“Supply Kentucky” initiative launched by governor to bolster state’s manufacturing power
The Bluegrass State’s economy relies heavily on manufacturing, accounting for nearly 12.5% of its entire workforce. Compare this to the national number of 8%. Kentucky Gov. Andy Beshear is looking to strengthen that sector and expand Kentucky’s slice of the pie.
“Supply Kentucky” is a new initiative launched by Beshear with the goal of funneling job growth into the region, minimizing manufacturing costs, and developing more secure supply chains in the state. Its launch includes a new online platform provides a free database of manufacturers and suppliers in the state of which companies can develop business relationships. Frank Jemley, president and CEO of the Kentucky Association of Manufacturers, is voicing the organization’s support behind the initiative. However, Republican Party spokesman Sean Southard is labeling the governor’s move as “the bare minimum” and “something that should’ve been done long ago.”
Taiwan Semiconductor Manufacturing Co. (TSMC), a global leader in semiconductor fabrication, is set to receive a significant boost in the U.S. with up to $6.6 billion in funding from the U.S. government.