Business and the Economy
Magazine Recognizes Kentucky's Economic Development
FRANKFORT – Gov. Steve Beshear Tuesday announced Area Development magazine has recognized Kentucky with a Silver Shovel Award, acknowledging states which were the most successful in creating jobs and securing investments in new and expanding facilities in 2011.
“This is a tremendous honor for Kentucky, and represents hard work by countless individuals working behind the scenes to make the Commonwealth business friendly and attractive to companies of all industries,” Beshear said in a statement issued by his office. “This award does not go to a person, rather Kentucky as a whole, and demonstrates our commitment to creating jobs, encouraging investments and improving our economy.”
With the Summer 2012 issue, Area Development magazine awards four Gold Shovels as well as up to four Silver Shovels in four population categories, with Kentucky’s honor coming in the 3-5 million population tier. The awards are based on a state’s top 10 job-creation and investment projects which began to materialize in the previous year. Kentucky’s top 10 projects resulted in more than 3,000 jobs and $1.3 billion in investments.
“Kentucky’s efforts in attracting job-creating projects in 2011 are being recognized with a Silver Shovel award from Area Development,” Geraldine Gambale, the magazine’s editor, said in a news release. “This is the third time in the award’s seven-year history that Area Development has awarded a Silver Shovel to the Commonwealth. The automotive industry appears to be the big driver behind much of the investment projects Kentucky submitted in order to qualify for this most recent award, as the state continues to build on its advanced manufacturing tradition.”
The 10 projects that made Kentucky a winner were:
· Ford Motor Company in Louisville, 1,300 jobs and $600 million investment
· Flex Films USA Inc. in Elizabethtown, 250 jobs and $180 million investment
· General Motors in Bowling Green, 250 jobs and $131.1 million investment
· Akebono Brake in Glasgow, 224 jobs and $20.6 million investment
· Faurecia Exhaust Systems in Louisville, 218 jobs and $7.1 million investment
· Mubea in Florence, 182 jobs and $46.8 million investment
· Eagle Manufacturing in Florence, 138 jobs and $40.8 million investment
· Hitachi Automotive Products in Berea, 130 jobs and $74.5 million investment
· Wausau Paper in Harrodsburg, 76 jobs and $220 million investment
· Sequa Automotive Group in Morgantown, 280 jobs and $7.2 million investment
For the article and more on Area Development, visit www.areadevelopment.com/awards.