Members of the South Western Kentucky Economic Development Council focused on their plans and goals for the next five years at their Monday meeting.
Before spotlighting the economic development goals for 2030, Council Executive Director Carter Hendricks talked about the progress made toward the five-year goals set in 2020. Hendricks says the council had the goals of establishing 5,000 new jobs and over $1 billion in new capital investments by 2025.
Since 2020, $3 billion has been announced in capital investments, and 2,700 new jobs were established across Christian, Todd and Trigg Counties.
Looking toward their goals for 2030, Hendricks says they hope to create 2,500 new jobs; increase average entry level wages to $20 per hour; create over $3 billion in new capital private investments; increase regional manufacturing gross domestic product (GDP) by 20% and secure over $20 million in grants for product development and land acquisition.
Over the next five years, Hendricks says their goal is to economically grow while also ensuring that existing regional industries have their employment needs met.
The council would also like to recruit at least one new company from the following target sectors: automotive, agriculture, aerospace, advanced manufacturing, chemical production and logistics and distribution. Hendricks says the target sectors represent current industries that have production facilities in the region.
Hendricks also spotlighted the possible widening of Interstate 24 in Kentucky. He says if I-24 is widened then it will improve accessibility to regional industrial parks.
A feasibility report regarding the widening operation is set to be completed in early 2026.