Monday, March 7, 2011
Bowling Green is a Top-Ranked Metro by Site Selection Magazine
BOWLING GREEN, KY-Site Selection Magazine's March 2011 issue has recognized Bowling Green for an impressive 2010 in economic development projects. Amongst metropolitan areas with populations under 200,000, the city was ranked as third in the nation for its number of industry expansions and locations in 2010. Bowling Green is the only Kentucky metropolitan area other than Cincinnati/Middletown (Ohio, Ky., Ind.) to be listed in the magazine's Top 10 metropolitan areas by number of projects this year.
Site Selection ranked Bowling Green as No. 3 in the nation for its 12 expansion and location projects in 2010, with the city following behind No. 1 Lake Charles, La. and No. 2 Altoona, Pa. This year's ranking is the highest to date that Bowling Green has received from the magazine, and this is the third time in four years that Bowling Green has been listed in Site Selection's Top 10 Metros by Number of Projects.
"Site Selection is one of the premier magazines for the economic development industry, and we're proud to see our city and region receive national recognition for economic development projects," explained Ron Bunch, CEcD, president and CEO of the Bowling Green Area Chamber of Commerce. "It's an honor to be ranked in the magazine once again, especially at such a high level, and we are eager to continue our work to market South Central Kentucky to the world."
Site Selection publisher Conway Data's yearly analyses are regarded as "the industry scoreboard" by corporate real estate analysts. The magazine's circulation base consists of 44,000 executives involved in corporate site selection decisions. To determine the rankings, Site Selection utilized Conway Data's database to track industry location and expansion projects on a state and metropolitan area level. Qualified projects include those that meet at least one of three criteria: (1) involve a capital investment of at least $1 million, (2) create 50 or more jobs, or (3) add at least 20,000 square feet of new floor space.
In 2010, the Chamber participated in 21 economic development projects, 15 of which were expansions. These projects announced 1,653 new and retained jobs and a capital investment of more than $241 million for South Central Kentucky, and they will create an additional $140 million in annual economic impact. These are the highest job and capital investment figures that the Chamber has experienced to date. Below is a list of the announced projects that the Chamber supported in 2010.
Integrated Pharmaceutical Company (Barren County) - $5.1 million capital investment, 100 new jobs
Certifed Flux Solutions (Butler County) - $863,000 capital investment, 12 new jobs
Renaissance Industries (Edmonson County) - $1 million capital investment, 15 new jobs
Kentucky Chrome Works LLC (Hart County) - $2.6 million capital investment, 80 new jobs
Medina Blankings (Shiloh Industries, Inc.) (Warren County) - $9.9 million capital investment, 60 new jobs
Pure Power Technologies (Warren County) - $884,440 capital investment, 10 new jobs
Amneal Pharmaceutical Company (Barren County) - $6.6 million capital investment, 48 new jobs
Corvac Composites LLC (Butler County) - $8.1 million capital investment, 75 new jobs
Gulfstar Energy (Butler County) - $5 million capital investment, 7 new jobs
Sister Schubert (Hart County) - $33.2 million capital investment, 65 new jobs
American Howa Kentucky (Warren County) - $11.5 million capital investment, 86 new jobs
Bando USA (Warren County) - $7 million capital investment, 15 new jobs
Country Oven Bakery (Warren County) - $10.6 million capital investment, 33 new jobs
Fruit of the Loom (Warren County) - $47 million capital investment, 600 new jobs
Magna Car Top Systems (Warren County) - $952,775, 30 new jobs
NASCO (Warren County) - $10 million, 206 retained jobs
Owl's Head Alloys Inc (Warren County) - $3 million capital investment, 30 new jobs
SCA Personal Care (Warren County) - $44.1 million capital investment, 65 new jobs
Sun Products Corporation (Warren County) - $23.9 million capital investment, 73 new jobs
Topura America Fastener (Warren County) - $9.3 million capital investment, 30 new jobs
Xhale Inc (Warren County) - $175,000 capital investment, 13 new jobs
As projects are completed, South Central Kentucky will see more residents, additional tax revenues, and increased sales because the impact of new manufacturing jobs carries through the region into all industries. For example, 100 manufacturing jobs in Warren County will create $15.96 million in economic impact for all industries, and that number continues to grow each year. One hundred new manufacturing jobs created in 2010 will have a 10-year cumulative impact of more than $196 million.
"It is great to once again be ranked in Site Selection for our many projects," said City of Bowling Green Mayor Joe Denning. "These rankings give our city national recognition and create top-of-mind awareness for professionals throughout the economic development industry."
Site Selection also recognized Glasgow (Barren County) as a top micropolitan area by number of projects. With three projects, Glasgow tied for 41st with cities in Georgia, Indiana, Ohio and Pennsylvania, among others.
"Rankings in Site Selection bring attention to the economic development progress being made by South Central Kentucky," said Warren County Judge Executive Michael Buchanon. "Because of our regional approach, we understand that a ranking for Bowling Green or for Glasgow is not limited to only those municipalities. Growth in one county equals growth for the entire region."
"Congratulations again to our economic development leaders in the region for their 2010 achievements," said 2011 Chamber Board of Directors Chairman Rodney Rogers. "It's an honor to be a part of a nationally recognized community like ours, and we look forward to continuing the tradition of delivering value to our current and expanding industries, as well as attracting new investments to the region."
The article and rankings can be viewed in their entirety at www.siteselection.com.