Kentucky has earned its second consecutive Gold Shovel Award from the national publication Area Development, which cited the Commonwealth’s strong gains in attracting new businesses and growing jobs.
Each year, Area Development awards only one Gold Shovel Award for states with populations between 4 million and 6 million. Kentucky has now won the award for the past two years. The publication also named AESC, formerly known as Envision AESC, as a 2023 Manufacturing Project of the Year.
“We continue to see record-breaking economic development in Kentucky, and we are only going to build on that momentum,” said Gov. Andy Beshear. “Thank you to everyone who has contributed to our continued success, especially our hard-working Kentuckians and growth-minded communities and companies. This recognition shows the rest of the country that Kentucky really is the best place to do business.”
Area Development’s annual Gold and Silver Shovel Awards recognize states for their achievements in attracting high-value-added investment projects that will create a significant number of new jobs in their communities. The awards are based on a combination of weighted factors, including the number of new jobs to be created in relation to the state’s population, the combined dollar amount of the investments, the number of new facilities and the diversity of industry represented.
Five states achieving the highest weighted overall scores are awarded Gold Shovels in five population categories: 10 million-plus, 6 million to 10 million, 4 million to 6 million, 2 million to 4 million and fewer than 2 million.
The Governor joined AESC company leaders last year to announce the state-of-the-art AESC facility in Bowling Green is helping lead the way in Kentucky’s electric vehicle (EV) sector as the $2 billion project will create 2,000 new full-time jobs in the region. AESC will produce battery cells and modules to power next-generation EVs by multiple global automotive manufacturers, supporting up to 300,000 vehicles annually by 2027.
Governor’s office