Gov. Andy Beshear highlighted Kentucky's economic momentum by announcing that 2026 marked the best first quarter for economic investment in state history, with more than $7 billion in announced and approved projects.

Since taking office in December 2019, Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50 billion in announced investments, creating more than 70,000 jobs—a record that exceeds any previous governor in the commonwealth's history by $29 billion.

The strong first-quarter performance came despite recent setbacks in the state's electric vehicle manufacturing sector. In December 2025, Ford announced it was ending its joint venture with SK On for their U.S. battery factories. The Beshear administration subsequently negotiated revised terms under which Ford agreed to invest $2 billion at the facility in Hardin County to manufacture energy storage systems, creating at least 2,100 full-time jobs.

Recent announcements have continued to drive growth across manufacturing and technology sectors. Displate Manufacturing, a Poland-based company specializing in metal poster artwork, announced plans to establish its first Kentucky operation in Louisville with a $9.5 million investment and 79 quality jobs. Toothsure, an oral hygiene products company, announced a $7.3 million investment in Perry County creating 60 jobs, while Global Business Solutions announced a $6.8 million technology expansion in Covington.

The administration also highlighted Kentucky's emerging position as the battery capital of the United States, with major projects including AESC's $2 billion gigafactory in Warren County and Ford's $2 billion commitment in Louisville. Beshear's administration secured the largest General Fund budget surplus and Rainy Day Fund in state history, and in 2023, Kentucky recorded over 2 million jobs filled for the first time ever.

Wages have risen across the state as well, with the average incentivized hourly wage hitting $29.58 in 2025, the highest on record. Kentucky also secured rating increases from major credit rating agencies including Fitch Ratings, S&P Global Ratings and Moody's Investors Service.