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
Automotive, Food & Beverage,Chemicals, Healthcare, Logistics, Plastics, Primary Metals
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.
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.
- 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
Four Fortune 500 companies headquartered in state:
Ashland Global Holdings
“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