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Gov. Welcome Letter
Kentucky Business Reports
Top 10 Reasons for Locating or Expanding Your Business in Kentucky
We’re in the middle of everything.
Located at the center of a 34-state distribution area in the eastern United States, Kentucky’s location advantage facilitates the distribution of goods and materials to a massive industrial and consumer market. Kentucky’s borders are within 600 miles of over 60 percent of the nation’s population, personal income and manufacturing business establishments. That helps when you have to move product, meet with a customer, or close a sale.
We’re a logistical dream.
Kentucky business is served by not one but two major shipping hubs, giving companies a leg up on getting products, papers and packages into the global stream of commerce. Thanks to the UPS Worldport in Louisville and DHL in Northern Kentucky, Kentucky ranks 3rd in the nation in total air cargo shipments.
Kentucky is well-served by 14 interstates and major highways, major rail networks, barge traffic on the Ohio and Mississippi rivers, three major airports and dozens of regional airports. Our ideal transportation network makes it easy to reach all points of the globe easily and efficiently.
Cost of Doing Business.
Kentucky has consistently had one of the lowest overall costs of doing business in the eastern United States. In a CNBC Special Report,
America’s Top States for Business - 2012
, Kentucky's business cost were ranked the lowest in America. Kentucky’s innovative and progressive tax incentive programs can also provide the flexible financial assistance businesses need when locating, expanding or reinvesting in the state.
Electrifying power rates.
Among the more significant location factors having a direct influence on bottom-line costs is the annual capital that must be committed to utility consumption. Kentucky has the lowest cost of electricity in the industrial sector among states east of the Mississippi River and the 4th lowest in the U.S., coming in at more than 25 percent lower than the national average.
Competitive tax structure.
According to a 2012 Tax Foundation, Kentucky ranks as the 7th most business-friendly state in the country for new firms and is the 6th lowest tax cost state for new corporate headquarters.
A skilled and motivated workforce.
The Commonwealth has built a strong reputation for meeting and exceeding industry needs, providing companies with a skilled and available workforce to meet the demands of a global economy. Our educational partners work closely to train workers in industry-specific skill sets, and our ability to provide the flexibility and customization that companies require sets us apart. Additionally, the friendly, hard-working people of Kentucky possess an unbridled spirit that can literally boost your bottom line. The people here are genuine - a mix of southern charm with a Midwestern work ethic.
Kentucky is open for business and wants to be a strategic partner with both new and existing companies to create opportunities for all. Whether a company is looking for a competitive tax climate, progressive incentive programs, an ideal location, or an unsurpassed quality of life, Kentucky offers the “can-do” workforce and business climate companies need to succeed.
Strong support for innovation and entrepreneurship.
Kentucky’s drive to encourage business innovation and small business startups is evident by the array of unique and effective programs offered across the state. From small business loan programs and a nationally recognized SBIR-STTR Matching Funds Program to a statewide network of Innovation and Commercialization Centers that supports the development of innovation-driven, technology-based companies, Kentucky’s entrepreneurial spirit is alive and well.
Unsurpassed quality of life.
Life outside the office just couldn’t be better than it is in Kentucky. Our breathtaking countryside is home to the heart and soul of America’s thoroughbred industry. Our bluegrass music, crafts and fine arts are known around the world. Our state parks are among the finest in the nation. Kentucky also offers one of the nation’s lowest cost of living and housing costs up to 30 percent lower than the national average.
Kentucky Cabinet for Economic Development Old Capitol Annex 300 West Broadway Frankfort, KY 40601
502-564-7140 (local) 800-626-2930 (toll free)
© 2009 Kentucky Cabinet for Economic Development
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