FRANKFORT — A day after Glasgow received bad news about a new industry, it received good news about the work that has been done to lure new industry to the community.
Site Selection magazine’s annual Governor’s Cup rankings have placed Kentucky 10th in the nation for new and expanded industry activity in 2012 and Glasgow tied for 23rd in Top Micropolitans list.
In 2012, Kentucky announced 354 location or expansion projects, resulting in 14,075 projected new full-time jobs and a capital investment estimated at nearly $2.7 billion.
Kentucky has finished among the top 15 states in the nation for the last five years in a row.
Site Selection, an Atlanta-based publication, has rated the states annually since 1978. The ranking is based on a state’s total number of qualified projects as tracked by Conway Data Inc.’s New Plant database.
Qualified projects include those that meet at least one of three criteria:
· involve a capital investment of at least $1 million;
· create 50 or more jobs; or
· add at least 20,000 square feet of new floor space.
During 2012, Kentucky generated 196 projects that met the above standards for Site Selection’s Governor’s Cup consideration.
“Kentucky’s 10th-place finish in our annual Governor’s Cup facilities race is evidence that more and more companies are finding in the Commonwealth the location criteria they require in today’s economy,” said Mark Arend, editor in chief of Site Selection. “My colleagues and I congratulate Gov. Beshear, his economic development team and the local and regional economic development professionals who worked to make Kentucky the right location choice for so many expanding companies.”
Conway Data’s rankings are regarded by corporate real estate analysts as “the industry scoreboard.” The magazine’s circulation base consists of 44,000 executives involved in corporate site selection decisions.