Kentucky’s economy has been through quite a battering over the last two years. Just as life had started to normalize following a crippling lockdown caused by the Covid-19 pandemic, the state suffered historic tornadoes in Western Kentucky and damaging flash floods that swept away homes and displaced thousands of people in the eastern Kentucky in October.
Unfazed by these disasters, state officials immediately went back to work, focused on a collective commitment to revive the economy and rebuild lives. In doing so, Kentucky has generated serious interest from various investors.
South Western Kentucky Economic Development Council Executive Director Carter Hendricks has stepped up efforts to promote the competitive advantages of the region and vowed to be very responsive to the needs of every sector and investor, both existing and prospective.
“Our Japanese industry sector is very important to us and we would love to meet with the company headquarters that are currently located here, but also with new companies that may be considering operations in the North American market,” Hendricks said.
In October, Gov. Andy Beshear broke ground on the manufacturing facility of Ascend Elements in Hopkinsville in South Western Kentucky. Ascend Elements produces advanced battery materials from valuable elements reclaimed from spent lithium-ion batteries.
Hendricks stressed that Ascend’s move to the Kentucky will showcase the state’s preparedness to accommodate the fast-growing electric vehicle sector.
“In the last 12 to 18 months, we've had a lot of project activity. It has been very fortunate that we have many companies that are either investing or reinvesting here with several active industry expansions. We've had a good year, and as it's looking right now, the next several months are going to be just as busy and hopefully just as productive,” he added.