Kentucky’s economic outlook continues to trend in a positive direction. In the 2035 edition of Rich States, Poor States, Kentucky was 24th in economic performance and 27th in economic outlook.
Senate President Robert Stivers said the gains can be traced back to when Republicans gained the House majority in 2016. The state ranked 33rd that year and has been building momentum since.
“Kentucky’s rise to 24th in economic performance and from 28th to 27th in economic outlook reflects the steady progress we’ve made under strong, conservative leadership in the General Assembly,” Stivers said. “While other states are floundering under bloated budgets and high tax burdens, Kentucky is showing what happens when you commit to responsible governance and pro-growth policy.”
Stevers said the rankings show the Republican supermajority’s focus on cutting taxes, attracting investment and empowering the workforce has been beneficial.
“We’ve prioritized policies that make Kentucky competitive—from maintaining our status as a right-to-work state to delivering on tax reform and keeping the government’s footprint lean.
“Let’s be clear: this is not the result of federal handouts or temporary trends. This is a direct outcome of the policies we’ve championed and the priorities we’ve codified in law. We’ve made Kentucky a place where businesses want to grow, and families want to stay.”
In March, Gov. Andy Beshear said Kentucky ranked in the top five for economic development projects per capita in Site Selection magazine’s 2024 Governor’s Cup rankings.
In the South Central region, Kentucky placed second for regional projects per capita, as well as third for total projects, with 187 announcements in 2024.
“These 2024 Governor’s Cup rankings showcase what we already know: Kentucky is witnessing unprecedented economic growth and setting a strong foundation for long-term success,” Beshear said. “Hundreds of new and expanding companies are selecting our New Kentucky Home for their projects and creating jobs throughout the commonwealth. I am proud to see not only recognition for what we have accomplished as a state, but also significant growth in so many of our communities.”
In addition to the commonwealth’s strong placement in the South Central region, several Kentucky communities were recognized for their economic success in 2024, with categories based on population size.
Bowling Green, for the second year in a row, placed first among top metro areas by total projects with populations between 50,000 and 200,000. The community also moved to the top spot in the per capita category.
Paducah and Owensboro also placed in the top 10 in the category for both total projects and per capita.
Louisville/Jefferson County and the Northern Kentucky/Cincinnati region both took spots in the top 10 for metros per capita for populations over one million, in addition to Northern Kentucky/Cincinnati placing seventh in total projects, with 126.
Lexington/Fayette County placed fifth per capita and tied for ninth overall in top metros with populations between 200,000 and one million, with 25 projects.
Paducah was recognized with top 10 spots in the 2024 Top Mississippi River Corridor Metro rankings, in both total projects (eighth) and projects per capita (second).
Additionally, eight Kentucky communities placed in the Top Micropolitans rankings by number of projects – the sixth most nationally – including Richmond-Berea, Corbin, Frankfort, Somerset, Campbellsville, Danville, Franklin and Madisonville.
“Our work is far from over. While we’re proud of this progress, we will continue to advance legislation that strengthens our economy, protects taxpayers, and secures Kentucky’s future,” Stivers said. “The people of this commonwealth deserve nothing less.”
You can find Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, a comprehensive report that ranks the economic competitiveness of states using 15 equally weighted policy variables, at the following link https://www.richstatespoorstates.org/
Senate President Robert Stivers said Kentucky's economic gains are the product of a GOP supermajority since winning the House in 2016. (LRC photo)
