Watch Kentucky Cabinet for Economic Development's Fall Conference

1. KENTUCKY CABINET FOR
ECONOMIC DEVELOPMENT
KAED – November 10, 2017

2. Prevailing Wage eliminated
We're Benefiting from Impactful Legislation
Kentucky is now Right-to-Work
Charter Schools approved
Coming: Pension and Tax Reform

3. We're
cutting the
red tape!
Goal: eliminate 1/3 of all regulations
in 3 years.
Legislature placed sunset provision on
all regulations

4. We're Setting Records:
2016
(annual)
2017
(Through October)
Announced
Investment
Announced
New Jobs
Announced
Investment
Announced
New Jobs
$3.1
billion
16,190
$8.05
billion
13,237
*Amazon announced only 2,700
employees, but that number is
expected to be closer to 7,500.
2015
(annual)
Announced
Investment
Announced
New Jobs
$5.1
billion
16,024
18,037*

5. 58%
42%
Jobs
New Locations (7,669)
Existing Industry Expansions (5,568)
49%
51%
Capital Investment
New Locations ($3.9 b)
Existing Industry Expansions ($4.145 b)
We're Supporting Existing Businesses & Helping New
Companies Select KY
STATEWIDE January – October 2017
Total – 158 Total – $8.05 billion Total – 13,237
30%
70%
Project Announcements
New Locations (47)
Existing Industry Expansions (111)

6. 2016 National Rankings
#1 in U.S. in vehicle production per capita
#2 in U.S. in employment in motor vehicle manufacturing
in U.S. in aerospace-related exports
#3 in U.S. in air cargo shipments
#4 in U.S. in vehicle production overall
in U.S. in employment for upstream metal manufacturing
#6 in U.S. in top manufacturing states by percentage of workforce
#8 in U.S. among top business climates (Soon to be announced by a national publication)

7. RFI Requests
529
Potential projects
identified in 2017
$40 million
Average investment
per project
200
Average job creation
per project
Recognize What’s at Stake
158 projects announced so far in 2017

8. Your Challenge
Explaining the risk vs. reward of investing in the community
RewardRisk

9. Respond Urgently to the Corporate World
02
The past
Site selection
process took years
01 03
A company’s
goal
To be operational in
months
As a result
Site selection takes
weeks/months
The company creates the demand

10. Like shopping for a car
 Land
 Do you own it, or do you have options?
 Zoning/other restrictions on the site?
 Permitting/Studies completed?
 Utilities on the site?
 Any flood plain issues?
 Local Government/community support?
 Building:
 No ownership issues?
 Clean, well kept?
 Utilities all in working order?
 Any flood plain issues?
 Can I drive it off the lot today?
 Are there defects not reported?
 Have there been recalls?
 Muffler, radiator, heat, A/C all in order?
 Ever been wrecked?
 Have you discussed this purchase with your spouse?
 Is there a clear title?
 Is it clean, well kept?
 Do all lights and wiring work properly?
 Has the car ever been flooded?
When they ask about… In other words….

11. Determine who you want to be
Determine your niche
Prepare your assets to sell immediately
Engage employers in the educational process
Create/strengthen your business retention/expansion program
Decide to think regionally
Be able to tell your story
SUCCESS FOR
YOUR COMMUNITY

12. More A+ sites
More ready sites of all sizes
Skilled and available workforce
Creative look of all sites/buildings submitted
Professional look/feel of everything we present
to site selectors
Brand cohesion
SUCCESS
FOR TEAM KENTUCKY

13. Get ready NOW
 What are the current – and future – workforce needs of existing
businesses?
 Is there a partnership with local schools/training facilities to supply those
workforce needs?
 Are parents, educators, businesses and civic leadership all working
together on future needs?
 Is there a will and a commitment to invest in the future?
 Are you willing to think regionally?

14. Your Mission
 Determine your community’s risk/reward tolerance
 Create a strategy for attracting new/expanding industries
 Eliminate negatives with your existing sites/buildings
 Have firm commitments on providing any
utilities/permit/zoning issues
 Make an impact with your own materials

15. In short…
Question:
You know your community is great. How can you convince site selectors that it is?
Answer:
Sites/buildings that are quickly and easily usable
A comprehensive approach to training the workforce of today and educating the
workforce of tomorrow
A professional marketing approach

16. THANK YOU
ThinkKentucky
@ThinkKentucky
ThinkKentucky.com
for your
PARTNERSHIP
We're here to serve