Beshear: Economic development tops $10 billion in Kentucky

Published 6:01 am Wednesday, November 3, 2021

Kentucky’s record-setting pace for economic development growth has exceeded $10 billion in private-sector investments this year, Gov. Andy Beshear said.

The amount includes new location announcements and expansion projects, the governor said. Those investments have led to more than 15,200 full-time jobs being announced, he said.

It shows that Kentucky is experiencing “unprecedented economic momentum,” Beshear said.

“This has been an incredible year for economic growth but we are just getting started,” the Democratic governor said Monday.
Through the first 10 months of this year, Kentucky has exceeded any other full-year totals for investment growth in the state, the governor’s office said.

Jobs announced through September include an average incentivized hourly wage of $24.15 before benefits, a 10% increase over the 2020 figure, Beshear said.

The automotive industry has been the top sector for investment and job creation so far this year at $6.6 billion and commitments to create more than 7,100 full-time jobs, he said.