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Gov. Beshear supports aid for Kentucky auto industry Auto industry employs nearly 82,000 people in Kentucky From Commonwealth News Center FRANKFORT, KY - "I am pleased that the House of Representatives passed last night emergency loans to the automotive industry, and I urge the United States Senate to quickly take the same action. At this time of economic uncertainty, I believe Congress should do everything in its power to assure that the auto industry maintains a strong economic foundation. "As I expressed to President-Elect Barack Obama in our recent meeting and in letters to congressional leaders, assistance to this industry is critical to the nation, and specifically to the economic vitality of Kentucky. "The auto industry employs nearly 82,000 people in Kentucky and is one of the cornerstones of our state's economy, adding $5.6 billion to our state's gross domestic product in 2006. In 2007, Kentucky produced more than one million cars and light trucks, accounting for nearly 10 percent of the U.S. market share. Kentucky-produced vehicles include the #1-selling car in America (Toyota Camry), the top-selling truck in the world (Ford F-Series) and the top-selling premium sports car (Chevrolet Corvette). The average weekly wage for motor vehicle manufacturing in 2007 was $1,770, compared to $702 for all industries in Kentucky. As our nation struggles to regain its economic footing, a bankruptcy in the auto industry is the last thing we can afford. An abrupt financial downturn could have a drastic affect on families in Kentucky and across the nation." This story was posted on 2008-12-11 18:15:51
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