State nearing yearly corporate-investment record
FRANKFORT, Ky. (May 15, 2017) — Vivek Sarin has been named an executive officer with the Cabinet for Economic Development.
Sarin will help develop workforce strategies to ensure existing and new companies can locate the talent necessary to meet their objectives. He also will lead numerous strategic initiatives related to improving the state’s business climate.
Sarin, founder and president of Juvo Company, a professional services firm, also brings an extensive manufacturing background. His leadership experience gives him first-hand involvement and insight into the challenges and opportunities of operating a business in today’s global environment.
For more than 20 years, Sarin led Shelby Industries LLC, a manufacturer of towing and trailering equipment based in Shelbyville. The company produced and sold Kentucky-made products to customers across the globe and employed more than 100 Kentuckians in its peak. Shelby Industries closed recently due to increasing challenges from foreign competition.
Cabinet leaders anticipate Kentucky this month will surpass the $5.1 billion corporate-investment record set in 2015. With nearly 8,700 new jobs already announced this year through mid-May, the state is on pace to see more new positions created than ever. Based on feedback from Kentucky’s business community, and with the state’s unemployment rate already low, leaders across state government, in the private sector and in the military are working together to implement new and fortify existing workforce development structures.
New jobs this year could surpass the record of the past decade of nearly 16,200 announced in 2016. To ensure Kentucky’s businesses can source the employees they need, leaders across state government are revolutionizing the commonwealth’s workforce development systems.