Kentucky has a variety of strengths that make it the best place to do business in the U.S., from low utility costs to unmatched logistical advantages. Check out just a few of the reasons the Bluegrass State is the right place to grow your business.
Top 10 Reasons for Locating or Expanding Your Business in Kentucky
- 1. We’re in the middle of everything.
Within a day’s drive of two-thirds of the U.S. population, Kentucky is located at the center of a 34-state distribution area in the eastern United States, Kentucky’s location advantage facilitates the distribution of goods and materials to a massive industrial and consumer market. Kentucky’s borders are within 600 miles of over 65 percent of the nation’s population, personal income and manufacturing business establishments. That helps when you have to move product, meet with a customer or close a sale.
- 2. Unmmatched logistics.
Kentucky ranks 2nd in the nation in total air cargo shipments. That is because Kentucky business is served by not one but two international airports plus three global shipping hubs, giving companies a leg up on getting products, papers and packages into the global stream of commerce. Kentucky is home to the UPS World Port, DHL Americas hub in Northern Kentucky, the Amazon Air global port in Northern Kentucky and several large FedEx ground hubs throughout the state. Due to this strong presence by the world’s most prestigious logistics companies, products manufactured in Kentucky can get anywhere in the world virtually overnight.
- 3. Effective networking.
Kentucky is well served by 20 interstates and major highways, major rail networks, barge traffic on the Ohio and Mississippi rivers, five commercial airports and dozens of regional airports. Our ideal transportation network can move products easily and efficiently by air, rail, road and water to all points of the globe.
- 4. Cost of Doing Business.
Kentucky ranks 1st in the nation for cost of doing business according to CNBC. Kentucky’s innovative and progressive tax incentive programs also provide the flexible financial assistance businesses need when locating, expanding or reinvesting in the state.
- 5. Electrifying power rates.
Among the more significant location factors having a direct influence on bottom line costs is the annual capital that must be committed to utility consumption. Kentucky has the lowest cost of electricity in the industrial sector among states east of the Mississippi River and one of the lowest in the U.S., coming in nearly 20 percent lower than the national average.
- 6. We’re training the workforce of the future.
Kentucky offers workforce recruiting and training assistance for new and existing employees at no charge. We also offer a personalized approach to your workforce needs – you tell us what you need, and we custom-design a solution, saving you time and money. Last year alone, we trained more than 95,000 people and supported more than 5,000 companies.
- 7. Business-minded educational approach.
Kentucky colleges and universities are true partners in the development of the workforce of the future. They understand the needs of business. In fact, from innovative K-12 schools and apprentice-style training to cutting edge research universities and continuing education programs, education is a way of life in Kentucky.
- 8. Strong support for innovation and entrepreneurship.
Kentucky’s drive to encourage business innovation and small business startups is evident by the array of unique and effective programs offered for both entrepreneurs and investors. Our KY Innovation office offers startup and capitalization assistance as well as mentoring to help small businesses turn big ideas into reality.
- 9. Unsurpassed quality of life.
With one of the lowest cost of living rates in the U.S., your dollars go further in Kentucky! The cost of living is more than 10 percent lower in Kentucky than the U.S. average, and housing costs alone are up to 30 percent lower. Plus, life outside the office just couldn’t be better than it is in Kentucky. Our breathtaking countryside is home to the heart and soul of America’s thoroughbred industry. Our bluegrass music, crafts and fine arts are known around the world, and our state parks are among the finest in the nation.
- 10. Business-friendly attitude.
Businesses want fast, efficient and personalized service, and Kentucky provides it. We listen to you, help identify your needs and then we work with you one-on-one to devise solutions that will maximize your success while lowering your cost of doing business in Kentucky. Whether you are across the street or across the globe our team is eager to assist your business in Kentucky.