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Economic Outlook 2023: Transportation

By wmadministrator

“Despite economic uncertainty facing the U.S., I remain bullish on Kentucky’s economy. Because of the commonwealth’s diversified business landscape, I believe we can weather any market turbulence. With respect to aviation and logistics, Kentucky punches above its weight. CVG is the seventh-largest cargo airport in North America and the 18th largest globally—and the numbers keep improving. Continued capital investment by both the airport and its partners will take place in 2023, including construction of a new hangar by FEAM. I also anticipate increased tourism and business development thanks to new domestic and international flights starting next year, including British Airways’ direct service to London Heathrow and commencement of service by Breeze Airways to several West Coast destinations.”


“It is bright skies ahead for Blue Grass Airport! While our industry continues to seek solutions to workforce challenges, we are fairly

Eric Frankl “Blue Grass Airport”

optimistic that our airport will soon exceed pre-pandemic passenger levels. Avelo Airlines has recently launched nonstop flights to Orlando International Airport (MCO), providing our customers with a convenient travel option to one of the top travel destinations from Lexington. We are also looking forward to the return of Houston service from Allegiant in spring 2023, and we continue to see the airlines replacing 50-seat jets with larger airplanes that are more comfortable and spacious for our passengers.”


Susan Elkington “Toyota”

“Despite lingering supply chain challenges throughout 2022, our team has worked diligently to deliver America’s best-selling car and SUV—the Camry and RAV4—to our customers. In addition, we continue to perform a massive transformation of our operations in Georgetown, part of the $461 million investment announced in October 2021. When this project is complete, Toyota Kentucky will be poised to compete for new Toyota products made right here in the Bluegrass. Looking toward 2023, we’re optimistic as we continue to work to recover inventory levels. We expect the demand for alternative-fueled vehicles to continue to grow. We are well positioned to meet customer needs as the No. 1 seller of electrified vehicles for 22 years, a clear leader in this space.”


Dan Mann “Louisville Regional Airport Authority”

“The positive momentum at Louisville Muhammad Ali International Airport (SDF) will continue into 2023. Travelers can reach more places than ever before with 35-plus nonstop destinations—the most in airport history—that include Boston, Los Angeles and San Francisco on eight airlines. Capacity for passenger flights continues to reach pre-pandemic levels with the first quarter of the new year up 9% compared to 2019. Providing the best experience is essential to what we do each day and because of this, our SDF Next Program is progressing with investments of more than $400 million in terminal and airfield improvements in the coming years. This includes new baggage handling systems, an expanded security checkpoint and the airport’s geothermal system that will be the largest of any airport in the country. All the while, SDF remains a key player in cargo as the third busiest airport in North America and sixth in the world, delivering lifesaving cargo across the globe. SDF is poised for the future as the region’s air service options and cargo operations remain strong in the year ahead and beyond.”