Gov. Beshear Celebrates Best First Quarter in Kentucky History, Marking $50 Billion in Investment and 70,000 New Jobs

Gov. Beshear has secured more private sector investment than any Governor in Kentucky history, $29 billion more than the next highest total

FRANKFORT, Ky. (May 20, 2026) - Gov. Andy Beshear is celebrating the best first quarter in Kentucky history for economic investment, bringing the total secured under his leadership to over $50 billion and creating more than 70,000 new jobs. The Governor's administration has also secured the highest three-year average for new wages in state history, with the 2025 average just under $30 an hour. The average 2026 incentivized wage through April has risen to $31.50.

"While the national economy is struggling due to rising prices and bad policy decisions, we're reigniting the American Dream in Kentucky and creating good-paying jobs for our people," Gov. Beshear said. "By bringing in more investment and creating these opportunities, we're working to ensure our people can live a good life while our communities continue to grow and thrive."

With Kentucky's record first quarter - from Jan. 1 through March 31 - and additional approved investments in April of this year, the Governor has highlighted over $7 billion in announced and approved investment. Some of those projects include:

• The single largest investment in Western Kentucky history as Global Laser Enrichment shared plans to develop the Paducah Laser Enrichment Facility, a $1.76 billion project that will create 240 new positions in McCracken County, with wages of $62 per hour, including benefits;
• Toothsure's plans to establish a new operation in Perry County with a $7.3 million investment, creating 60 new, full-time jobs at a wage of $55.25 per hour, including benefits;
• Averitt's plans to build a regional campus in Bullitt County with a $113 million investment, retaining 182 jobs and creating 64 new, full-time jobs paying an average wage of $43.60 per hour, including benefits;
• Green Energy Parks' plans to locate a new $142 million agricultural waste-to-energy facility in Arlington that will create 20 positions paying an average hourly wage of $105, including benefits; and
• ARMOR-IIMAK's plans to expand its Boone County operation with a $6 million investment, creating 44 new full-time jobs at a wage of $37.30 per hour, including benefits.

These plans build on other historic announcements the Governor and his administration have secured, including 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 record-breaking 1,300 private-sector new-location and expansion projects are a highlight of the overall economic success the commonwealth has seen under Beshear's leadership.

In February, the Governor announced Kentucky once again set an all-time record for products shipped globally, with $50.6 billion in exports in 2025, representing a 5.65% increase over 2024.

Unemployment rates fell in all 120 counties between December 2024 and December 2025.

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.

Earlier this year, Site Selection magazine ranked Kentucky in the top five 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 No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

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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