Bevin: Kentucky breaks record for business investments
FRANKFORT, Ky. (AP) – Gov. Matt Bevin says Kentucky has surpassed its record for business investments in less than half a year. The record pace has been fueled by three separate billion-dollar announcements.
The Republican governor said Friday that business investments in the state already top $5.8 billion. The previous yearly record was $5.1 billion in 2015, the final year of former Democratic Gov. Steve Beshear’s term.
This year’s investments have been padded by mega-announcements from online retailer Amazon, Toyota and most recently from Braidy Industries, which plans to build an aluminum plant in Kentucky.
The state offered tens of millions in tax breaks in return. It comes as officials struggle to fix a pension system facing a massive shortfall.
Democrats caution that Bevin’s announcement is based on investment estimates that haven’t happened yet.
Copyright 2017 The Associated Press.