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‘Not only are we bouncing back, we have bounced back’: Gov. Andy Beshear gives Team Kentucky update

Published: Oct. 21, 2021 at 11:59 AM EDT
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FRANKFORT, Ky. (WYMT) - Governor Andy Beshear held a Team Kentucky update on Thursday.

He spoke about Kentucky’s economic status, calling it an “economy on fire”.

The Governor opened the briefing by talking about the Ford battery plant that will be coming to Kentucky.

“It’s so big it’s hard to process,” he said. “Kentucky is the talk of every boardroom across America and every country in this world.”

Members of the Elizabeth Town and Hardin County leadership were also at the capitol to celebrate the announcement.

“No matter where I am in Kentucky, they’re excited about it,” said Beshear about the Ford battery plant.

The Governor then welcomed KCC companies president, Joel Streeter to share information about the company’s upcoming project in Shelby County.

KCC is planning to build a new facility in Kentucky that will potentially create 700 new jobs with an average hourly wage of $29 an hour, including benefits.

The Governor then took time to talk about Horse Soldier Bourbon. The bourbon company, named after the horseback soldiers that fought in Afghanistan, will be returning to its Kentucky roots after breaking ground on a new facility in Somerset. The new location will offer tourism activities, a visitor center and more. You can read more about the facility here.

Beshear also talked about the new Cumberland Mint racing facility, which will be a new horse gaming, and eventually horse track, attraction in Eastern Kentucky.

You can find more information about the economic developments and projects in the state in the Governor’s video, which is attached to the bottom of this story and on our Facebook page.

The governor celebrated a recent release from a consensus forecasting group, which is a group of economists who give predictions on what the economy will look like in the future. The state’s final forecast will be issued in December, but the state is already above the original forecast this year. according to the most recent release from the consensus group, the current 2022 estimate is over 13 billion. This is 1.7 billion higher than what was originally estimated, showing a growth rate of over 5%.

Governor Beshear also gave an update about Kentucky’s COVID-19 status. We will have a story available on Thursday’s numbers when they become available.

You can watch the livestream below.

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