products nearly anywhere globally overnight and a network of available sites and buildings in attractive communities.” —Gov. Matt Bevin

Key Industries

Automotive, Food & Beverage,Chemicals, Healthcare, Logistics, Plastics, Primary Metals

Key Companies

Ashland
Brown-Forman
Churchill Downs
Lexmark International
Texas Roadhouse
Amazon
Ford
Computershare
Alorica
Diversified Consultants
Braidy Industries

Key Contacts

The Kentucky Cabinet for Economic Development

Terry Gill, Secretary
terry.gill@ky.gov
502-564-7140
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
http://www.thinkkentucky.com/

Key Incentives

Kentucky Business Investment Program: Offers income tax credits and wage assessments to manufacturing operations and regional or national headquarters that create 10 or more jobs.

Kentucky Enterprise Initiative Act: Refunds state sales and use tax paid for building or construction materials permanently incorporated as an improvement in real property.

Kentucky Reinvestment Act: Offers tax credits to an existing Kentucky company engaged in manufacturing and related functions that will be investing at least $2.5 million in equipment or related costs.

Bluegrass State Skills Corp. Skills Training Investment Credit: Provides grant and/or credits to existing businesses that sponsor occupational or skills-upgrade training programs to benefit their employees.

EDCs

Kentucky Cabinet for Economic Development: thinkkentucky.com

Kentucky Association for Economic Development: kaedonline.org

Commerce Lexington: locateinlexington.com

Louisville Forward: louisvilleky.gov/government/louisville-forward

Highlighted Program or Initiative

The Kentucky Work Ready Skills Initiative has allocated $200 million to provide top-quality training for Kentucky residents in the sectors of advanced manufacturing, healthcare, IT/business services, construction trades and transportation/logistics.

Big Deals

  • Amazon announced in January 2017 it would create 2,700 new jobs and construct a $1.5 billion air shipping hub at the Cincinnati/ Northern Kentucky International Airport.
  • Toyota announced in the spring of 2017 that it would invest an additional $1.33 billion in its Georgetown plant to build vehicles on the company’s new platform.
  • Braidy Industries announced in April 2017 it would create 550 jobs and construct a $1.3 billion aluminum rolling mill in Eastern Kentucky.
  • Ford announced in June 2017 it would invest $900 million in its Kentucky Truck Plant in Louisville to support production of the 2018 Lincoln Navigator and Ford Expedition.
  • General Motors announced in June 2016 270 new jobs and a $290 million investment at its Bowling Green Corvette plan

Big Companies

Four Fortune 500 companies headquartered in state:
Humana
Kindred Healthcare
Yum! Brands
Ashland Global Holdings

C-Suite Testimonials

“When we got around to deciding where to choose to put Braidy Industries, we had 24 offers. Greenup County was not the top economic offer, but the state stepped up— the governor got Right-to-Work passed.” —Craig Bouchard, Chairman of the Board and CEO, Braidy Industries

“We are pleased about this investment in our Calvert City operations. Westlake Chemical has enjoyed a rewarding relatiownship with Kentucky for more than 25 years. These operations are a vital hub for our enterprise, and we look forward to a continued beneficial partnership in the future.” —Albert Chao, President and Chief Executive Officer, Westlake Chemical

- Advertisement -

CEO1000

CEO1000 Tracker Full List

From the schools they went to to the types of companies they run, CEO1000 is tracking the trends among the CEOs of the 1,000 largest U.S. companies.

SUBSCRIBE TO CHIEF EXECUTIVE

Sign Up to Receive Chief Executive’s Magazine and e-Newsletters

Chief Executive’s publications are designed to help CEOs do their jobs better and run their businesses more effectively. Subscribe here.

CEO CONFIDENCE INDEX

CEO Confidence Hits New Low For 2018 In July As Optimism In Future Growth Fades

Our monthly poll of nearly 300 U.S. CEOs found their outlook and confidence in future business conditions at a low for the year as the global trade war looms large.
- Advertisement -

BEST & WORST STATES FOR BUSINESS

Best and Worst States For Business

Are you looking to relocate or expand? Evaluate each state's strengths with Chief Executive's 2018 Best & Worst States for Business.

CEO OF THE YEAR

CEO of the Year

Once a year, we celebrate the achievements of a CEO, honored for his or her success in and dedication to business, shareholders and customers.

EDITOR'S PICKS

Five Tips For When You’re Ready To Sell Your Company

Founder-CEOs might have a hard time letting go of their baby, but when it’s time to sell, it’s time. Here are five tips on selling your company.

Sonnenfeld: PepsiCo’s Indra Nooyi Did It Her Way

PepsiCo CEO Indra Nooyi plans to step aside in October, leaving an impressive legacy at the beverage giant—not only in terms of performance, but in terms of corporate culture.

When Politics And Business Clash

When it comes to dealing with customers divided along ideological lines, there aren’t any simple choices.

Elon Musk Goes To Charm School

Wall Street thought Elon Musk was apologizing. He was letting them know he’s been studying for the next chapter of his incredible journey.