“through a manufacturer’s eyes”...nearly 4,400 in kentucky. manufacturers add $2.25 trillion...
TRANSCRIPT
![Page 1: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/1.jpg)
“THROUGH A MANUFACTURER’S EYES”ECONOMIC DEVELOPMENT IN KENTUCKY
Presented By: Vivek Sarin, Kentucky Cabinet for Economic Development
![Page 2: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/2.jpg)
Photo courtesy: BevinBells.com
![Page 3: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/3.jpg)
“My goal is for Kentucky to become the engineering and
manufacturing hub of excellence in America.”
Gov. Matt Bevin
![Page 4: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/4.jpg)
250,000+ manufacturing firms in the U.S. Nearly 4,400 in Kentucky
Manufacturers add $2.25 trillion to U.S. economy$37.7 billion in Kentucky
Manufacturing makes up 18.5% of KY GDP. Compared with U.S. rate of 11.7%
LAST 5 YEARS: KY manufacturing employment grew 10%,compared with 3.7% in the U.S.
KY ranks 4th in the U.S. manufacturing growth since 2009
MANUFACTURING IS ON THE MOVE!
![Page 5: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/5.jpg)
YEAR TO DATE ANNOUNCED PROJECTS2018 Announced Investment$1.89 Billion
2018 Announced Jobs4,779 New Jobs
![Page 6: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/6.jpg)
ADMINISTRATION TO DATE ANNOUNCED PROJECTS
![Page 7: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/7.jpg)
ADMINISTRATION TO DATE WEALTH AND ECONOMIC METRICS
![Page 8: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/8.jpg)
ADMINISTRATION TO DATE WEALTH AND ECONOMIC METRICS
Unem
ploy
men
t Rat
e
Sum
of L
abor
Par
ticip
atio
n R
ate
![Page 9: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/9.jpg)
• Right to Work• Elimination of Prevailing Wage • Flat corporate tax rate of 5 percent• Phaseout of the inventory tax• Pension reform
• Realigning workforce delivery system so education, workforce, companies and government are working together
• Working with the Trump Administration on tariff issues
MAJOR ACCOMPLISHMENTS
![Page 10: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/10.jpg)
Record jobs and investment in 2017
800+ announcements, $14.5 billion in investment and nearly 40,000 new jobs announced during Bevin Administration
BE ENCOURAGEDRecord project activityUpcoming relationship-building trips to the UK, Japan, Korea, China, India
![Page 11: “THROUGH A MANUFACTURER’S EYES”...Nearly 4,400 in Kentucky. Manufacturers add $2.25 trillion to U.S. economy. $37.7 billion in Kentucky. Manufacturing makes up 18.5% of KY GDP](https://reader033.vdocument.in/reader033/viewer/2022051606/6027696526c0557e19788f6a/html5/thumbnails/11.jpg)
GET ENGAGED!VIVEK SARIN
Executive Officer, Kentucky Cabinet for Economic Development Phone: 502-564-7670 | E-mail: [email protected]
Old Capitol Annex | 300 West Broadway | Frankfort, Kentucky 40601
www.ThinkKentucky.com@ThinkKentucky www.facebook.com/ThinkKentucky
#WeAreKY #ThinkKentucky