FRANKFORT, Ky. (Oct. 8, 2015) – Kentucky pays tribute this month to one of its largest and most significant sectors as Governor Steve Beshear proclaimed October Manufacturing Month in the Commonwealth.
“Manufacturing stands as a pillar of Kentucky’s economic success, and the industry has seen substantial growth in recent years,” said Gov. Beshear. “Every dollar spent in manufacturing in the Commonwealth generates 44 cents toward our state’s economy. With Manufacturing Month, we recognize and applaud the hard work and dedication of the companies and employees who make Kentucky’s manufacturing sector so vibrant.”
The Commonwealth is home to more than 2,400 manufacturing facilities. These companies contributed more than $36 billion to Kentucky’s economy last year and approximately 235,000 jobs.
Kentucky-made products represent to the U.S. and global markets the innovation, diligence and abilities – both broad and specialized – of the Commonwealth’s workforce.
Manufacturing in Kentucky continues to grow. Last year, 252 manufacturers announced facility expansions or new locations in Kentucky, creating a projected 7,724 jobs and more than $3.1 billion in investments. Through September, announcements totaled 150, with 3,831 jobs and more than $1.5 billion in investments. Each year, manufacturing announcements accounted for more than 70 percent of all announced projects.
In the past five years, Kentucky’s overall GDP increased by 3.2 percent. The manufacturing numbers reflect even greater growth, with an increase of 6.1 percent in GDP over that time.
Kentucky’s exports also connect directly to the manufacturing sector. Last year, the Commonwealth exported a state record $27.5 billion to nearly 200 countries. That’s a 9 percent increase over the previous year compared with the national average of just over 2 percent. Kentucky’s top exports by dollar amount are aerospace products, motor vehicles and parts, synthetic rubber and resin and pharmaceuticals.
To celebrate Manufacturing Month, the Commonwealth is joining with the Kentucky Association of Manufacturers (KAM) to honor Kentucky’s manufacturers and their employees.
Members of the public can participate in any of 30 programs scheduled across the state for Manufacturing Month. KAM events include “Go, See, Learn & Share” open houses, plant tours and school field trips across the state throughout October, a Military to Manufacturing program at the Sloan Convention Center in Bowling Green on Oct. 13 and a Women in Manufacturing event at the Marriott Griffin Gate in Lexington on Oct. 29. To find an event nearby, click here.
“This year, we are actively promoting and celebrating manufacturing throughout the month of October in Kentucky,” said Greg Higdon, KAM’s president and CEO. “We are thrilled at the level of participation that is planned this month as manufacturers open their doors to parents and students, community groups and local policy makers.”
For a list of events and more information on Manufacturing Month, visit www.kam.us.com.
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.