FRANKFORT, Ky. (June 19, 2017) – Gov. Matt Bevin, Cabinet for Economic Development Sec. Terry Gill, other state officials and business representatives will attend the 52nd International Paris Air Show in France this week to discuss new business and expansion opportunities with aviation and aerospace executives from around the globe.
“Kentucky is a top location in the U.S. for aviation and aerospace engineering, manufacturing and R&D. We offer formidable advanced-manufacturing resources and experience, plus workforce programs that set the bar nationally, logistics hubs that deliver products nearly anywhere globally overnight, and a network of available sites and buildings in attractive communities,” Gov. Bevin said. “Meetings we have scheduled with corporate executives during the Paris Air Show will give us the opportunity to demonstrate how Kentucky meets their needs and provides the environment for long-term success.”
First held in 1909, the Paris Air Show is the world’s largest aerospace event. It brings together key players in the aerospace industry to pursue business deals, showcase technology and develop industrial partnerships.
“Aerospace has been one of the fastest growing industries in Kentucky for several years now, and it is important we use every opportunity to build upon that success,” Sec. Gill said. “The Paris Air Show provides the greatest opportunity to do just that. The ability to meet in person with aerospace executives from around the world and discuss Kentucky’s many advantages will go a long way toward developing new relationships and strengthening those we have already established.”
Across Kentucky, the aerospace industry is on the rise.
Through May 2017, Kentucky announced more than $1.3 billion in investment by aerospace-related companies. Projects include the nation’s first aluminum rolling mill built on a greenfield site in more than a generation. The Braidy Industries mill, expected to open in 2020, will produce high-strength aluminum alloy sheet for the aviation and aerospace industry as well as other sectors. The investments are expected to create nearly 600 full-time jobs.
Already, the aviation and aerospace sector is a pillar of Kentucky’s economy. It employs nearly 17,000 people statewide at almost 80 different manufacturing, service and technology-related facilities. Advanced manufacturers of carbon brakes, jet engines and turbines, cockpit avionics, wiring and control systems, micro satellites, software development, data analytics, advanced materials R&D, micro-gravity research services, industry logistics and support services and missile defense system manufacturing and overhauling.
Aerospace products and parts continue to be Kentucky’s top export category, with more than $10.8 billion in products shipped abroad in 2016. Nearly $2.9 billion in aerospace products were exported from the commonwealth in the first quarter of 2017, a 9.4-percent increase over the same months a year ago.
To learn more about Kentucky’s aerospace industry, visit http://thinkkentucky.com/Aerospace/.
This year’s Paris Air Show will include more than 2,300 exhibitors with more than 130 aircraft scheduled to be on display.
In 2015, the air show shattered its previous attendance records with more than 350,000 visitors, including more than 4,300 journalists from 72 countries.
To learn more about the Paris Air Show, visit www.siae.fr/en/.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.