Our manufacturers are focused on doing their jobs and doing them well while producing what their customers need.” “I’ve been impressed with my conversation with our members. “By and large, Kentucky manufacturers are optimistic about their prospects to strengthen and grow across the commonwealth,” Jemley said. “Kentucky’s reputation for exceptional products and global competitiveness are playing out in the form of more and more attention being paid to the state and more businesses locating their plants here,” he said. “Since 2017, the majority in the house has put an ‘open for business’ sign on the commonwealth with pro-growth policies, continued efforts at tax-reform and work to make us a better place to live and work on a daily basis,” he said.īeshear said the addition of the battery manufacturing plants would bring even more businesses to the state. Michael Meredith (R-Bowling Green) said legislative actions helped spur manufacturing growth. “We solidify the commonwealth of Kentucky is the undisputed electric battery production capital of the United States,” Gov. In April 2022, Envision AESC announced it would build an electric vehicle battery plant in Warren County for $2 billion. In September 2021, Ford Motors announced it would build a battery plant in Hardin County for nearly $6 billion. Over the past five years, the CED says, manufacturers have announced more than 1,100 facility location or expansion projects with a reported capital investment of more than $21 billion. Kentucky is third in the nation for automobile production.Īccording to the Kentucky Council for Economic Development, Kentucky’s central location, workforce and business-friendly environment have helped to lure new businesses to the state. Each year, manufacturing is responsible for $38.33 billion in output, accounting for 17.8 percent of the state’s gross domestic product. Of those, Jemley said, about 90 percent were in manufacturing.Ĭurrently, according to statistics from KAM, manufacturing employs an estimated 244,000 people across Kentucky - more than 13 percent of the state’s workforce - in nearly 4,500 manufacturing facilities. In 2021, Kentucky announced that more than 21,000 new jobs had been created state-wide. With over 600 sustainability reporting requirements across more than 80 countries 1, organizations are increasingly relying on the knowledge, skills and processes of finance professionals and accountants to make sure that they can address the growing demand for robust sustainability reporting.Ī4S’s work in this space includes guidance, thought-pieces and updates to help equip finance professionals with the appropriate skills, tools and knowledge to deliver the sustainability disclosures and reporting required by stakeholders.“It’s been as strong as we’ve seen it over the past 18 to 24 months,” Jemley said. As a result, investors and other stakeholders are demanding a wider range of information, with a clear global trend towards mandatory sustainability reporting. Over the past two decades, expectations and requirements for sustainability reporting have been changing rapidly, alongside a growing awareness of the impact of environmental and social issues. Responses to the proposed IFRS Sustainability Disclosure Standards.Resources to help you navigate the changing reporting landscape.Current insights into sustainability reporting.
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