Kentucky Shows Significant Economic Growth in First Half of 2021, Topping $2 Billion in Total Investment
17 Jun 2021
FRANKFORT, Ky. (June 17, 2021) – At the midway point of 2021, Kentucky’s year-to-date new location and expansion announcements show an economy resurging from the challenges of the past 15 months and positioning the commonwealth for significant, sustained growth in the years ahead, Gov. Andy Beshear announced today.
Since January, private-sector companies announced 50 new location and expansion projects totaling more than $2 billion in new investments and 4,000-plus full-time jobs for Kentuckians.
“Each of these companies is betting on Kentucky because they’re seeing what we’re seeing: an economy that’s lifting off and a dedicated workforce that’s ready to seize new, high-quality opportunities,” said Gov. Beshear. “2021 is off to an incredible start and we’re still gaining momentum.”
Through May, the average incentivized hourly wage for projects announced in Kentucky in 2021 was $23.15 before benefits. That represents a 4.7% increase over last year’s average wage of $22.11, which was the second highest mark of the past six years.