Kentucky Press News Service
Site Selection magazine’s annual Governor’s Cup rankings
have placed Kentucky 10th in the nation for new and expanded industry
activity in 2012.
In 2012, Kentucky announced 354 location or expansion projects,
resulting in 14,075 projected new full-time jobs and a capital
investment estimated at nearly $2.7 billion.
Kentucky has finished among the top 15 states in the nation for the last
five years in a row, according to a news release from Gov. Steve
Beshear's office.
“This is another strong showing for Kentucky’s economic development
activity,” Beshear said in the release. “This ranking reflects our
dedication to economic growth, with a focus on attracting new businesses
and supporting the expansion of our existing companies, reaching out to
global markets through exporting, as well as showcasing all of the
strategic advantages Kentucky offers.”
Site Selection, an Atlanta-based publication, has rated the states
annually since 1978. The ranking is based on a state’s total number of
qualified projects as tracked by Conway Data Inc.’s New Plant database.
Qualified projects include those that meet at least one of three criteria:
- Involve a capital investment of at least $1 million;
- Create 50 or more jobs; or
- Add at least 20,000 square feet of new floor space.
During 2012, Kentucky generated 196 projects that met the above
standards for Site Selection’s Governor’s Cup consideration, the news
release said.
“Kentucky’s 10th-place finish in our annual Governor’s Cup facilities
race is evidence that more and more companies are finding in the
Commonwealth the location criteria they require in today’s economy,”
said Mark Arend, editor in chief of Site Selection. “My colleagues and I
congratulate Gov. Beshear, his economic development team and the local
and regional economic development professionals who worked to make
Kentucky the right location choice for so many expanding companies.”
Conway Data’s rankings are regarded by corporate real estate analysts as
“the industry scoreboard.” The magazine’s circulation base consists of
44,000 executives involved in corporate site selection decisions.
In addition to the Governor’s Cup, Site Selection recognizes top
metropolitan and micropolitan areas for their economic development
successes. The Top 10 Metro Areas Ranking rated Lexington seventh in the
Tier 2 class (population 200,000 to 1 million).
Kentucky ranked fifth in the nation for number of communities making the
magazine’s Top Micropolitans list, with 10 communities making the cut.
The article and rankings can be viewed in their entirety at
www.siteselection.com.