Gov Beshear to Visit Three Countries During Asian Economic Trip

Apr 15, 2015

Credit Governor's Office

Governor Beshear is in the midst of an economic development trip, visiting three Asian countries.

He and his team are meeting with company and country officials in Taiwan, Singapore, and Japan. 

Cabinet for Economic Development Spokesman Joe Hall says the governor may not come back home with an expansion or new plant announcement in hand. 

"A lot of times these are forming relationships and discussing initial opportunities or even exploring opportunities," said Hall. "So, usually these trips do pay dividends. It just might not be right when he gets back." 

The cabinet reports nearly a third of all capital investments last year were the result of foreign owned enterprises.

More than 170 Asian-owned facilities, which employ 40,000 people, are in Kentucky. Over the past five years, Japanese companies alone have made investments in Kentucky facilities totaling more than $2 billion. That's expected to result in almost 6,000 new jobs. 

Last year, almost a third of all capital investments and a fifth of new jobs in manufacturing, service, and technology industries in Kentucky came from foreign owned enterprises.