Recently, Don our CEO, was honored to have been asked to speak and attend the National Dealer's Council in New York. He spent several days catching up on trends in addition to speaking on the state of the Kentucky economy. 
Below you will find his recap of the presentation that he delivered. 

The State of the Kentucky Economy

Kentucky is home to a booming economic industry with the main areas of impact being automotive manufacturing, bourbon distilling, logistics and distribution, plastics and rubber, and primary metals. 

Automotive Manufacturers

Automotive manufacturers include Ford, Toyota, and GM. There are also 480 auto-related manufacturers, service, and technology establishments. In total, there are 90,000 employees involved in this industry. Over 1.3 million vehicles were produced in Kentucky in 2015. Kentucky ranks third in auto industry-related employment as a percent of total stated employment. Two third of the counties in KY have an automotive-related employer. More than half of all U.S. motor vehicle-related establishments are within 500 miles of Kentucky.

Bourbon Distilleries

Bourbon distilleries total 52. Between the distilleries and the bourbon related industries, there are a total of 17,500 people employed. Bourbon barrel inventory currently stands at 6.7 million barrels. This industry contributes $8.5 billion to the state economy. This industry continues to grow and projections are that by 2020 economic output will be $10 billion and employment will be more than 20,000 people.

Logistics and Distribution

Logistics and Distribution facilities total more than 450 and employ more than 60,000 in Kentucky. Over 2.1 million packages are processed at Kentucky Logistics hubs. Kentucky is an ideal location for distribution centers as we are located within a day’s drive of 65% of the US population. Amazon is one of the area’s fastest growing creators of distribution centers with billions of dollars invested and growing.'

Rubber and Plastics

Rubber and Plastics have been an important part of the economy in Kentucky for years. Their presence is continuously growing. Currently, there are 225 plastic and rubber manufacturers in Kentucky that employ nearly 28,000 employees.

Primary Metals 

Primary metals facilities flourish in Kentucky. Innovations in manufacturing techniques have boosted this industry to the point that there are more than 180 aluminum-related facilities that employ nearly 20,000 people and add $2 billion to the state’s gross domestic product.  Steel and iron have long been staples of manufacturing and both will continue to be. Kentucky has 45 steel and iron production companies and these companies employ 7,300 full-time workers.

Some other developments have taken place recently that bode well for Kentucky, one such is the recent election of a Republican governor that has been working to make Kentucky more business-friendly. Efforts are under way to reduce red tape for businesses. All state regulations are being reviewed for effectiveness, need or duplication. Kentucky has also recently passed Right-To-Work legislation that is expected to boost our economy even higher. 

All signs point to a continuing thriving economy.

If you would like to learn more about Louisville Switching and the ways that we contribute to the Kentucky economy, we invite you to learn more about our company.