Kentucky sees $10.5 billion in new investments in 2022

Kentucky continued to see historic economic growth in 2022, Gov. Andy Beshear announced Tuesday.

Following record investments in 2021, Beshear said this year is Kentucky’s second highest year for new investments with nearly $10.5 billion from 248 private-sector new location and expansion projects which will create 16,000 new full-time jobs.

“It has been a year of new opportunities, and we have many reasons to believe the future has never been brighter in the commonwealth. Not only does this year mark the best two-year period for economic growth in Kentucky, it also brought significantly increased wages for Kentucky families, a record high for investment in the bourbon and spirits industry, and a diverse economy that now includes the rapidly growing electric-vehicle sector that can support our workforce for generations to come. I want to thank every company that has put down roots in the commonwealth and put their faith in Kentuckians,” Beshear said Tuesday.

“While economic uncertainty looms on the horizon, the foundations of Kentucky’s economy remain strong, thanks in large part to pro-business policies championed by the Chamber and passed by the legislature in recent years. Policies like tax reform, investments in education and child care, and regulatory improvements have put Kentucky on a path to strong economic competitiveness,” Kentucky Chamber President and CEO Ashli Watts said.