Industry Publication Names BlueOvalSK Among Manufacturing Projects of the Year | Company

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The Glendale megasite, now home to BlueOvalSK Battery Park, continues to bring national recognition to Hardin County and the state.

According to a press release from Governor Andy Beshear’s office, the governor announced on Friday that the industry publication Area development awarded Kentucky’s third Gold Shovel in six years and named Ford Motor Co. and SK Innovation’s investment in the BlueOvalSK Manufacturing Projects of the Year.

“This is tremendous recognition for both the BlueOvalSK project and Kentucky,” Beshear said in the statement. “This commitment from Ford and SK Innovation is central to our recent economic success and will continue to drive growth in Central Kentucky and across the state for decades to come.”

Last September, Beshear and executives from Ford and SK Innovation celebrated a transformative $5.8 billion investment to establish BlueOvalSK in Hardin County and create 5,000 jobs. The project represents the largest announcement of investment and job creation in the history of the Commonwealth.

In 2021, Kentucky set a record for announcements of new locations and private sector expansion totaling a record $11.2 billion in planned investment with commitments to create a record number of more than 18,000 jobs full time for the next few years. The average Commonwealth incentive hourly wage for statewide projects in 2021 was $24 before benefits, a 9.4% increase from the previous year.

Kentucky received Area Development’s 2022 Gold Shovel Award for states with populations between 3 and 5 million. The state had previously received the award in 2017 and 2018 as well as nine Silver Shovel awards since 2007.

Area developmentThe annual awards recognize states for their achievements in attracting high value-added investment projects that will create significant numbers of new jobs in their communities. The awards are based on a combination of weighted factors, including the number of new jobs to be created relative to the state’s population, the combined amount of investment, the number of new facilities, and the diversity of industries represented.

Site Selection The magazine previously placed Kentucky sixth in its annual Prosperity Cup rankings for 2022, which recognizes state-level economic success based on capital investment.

In addition to the BlueOvalSK project, Governor Beshear was joined by Envision AESC management in April to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements cement Kentucky as the nation’s capital of electric vehicle battery production.

According to the release, the economic momentum has continued through 2022, with S&P Global Ratings and Fitch Ratings raising Kentucky’s financial outlook to positive in recognition of the booming Commonwealth economy.


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