The Richmond Register

March 5, 2013

Richmond gets high ranking by industrial publication


Register staff report

RICHMOND — Just two days after Moody’s Investor Service upgraded Richmond’s credit, the city got some additional good news Tuesday.

The city tied for 30th place nationally among micropolitan areas in Site Selection magazine’s annual rankings of cities with successful industrial development projects.

Also tied for 30th were Paducah and Union City, Tenn., both west of the Tennessee River.

Nearby Lexington was ranked seventh among cities from 200,000 to 1 million population.

Kentucky was ranked 10th among the 50 states.

Projects considered in the rankings include those that meet at least one of three criteria:

· Involve a capital investment of at least $1 million;

· Create 50 or more jobs; or

· Add at least 20,000 square feet of new floor space.

Glasgow and Frankfort, tied for 23rd, outranked Richmond among Kentucky’s micropolitan areas.

Other Kentucky cities in the rankings were: Campbellsville, Maysville and Somerset, tied for 45th; Danville and Murray, tied for 86th.

“Kentucky’s 10th-place finish in our annual Governor’s Cup facilities race is evidence that more and more companies are finding in the commonwealth the location criteria they require in today’s economy,” said Mark Arend, Site Selection’s editor-in-chief. “My colleagues and I congratulate Gov. Beshear, his economic development team and the local and regional economic development professionals who worked to make Kentucky the right location choice for so many expanding companies.”

During 2012, Kentucky generated 196 projects that met the the magazines standards for consideration consideration.