Kentucky State Seal

 

*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:* 

*Scottie Ellis
502-401-6933*

*Brandon Mattingly
502-782-2006*






Gov. Beshear: Kentucky Ranks Among Top States Poised for Continued Economic Growth for 4th Straight Year

"""""""C"ommonwealth ranked 8th in Site Selection magazine’s 2025 Global Groundwork Index""""""""

*FRANKFORT, Ky. (Oct. 17, 2025) *– Today, Gov. Andy Beshear highlighted yet another strong national recognition for the commonwealth’s economic growth and future preparedness as Kentucky placed 8th in Site Selection magazine’s 2025 Global Groundwork Index, which is based on capital investment and jobs announcements paired with infrastructure funding data.

“Through hard work, we’ve seen incredible success these past few years attracting great companies to our commonwealth, creating more quality jobs for Kentuckians,” Gov. Beshear said. “What this national ranking shows is that we are also taking the necessary steps to prepare for future opportunities. The infrastructure is in place, the workforce is ready to meet any challenge, and Kentucky is ready for the businesses of tomorrow.”

The placement represents the fourth consecutive year the commonwealth has placed in the top 10 of the ranking. Kentucky was also recognized with a B- grade for energy infrastructure, behind only two other states. Site Selection noted Kentucky is among the top regional hotspots for potential investment.

Kentucky communities placed strongly in the Top Metros ranking as well. The Cincinnati/Northern Kentucky region placed 3rd in the country (up one spot from 2024), while Louisville was also represented in 7th place.

Earlier this year, Site Selection magazine ranked [ [link removed] ] Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Site Selection also placed [ [link removed]. ] Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Check out the full 2025 Global Groundwork Index rankings here [ [link removed] ].

Kentucky’s latest strong national ranking builds on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling over $43 billion in announced investments, creating more than 63,200 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $20 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park [ [link removed] ] in Hardin County; AESC [ [link removed] ]’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota [ [link removed] ]’s $1.3 billion investment in Scott County; Ford Motor Co. [ [link removed]:*2F*2Fnewkentuckyhome.ky.gov*2FNewsroom*2FNewsPage*2F20250811_FordEV/1/01000198f24507f8-689b22e9-bbfa-49c0-bf76-0aa132caad4f-000000/y72StB18VncdZSgjiW4rnFokWIaDpJFEZxM3yoxiYoo=420__;JSUlJSU!!Db6frn15oIvDD3UI!gTB2jjeidZCZ6dTEN9I0rq7zgmluFqIjVnIo7xYTYEuQOUlvlwowjev3gLgTdwRvcwT3_0QxUkhPALH6sZWnoDQeBIAcat24DJIUSsc%24 ]’s $2 billion commitment in Louisville; and Shelbyville Battery Manufacturing [ [link removed] ]’s $712 million investment, creating 1,572 jobs in Shelby County, among others.

The Governor’s administration also secured [ [link removed] ] the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings [ [link removed] ], S&P Global Ratings [ [link removed] ] and Moody’s Investors Service [ [link removed] ].

Gov. Beshear also announced [ [link removed] ] a new initiative, called New Kentucky Home [ [link removed] ], to increase economic investment, attain and attract talent, and increase tourism across the state.

Information on Kentucky’s economic development efforts and programs is available at "NewKentuckyHome.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

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