Gov. Beshear: $480 Million in Investment Will Bring More Than 400 Full-Time Jobs for Kentuckians

Kentucky State Seal




Crystal Staley

Scottie Ellis

Gov. Beshear: $480 Million in Investment Will Bring More Than 400 Full-Time Jobs for Kentuckians

Team Kentucky Update included good economic development news, rebuilding efforts in Eastern Kentucky and more

FRANKFORT, Ky. (July 27, 2023) – Today, Gov. Andy Beshear announced that the Kentucky Economic Development Finance Authority approved state incentives for nine projects, signifying $480 million in investments and more than 400 full-time jobs for Kentuckians. For a complete list of the projects, click here.

“This announcement shows what’s possible when we keep our eyes on the ball and just work to move Kentucky forward for our families,” said Gov. Beshear. “The great news is all our hard work is paying off. Kentucky’s future is brighter than ever.”

The Governor also provided an update on economic development; the Sherman Minton Bridge closure; a survey stating Kentucky is No. 1 in water taste and reliability; problem gambling assistance; the 70th anniversary of the end of the Korean War; the one-year anniversary of the floods in Eastern Kentucky; funds for housing in Eastern and Western Kentucky communities impacted by natural disasters; U.S. Department of Labor funding; a heat advisory for Thursday and Friday; and applications for the federal Violence Against Women Act Formula Grant Program. He also named various athletes from across the commonwealth as this week’s Team Kentucky All-Stars.

Economic Development
Gov. Beshear highlighted continued economic growth in Kentucky as Thai Summit Kentucky (TSK), a leading sheet metal stamping company, will expand its Nelson County presence with a $131 million investment, creating 78 new full-time jobs in the area.

The Governor announced new growth in Kentucky’s manufacturing sector, as Matrix Pack North America, a producer of sustainable and environmentally conscious paper products, will locate a new $47.9 million facility in Boone County and create 144 full-time jobs.

Gov. Beshear highlighted high-tech growth in the commonwealth as leaders at BeingAI Corporation, a cutting-edge artificial intelligence company, have announced they will locate the company’s new U.S. headquarters at the Western Kentucky University Innovation Campus in Bowling Green, investing nearly $3 million and creating 28 high-wage Kentucky jobs over three phases in the next three years.

The Governor announced over $3.4 million in state funding to support land and building development and encourage economic growth and quality jobs across five sites in seven counties throughout the commonwealth.

Gov. Beshear congratulated local officials and company leadership from Aerospace Composites Solutions (ACS) (formerly Blackhawk Composites), a comprehensive composite design and manufacturing company focused on boosting aircraft performance and capabilities, as the company broke ground on a $16.8 million expansion and relocation in Morgantown that will create 72 new full-time jobs in the area.

The Governor congratulated Rivian on the company’s new partnership with The Nature Conservancy and BrightNight to build the largest renewable power project in Kentucky, and one of the largest in the nation, on former mine lands. The agreement includes 100 megawatts of renewable power from the company’s new $1 billion, 800-megawatt BrightNight Starfire Renewable Energy Center, constructed on Starfire Mine, formerly one of the largest coal mines in the United States. Once complete, the operation’s 800-megawatt capacity will be enough electricity to power over 170,000 households annually.

Sherman Minton Bridge Closure
The Governor provided an update on the Sherman Minton Bridge, which was closed after construction crews identified that a component of the Kentucky approach needed repair. As part of the Sherman Minton Renewal, a major rehabilitation and painting project, engineers working for the Kentucky Transportation Cabinet and the Indiana Department of Transportation are conducting detailed inspections of components of the Kentucky approach to the bridge to determine repairs needed to safely reopen the bridge to traffic.

Direction has been issued for travelers to please use alternate routes and designated detours, which can be found on Officials are working diligently to reopen the bridge as quickly as possible and will provide more information about the needed repairs.

Kentucky No. 1 in Drinking Water Taste and Reliability  
The Governor said that in a recent J.D. Power survey in which customers nationwide were asked to rate their drinking water provider on taste and reliability, Kentucky finished number one in the country. Over 400 Kentuckians across the commonwealth answered the survey and ranked the state’s water eight out of ten.

The Governor noted that Team Kentucky’s Cleaner Water Program has allocated $264 million dollars to drinking water upgrades in 642 grants since the program began.

“Access to clean drinking water is a basic human right and we will continue to work every day to make sure every Kentucky family has it,” said Gov. Beshear.

Kentucky Problem Gambling Assistance
Gov. Beshear signed an emergency regulation to begin administering the Kentucky Problem Gambling Assistance account. This regulation established the process for providing funds from this account to support agencies, groups, organizations and individuals that can best help those who experience problem gaming. The funds can also be used to promote public awareness and education to reduce problem gaming and pay for the costs associated with treatment and recovery.

“This new industry will bring in more new jobs, tourism and growth. But we want all Kentuckians to participate responsibly, and these funds will help support Kentuckians who experience problem gaming,” said Gov. Beshear.

