Companies such as iwis (Germany), L’Oreal (France), NHK (Japan), Birtley (China), and INFAC (Korea) have all made recent investments in the state, showing Kentucky can compete globally for jobs and investment.
Kentucky manufacturers are having great success and their numbers are growing. A recent survey shows over half of the state’s manufacturers plan to hire between 1 and 19 employees in 2013.
General Electric (GE) continued its initiative to reverse decades of outsourcing, launching new product lines at its Louisville Appliance Park in 2012, including the GeoSpring hybrid water heater and French door refrigerator. The projects are part of GE’s $800 million commitment in Louisville that has already created 3,000 jobs.
Westlake Chemical is adding $217 million to its original $40 million investment in Calvert City, where the company employs 400 people. Berry Plastics is investing $96 million to reopen its Madisonville production plant, creating 420 jobs.
Large on Logistics
In addition to its manufacturing strength, Kentucky is a logistical paradise, located within 600 kilometers of 65 percent of the U.S. population. Two international airports and two top air cargo hubs (UPS and DHL) help rank Kentucky third in air cargo shipments. Kentucky also offers major rail and river ports, 10 interstates and nine major highways, and the most miles of navigable rivers in the lower 48 states.
Kentucky is home to many corporate headquarters, including YUM! Brands (KFC and Pizza Hut), Lexmark, Humana, Tempur-Pedic, Toyota Motor Engineering and Manufacturing North America, and CafePress.com.
While some started in Kentucky, others relocated for the great business climate, low business costs, skilled and educated work force, logistical and geographic benefits, and superior quality of life.
Xact Communications, a telecommunications provider, is locating its global headquarters in Lexington. CafePress.com, an online marketplace, moved its headquarters from California to be near Louisville’s UPS Worldport facility.
Many of Kentucky’s successes are due to the state’s competitive tax incentives for firms that locate, expand, or reinvest in the state. The hundreds of companies approved for incentives since 2009 are investing billions of dollars across Kentucky, with the potential to create or retain more than 44,000 jobs.
Come discover why so many global companies have found that Kentucky is a great place to build a business.
Commissioner, Business Development
Kentucky Cabinet for Economic Development
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601