Press Release
Media Contacts:
Terri Bradshaw, KY Capital Development Corporation, 502-226-5611 or 502-330-1732
For Immediate Release – March 3, 2016
FRANKFORT COMMUNITY RECEIVES TOP ECONOMIC DEVELOPMENT RANKINGS
Frankfort Micropolitan Area Ranked 7th In Nation, 1st In Kentucky For 2015 New Or Expanding Businesses
March 3, 2016 –Frankfort, KY— The March 2016 edition of Site Selection magazine named the Frankfort/Franklin County Micropolitan Statistical Area as the 7th top-performing small town community in the nation for new and expanding business projects in 2015. Frankfort/Franklin County also ranked as the top such community in Kentucky.
The magazine recognized Frankfort for 7 new or expanding facilities in the area. The community earned its prestigious ranking among over 600 micropolitan areas for seven expanding projects: Beam Suntory, IDT Tools Inc., Mitsui Kinzoku Catalysts America Inc., Nashville Wire Products, Roller Die & Forming Co. Inc., Custom Data Processing and The Recon Group. Together, these seven projects represent a community investment of $7,671,019 and the addition of 170 jobs.
According to Terri Bradshaw, Executive Director of Kentucky Capital Development Corporation, “We nearly doubled the number of announced expansion jobs from the previous year and gained over $7.6 million dollars of investment into the community. The socio-economic impact this investment has on employment and income, housing, market effects, public services and aesthetics of the community is astounding,” she said. “We are fortunate to have a proactive group of corporate and civic leaders who know how to forge connections that continue to make this community stronger.”
Bradshaw noted that the community will feel the benefits of these projects in 2016. The rankings are based upon planned locations or expansions that were approved or initiated in 2015.
Franklin County Judge Executive Huston Wells echoed Bradshaw’s sentiments on this prestigious award. Wells also noted this will open up many doors for Franklin County in the future. “This is a great honor, and it most certainly will help economic development in our area,” said Wells. “Future projects looking at new or expanded locations will certainly take notice.”
“It is an honor and we are grateful for the continued support and collaboration we receive from the community that allows us to receive such acknowledgement in one of the country’s most highly-regarded economic development publications,“said Frankfort Mayor Bill May.
Site Selection, a trade journal for site-selection consultants, corporate decision-makers, and economic developers, bases this ranking on projects that involve a capital investment of at least $1 million, creates at least 50 new jobs or adds at least 20,000 SF of new floor area.
The magazine boasts a readership of more than 48,000 executives involved in site-selection decisions. Economic insiders and corporate real estate analysts consider Site Selection’s annual list to be “the industry scorecard” and a resource for potentially expanding and new industry.
The article and more information about Site Selection’s national micropolitan rankings may be found under the link “Top Micropolitans of 2015” found online at .