How far does foreign business reach in Kentucky?
3 min read
Kentucky is rising in international recognition as Gov. Andy Beshear’s administration continues a decades-old mission of the commonwealth — recruit and retain foreign companies operating businesses in the state.
When thinking about foreign business investment in Kentucky, major companies like Toyota Motor Manufacturing or the soon-to-come-online BlueOval SK Battery Park, a joint venture between Ford and South Korean company SK On, come to mind. These massive manufacturers in the auto industry are examples of how an international business can come into Kentucky and completely reshape a county through new jobs and create significant growth.
Kentucky is home to 538 international business facilities, employing more than 117,000 Kentuckians. Since Beshear has been in office, at least 10 new international business facilities have been established, according to data from the Kentucky Cabinet for Economic Development.
Beshear was in South Korea as recently as Monday, working toward business recruitment efforts and meeting with companies such as SK On. This international business trip was his second of the year ― he previously visited Switzerland and Germany.
Matt Tackett, president of the Southern Economic Development Council based in Atlanta, who has taken several foreign direct investment mission trips on behalf of the U.S., said these trips are filled with meetings of business leaders who have already displayed an interest in locating in the U.S. and are looking for clarity on what incentives and other benefits they can earn by bringing their company to Kentucky.
Tackett notes an advantage of Kentucky — aside from its nearly 30 incentive programs and build-ready sites — lies within the state’s geographic positioning in the American South, the world’s third-largest economy.
“The South, and Kentucky as part of the South certainly stands out as a very pro-growth, pro-business location for enterprises to thrive,” Tackett said.
Here are three graphics that show the reach of international businesses in Kentucky:
How prevalent are foreign business operations in Kentucky?
Across the state, roughly 61% of all counties are home to at least one international business operation.
These range from businesses as large as Toyota Motor Manufacturing, Kentucky in Scott County employing thousands of workers to small operations such as Switzerland-based company SGS North America Inc. employing seven people in Pike County.
What countries have established a facility in Kentucky during Beshear’s administration?
Since Beshear took office in late 2019, there have been at least 10 new international business facilities established in the commonwealth, according to data through 2021 provided by the Kentucky Cabinet for Economic Development.
So far, these new facilities have come from Australia, Canada, France, Germany, India, Italy, Japan and the United Kingdom. Beshear has also been an active recruit of South Korean companies, especially since the 2021 announcement of the BlueOval SK Battery Park in Hardin County.
Which countries’ businesses employ the most Kentuckians?
A handful of countries are home to businesses that employ the largest number of the more than 117,000 Kentuckians employed by international businesses.
Japan leads the way with more than 47,000 Kentuckians working at Japanese companies in the commonwealth. Toyota is the largest Japanese employer with a multitude of supply chain companies supporting other Japan-originated jobs in the state.
Contact business reporter Olivia Evans at [email protected] or on X, the platform formerly known as Twitter at @oliviamevans_.
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