Kentucky’s global impact is growing to record-breaking numbers. Last year, the state’s exports were valued at $40.2 billion — an all-time high and a 16.6% increase from 2022.
Don’t think the state plans on slowing down. Governor Andy Beshear announced an additional $400,000 in STEP (State Trade Expansion Program) funding. This effort is backed by the US Small Business Administration to help local businesses enter the global market, therefore creating more jobs. Local companies can apply to receive grants up to $15,000 to support the state’s export initiative.
Which industries led Kentucky’s exports? These were the top contributors in the state, with plenty of support from Lexington:
- Aerospace products — $13.3 billion
- Pharmaceuticals — $3.8 billion
- Motor vehicles — $3.7 billion
Canada, the United Kingdom, and Mexico are the top three recipients of exports from Kentucky.
