FRANKFORT, Ky. — Gov. Andy Beshear provided updates on Kentucky's economic performance and state initiatives during a recent Team Kentucky Update, highlighting a seventh consecutive budget surplus and continued job growth across the commonwealth.

According to the Governor's office, Beshear discussed General Fund receipts and economic development achievements. Kentucky ended fiscal year 2026 with its seventh consecutive budget surplus, as General Fund receipts increased 1.7% to nearly $16 billion. The stronger-than-expected performance marked a significant turnaround from earlier projections that anticipated a $156 million revenue shortfall.

Revenues finished $320.6 million above the enacted budget and $476.6 million above the official forecast, providing the General Assembly with additional flexibility to address previous budget reductions. Beshear attributed the strong performance to his administration's fiscal management, noting that the governor said his administration plans to work with lawmakers to recommend using the surplus to address reductions in Medicaid, behavioral health services and senior meal programs.

On the economic development front, Beshear highlighted growth in Kentucky's food and beverage industry and announced two new Build-Ready sites in Lincoln County. Kentucky secured its place in the top five for economic development projects per capita, maintaining a top-five ranking during all six years of the Beshear administration.