FRANKFORT, Ky. (Aug. 20, 2025) – Today, Gov. Andy Beshear highlighted an economic win streak for Kentucky, with more than $6.3 billion in new investment and over 1,000 full-time jobs announced by four iconic companies in less than two weeks.
“There isn’t anything political about a good job or a strong economy, and Kentucky is seeing incredible success as we prioritize what’s right and create more opportunity than ever before for our people,” said Gov. Beshear. “With iconic companies like Ford, GE Appliances, General Matter and Apple choosing to invest here, we’re showing the world that our commonwealth is the best place to do business. The best thing is, we’re providing more good-paying jobs for Kentuckians so their families can live better lives.”
Over the past two weeks, Gov. Beshear has highlighted major investments by Ford, GE Appliances, General Matter and Apple.
On Aug. 5, the Governor joined executives from General Matter to celebrate a major milestone in the company’s project toward establishing a $1.5 billion, 140-job uranium enrichment facility in McCracken County, which will be the largest economic development project in Western Kentucky history. The company recently signed a lease with the U.S. Department of Energy (DOE) for the former Paducah Gaseous Diffusion Plant. The lease signing paves the way for the company to seek the necessary permitting, licensing and contractual terms with the DOE to move the project forward.
On Aug. 6, Apple and Corning announced plans for a $2.5 billion investment in Corning’s Mercer County facility to produce 100% of the cover glass used in iPhones and Apple Watches. Leadership at Apple indicated the project will help increase Corning’s manufacturing and engineering workforce by 50% in Kentucky. The project is part of Apple’s broader commitment to invest over $600 billion in the U.S. economy over the next four years.
On Aug. 11, Gov. Beshear participated in a monumental announcement by Ford Motor Co. for a nearly $2 billion investment in its Louisville Assembly Plant to introduce an innovative manufacturing process that will serve as the platform for an all-new, yet to be revealed, electric mid-size pickup truck. The project also secures 2,200 jobs at the facility and introduces an “assembly tree” approach to the production process, which will increase efficiency, ergonomics and affordability. The new low-cost, scalable EV platform is scheduled for completion by Q2 2027.
On Aug. 13, the Governor and executives from GE Appliances highlighted the $490 million investment at Appliance Park in Jefferson County that was announced in June. The expansion, which will create 800 full-time jobs, serves as the cornerstone of the company’s new $3 billion investment in its U.S. manufacturing operations. The nearly half-billion-dollar project at GE Appliances’ global corporate headquarters in Louisville furthers the operation’s role as the company’s primary location for research, product design, development and testing.
These recent investment and job creation announcements build on the best five-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,200 private-sector new-location and expansion projects totaling close to $40 billion in announced investments, creating nearly 63,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and over $18 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County, among others.
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.
Kentucky also 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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