From Kentucky Public Radio’s Tony McVeigh
The new, tighter economy requires fresh thinking when it comes to industrial
prospects, says Kentucky’s top economic development official.
Economic Development Secretary Larry Hayes says, in the new economy, helping existing industries in Kentucky expand is becoming more important than trying to attract new industry. He says the state’s automotive industry is a good example.
“We need to make sure that we create the environment here in Kentucky where the automotive industry of the future is here and where we build on our existing manufacturing base,” says Hayes, “we’re trying to be the automotive capital of the future.”
Hayes says Kentucky has a workforce and work ethic that are very attractive to industry, and investments in training programs are paying off.
Hayes made his remarks while updating a legislative panel on the economic incentives package approved by lawmakers in the June special session.