Lexington, Ky. – Kentucky ranked No. 46 in the nation for labor supply in Forbes magazine’s annual Best States for Business feature. However, overall the Bluegrass State ranks No. 28 as the best state for business.
In determining the rankings, the magazine measures six categories for business: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. (Click here to see a detailed explanation behind each category)
In the other five categories, Kentucky fared better: No. 14 in business costs, No. 32 in regulatory environment, No. 20 in economic climate, No. 23 in growth prospects, and No. 23 in quality of life. (Click here to see Kentucky’s profile)
The state’s labor shortfall is not news to business leaders and officials, as numerous workforce development initiatives and agencies have gained momentum recently across many industries – especially in auto manufacturing, where Kentucky has 474 motor vehicle-related facilities that employ 86,672 employees, according to the Forbes feature.
Utah topped the annual list as the best state for business, with West Virginia coming in last. In the immediate region, Ohio ranked No. 15, Tennessee ranked No. 19, and Indiana made the top ten in the No. 8 spot. (Click here to see the full list)