Workforce funding builds on support for 42,600 trainees in fiscal year 2024, the most in 8 years
FRANKFORT, Ky. (Aug. 15, 2024) – Today, Gov. Andy Beshear highlighted progress in the commonwealth’s mission of maintaining, developing and retaining its world-class workforce, further bolstering Kentucky’s surging economy.
Over 4,000 Kentuckians are expected to receive skills training thanks to support provided through the Bluegrass State Skills Corp. (BSSC), which oversees programs attached to the Kentucky Cabinet for Economic Development that help private-sector businesses establish industry-specific training initiatives.
“We have a world-class workforce here in Kentucky, and we are working hard to ensure the commonwealth develops and retains highly skilled workers for generations to come,” said Gov. Beshear. “To sustain our tremendous economic momentum, it’s crucial that we look to connect Kentucky workers with skills training opportunities at every turn. Equipping our residents with the tools they need to thrive is a core part of our mission to build a better Kentucky, and we are making great headway thanks to initiatives like BSSC.”
This month’s approvals included workforce training support for over 1,100 employees at T.J. Samson Community Hospital in Glasgow and an additional 113 trainees at T.J. Health Columbia. Other approvals include 115 trainees for Murakami Manufacturing USA in Campbellsville, 293 trainees at Roll Forming Corp. in Shelbyville, 565 workers at Sazerac Distillers in Owensboro, 108 trainees at AGC Flat Glass North America in Richmond and 197 workers at Novelis Corp. in Guthrie.
In fiscal year 2024, the BSSC board of directors approved roughly $19 million in funds and credits for 104 Kentucky facilities to train 42,600-plus workers, the most since 2016.
Building on that momentum, the BSSC board approved more than $1.7 million in training funds and credits for over 4,000 trainees across 26 Kentucky facilities during the first of four fiscal year 2025 meetings on Aug. 7.
Gov. Beshear previously announced over $10 million for 115 applicants throughout the state to train nearly 35,000 workers for fiscal year 2023. The state also provided over $8.4 million in funds and credits during fiscal year 2022. Those funds assisted with workforce training for more than 35,400 Kentucky employees.
Employers across the state benefit from BSSC’s Grant-in-Aid (GIA) and Skills Training Investment Credit (STIC) programs. GIA provides cash reimbursements for occupational and skills upgrade training at Kentucky businesses, while STIC offers state income tax credits for companies to offset the costs for approved training programs. Applications for both programs are accepted and considered for approval by the Bluegrass State Skills Corporation Board of Directors.
Types of operations that could qualify for BSSC incentives include manufacturing, agribusiness, nonretail service or technology, headquarters operations, state-licensed hospital operations, coal severing and processing, alternative fuel, gasification, renewable energy production or carbon dioxide transmission pipelines.
For more information on the Bluegrass State Skills Corp. or to apply for workforce training assistance, visit ced.ky.gov/BSSC.
Kentucky’s investment in workforce development builds on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $32 billion in announced investments, creating nearly 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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