October 9, 2020

Rural Projects, Company Helping Fight COVID Highlight September Growth in Kentucky

A number of job-creating projects across the state took a step forward in the month of September, with Gov. Andy Beshear announcing three projects combining for more than 200 expected new jobs and approximately $25 million in planned investment.

Of the continued economic development announcements, Gov. Beshear said, "It shows that we are continuing to make sure that we are attracting the types of jobs here in Kentucky that we truly need to compete in the next 10, 20, even 30 years."

One project, Summit Biosciences, received final approval for incentives at the Kentucky Economic Development Finance Authority's (KEDFA) July meeting, while two projects received preliminary approval for performance-based incentives during the September meeting.

In total, nine companies received preliminary approval from KEDFA for incentives during the September meeting, with the potential for $168 million in future investment and nearly 260 new jobs.

Since Gov. Beshear took office last December, the state has seen 166 new-business-location and existing-facility-expansion announcements totaling nearly $1.8 billion in planned investment, which plan to create more than 6,800 new full-time jobs.