Gov. Andy Beshear announced Kentucky has once again placed in the top five for economic development projects per capita as Site Selection magazine posted its 2024 Governor’s Cup rankings, a placement the state has held during all five years of this administration.
In the South Central region, Kentucky placed second for regional projects per capita, as well as third for total projects, with 187 announcements in 2024. This includes recognition for the Northern Kentucky area.
“These Governor’s Cup rankings showcase what we already know: Kentucky is witnessing unprecedented economic growth and setting a strong foundation for long-term success,” said Gov. Beshear. “Hundreds of new and expanding companies are selecting our New Kentucky Home for their projects and creating jobs throughout the commonwealth. I am proud to see not only recognition for what we have accomplished as a state, but also significant growth in so many of our communities.”
In addition to the Commonwealth’s strong placement in the South Central region, several Kentucky communities were recognized for their economic success in 2024, with categories based on population size.
Bowling Green, for the second year in a row, placed first among top metro areas by total projects with populations between 50,000 and 200,000. The community also moved to the top spot in the per capita category. Announcements in Warren County include a new headquarters location from Clark Beverage Group and a new manufacturing facility from Shinsung ST KY.
Paducah and Owensboro also placed in the top 10 in the category for both total projects and per capita, and includes expansions from Blockware Mining, Swedish Match and Mizkan America.
Louisville/Jefferson County and the Northern Kentucky/Cincinnati region both took spots in the top 10 for metros per capita for populations over one million, in addition to Northern Kentucky/Cincinnati placing seventh in total projects, with 126. Projects contributing to the placement include a new laboratory from HealthTrackRx; a relocation and expansion from Dan-O’s Seasoning; new facilities from ISCO Industries, Chick-fil-A Supply and L2 Aviation; and an expansion from Nexigen Communications.
Lexington/Fayette County placed fifth per capita and tied for ninth overall in top metros with populations between 200,000 and one million, with 25 projects. Expansion projects from SRC of Lexington and Piramal Pharma Solutions contributed to Lexington’s strong placement.
Paducah was recognized with top 10 spots in the 2024 Top Mississippi River Corridor Metro rankings, in both total projects (eighth) and projects per capita (second).
Additionally, eight Kentucky communities placed in the Top Micropolitans rankings by number of projects – the sixth most nationally – including Richmond-Berea, Corbin, Frankfort, Somerset, Campbellsville, Danville, Franklin and Madisonville.