Over the next two months, officials with the South Western Kentucky Economic Development Council will be honing goals for their next strategic plan, which will take effect in late 2025 and run through 2030.
During Monday’s meeting for the end of March, SWK EDC Executive Director Carter Hendricks listed out five expectations that have already been stenciled in for the next half decade that, if approved in June, will become the standard for the collective think-tank for Trigg, Christian and Todd counties.
They include:
+ The creation of 2,500 new jobs, either by new companies or existing expansion, by 2030, and the increase of regional manufacturing jobs to above 12,500.
+ The increase of entry-level manufacturing wages to go over $20/hour, as they currently sit above $18/hour.
+ The creation of $3 billion in new private capital investment, as well as the increase of regional manufacturing gross domestic product by 20%, either through new companies or existing expansion.
+ The recruitment of at least one new company for each target sector: automotive/EV, agriculture, aerospace, advanced manufacturing, chemical and logistics/distribution.
+ And the procurement of at least $20 million in grants for production development and land acquisition.
Hendricks said while the big “R-word,” or “recession,” gets tossed around in headlines right now, there needs to be a plan for promoting, and cultivating, the local economy.
This, he noted, is that rough draft.
Through a number of metrics provided by the Tennessee Valley Authority’s Equitable Community Initiative and Talent Accelerator Program, Hendricks affirmed that Cadiz, Hopkinsville and Elkton — as well as their surroundings — have seen marked growth since 2020, and naturally there is hope for that to continue.
In fact, in 2020, Hendricks said the SWK EDC had a goal of reaching 5,000 new jobs and more than $1 billion in new capital investment by 2025.
As of this past January, Hendricks said more than 2,700 jobs had been added, while 21 different announcements in six different job sectors accounted for more than $3 billion in working ventures.
Alan Gates, president & CEO of Pennyrile Electric, offered his thoughts on the five-point plan.
Also among top priorities for civilian leadership in the next five years, in order to assist with any set goals, includes the widening of I-24, which Christian and Trigg county’s Judge-Executives Jerry Gilliam and Stan Humphries said will get a good look through a first-quarter feasibility study in 2026.
In other SWK EDC news:
— As of January, unemployment rates were 6.4% in Christian County, 4.7% in Todd County, and 5.9% in Trigg County. Kentucky’s average unemployment rate was 5.3%, and the national average was 4%.
— The Pennyrile Industrial Managers Association will be meeting from 12-1 PM April 24 at the Christian County Extension Office, and its guest speaker will be Christian County Public Schools Superintendent Chris Bentzel, who will provide a construction update on the consolidation.
— Hendricks confirmed the SWK EDC would be taking part in two upcoming forums: first with the Tennessee Valley Authority April 10-11 in Nashville, and then the Kentucky Economic Forum scheduled for April 15-16 in Paducah.
— Two regional job fairs need to be on everyone’s radar: Jobs Fest 2025 and the Trigg County Chamber of Commerce’s Job Fair Career Expo.
The former is scheduled from 9 AM until 1 PM Thursday, April 24, at the Planters Bank-Jennie Stuart Health Sportsplex in Hopkinsville. It will focus on graduating seniors from Trigg, Christian and Todd counties, before opening to the general public from 11 AM until 1 PM.
The latter is planned for 12-6 PM Wednesday, April 30, at The Way Christian Youth Center in Cadiz. Trigg County youth will be attending during school hours before it, too, opens to the general public.
Both fairs are still taking employer registration through at least Friday, April 11.
— A trio of Rotary Auctions are on the horizon. Elkton’s begins April 7, Cadiz has theirs from April 14-18, and the Hopkinsville’s 75th will run April 21-26. Combined with the annual United Way of the Pennyrile campaign, Hendricks said more than $2 million in charitable giving and sales comes through those four efforts alone each year, and that’s a positive for companies inquiring about the region.
