Economic development gains in 2014 place Kentucky first among states.
A ceremony at the Capitol Tuesday recognized the commonwealth's first place designation in Site Selection Magazine's annual Governor's Cup rankings. The top spot reflects new and expanded industry activity per capita over the last year.
Economic Development Cabinet Secretary Larry Hayes says the many negative stigmas about Kentucky are being put to rest.
"I think at times, I think we want to feel badly about ourselves or we believe some of the particular stereotypes that people used to have," commented Hayes. "The truth of the matter is Kentucky is doing business globally very successfully."
Magazine Editor Mark Arend says the ranking proves Kentucky has the ability to attract capital investment projects on a national scale.
Last year, the state announced more than 350 new location and expansion projects.