LEXINGTON, Ky. (WTVQ) – Site Selection magazine named Kentucky as the top state for economic development projects per capita for 2015
Governor Steve Beshear was presented with the historic Governor’s Cup earlier this year, and said he will be taking it around Lexington to celebrate the momentous achievement that the trophy implies.
“Think about where we were seven years ago when Kentucky’s unemployment rate was 11 percent and business growth was at a near standstill,” Gov. Beshear said. “We’ve come so far. Our statewide unemployment rate is now 5.1 percent, and the Governor’s Cup is further proof of the fruits of our labor. This success would not have been possible without this community’s dedication to supporting businesses, creating jobs and making Kentucky a better place for all of us.”
Kentucky’s unemployment rate has been steadily falling in recent years, says officials, with Fayette county alone announcing 115 expansion projects projected to create over 3,700 jobs.
The Trophy’s winner is calculated by the number of projects that involve a capital investment of at least $1 million, create 20 or more jobs, or add at least 20,000 square feet of new floor space.