Marking Milestone, Four Years in the Making;
The largest economic investment and jobs announcement in Kentucky’s history officially begins production; solidifies commonwealth as EV battery production capital of US
Gov. Andy Beshear announced that production of electric vehicle (EV) batteries officially began today in Glendale at the BlueOval SK Battery Park, the largest economic investment and jobs announcement in state history. The production milestone comes after the September 2021 announcement, where the Governor and company leaders celebrated the transformative $5.8 billion investment by Ford Motor Co. and SK On that is set to create 5,000 jobs – 1,450 of which are already filled.
“Today, Kentucky marks a historic milestone four years in the making as production officially begins at two of the largest battery plants in the world, set to deliver EV batteries that will transform the automotive industry and the future of our commonwealth,” said Gov. Beshear. “This remains the single largest investment in the history of our state, and it sparked a surge of new investment and job announcements that placed Kentucky at the center of EV-related innovation. I am grateful to Ford and SK On leaders for believing in Kentucky and our workforce. Now is the time to do what we do best as Kentuckians: deliver results.”
In September 2021, Gov. Beshear, Ford Motor Co. and SK On announced plans to build two electric battery plants on the 1,551-acre economic development site near Interstate Highway 65 in Glendale. Officials broke ground on the site late in 2022. To support workforce development for the site, the state committed $25 million to support the Elizabethton Community and Technical College (ECTC) Blue Oval SK Training Center, which leaders broke ground on in May 2023.
The production news comes just days after Gov. Beshear joined Ford Motor Co. CEO Jim Farley, other company executives and local officials to announce a nearly $2 billion investment – the third largest in state history – at the Louisville Assembly Plant (LAP) to serve as the platform for an all-new, yet to be unveiled, electric mid-size pickup truck.
Ford’s August 2025 investment builds on the best five-year period for economic growth in state history, including $13.1 billion in EV-related investments from companies across the globe following the BlueOval-SK On announcement.
Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling close to $40 billion in announced investments, creating nearly 63,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and over $18 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.
The Governor’s administration also secured 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, S&P Global Ratings and Moody’s Investors Service.
Earlier this year, Site Selection magazine ranked 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 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.
Gov. Beshear also announced a new initiative, called New Kentucky Home, 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. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
