December 9, 2021 Blog, In The News, Media, Press Release

With Governor Beshear’s leadership, Kentucky sets record 17,000 new jobs announced in single year

FRANKFORT, Ky. (Dec. 9, 2021) – With Governor Andy Beshear’s strong and steady leadership putting our people before politics, the Governor and private sector have announced a record-setting 17,000 new jobs just this year for Kentucky families, even during a pandemic, with $11 billion in investment. Governor Beshear has announced the creation of more than 25,000 jobs during the first two years of his administration

“Governor Beshear has been a tireless ambassador for our commonwealth and our people – leading us through this pandemic and now leading us out with the strongest economic growth in Kentucky history,” said Kentucky Democratic Party Chairman Colmon Elridge. “Companies in every corner of the globe are taking notice of his strong leadership and investing their future in Kentucky, creating jobs and opportunities for families in every corner of the commonwealth. His leadership is transforming Kentucky and creating a better commonwealth for generations to come.”

Chairman Elridge congratulated the Governor and his team and said he looks forward to what they will continue to do for Kentuckians for the next six years.

Earlier this year, Governor Beshear and Kentucky shattered every economic development record for yearly investment totals. Now, the Governor and his team have broken job creation records.

The Governor is working to secure good-paying jobs for Kentuckians. According to the state, Kentucky’s average incentivized hourly wage through September is $24.15 before benefits, a 10% increase over last year.

Those jobs include several historic announcements:

Largest single economic development project in Kentucky history with Ford Motor Company and its partner SK Innovation unveiling plans to build two electric battery plants in Hardin County creating 5,000 jobs and investing $5.8 billion. This transformative investment places Kentucky at the forefront of the automotive industry’s future.

Largest investment in Western Kentucky in 25 years with the location of Pratt Paper LLC in Henderson, the company’s new $400 million paper mill that will create more than 320 well-paying jobs.

Single largest investment in a new facility in Bowling Green and one of the region’s largest job-creating projects with Tyson Foods moving forward with a $355 million manufacturing operation creating 450 full-time jobs.

Site Selection magazine’s annual Governor’s Cup rankings for 2020, released in March, placed Kentucky ahead of other states in the region and third nationally for projects per capita. Overall, Kentucky placed seventh in total projects, the highest of a state with a population under 5 million. The business publication also positioned Kentucky in a tie for fifth in its 2021 Prosperity Cup rankings, placing the commonwealth among the national leaders for business.

Along with record economic development announcements, the Beshear administration has demonstrated strong fiscal management. The Office of the State Budget Director announced the commonwealth ended the 2021 fiscal year with the highest ever general fund surplus at $1.1 billion, a 10.9% increase in general fund receipts. The state’s sales tax receipts for April set an all-time monthly record at $486.5 million.

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