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Doing Business in Kentucky. Presented by Finn Weisse Director , European Representative Office September ____, 2013. Kentucky. Kentucky Fast Facts. Population: 4,339,435 26th largest in U.S. T otal land area: 40,409 square miles 37th largest in U.S. Largest cities:

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doing business in kentucky

Doing Business in Kentucky

Presented byFinn Weisse

Director, European Representative Office

September ____, 2013

kentucky fast facts
Kentucky Fast Facts

Population: 4,339,435

26th largest in U.S.

Total land area: 40,409 square miles

37th largest in U.S.

Largest cities:

  • Louisville 741,096 (Metro: 1,307,647)
  • Lexington 295,803 (Metro: 472,099)
  • Bowling Green 58,067 (Metro: 120,595)
  • Owensboro 57,265 (Metro: 114,752)

Frankfort is the state capitol

exports are at a record high
Exports are at a Record High

Kentucky exports in 2012 hit a record $22.1 billion

KY Exports All Sectors, 2009-2012 ($ Billions)

Exports to Japan were up 22.9%; Austria up 106%; Sweden up 215%; and Italy up 41.5% over 2011 exports

Exports added nearly $4.7 billion to Kentucky’s GDP and created 45,760 jobs in 2012

Kentucky ranks 19th in the U.S. in exports; 14th on a per capita basis

kentucky exports
Kentucky Exports
  • In 2012, Kentucky exported to nearly 200 countries.
  • Top trading partners include:
strong growth in 2013
Strong Growth in 2013

Year-to-Date Comparison (thru August)

Jobs (thousands)

Investment ($ billions)

9,082

$2.41B

7,677

$1.35B

top job growth rate in eastern u s

#1 in Job Growth Rate in Eastern U.S. November 2011 to November 2012

Kentucky

Top Job Growth Rate in Eastern U.S.

In 2012, Kentucky enjoyed the tenth-largest gain in jobs relative to the size of its economy, adding 37,600 jobs, a 2.1 percent increase. – Bureau of Labor Statistics

Source: U.S. Bureau of Labor statistics

global outreach
Global Outreach

Nations visited on recent economic development trips

foreign direct investment
Foreign Direct Investment

Approximately 420 foreign-owned facilities from 30 nations employ nearly 79,000 full-time in Kentucky.

Three-year employment growth rate among foreign-owned facilities was 12 percent, compared to overall growth rate of 6 percent.

In 2012, nearly 35 percent of new capital investment and almost 20 percent of all new jobs announced in Kentucky were a result of foreign direct investment.

close to customers
Close to Customers

Within 500 miles of more than 60 automotive and truck assembly plants

Within 600 miles (1000 km) of 65% of the U.S. population

Within 2-hour flight time of 60% of U.S.

slide14

Automotive Industry

Over 450 automotive-related facilities in Kentucky employ more than 79,000 full-time employees

Four OEM Assembly plants

Automotive-related employment accounts for nearly 17 percent of total manufacturing employment statewide

kentucky s auto industry
Kentucky’s Auto Industry

2011 – 2012

134 auto industry location or expansion announcements

~ 7,200 new jobs

$1.76 billion invested

#2

Ranked #2 in Automotive Manufacturing Strength by Business Facilities magazine:

When you factor in the expansion of Toyota’s huge assembly complex in Georgetown, GM’s commitment to build next-generation Corvettes in Kentucky, and a new advanced battery technology center, you have the makings of a 21st Century automotive powerhouse.

large on logistics

5

2

#3

10

9

Large on Logistics

Commercial airports, including international airports

Global shipping hubs: UPS and DHL

In total cargo (2010)

Interstate highways

State parkways

Major rail networks and river ports

The nation’s largest inland port, in Ashland, along the Ohio River

economical energy
Economical Energy

Ranked 1st in competitive utility rates by site location consultants in 2011

Lowest industrial power cost (5.05¢ per kWh) in the Eastern U.S.

More than 25% lower than U.S. average

Area Development Magazine, 2011 Site Consultants Survey; Energy Information Administration/Electric Power Annual (2010); Ibid

17

business climate
Business Climate

Ranked 7th most business

friendly state for new firms

CNBC ranked Kentucky #1 in lowest cost of doing business (labor, taxation, transportation, energy) in the U.S. in 2011

North American Business Cost Review (2010), Tax Foundation (2012)

Business Facilities Magazine (Summer 2011)

slide19

Easy Living

Lowest cost of living in the U.S.

12th lowest residential electric costs

9th lowest crime rate

12th lowest median housing cost

52 state parks and 50+ major lakes

70,000 miles of rivers

Source: C2ER 2011 ACCRA Cost of Living Index

slide20

DERBY

GOLFING

BASKETBALL

BOURBON

EQUESTRIAN

RACING

Kentucky is

slide22

German Firms in Kentucky

57 German-owned facilities in Kentucky employ more than

8,500 full-time

slide23

European Firms in Kentucky

178 European-owned facilities in Kentucky employ nearly

26,000 full-time

one point of contact
One Point of Contact

The Cabinet serves as your liaison

with various partners

Client

slide26

Financial Assistance Tools

WORKFORCE SOLUTIONS

TAX REFUNDS

TAX

CREDITS

GRANTS

LOANS

thank you

Finn Weisse

  • Managing Director
  • Director
  • European Representative Office
  • Department of Business Development
  • 011-49-40-35716844
  • finn.weisse@thinkkentucky.euhttp://www.thinkkentucky.eu
Thank You

ThinkKentucky

@ThinkKentucky