Louisville reports $663 million in expansion, attraction projects in first half of 2023
With $663 million in projects announced in the first six months of 2023, Louisville is currently outpacing the tremendous economic momentum it experienced in 2022. Last year, the Louisville Metro Department of Economic Development team located 51 projects, representing $2.09 billion in new investment and 3,696 new jobs.
“From our top-notch workforce and our competitive cost of doing business to our position as a city poised for rapid growth, these investment numbers show that companies are clearly seeing the benefits of investing in Louisville,” said Mayor Craig Greenberg. “As an entrepreneur, I know what it takes for businesses to succeed and how city government can help companies grow. That is why my administration is taking steps to create broader economic opportunity in Louisville and make our city an even easier place for businesses to invest, relocate and expand.”
The 34 projects located in the first half of 2023 will add 1,042 new jobs to the local economy. Located projects include the following:
- Congo Brands, the creator of beverages Prime and Alani Nu, is investing $8.25 million to expand its headquarters and create 500 new jobs.
- WILA USA, an industry-leading producer of tooling systems for sheet metals, is relocating its North American headquarters and establishing manufacturing operations, a $11.5 million investment.
- Label company Multi-Color Corp. is investing nearly $23 million to expand its operations in a new Louisville facility, creating 90 new jobs.
- Kelvin Cooperage, a barrel supplier for distilleries, is expanding its operations with an $11.8 million investment and 30 new jobs.
- UniFirst Corp., one of North America’s largest uniform and textile service companies, is relocating and growing its Louisville location to meet growing demand. The project represents a nearly $21.3 million investment.
“The strength of our core industries – advanced manufacturing, health and aging innovation, food and beverage, logistics and business services – allows us to grow existing operations and attract new businesses looking to benefit from our specialized talent pools and well-established industry ecosystems,” said Benjamin Moore, director of the Louisville Metro Department of Economic Development. “We are excited to build upon the success of 2022 and look forward to another great year of increased economic opportunity in our city.”
National organizations and publications are recognizing Louisville as a city on the rise. In March 2024, a top consultant and best practices conference, Area Development's Consultants Forum Workshop, will bring leading economic development professionals, site consultants and corporate real estate advisors from across the U.S. to downtown Louisville. In addition, the city has received numerous accolades and rankings as a top place to live and work:
- No. 4 Most Beautiful and Affordable Place to Live in the U.S. – Travel + Leisure Magazine
- A Top Logistics Hub for 2023 – Business Facilities
- No. 4 City in the U.S. for Job Growth in 2022 – Gusto Inc.
- No. 9 Foodie City in the U.S. – Travel + Leisure Magazine
- A "Next 25" Tech Talent Market for four years in a row – CBRE
- Recertified as a Welcoming City by Welcoming America in 2022
- Perfect score on the Human Rights Commission’s Municipality Index for eight years in a row
About the Department of Economic Development
Since 2014, the Louisville Metro Department of Economic Development has competed for and won projects, representing nearly $11.4 billion of investment and more than 39,250 new jobs. As a result, it has been named a Top Ten Economic Development Organization eight times by Site Selection Magazine, the leading trade publication for economic development, and was named a Top 5 U.S. Metro for Economic Development in 2022. The Department of Economic Development works in concert with the city’s real estate development and land use planning staff to offer concierge service to companies looking to grow their business or locate new operations, while convening regional partnerships to attract new talent to our city.