By Ed Green
P3 Kentucky Editor
Kentucky economic development leaders are getting out the word about our pro-business initiatives — including legislation to allow public-private partnerships — and gaining some national attention from site selection publications.
In recent editions of Area Development and Business Facilities magazines, initiatives in the Commonwealth such as the P3 legislation, red tape reduction and new right-to-work legislation were cited as reasons the state is generating new investments and growth.
Area Development magazine is an online and print magazine for executives interested in corporate site selection and relocation.
In a recent article, the magazine notes that Kentucky announced $9.2 billion in expansion and new location projects last year — investments that would bring 17,200 new jobs. Growth sector include automotive, primary metals, advanced manufacturing, logistics and distribution, and food and beverage.
“Kentucky has long been known for its business advantages, starting with its central location, easy access to nearly two-thirds of the U.S. population, and excellent transportation infrastructure, including interstates, rail, air, and river ports. Recent efforts enhanced Kentucky’s business climate, including through passage of right-to-work legislation, changing the prevailing wage law, and promoting public-private partnerships.”
A Business Facilities magazine story about growth in the automotive sector strikes a similar tone about Kentucky’s business climate, noting that Kentucky announced 4,500 new jobs in its automotive industry alone last year and nearly 60 expansion or location projects.
The article again cited a pro-business climate as driving the historic growth across the state.
“Gov. (Matt) Bevin’s approach to economic development is that government should operate with the speed and efficiency of a private company. That ethic combined with ongoing business climate improvement—including new workforce-training programs, red-tape reduction, P3 legislation, abolishing prevailing wage and plans to take up state pension and tax reform—are making Kentucky a hub for engineering and manufacturing in the U.S.”
The positive attention Kentucky and its relatively new P3 legislation is getting is a good example of how leaders wanted it to work. By making this tool available, along with other economic-development efforts, Kentucky leaders are keeping our state top of mind for those making decisions about major expansions and investments.