Military Spending Helps Kentucky Weather Recession
The Kentucky Chamber of Commerce has released a study that says the state is continuing a slow climb out of economic recession.
A driving factor behind some of the largest wage and salary increases in Kentucky is federal military spending.
Between 2007 and 2012, three Kentucky counties — Hardin, Christian and Madison — saw wages increase by nearly double the state average.
Chamber president Dave Adkisson says that’s a direct result of federal spending on military bases in and around those areas.
“Those three areas, because of federal spending and frankly because of the wars in Afghanistan, have done relatively well in terms of federal spending into those economies.”
Adkisson says the housing market in Kentucky is continuing to stabilize, and he is optimistic that the state’s modest growth will continue next year.