Gov. Beshear: Kentucky Receives National Recognition for Economic Growth

FRANKFORT, Ky. (June 23, 2026) – The commonwealth continues to make waves for its record economic momentum as Gov. Andy Beshear announced today that industry publication Area Development has issued Kentucky its Silver Shovel Award for the second year in a row and named GE Appliances as a Manufacturing Project of the Year.

“We worked hard last year to attract great companies and create more good-paying jobs for our people, which resulted in our state’s second-best year on record for new private sector investments,” said Gov. Beshear. “This recognition reflects that Kentucky has the infrastructure and workforce needed to continue attracting the businesses of the future.”  

For the second consecutive year, Area Development has awarded Kentucky with its Silver Shovel Award for states with populations between 3 million and 5 million. It is the state’s fourth Gold or Silver Shovel designation during the Beshear administration.

Notable 2025 projects highlighted in Kentucky’s ranking include:

• General Matter’s $1.5 billion, 140-job uranium enrichment facility in McCracken County, the largest economic development project in Western Kentucky history.
• Apple’s more than $2 billion investment in Corning’s Mercer County facility to produce 100% of the cover glass used in iPhones and Apple Watches.
• A nearly $2 billion investment from Ford Motor Co. in its Louisville Assembly Plant to introduce an all-new, yet to be revealed, mid-size electric pickup truck.
• Kroger’s new $391 million full-line distribution center in Simpson County, a project that will create approximately 430 new full-time jobs.

GE Appliances, a Haier company, was one of 20 projects across the country recognized by Area Development as a Manufacturing Project of the Year. Announced in June 2025, GE will invest $490 million and create an additional 800 full-time jobs at its global corporate headquarters at Appliance Park in Jefferson County. The project will move production of more than 15 models of front-load washers to Building 2 at Appliance Park. The new product lines are scheduled to begin production in 2027.

The commonwealth previously received a Gold Shovel Award in 2022 and 2023, in addition to back-to-back Silver Shovel Awards.

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: 12 million-plus, 8 million to 12 million, 5 million to 5 million, 3 million to 5 million and fewer than 3 million. Runners-up in each of the categories are awarded Silver Shovels.

While the State Shovel Awards recognize the states that assembled the strongest overall portfolios, the Projects of the Year highlight the individual investments that stood above the rest for their scale, strategic importance and long-term economic impact.

To read the full list of this year’s Shovel Award winners, click here.

Area Development’s Projects of the Year winners can be viewed here.

Kentucky’s recognition for investment and job creation furthers what has been the best six-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50 billion in announced investments, creating more than 70,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $29 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.’s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County; and Toyota’s $1.3 billion investment in Scott County, among others.

In February, the Governor announced Kentucky once again set an all-time record for products shipped globally, with $50.6 billion in exports in 2025, representing a 5.65% increase over 2024.

Unemployment rates fell in all 120 counties between December 2024 and December 2025.

The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

In addition, Kentucky has secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.

Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2024 Governor’s Cup rankings. Site Selection also placed Kentucky second in the South Central region and No. 6 nationally in its 2025 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

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