What’s Happening: Governor Andy Beshear announced that Rivian, an electric vehicle (EV) manufacturer, plans to invest $10 million to establish a remanufacturing facility in Bullitt County, Kentucky, creating 218 full-time jobs.
Why It Matters: This investment signifies continued momentum in Kentucky’s manufacturing and EV industries, further establishing the state as a leader within the burgeoning EV sector.
Key Points:
- The facility will be located in Shepherdsville, where Rivian already stocks replacement parts in a 326,000-square-foot building.
- The remanufacturing facility will support the warranty, repair, and service footprint of Rivian’s EV trucks.
- Rivian’s investment contributes to Kentucky’s over $10.6 billion in EV-related investments and 10,000 full-time jobs since June 2020.
- The Kentucky Economic Development Finance Authority preliminarily approved a 10-year incentive agreement with Rivian under the Kentucky Business Investment program.
Bottom Line: Rivian’s $10 million investment in a remanufacturing facility in Kentucky highlights the state’s continued growth in the EV and manufacturing sectors. The new facility is expected to create 218 full-time jobs and contribute to the state’s economic recovery following the pandemic. Kentucky’s position as a leader in the EV industry has been recognized by various rating agencies and the Governor’s Cup ranking for 2022. The state’s financial outlook and robust job creation have resulted in record budget surpluses and a record rainy-day fund balance.
