LOUISVILLE, Ky. – Louisville’s ability to attract new companies and help existing ones grow has earned it first place in Site Selection’s annual Ohio River Corridor rankings.
“Louisville continues to be a great place to do business, and we are working every day to improve our economy for all Louisvillians, particularly those who’ve historically been left behind,” said Mayor Greg Fischer. “Thank you to our economic development team at Louisville Forward for all their hard work.”
The magazine, whose readership includes CEOs, corporate real estate executives, human resource managers and consultants, ranked the areas by examining corporate facility project data on an overall and per-capita basis during an 18-month period, extending from 2019 into this past summer. The ranking looks at regions that abut the Ohio River.
During the first three quarters of 2020, Louisville has tallied 30 located projects, adding 1,253 jobs and representing $253.2 million in new investment.
“This recognition and the investment we continue to see in Louisville are signs of the ongoing strength of the local economy,” said Mary Ellen Wiederwohl, chief of Louisville Forward. “Although we are still tackling challenges around the COVID-19 pandemic and how to create a better, stronger and more equitable economy, Louisville’s cost competitiveness and strength in key economic growth sectors like advanced manufacturing, logistics, healthcare and technology continue to make our city an attractive place to do business.”
Louisville beat out the Greater Cincinnati region and Owensboro, Ky., which ranked second and third respectively, as well as Pittsburgh, which ranked sixth. Earlier this year, Louisville Forward also was recognized for the sixth year in a row as a “Top Economic Development Group” by Site Selection magazine, and in 2019, the city also was named a “Top Metro” in the South Central and East North Central regions.
In an article about the Ohio River Corridor rankings, Site Selection cites the attraction and growth of software group Bastian Solutions, health and aging innovation network Aging 2.0, UPS Worldport, and Eurofins, a high-end logistics, genetics testing and food testing company, as markers of Louisville’s positive trajectory.
The article also notes the success of Louisville’s 20-year-old Metro College workforce training and higher education partnership and new tech upskilling initiatives aimed at addressing the need for more tech talent and increasing opportunities for our city’s low-income residents.
In addition to the Ohio River Corridor rankings, the Louisville & Jefferson County Riverport Authority tied the city of San Jose, Illinois International Port District in Chicago, and the Board of Harbor Commissioners of the City of Los Angeles for seventh in Site Selection’s “Top 20 U.S. Foreign-Trade Zones In Combined Economic Impact.”