Louisville’s economic momentum continues; LMG announced a total of over $2 billion in projects in 2022 alone

December 27, 2022

Louisville’s economic momentum remained strong in 2022 with Louisville Metro Government’s Economic Development team locating 51 projects that represent $2.09 billion in new investment and 3,696 new jobs.

“Thanks to the incredible work of our city’s Economic Development team in 2022, our city continues to experience tremendous economic momentum despite the challenges of the COVID-19 pandemic, rising inflation and other economic pressures,” said Mayor Greg Fischer. “The projects located this year will grow our economy for years to come by strengthening our core industries, as well as our hospitality and tourism sector, and by creating family-supporting-wage jobs for our residents.”

The jobs created by projects located in 2022 will pay an average wage of $61,910, and include:

  • Ford’s $700 million expansion of its Kentucky Truck Plant, adding 500 new jobs;
  • Expansion of UPS’ training center and addition of a 1-million-square-foot healthcare logistics facility and a new 275,000-square-foot hangar, totaling $453 million in investment and 315 new jobs;
  • UofL Health’s $144 million expansion and upgrade to UofL Hospital in downtown Louisville;
  • A new headquarters in downtown for Inxeption, an industrial commerce and supply chain digitization company that plans to create 200 jobs and invest $125 million in the city over the next five years;
  • Expansion of healthcare company Confluent Health’s headquarters, totaling $15.4 million in investment and 350 new jobs;
  • And River City Entertainment Group’s planned $65 million renovation of the historic Louisville Gardens, creating 50 new jobs.

“The best thing about Louisville is the city itself. It’s a great place to live; it’s a great place to work. Louisville is a great place to do business, and you’ll get support from the local community and the city’s Economic Development team, as well as the state Economic Development Cabinet. As a healthcare company, also having other health and aging innovation companies in town allows for cross-pollination, mentoring and innovation,” said Dr. Larry Benz, president and CEO of Confluent Health.

The Mayor highlighted the city’s ongoing economic success today during a media event to celebrate the Dream Hotel development along historic West Main Street. The $100 million, 160-room hotel will feature six food and beverage outlets, a rooftop event space and meeting space, and a public courtyard and art space.

“The Dream Hotel development reflects the significant economic momentum we’ve experienced over the last decade that has changed our downtown skyline, brought millions of visitors to our city and created a new vibrancy in the heart of Louisville,” Mayor Fischer said. “Throughout my administration, we have continued to dream big, even during uncertain times, which has resulted in tremendous economic momentum.”

Since 2014, the city’s Economic Development team within Louisville Forward has located projects totaling more than $10.7 billion of investment and 38,424 new jobs, and for eight straight years, Louisville Forward received the Mac Conway Award recognizing it as a Top Economic Development Organization in the United States.

“I am proud of the work that our team has done to further equitable economic growth in our great city this year, and we are excited to bring this momentum into 2023,” said Benjamin Moore, Director of the Department of Economic Development. “These investments highlight the fantastic opportunities that Louisville offers new and existing companies to establish, grow and thrive here by providing them world-class service, whether that is working with them to find the right property, connecting them to incentives or finding solutions to their workforce challenges.”

Louisville continues to rank as a top place to live and work, receiving numerous accolades and recognitions:

  • Recognized as a "Next 25" Tech Talent Market by CBRE for the fourth year in a row
  • Ranked 11th most affordable large metro areas in the nation
  • Recertified as a Welcoming City by Welcoming America
  • Received a perfect score on the Human Rights Commission’s Municipality Index for eight years in a row
  • Ranked number one in the Ohio River corridor for economic development
  • Ranked No. 14 on list of best cities for new college grads
  • Rated the overall best city for coffee in the U.S.
  • Ranked No. 3 out of all U.S. metros in Q1 2022 for worker confidence

2022 Year in Review graphic

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