Gov. Beshear: Kentucky Ranks No. 5 Nationally for Business and Infrastructure Investments
Industry publication Site Selection publishes the 2023 Global Groundwork Index
FRANKFORT, KY. (Oct. 23, 2023) – Today, Gov. Andy Beshear announced Kentucky ranks fifth in the nation for business and infrastructure investments in Site Selection magazine’s 2023 Global Groundwork Index.
The ranking factors in business investments that generate jobs, as well as infrastructure investments that help Kentucky families by providing high-speed internet, cleaner water and safer roads and bridges.
Highlighted in the publication was Gov. Beshear’s work with Ohio Gov. Mike DeWine to secure more than $1.6 billion in federal grants that are helping the states construct the Brent Spence Companion Bridge in Northern Kentucky without tolls. The article also cited Gov. Beshear’s remarks from July, when the two Governors awarded the construction contract to Walsh Kokosing, marking a major step forward in the construction process.
“We’re going to be the team that gets the Brent Spence Bridge Corridor Project done – without tolls – and more, benefiting our nation, our economy and most importantly, our families,” Gov. Beshear said while applauding today’s rankings. “Awards like these show that Kentucky is a national leader, and we’re making historic progress.”
The magazine states the rankings were compiled from years of corporate facility investment project activity tracked by Site Selection and were blended with the latest data on infrastructure projects from the Bipartisan Infrastructure Law Dashboard maintained by the General Services Administration.
Site Selection’s ranking further validates the positive economic momentum Kentucky is seeing.
In October, Gov. Beshear said that since the beginning of his administration, the state has now announced nearly 900 private-sector new-location and expansion projects that total $27.5 billion in investments, creating 48,000 jobs. This is the highest investment figure for any governor in state history.
Gov. Beshear has also made it a priority to invest in infrastructure. He has announced the final stage of building four lanes along the entire Mountain Parkway and helped break ground on the first phase of the I-69 interstate project. The Governor has also announced more than $101 million in discretionary funds to repair roads and bridges in all 120 counties, and $197 million in Highway Safety Improvement Project funds to support 235 road safety projects, many of those focused on safety improvements around our schools.
In June, Gov. Beshear secured a nearly $1.1 billion federal grant, the largest public investment in high-speed internet in the state’s history, which will bring affordable, reliable, high-speed internet service to every Kentuckian.
Through a bipartisan agreement between the Governor and General Assembly, the state’s existing Cleaner Water Program, which provides unserved families and businesses access to cleaner water and wastewater systems, has been allocated $500 million in one-time federal funds since 2021.
Last month, the Governor unveiled his “Better Kentucky” infrastructure plan that further funds projects providing clean drinking water, high-speed internet, education and affordable housing to more families and supports business growth by improving roads and bridges, investing in site development and attracting new talent.