On Sept. 27, Gov. Andy Beshear, Ford Motor Company and SK Innovation announced the single largest economic development project in the history of the commonwealth, celebrating a $5.8 billion investment that will create 5,000 jobs.
Ford Motor Co. and SK Innovation will build two electric battery plants in the BlueOvalSK Battery Park in Hardin County, shattering every economic development record. Production of the advance lithium-ion batteries will begin in 2025.
“This investment gives Kentuckians an opportunity to embrace change and rely on our partnerships to build the infrastructure we need as Kentucky becomes a leader in the electric vehicle market,” said Brett Traver, Executive Director of Southeast Kentucky Economic Development.
Brett Traver
Executive Director,
Southeast Kentucky Economic Development
When looking at the regional impact of Toyota in Georgetown and Ford in Louisville, this investment translates to not only a victory for central Kentucky, but for the whole state–from suppliers to small businesses.
From a global perspective, the surge of electric vehicle (EV) production represents an enormous shift in how the energy sector and transportation sector interact. EV sales are expected to capture 9 percent of the auto market this year, triple the 3 percent share it had in 2019.
“This investment gives Kentuckians an opportunity to embrace change and rely on our partnerships to build the infrastructure we need as Kentucky becomes a leader in the electric vehicle market,” said Brett Traver, Executive Director of Southeast Kentucky Economic Development.
As the project continues to evolve, SKED will be sharing how our region is predicting and preparing for the economic impact.
photo credit: Ford Motor Company