Anniversary of the End of the Korean War
Gov. Beshear recognized the 70th Anniversary of the end of the Korean War and honored the estimated 54,700 Kentucky men and women who served during the war.

“We want to recognize and give thanks to our Korean War veterans today for their courage and sacrifices in service of our commonwealth and nation,” said Gov. Beshear. “I want our veterans to know how much they mean to our nation and commonwealth and that they are not forgotten.”

One-Year Anniversary of Eastern Kentucky Floods
The Governor provided an update on recovery and rebuilding efforts in Eastern Kentucky on the one-year anniversary of the devastating floods. Thursday and Friday, Gov. Beshear will be traveling to Eastern Kentucky to visit with families and communities impacted by the floods. 

“I’ve been amazed by the strength of Eastern Kentucky. In the days after the floods, I promised we’d be here until every structure, home and life is rebuilt, and we’re keeping that promise,” said Gov. Beshear.

As of this week, 79 families are housed in travel trailers, and 306 households have transitioned out of the Commonwealth Sheltering Program. No families impacted by the floods are staying at state parks. To view a list of actions to help Eastern Kentucky recover, click here.

Western Kentucky Floods
In response to the flooding in Western Kentucky on July 19, Kentucky Emergency Management is assisting existing disaster recovery groups by deploying lightly used travel trailer units that were used following the tornadoes in Western Kentucky and the floods in Eastern Kentucky.

The commonwealth will donate up to 12 units to Camp Graves, a nonprofit organization in Western Kentucky that provides disaster relief and temporary housing for victims of disaster or displacement. Camp Graves will use the donated units as part of disaster preparedness efforts for Graves and surrounding counties.

KYEM has also transferred 42 travel trailers to 10 local governments and 18 travel trailers to two state agencies. Other requests are in process.

Rural Housing Trust Fund Disaster Recovery for EKY and WKY Families
Gov. Beshear announced that the Kentucky Housing Corporation released a Notice of Funding Availability for the Rural Housing Trust Fund Disaster Recovery for single-family homes in disaster-designated counties of Eastern and Western Kentucky. A total of $15 million will be available, with Eastern Kentucky receiving $10 million and Western Kentucky receiving $5 million. Another $5 million will be available later this year to rebuild rental homes in Western Kentucky.

Eligible applicants include nonprofit housing organizations, local governments, private for-profit developers and businesses that undertake the new construction or rehabilitation of rural housing units for moderate-income individuals and public housing authorities.

The Governor anticipates two rounds of funding will be based on available funds. The first round of funding will close at the end of the day on Sept. 1. Awardees of this round of funding will be announced in early October. The second round of funding is expected to open on Sept. 18 and close by the end of the day on Oct. 27. Awardees of this round of funding will be announced in mid-December. All applicants must review the notice of funding available on the KHC Partner Portal.

U.S. Department of Labor Funding
The Governor announced that the U.S. Department of Labor has approved Kentucky for an initial award of $6.6 million to provide temporary jobs removing debris and delivering assistance in counties affected by severe weather events in February. These counties include Bell, Carter, Harlan, Lawrence, Morgan and Powell. The commonwealth has the potential to receive up to $20 million through the National Dislocated Worker Grant Fund.

Heat Advisory
The Governor updated Kentuckians on a heat advisory for Thursday and Friday. Temperatures are expected to top out from the mid-90s to around 100 degrees. High humidity will persist, leading to heat index values of 105 to 115. The Governor advised Kentuckians to take precautions if spending time outdoors by drinking plenty of water and taking frequent breaks.

Violence Against Women Act Applications  
Gov. Beshear announced that the federal Violence Against Women Act Formula Grant Program applications will open on August 1. The Governor anticipates Kentucky will receive more than $2.2 million in funds. Eligible organizations and local programs can apply for funding through the Justice and Public Safety Cabinet’s electronic grants management system. For more information about the grant, click here.

Team Kentucky All-Stars
Gov. Beshear recognized several athletes from across the commonwealth and named them as this week’s Team Kentucky All-Stars.

The Governor first recognized the Lexington Eastern Little League, which became Kentucky State Champions last week and is headed to the Little League Regional Championships. Gov. Beshear encouraged Kentuckians to watch their game which will air on ESPN+ on Sunday, August 6, at 4 p.m. EDT.

The Governor then recognized lacrosse players from around the world that joined in Louisville for the Premier Lacrosse League All-Star game. Gov. Beshear encouraged Kentuckians to visit the Premier Lacrosse League’s website and vote for Louisville to get a Premier Lacrosse League team in 2024.

Gov. Beshear also honored Savannah DeMelo of Racing Louisville FC’s soccer team as she made the United States Women’s National Soccer Team roster for the 2023 World Cup series.

“All of these athletes have worked so hard, and we should all celebrate them and their accomplishments,” said Gov Beshear. “I am proud to name them all this week’s Team Kentucky All-Stars.”