FRANKFORT, KY - On July 25, 2024, Gov. Andy Beshear provided an update on economic development; the largest General Fund surplus on record; the two-year anniversary of historic flooding in Eastern Kentucky; a federal disaster declaration following Memorial Day weekend storms; the two-year anniversary of the 988 lifeline in Kentucky; and grants to support veterans. The Governor also named Kentucky State Police’s civilian employees as this week’s Team Kentucky All-Stars.

Economic Development
The Governor recapped his recent economic development trip to Japan and the Republic of Korea, where he met with leaders at existing Kentucky companies, including Akio Toyoda, chairman of Toyota Motor Corporation. The Governor met with 18 companies that provide 15,000 full-time jobs in Kentucky, with 7,000 announced new jobs on the way. The Governor also met with business leaders considering future investment in the United States.

“Japan and South Korea have been an incredibly important part of our success here in Kentucky over the last forty years, and even more so over the last four years,” said Gov. Beshear. “Not only was this trip a great way to promote continued economic development in our commonwealth, but it also provided an opportunity to continue to make good connections within the governments of these two countries and the Commonwealth of Kentucky.”

The Governor announced that Mitsubishi Electric US will repurpose an existing manufacturing facility in Maysville to produce highly efficient heat pump compressors, which will bring 122 full-time jobs with a $143.5 million investment. The Governor met with Mitsubishi Electric’s leadership during last week’s visit to Japan to discuss the company’s longstanding partnership with the commonwealth.

Gov. Beshear highlighted exciting news within the state’s food manufacturing sector as Mizkan America, an industry-leading producer of pasta sauce and vinegar products, announced plans to expand their current facility in Owensboro with a $156 million investment creating 44 new Kentucky jobs.

The Governor highlighted more momentum within the state’s manufacturing industry as PEAK Precision Manufacturing, a start-up mass production and manufacturing business, will establish a new facility in Bowling Green with a $3 million investment creating 24 full-time, Kentucky jobs.

The Governor announced more than $1.1 million in state funding to support site and building development projects in Rockcastle and Rowan counties for future job growth through the Kentucky Product Development Initiative.

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.

Largest General Fund Surplus on Record
The Governor announced that fiscal year 2024 ended with the largest General Fund surplus on record, at approximately $2 billion. This is the fourth consecutive year that the General Fund surplus has exceeded $1 billion. The entirety of the surplus will be deposited into the Budget Reserve Trust Fund, bringing its balance up to $4.5 billion.

Two-Year Anniversary of Eastern Kentucky Flooding and Upcoming Visit
The Governor provided an update on recovery and rebuilding efforts in Eastern Kentucky as we approach the two-year anniversary of the devastating floods. Progress includes:

- FEMA has approved Individual Assistance for 8,775 survivors, totaling more than $110.5 million under the Individual and Households Program.
- FEMA has provided over $84.7 million to acquire over 500 homes and help families move out of flood prone areas in five counties.
- 138 bridges have been either repaired or replaced.
- $297 million have been secured in federal disaster recovery funds to help areas rebuild.
- The Team Eastern Kentucky Flood Relief Fund has raised more than $13.4 million from over 41,500 donors. The fund paid the funeral expenses of the Kentuckians we lost, provided immediate relief payments directly to individuals who suffered property damage and is now being used to rebuild and repair homes with nonprofit partners.
- The Governor has announced seven high-ground communities in four counties that will bring over 500 new homes to the area.

Friday, the Governor will travel to Floyd, Knott, Perry and Breathitt counties to commemorate the events and to share some good news on housing and progress on infrastructure.

Federal Disaster Declaration Approved Following Memorial Day Weekend Storms
After a severe weather system that ultimately took the lives of six Kentuckians moved through the commonwealth on the weekend before Memorial Day, Gov. Andy Beshear declared a state of emergency and requested a federal disaster declaration, which was approved Tuesday by President Joe Biden. The Governor requested the declaration in June, and the approval makes federal funding available to affected individuals in Butler, Caldwell, Calloway, Christian, Clay, Greenup, Hopkins, Knox, Logan, Muhlenberg, Simpson, Todd, Trigg, Warren and Whitley counties. Funding is also available to eligible local governments and certain private nonprofit organizations in 53 counties to repair or replace damaged facilities. For more information, see the full release.

Two-Year Anniversary of 988 Suicide and Crisis Lifeline
The Governor highlighted that July 16 marked the two-year anniversary of the 988 suicide and crisis lifeline in Kentucky. Since the launch of the free, confidential, 24/7 line, counselors have received over 84,000 calls, 25,000 text messages and 15,000 online chats from Kentuckians. The commonwealth has seen a 28% increase in calls routed to in-state centers since the launch, meaning that more Kentuckians are being helped by Kentuckians.

Currently, calls are answered in-state at an average rate of 23 seconds, which is 13 seconds faster than the national average. The commonwealth has a network of 13 in-state call centers and is working to add a 14th call center before the end of the year.

Veteran’s Program Trust Fund Grants
The Governor announced more than $181,500 in funding from the Veterans Program Trust Fund, will go to eight organizations supporting Kentucky veterans. For more, see the full list of awards.

Team Kentucky All-Stars
Gov. Beshear recognized Kentucky State Police’s civilian employees as this week’s Team Kentucky All-Stars. Today, Lt. Gov. Jacqueline Coleman joined the Kentucky State Police (KSP) at their annual awards ceremony to honor 15 civilian employees for their dedication to enhancing public safety during the previous year. Awards presented include the 2023 Civilian of the Year, Career Achievement, Police Communications Support and Supervisor of the Year, among others.

“KSP has 800 civilian employees that work in telecommunications, information technology, forensic testing and more. These folks embody the teamwork, strength and dedication that the Kentucky State Police is known for,” said Gov. Beshear. “Let’s thank these Team Kentucky members for going above and beyond to ensure the safety of their fellow citizens. We are proud to have you on Team Kentucky.”