Kentucky exports topped $28 billion in 2015, and it might keep growing.
A $220,000 grant from JP Morgan Chase will help businesses in a 22-county region in Central Kentucky find more markets for Kentucky exports and increase foreign investment.
The grant will be used in part to implement a Bluegrass Economic Advancement Movement’s or BEAM Global Trade and Investment Plan, which was unveiled Monday at a news conference.
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“We know that an intentional focus on foreign direct investment pays dividends so I’m proud that the BEAM team is putting our shoulders against this new challenge,” Gray said. “We’re starting from a strong position, with our clusters of advanced industries providing the leverage for future growth.”
International companies have made a substantial impact on Kentucky’s economy. In Central Kentucky, those companies includes Toyota, Birtley, Sumitomo and Coldstream Laboratories.
The BEAM Global Trade and Investment Plan is the second plan released in collaboration with Brookings Global Cities Initiative. The first plan outlined steps to increase exports in the region.
The grant from JP Morgan Chase, Brookings’ partner in the Global Cities Initiative, can be used to provide export grants, recruit more foreign investment and tap top leadership. Brookings Global Cities Initiative is working with 28 metropolitan areas, including Lexington and Louisville, to help those areas increase exports and attract more foreign investment.