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Doing Business in Kentucky

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

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  1. Doing Business in Kentucky Presented byFinn Weisse Director, European Representative Office September ____, 2013

  2. Kentucky

  3. 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

  4. $2.70B $2.64B $2.04B Investment is Up

  5. 14,075 13,219 Jobs are Up

  6. 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

  7. Kentucky Exports • In 2012, Kentucky exported to nearly 200 countries. • Top trading partners include:

  8. Strong Growth in 2013 Year-to-Date Comparison (thru August) Jobs (thousands) Investment ($ billions) 9,082 $2.41B 7,677 $1.35B

  9. #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

  10. Global Outreach Nations visited on recent economic development trips

  11. 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.

  12. Why Kentucky?

  13. 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.

  14. 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

  15. 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. ”

  16. 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

  17. 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

  18. 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)

  19. 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

  20. DERBY GOLFING BASKETBALL BOURBON EQUESTRIAN RACING Kentucky is

  21. Kentucky’s Global Economy

  22. German Firms in Kentucky 57 German-owned facilities in Kentucky employ more than 8,500 full-time

  23. European Firms in Kentucky 178 European-owned facilities in Kentucky employ nearly 26,000 full-time

  24. Kentucky Cabinet for Economic Development

  25. One Point of Contact The Cabinet serves as your liaison with various partners Client

  26. Financial Assistance Tools WORKFORCE SOLUTIONS TAX REFUNDS TAX CREDITS GRANTS LOANS

  27. 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

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