2025 Governor’s Cup: Kentucky Nationally Recognized Once Again, Places Top 5 for Economic Development Projects Per Capita

17 Kentucky communities recognized in Top Metropolitan, Micropolitan rankings

FRANKFORT, Ky. (March 3, 2026) - Today, Gov. Andy Beshear announced that Kentucky once again has secured its place in the top five for economic development projects per capita as Site Selection magazine posted its 2025 Governor's Cup rankings. The commonwealth has held a top-five ranking during all six years of the Beshear administration.

"2025 was the second-best year on record for Kentucky's surging economy, and the commonwealth's recognition in this national ranking further highlights our unprecedented economic growth across the entire state," said Gov. Beshear. "We are laying the foundation for long-term success in our communities, and companies are recognizing the advantages and potential of locating and doing business right here in their New Kentucky Home. This is a well-deserved recognition for our state and all that we accomplished last year, but the work does not stop. We are excited to build off of this momentum in 2026 and continue working to secure a better future for all Kentuckians."

In the South Central region, Kentucky placed second for projects per capita, and third for total projects with 182 announcements that meet Site Selection's criteria in 2025.

In addition to the commonwealth's strong placement in the South Central region, several Kentucky communities were recognized for their economic success in 2025, with categories based on population size.

The Northern Kentucky/Cincinnati region and Louisville/Jefferson County each took spots in the top 10 for metros per capita for populations over one million, in addition to Northern Kentucky/Cincinnati placing ninth in total projects with 110.

Lexington/Fayette County tied for fourth in total projects for metros with populations between 200,000 and 1 million and sixth in projects per capita.

Bowling Green, for the third year in a row, placed in the top three among metro areas by total projects with populations under 200,000, with 16 announcements in 2025. The community also placed sixth in the projects per capita category.

Additionally, thirteen Kentucky communities placed in the Top Micropolitans rankings by number of projects - the second most nationally - including Franklin, Glasgow, Richmond-Berea, Campbellsville, Frankfort, Corbin, Danville, Henderson, Madisonville, Mayfield, Mount Sterling, Somerset and the Union City, Tennessee area, which includes Fulton County, Kentucky. Glasgow's ranking is the highest in the community's history (tied for ninth).

Since 1988, Atlanta-based Site Selection has awarded the Governor's Cup annually to the U.S. state with the most new and expanded corporate facilities as tracked by the Conway Projects Database. The rankings are regarded by corporate real estate analysts as an industry scoreboard. The magazine's circulation reaches 42,000 executives in corporate site selection decision-making roles.

Last year, Site Selection magazine ranked Kentucky fifth nationally and second in the South Central region for economic development projects per capita in its 2024 Governor's Cup rankings. Site Selection also placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Kentucky's recognition in the 2025 Governor's Cup builds on the best six-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $45 billion in announced investments, creating more than 68,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history and $24 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC's $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.'s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and Toyota's $1.3 billion investment in Scott County, among others.

The Governor's administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody's Investors Service.

Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

Information on Kentucky's economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.

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Click here for a video from Gov. Beshear.