INVESTING IN KENTUCKY S U P P O RT I N G G R E E K C O M PA N I E S I N T H E U S M A R K E T Presented By: Morgan Pierstorff, Executive Director Kentucky European Representative Office
HOW WE CAN CAN HE HELP LP Site Evaluation Services Detailed Community Data Connect you to resources and expertise Incentive and training inducements Workforce Services Assistance obtaining required permits and licenses
Kentucky Derby KENTUCKY IS RI RICH CH IN IN TRAD TRADITION ITION Bourbon President Abraham Muhammad Ali Colonel Harland Lincoln Sanders
ABOUT KENT KENTUC UCKY KY Population of KY: Average Commute: Housing Costs Temperate Climate 4.4+ million 22 minutes Are 30% lower in & located in the Kentucky Eastern Time Zone
OUR MISS MISSION ION The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging job creation, business retention and new investment in the state. Create Jobs Engage Communities Focus On Advanced Support Existing Industry Manufacturing Foster A Positive Business Provide A Trained Workforce Climate Build Relationships Attract FDI
KENTUCKY’S TOP INDUST IND USTRY SE Y SECT CTOR ORS AEROSPACE FOOD + LIFE AUTOMOTIVE DISTRIBUTION CHEMICAL + DEFENSE SCIENCES BEVERAGE + LOGISTICS
FOREIGN DIRE FOREIGN DIRECT CT INVESTMENT INVESTME NT IN 2018 35% 25% 20% 35% of Kentucky’s 25% of Kentucky’s 20% of Kentucky’s announced investment announced new jobs announced new locations came from FDI. came from FDI. and expansions came from FDI.
European Fir Firms ms in in Kentu entucky There are currently 215 European-owned facilities operating in Kentucky that employ more than 36,000 full-time employees. Recent announcements in Kentucky include: UK Diageo Americas Supply Inc., $130M RKW North America, $18M DE FR Fives Intralogistics Corp, $15M DE Webasto Roof Systems Ince, $15M RU Braidy Industries ( Rusal ), $1.7 B
GLOBALLY CONNECTED CONNECTED
Source: Nasa.gov
CENTRALLY LOCA OCATED TED Kentucky is located within a day’s drive of 2/3 of the U.S. population Some of the nation’s largest cities are located within a two-hour flight of Kentucky’s borders Kentucky is located at the center of a 34-state distribution area in the Eastern U.S.
GLOBALLY CONN CONNECTE ECTED Kentucky 3 worldwide air cargo hubs Covington (UPS, DHL and Amazon) Frankfort Lexington 6 commercial airports, including 2 international and 60+ regional Louisville 10 interstates and 10 state parkways 2,760 miles of rail track , including 2,600 miles of freight rail 2,000 miles of navigable waterways and 12 active or developing river ports Major Cities Airport Riverport Bowling Green Interstate Parkway Rail Line Water
HOW KENTUCKY MEASUR MEASURES UP ES UP Ranked 2 nd TOTAL Industrial electric rates Received an #1 choice for 20 PERCENT “A” GRADE AIR CARGO FDI manufacturing LOWER for manufacturing and logistics SHIPMENTS projects industry health than US average nationally (The fDi Report 2018) (Conexus Report 2018) (Energy Information (Federal Aviation Administration 2018) Administration)
A PRO-BUSINESS APPROACH TO ECONOMIC DEVELOPMENT Matt Bevin Vivek Sarin Governor Executive Officer
FULFILLING A VISION VISION We will become the hub of engineering and manufacturing excellence in America… This will start with having the most highly skilled and well-trained workforce in the country. -Governor Matt Bevin
PR PROGRESS OGRESS DURING THE BEVIN ADMINISTRATION 51,378 $19.45 1,000+ NEW JOBS BILLION NEW PROJECTS NEW INVESTMENT
PREP PREPAR ARE E FOR FUTURE FOR FUTURE GR GROWTH WTH Increase building Evaluate/update Improve/increase inventory & soft regulatory workforce numbers environment landing space and quality
Incr Increasing easing In Invento entory y $18 million Product development initiative Soft landing space in Kentucky’s Innovation Centers
We’re Cutting RED RED TAPE! APE! 529 760 Goal: eliminate 1/3 of all regulations in 3 years. Legislature placed sunset provision on all regulations
The Kentucky Skills Network offers employee recruitment WORKFORCE and customized skills training – at no charge TRAINING REV REVOL OLUTIO UTION More than $200 million invested into workforce training facilities Expansion of the KY FAME apprenticeship program Growth of Work Ready Communities Last year, the Kentucky Skills Network provided training for 95,000 people and 5,000 companies
THANK YOU Presented By: Morgan Pierstorff, Executive Director Kentucky European Representative Office Mobile: +49 151 64433561 Morgan.Pierstorff@thinkkentucky.eu www.thinkkentucky.eu
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