Governor Steve Beshear's Communications Office
Gov. Beshear’s Statement on 5 Percent Growth in General Fund Revenues
FRANKFORT, Ky. – “In January I told lawmakers that Kentucky was back with a vengeance, and today’s news of the more than 5 percent growth in general fund revenues for FY 15 is further proof our momentum continues to accelerate. Over the last seven years, we have worked through the worst recession of our lifetime to grow Kentucky’s economy, and we get more and more good news every day. The excess revenues are broad based, led by growth in individual income and sales taxes, indicating that salaries and jobs are on the rise and consumer confidence is higher. Plus our hard work in economic development efforts is paying off with the growth in business taxes. This level of activity demonstrates that corporations continue to find the Commonwealth a favorable destination for business retention, expansion, and new business formation. Yes, we have some challenges, and more work to do, but we are seeing positive trends in almost all areas of the economy. Today’s revenue report certainly tells us that our economy continues to grow and, as a state, that we are moving in the right direction.”
– Gov. Steve Beshear.