What ‘KenTRUCKy Day’ Means for Kentucky
Kentucky has been hit with a couple of massive natural disasters over the last 12 months--the December tornado outbreak and the catastrophic flooding this summer in eastern Kentucky.
And what would be something that stands out about the two events in their aftermath? How about the resiliency of the people of the Commonwealth. Not only do we not take things lying down, we all pitch in and help one another get back on our feet.
I feel like what Kentucky has enjoyed, from a financial standpoint, over the past year is sort of reflective of that spirit--the Bluegrass State ended fiscal year 2022 with a more than $900 million surplus, the second-highest ever.
And on Tuesday, September 27th, there was big news that would seem to indicate that that kind of growth isn't slowing down anytime soon. Proclaiming 9-27-22 "KenTRUCKy Day," Governor Andy Beshear announced the Ford Motor Company will begin manufacturing its all-new F-Series Super Duty® pickup truck.
AN UPGRADE TO THE TRUCK PLANT AND MORE JOB OPPORTUNITIES
This will require a $700 million upgrade to the Louisville truck plant and bring in 500 new jobs. More than likely, it will also help increase Kentucky's manufacturing profile. From a lay standpoint, it seems the more you can do, the more you'll be trusted to do.
'BLUE OVAL CITY'
It was a year ago to the day when Ford announced it would dedicate $11.4 billion dollars to a sites in Kentucky and Tennessee for the creation of massive manufacturing facilities. In Stanton, Tennessee, "Blue Oval City" will be used for vehicle assembly, battery production, and a supplier park. From Autoblog.com:
It will be the home of approximately 6,000 new jobs and will serve as “a hive of technical innovation” to build next-gen electric F-Series trucks. Ford says it will be a vertically integrated system and feature numerous sustainability solutions and use renewable resources. The goal of the plant will be total carbon neutrality by the projected start of production in 2025.
'BLUE OVAL SK BATTERY PARK'
Its sister facility in Glendale, Kentucky near Elizabethtown is called "Blue Oval SK Battery Park" and will be a battery production hub for electric vehicles. From the Ford Motor Company:
In central Kentucky, Ford plans to build a dedicated battery manufacturing complex with SK Innovation – the $5.8 billion BlueOval SK Battery Park – creating 5,000 jobs. Twin battery plants on the site are intended to supply Ford’s North American assembly plants with locally assembled batteries for powering next-generation electric Ford and Lincoln vehicles.
I love announcements like this. The more major manufacturing and production that can find its way to Kentucky and be successful, the more other companies will take a longer look at the Commonwealth.
That sounds like nothing but good news.