The Fletcher administration has been criticized recently for taking international economic development trips to meet with government dignitaries and foreign company CEOs. One of the missions of the Cabinet for Economic Development is to attract new companies to the Commonwealth to generate new direct investment and new jobs for Kentuckians. Foreign investment is a significant factor in maintaining and increasing Kentucky's economic development success.
The state has achieved a proven track record in attracting foreign investment over the past three decades. Currently home to 342 foreign-owned facilities employing more than 70,000 Kentuckians, our success is largely due to the support shown by Governor Fletcher, as well as, the six governors preceding him who recognized the importance of building personal relationships with companies both domestically and internationally.
Each time a company begins the search for a new location or evaluates an existing site for a possible expansion, we are in direct competition with other states for that company's investment. A visit from the highest ranking official in the state (the state's CEO) opens doors to development opportunities that would otherwise have been unobtainable and generates a significant positive impact on the company's decision.