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KY ranks 9th nationally for new and expanding industry projects Campbellsville ties for #65 micropolitan areas in the United States, based on Flourotubing and INFAC industries; other Kentucky micropolitan areas include Danville, Frankfort, Glasgow, Madisonville, Murray, Somerset, Paducah in Site Selection Magazine rankings. Two larger communities, Owensboro and Bowling Green recognized. From Commonwealth News Center FRANKFORT, Ky. - The results for Site Selection magazine's annual Governor's Cup ranking are in, placing Kentucky 9th in the nation for new and expanded industry activity in 2008. The ranking, which marks Kentucky's highest placement in the ranking since its inception, is based on a state's total number of qualified projects as tracked by Conway Data Inc.'s New Plant database. Kentucky has the smallest population of any state ranked in the top 10. A total of eight smaller Kentucky communities also fair well in the magazine's Top Micropolitan Ranking. Frankfort (T14), Paducah (T26), Danville (T41), Glasgow (T41), Madisonville (T41), Campbellsville (T65), Murray (T65) and Somerset (T65) made the 2008 Top Micropolitans list. "Kentucky is proud to finish as one of the top 10 in the nation for business expansion activity during 2008," said Gov. Steve Beshear. "This ranking demonstrates that even through tough economic times, Kentucky can still be competitive in expanding our industrial base." Qualified projects include those that meet at least one of three criteria: (1) involve a capital investment of at least $1 million, (2) create 50 or more jobs, or (3) add at least 20,000 square feet of new floor space. During 2008, Kentucky generated 162 projects that met the database requirements. In total, 280 location or expansion announcements were reported in Kentucky resulting in 11,536 net new jobs created. Investment was estimated at more than $1.8 billion. "Kentucky's economic development team demonstrated in 2008 that it can deliver what a significant number of corporate site selectors are looking for, even in a challenging economic climate," said Mark Arend, editor in chief of Site Selection magazine. "A top 10 finish in our annual Governor's Cup competition should motivate other site seekers to take a closer look at what's happening in Kentucky." Site Selection publisher Conway Data has showcased the annual Governor's Cup rankings since 1978. Its yearly analyses are regarded by corporate real estate analysts as "the industry scoreboard". The magazine's circulation base consists of 44,000 executives involved in corporate site selection decisions. In addition to the Governor's Cup, two Kentucky metropolitan areas are recognized in their respective categories for the number of industry location and expansion projects. For metro areas with a population less than 200,000, Owensboro and Bowling Green tied for 8th place with six qualifying projects each. The article and rankings can be viewed in their entirety at www.siteselection.com. This story was posted on 2009-03-10 12:18:05
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