Kentucky wins Area Development's Silver Shovel Award for second year
Gov. Andy Beshear announced that Kentucky has been awarded the Silver Shovel Award for the second consecutive year by Area Development, the industry publication recognizing states for exceptional economic development performance. The commonwealth also earned recognition for GE Appliances as a Manufacturing Project of the Year.
The Silver Shovel designation, awarded in the 3-to-5 million population category, represents Kentucky's fourth Gold or Silver Shovel honor during the Beshear administration. The recognition caps a record-setting 2025 for the state, when Kentucky recorded $10.5 billion in new private sector investments — the second-highest total in state history.
"We worked hard last year to attract great companies and create more good-paying jobs for our people, which resulted in our state's second-best year on record for new private sector investment," Beshear said in a statement. "This recognition reflects that Kentucky has the infrastructure and workforce needed to continue attracting the businesses of the future."
The award recognizes major 2025 projects including General Matter's $1.5 billion uranium enrichment facility in McCracken County, Apple's more than $2 billion investment in Corning's Mercer County facility to produce smartphone glass, Ford Motor Co.'s nearly $2 billion investment at its Louisville Assembly Plant for electric vehicle production, and Kroger's $391 million distribution center in Simpson County.
GE Appliances, a Haier company, was one of 20 projects nationally recognized as a Manufacturing Project of the Year. The company will invest $490 million and create 800 jobs at its global headquarters at Appliance Park in Jefferson County, with production of more than 15 washer models scheduled to begin in 2027.
The 2025 investments came from 185 new location and expansion announcements projected to create nearly 9,600 full-time jobs, with the average incentivized hourly wage reaching $29.58, the highest on record. Manufacturing projects alone accounted for nearly $9.5 billion in new announcements.