January 2025
The Louisville, Kentucky market is seeing robust economic growth fueled by business expansions, new development initiatives, and growing national recognition.
2024 boasts Louisville’s highest job creation numbers since 2017.
What This Means For You: In 2024, Louisville located 35 projects, with companies committing to add 4,571 new jobs and to invest $653 million to expand or open new locations.
Midea America, a global leader in home appliances, broke ground on an expansion project in Louisville.
What This Means For You: The company plans to quadruple the size of its space, increasing its presence in Louisville by 400%. Midea said it will add about 110 new jobs over the next few years.
$250M development proposed next to Slugger Field.
What This Means For You: The Louisville Sports Entertainment District would be a 500,000-square-foot mix of housing, retail, hospitality, and entertainment atop of what now is a city-owned parking lot east of the baseball stadium. The plan includes the creation of two parking garages, one for the minor-league Louisville Bats and one for a 225-unit apartment complex. A 170-room boutique hotel is also in the proposal, along with retail, a renovated entrance to Slugger Field, office and meeting spaces.
Zyyo closes deals to buy land for 27-story Downtown tower.
What This Means For You: The more than $4M project, called One Forty West, will feature a 300-room hotel. A tower of this magnitude would mark the largest downtown development since pre-pandemic.
Louisville’s airport announces $45 million security checkpoint expansion.
What This Means For You: The project will include the construction of a 30,000 square foot addition to the terminal’s west side. It will feature up to 10 screening lanes, state-of-the-art equipment, and a breach control exit lane. Louisville’s Muhammad Ali airport is the fastest growing airport in America.
ISCO Industries Inc., a global provider of piping materials, will expand its footprint in Louisville with a $12.75 million investment.
What This Means For You: The expansion will create 50 full-time jobs for Kentuckians. Work on the project is expected to begin June 2025 and be completed by June 2026.
Kentucky ranks among top 10 states for year-over-year pay growth.
What This Means For You: The commonwealth is tied for No. 9 on the list, with a median annual salary of $54,400 for workers who’ve stayed in their role for the past 12 months.
Kentucky ranked 25th in U.S. growth, U-Haul data shows.
What This Means For You: The Bluegrass State rises four spots from its 2023 ranking and registers as a top 25 growth state for the first time since 2020. U-Haul customers coming to Kentucky accounted for 50% of all one-way traffic in and out of the state last year.
Whelan Machine & Tool, a veteran- and family-owned precision-machine product and services business, is investing nearly $5.7 million to expand its Louisville operations.
What This Means For You: The project will create 30 new jobs for the area paying an average of at least $31.89 per hour over the course of ten years.
The Canadian company, ArcWear, opens $5M Louisville facility
What This Means For You: The new 30,000-square-foot laboratory and testing facility is expected to hire as many as 20 employees over the next two years.
