FRANKFORT, Ky. (May 20, 2026) — Kentucky has surpassed $50 billion in private-sector investment commitments and more than 70,000 announced new jobs under Gov. Andy Beshear’s administration, setting a new benchmark for economic development activity in the commonwealth and marking the strongest first quarter on record.
According to the Governor’s office, the administration has secured more private-sector investment than any previous administration in Kentucky history, exceeding the next highest total by approximately $29 billion. Kentucky also recorded its highest three-year average for new wages in state history, with average incentivized wages for projects approved through April 2026 reaching $31.50 per hour.
The state’s record first quarter, spanning Jan. 1 through March 31, combined with additional projects approved in April, generated more than $7 billion in announced and approved investment activity.
Major projects contributing to Kentucky’s momentum include:
- The largest investment in western Kentucky history, with plans by Global Laser Enrichment to develop the Paducah Laser Enrichment Facility through a $1.76 billion investment in McCracken County, creating 240 jobs with wages averaging $62 per hour including benefits;
- Toothsure plans to establish a new operation in Perry County through a $7.3 million investment expected to create 60 jobs with average compensation of $55.25 per hour including benefits;
- Averitt announced plans for a $113 million regional campus in Bullitt County that will retain 182 jobs while adding 64 new positions with average compensation of $43.60 per hour including benefits;
- Green Energy Parks plans to establish a $142 million agricultural waste-to-energy project in Arlington, creating 20 jobs with average compensation of $105 per hour including benefits; and
- ARMOR-IIMAK announced a $6 million expansion of its Boone County operation, creating 44 jobs with average compensation of $37.30 per hour including benefits.
These projects build on several major investments announced in recent years, including a $2 billion battery manufacturing facility by AESC expected to create 2,000 jobs; a combined $4 billion investment by Ford Motor Company supporting more than 4,300 jobs across Louisville and Hardin County; a $712 million investment by Shelbyville Battery Manufacturing creating 1,572 jobs; and a $1.3 billion expansion by Toyota Motor Corporation.
The administration noted that more than 1,300 private-sector new-location and expansion projects have been announced during the current administration, contributing to broader economic growth indicators across the state.
Kentucky also reached a record $50.6 billion in exports during 2025, representing a 5.65% increase over the previous year. Additional indicators highlighted by the administration include declining unemployment rates across all 120 counties, record state budget reserves and job totals exceeding two million positions statewide.
National rankings have also reflected Kentucky’s recent momentum. Kentucky placed among the top five states nationally and second in the South Central region in 2024 Governor’s Cup rankings from Site Selection Magazine for economic development projects per capita. The state also ranked No. 6 nationally and second in the South Central region in the publication’s 2025 Prosperity Cup rankings.
State leaders have also launched the “New Kentucky Home” initiative, an effort focused on attracting investment, supporting workforce growth and increasing tourism activity across the commonwealth.
