Kentucky Wins Silver Shovel Award For Economic Development Excellence

The latest issue of Area Development magazine includes the announcement of their 2014 Gold and Silver Shovel Awards which recognize states for excellence in economic development.

Kentucky Economic Development Guide

Kentucky Economic Development Guide (photo – thinkkentucky.com)

Five states won Golden Shovel Awards, while Kentucky and 14 other states got Silver Shovel Awards for economic development projects undertaken last year.

Each year, Area Development invites all 50 states to submit data about their top 10 job creation and investment projects.

States that won Shovel Awards had the highest weighted scores in their population category in terms of the new jobs created per capita, along with the amount of investment, number of new facilities, and industry diversity.

The five Golden Shovel Award winners this year in each of the five population categories are Texas, Georgia, Missouri, South Carolina and Utah.

Runners-up in each population category were awarded Silver Shovels. Florida and New York took home Silver Shovel Awards in the category of states with a population of more than 15 million.

New Jersey, North Carolina, Ohio and Pennsylvania were named in the 8-15 million population category, while Arizona, Indiana and Tennessee got named in the 5-8 million category.

Alabama, Kentucky and Louisiana won Silver Shovels in the 3-5 million population category. Arkansas, Kansas and Mississippi were the Silver Shovel Award winners in the category of states with populations below three million.

“The states and their communities receiving 2014 Shovel Awards have worked tirelessly to establish pro-business environments that attract new industry as well as to support their corporate citizens in an expansion mode,” says Geraldine Gambale, editor of Area Development.

“This is a tremendous honor for Kentucky – one that represents our success in making the Commonwealth attractive to companies of all industries,” saidKentucky Governor Steve Beshear.

The 10 Kentucky economic development projects that won them a Silver Shovel are as follows:-

Toyota Motor Manufacturing Kentucky (Georgetown) – $531.2 million investment with 750 jobs;

PTC Seamless Tube Corp (Hopkinsville) – $102.4 million investment with 283 jobs;

Carriage House Companies Inc. (Buckner) – $96.8 million investment with 225 jobs;

Hitachi Automotive Systems Americas (Berea) – $63 million investment with 225 jobs;

eBay Enterprise (Louisville) – $45 million investment with 153 jobs;

Mubea Inc. (Florence) – $44.5 million investment with 230 jobs;

Custom Food Products LLC (Owingsville) – $44.4 million investment with 200 jobs;

Dr. Schneider Automotive Systems Inc. (Russell Springs) – $29.9 million investment with 155 jobs;

General Dynamics Information (London) – $18.5 million investment with 1,000 jobs; and

Serco (London) – $15 million investment with 1,000 jobs.

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