FRANKFORT, Ky. — Site Selection magazine named Kentucky the No. 1 state in the South Central region for its newly released 2023 Prosperity Cup rankings, moving up two spots from last year’s third place position. Kentucky also placed in the top five nationally after ranking sixth in 2022.

The rankings recognize the competitiveness of state-level economic development agencies and their success in landing capital investment projects according to a 10-point index.

Kentucky Gov. Andy Beshear (D) highlighted the new ranking as part of what he said was Kentucky’s continued economic success.

“Our state’s strong placement in this and other recent rankings for economic growth showcase what we in Kentucky already know — the commonwealth is the best place to do business as we focus on building a future that works for all Kentuckians,” Beshear said.

In addition to Kentucky’s improved national and regional rankings, one company and three communities across the state were recognized for their growth and success over the past year.

AESC, formerly known as Envision AESC, placed in the top 20 of the Top Deals in North America list, which is determined on a points system driven by corporate investment and job creation. The company tied for 14th based on its commitment to invest $2 billion and create 2,000 full-time jobs at a new electric vehicle battery factory in Bowling Green.

The governor touted the strong rankings as a reflection of the strong economic momentum in the commonwealth as the state rebuilds its economy from the pandemic.