Kentucky freight shipments are currently among the nation’s highest and are expected to increase by nearly two-thirds in the coming years. However, without adequate infrastructure funding for needed transportation improvements, Kentucky’s continued economic growth could be at risk.
Handrail manufacturer Hollaender Manufacturing Co. plans to set up an operation in Somerset, Kentucky. The company will invest $667,000 and is expected to create up to 16 full-time jobs.
Meggitt PLC is investing nearly $83 million in a 95,000-square-foot expansion, creating 83 jobs. Upgrades will include new carbon furnaces at the facility, which currently employees 200 people.
Another shift and 400 new employees are needed at the Corvette plant in Bowling Green, bringing the total to over 1,300. The eighth generation Corvette begins production soon and there is manufacturing need for national and international markets.
With a focus on sustainablity and reducing plastic use, Truman’s is a direct-to-consumer cleaning products company that raised $5 million to create a Louisville headquarters.
Six Kentucky tech companies will receive $1.9 million in state matching funds to stimulate technological innovation in the commonwealth while fueling growth and job creation for technology-based startups and small businesses.
Fibonacci company leaders, along with state and local officials, opened its $5.8 million-plus, 25-job HempWood manufacturing facility in Murray, Kentucky.