Louisville City Wire

Louisville’s economic momentum remained strong in 2023 with Louisville Metro Government’s Economic Development team locating 59 projects that represent just over $1 billion in new investment. The new investment brings 2,302 new jobs with an average wage of nearly $60,000.

“This has been a transformative year for Louisville,” said Mayor Craig Greenberg. “I am proud of the investment we received this year. I look forward to even greater economic success as we begin implementing our new economic development plan, Growing Louisville Together. We remain focused on creating opportunities for people in all of our city’s neighborhoods through continued investment in quality of life, educational opportunities, and support for entrepreneurs and startups. As we look forward to 2024, we remain committed to fostering a thriving, inclusive, and sustainable economy for all Louisvillians.”

 

Among the major projects announced this year are:

• Stellar Snacks, a new $137 million manufacturing plant creating 350 new jobs;
• Midea America Corp., a $35 million expansion with 200 new jobs;
• Congo Brands, a $23.4 million expansion with 500 new jobs;
• Multi-Color Corporation, a $22.9 million expansion creating 90 new jobs; and
• HJI Supply Chain Solutions, a $14.7 million expansion adding 76 new jobs.

 

With its investment in the Park Hill neighborhood, Stellar Snacks is one of the most exciting economic development projects to locate in west Louisville in at least 20 years. Company co-founder Elisabeth Galvin said she knew Louisville was the right place to open a new facility as soon as she landed in the city.

 

“I felt the magic. I felt the energy of the city and the people,” she said during an October press event. “We are so humbled to partner with this incredible community to take Stellar to the next level and have some fun in the process.” 

 

While the initial announcement of economic development projects sparks excitement, the completion of those projects is even more important. In 2021, GE Appliances made a commitment to Louisville to invest $450 million at its Appliance Park headquarters and add more than 1,000 jobs to the manufacturing hub by the end of 2023. This September, GE Appliances, a Haier Company, completed that commitment by unveiling two new state-of-the-art assembly lines in the dishwasher manufacturing facility.

 

The Louisville Metro Department of Economic Development works in concert with the city’s real estate development and land use planning staff to offer concierge service to companies looking to grow their business or locate new operations. The team convenes all local and state partners to ensure companies looking to locate or grow in Louisville have a single point of contact throughout the entirety of their project and beyond. 

 

“I am so proud of our team for another banner year in creating an environment for economic growth and opportunity. Numbers speak for themselves, but the true impact of the work of economic development is in the opportunity our work creates for all Louisvillians,” said Benjamin Moore, Director of the Department of Economic Development. “These investments highlight the fantastic opportunities that Louisville offers new and existing companies to establish, grow and thrive here by providing them world-class service, while maintaining our dedication to growing equitable economic development for our entire community.”

 

Louisville continues to rank as a top place to live and work, receiving numerous accolades and recognitions throughout 2023:

• Site Selection Magazine - No. 1 in the Ohio River Corridor for economic development 
• Travel + Leisure Magazine - No. 4 Most Beautiful and Affordable Place to Live in the U.S.
• Livability - A Best Place to Live in the U.S. in 2023
• E2 - Kentucky ranked second fastest growing clean energy sector in the U.S.
• Travel + Leisure Magazine - No. 9 Foodie City in the U.S.
• Realtor.com - No. 3 Top Housing Market of 2023
• Received a perfect score on the Human Rights Commission’s Municipality Index for nine years in a row

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About the Department of Economic Development

Since 2014, the Department of Economic Development team has located projects totaling more than $11.7 billion of investment and 40,726 new jobs. For nine straight years, the team has received the Mac Conway Award for Excellence in Economic Development from Site Selection Magazine, the leading economic development publication in the U.S., and Louisville was named a Top 5 U.S. Metro for Economic Development.

Learn more about the city’s economic development initiatives at 

https://louisvilleky.gov/government/economic-development

Original source can be found here.