FRANKFORT, Ky. (June 16, 2017) - Gov. Matt Bevin, Kentucky Cabinet for Economic Development leaders Sec. Terry Gill and Executive Officer Vivek Sarin, and officials from KentuckyUnited will attend the 2017 SelectUSA Investment Summit in Washington D.C. next week, engaging with executives from companies around the world and working to develop opportunities for investment and job creation in the state.
Gov. Bevin is scheduled to speak at the summit on Monday, reaffirming the state’s commitment to building a welcoming environment for global companies and discussing the state’s actions to do so. Attracting international investment creates news jobs for Kentuckians and positive economic impact for communities across the state.
“We’re making tremendous strides in growing Kentucky’s business community. Already this year, we shattered the commonwealth’s all-time, full-year corporate investment record. Companies the world over are discovering our many advantages, including a central geographic location, a robust logistics industry, a highly skilled workforce, low energy costs, excellence in engineering and manufacturing and our increasingly strong pro-business climate,” Gov. Bevin said. “Business expansion in Kentucky is on a roll and internationally owned companies – which already employ more than 105,000 Kentuckians – and domestic businesses alike, are taking notice.”
The three-day summit begins Sunday at the Gaylord National Resort and Convention Center. This year’s theme, “Grow with US,” will focus on the nation’s innovative business climate.
Terry Gill, secretary of the Kentucky Cabinet for Economic Development, said the theme reflects across Kentucky.
“Kentucky’s success in attracting new corporate investment this year puts us on track to create the highest number of new jobs in a decade,” he said. “We’re helping put in place innovative workforce-development programs that ensure our current and future corporate partners can hire the skilled employees they need. These efforts adjoin the many advantages our state already offers to internationally based businesses.”
Kentucky is home to nearly 500 internationally owned business facilities, including manufacturing plants, corporate offices, logistics providers, service-related companies and tech firms and research operations. This year through May, the state announced nearly $1.77 billion in foreign direct investment (FDI), which is expected to create 2,160 jobs.
FDI accounts for about one-third of the record-breaking nearly $5.8 billion investment announced in Kentucky through May, as well as approximately 23 percent of the 9,500-plus jobs announced this year.
Hal B. Goode, president and CEO of the Kentucky Association for Economic Development, said the opportunities Kentucky offers for investment from international corporations will connect with the SelectUSA audience.
“Kentucky offers outstanding and enticing benefits for foreign direct investment and SelectUSA gives us and our partners in KentuckyUnited the venue to these opportunities to business influencers and decision makers from across the world,” Goode said. “In addition to the work by cities counties and communities across the commonwealth to prepare for economic development success, we will be promoting Kentucky’s recent policies and programs in workforce development and business-climate improvement.”
KentuckyUnited is a public-private partnership of state, local and regional economic development organizations, utilities and private corporations, formed to market Kentucky’s business advantages to site location consultants and companies interested in siting a new location, expansion or relocation.
SelectUSA, which promotes foreign direct investment in the US, will offer networking opportunities for state, regional and local economic development officials to make their pitch to global investors. Keynote speakers and exhibitors will be on hand to discuss various investment opportunities and to showcase how FDI is a driver of economic development throughout the nation.
In 2016, more than 2,500 people participated in the summit from 70 markets and 52 states and territories.
SelectUSA is the US Government-wide program that promotes and facilitates business investment in the US. The organization provides services to international investors of all sizes and US state, regional and economic development organizations working across the federal government.
To learn more about SelectUSA or the 2017 Investment Summit, visit www.selectusa.gov.
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 2017 totaled a state record $9.2 billion, spurring more than 17,200 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.