Gov. Beshear gives Team Kentucky update

FRANKFORT, Ky. (KFVS) - Governor Andy Beshear gave his Team Kentucky update on Thursday, January 26.

He discussed economic development progress, disaster recovery, inclement weather and more.

Economic Development

The governor highlighted five economic development projects that are expected to create nearly 320 jobs and that represent more than $360 million in new investment.

He also announced that the Kentucky Economic Development Finance Authority had its first meeting of the year. The board approved state tax incentives for projects bringing more than half a billion dollars in new investments and nearly 600 Kentucky jobs.

“I am very happy to share more great news about our economy, which continues to show amazing strength,” Gov. Beshear said. “And we’re not slowing down. We’re starting off 2023 the way we finished 2022, by bringing significant job-creating economic development projects to the commonwealth.”

The governor announced Ghent for North American Stainless would expand with an addition to its 4.4 million-square-foot facility in Carroll County, creating 70 new full-time jobs with a $244 million investment.

He also announced LioChem e-Materials will invest $104.4 million in a new facility in Simpson County. He said this will create 141 quality jobs for local Kentuckians and support EV battery production.

In addition, Carter Lumber Co. will expand in Bowling Green with an $8.1 million investment, creating 86 jobs. The governor said the new construction is part of the company’s rebuilding efforts following the tornadoes that impacted most of western Kentucky in December 2021.

The governor said Precision Sonar & Outdoors, a GPS and sonar monitoring systems, announced an expansion in Marshall County with a nearly $2.2 million investment.

EKSAFE Funds

Beshear announced more than $4.6 million in awards from the Eastern Kentucky SAFE Fund.

The awards announced on Thursday include:

• $414, 674 for three projects in Fleming Neon
• Over $1.1 million to the Knott County Fiscal Court to fund a FEMA match
• Over $390,000 to Letcher County Water and Sewer District to fund a FEMA match
• $25,548 to Magoffin County Water District for FEMA project match
• $300,000 to Mountain Water District to help with strained fiscal liquidity
• Just under $159,570 to the City of Whitesburg for three projects

Since September 2022, Eastern Kentucky has received more than $31.2 million in SAFE Fund payments.

Public Health Update

Governor Beshear also updated Kentuckians on influenza, RSV and COVID-19.

He said the spread of influenza seems to be declining but remains at elevated levels in Kentucky. Locations and appointments for the flu vaccine can be found at vaccines.gov.

The governor said the most recent COVID-19 data shows there have not been substantial increases in cases or hospitalizations in Kentucky. However, most Kentucky counties have moderate or high COVID-19 Community Levels.

He encouraged those who are eligible to get their COVID-19 vaccine booster.

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