Cabinet for Economic Development
Gov. Beshear to Make Economic Development Trip to Japan
Governor to meet with new business prospects, existing
industry executives on job-creation projects
FRANKFORT Ky. (Nov. 14, 2014) – In an effort to strengthen and
encourage international investment in Kentucky, Gov. Steve Beshear will depart
Saturday for an economic development trip to Japan.
During the five-day event, the Governor, accompanied by executive staff at
the Kentucky Cabinet for Economic Development, will showcase Kentucky’s
business-friendly climate and strengthen existing ties with Japanese companies
already operating in the Commonwealth.
More than 160 Japanese facilities are in Kentucky, employing more than
“We are very
determined in our efforts to engage and attract Japanese companies seeking to
locate or expand in the U.S., and our track record shows success,” said Gov.
Beshear. “It is my goal to continue to aggressively market Kentucky’s many
business advantages to the international business community and to bring more
investment and jobs to the Commonwealth.”
Japanese companies continue to make significant investments
in Kentucky. In the past two years, 52 Japanese companies have announced plans
to invest more than $1.3 billion statewide. Toyota, for example, is preparing
to roll out its new Lexus line in Georgetown – the first U.S. plant to produce
the luxury vehicle.
Earlier this year, a joint venture between UACJ Corporation,
of Japan, and Europe-based Constellium N.V. announced plans to open a $150
million aluminum facility in Bowling Green.
Other companies to announce projects recently include Kowa
(Corbin), Toyo Automotive (Franklin) and Green Tokai (Maysville).
direct investment has played an important role in boosting Kentucky’s economy.
Last year, nearly 40 percent of all capital investment and a third of new jobs
announced in the manufacturing, service and technology industries were a result
of foreign-owned enterprises.
“We are seeing more and more Japanese companies making
the decision to locate or grow here,” said Cabinet for Economic Development Secretary
Larry Hayes. “This trip will allow us to personalize those relationships and
build a strong case for Kentucky as the ideal location for their business
To boost economic development leads from Asian companies,
Kentucky also operates an international office in Tokyo, Japan. During the
upcoming trip, Gov. Beshear will follow up on several business opportunities
that have arisen thanks to the on-the-ground, in-country support designed to
develop relationships with Japanese business leaders.
Gov. Beshear is scheduled to return to Kentucky Nov. 20.
on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans
of the Cabinet for Economic Development can also join the discussion on Facebook
or follow on Twitter.
Watch the Cabinet’s “This is My Kentucky” video on YouTube.