FRANKFORT, Ky. (Jan. 31, 2023) – Today, Gov. Andy Beshear highlighted continued momentum of the state’s logistics and distribution sector as Whitehorse Freight LLC cut the ribbon on a new $5.4 million facility in Crestview Hills, creating over 400 quality jobs in the surrounding region.
“Kentucky’s unique location and access to resources makes the commonwealth one of the most important distribution and logistics hubs in the country,” said Gov. Beshear. “Continuing to grow and invest in that industry with quality companies such as Whitehorse Freight is critical to our long-term economic success. I want to congratulate Whitehorse on today’s ribbon-cutting and wish the company continued success here in the commonwealth.”
Whitehorse Freight located in a new facility in Kenton County in response to rapid growth and increased customer demand. The $5.4 million investment includes the purchase of an existing 51,000-square-foot building to increase the company’s operations and overall office space.
“The sky is the limit when it comes to earning potential at Whitehorse Freight,” said Michael Bilokonsky, president and CEO of Whitehorse Freight. “I am extremely proud of our team and what we are building. Today’s event is an exciting next step for us, and I look forward to continuing to grow here in Northern Kentucky.”
Whitehorse Freight is a logistics technology service company for the shipping and carrier trucking industry that specializes in moving full truckloads. The company’s extensive carrier network and creative freight services help increase flexibility and mitigate logistics obstacles. Services include dry freight, flatbed, refrigerated freight, specialty freight, straight truck and warehouse and fulfillment. The company is currently hiring motivated and energetic individuals who want to be a part of a growing team.
Whitehorse Freight’s investment adds to Kentucky’s growing distribution and logistics presence. Since the start of the Beshear administration, companies within the sector announced more than 7,500 full-time, Kentucky-resident jobs across 117 facility expansion and new-location projects with $2.2 billion in private-sector investment in the commonwealth.
BE NKY CEO Lee Crume said 78% of the 2,356 new jobs announced by BE NKY in 2022 were in the supply chain management and distribution/logistics industries.
“Whitehorse is certainly a major contributor to the expansion of these industries in Northern Kentucky,” said Crume. “We congratulate the company on the amazing growth they are experiencing.”
Kenton County Judge/Executive Kris Knochelmann thanked Whitehorse Freight for choosing to invest in Kenton County.
“It’s gratifying to have a local company further invest in the community,” said Judge Knochelmann. “We’re constantly pushing to make Kenton County the best place to live, work and raise a family, and it’s good to see our corporate citizens recognize that.”
Crestview Hills Mayor Paul Meier looks forward to the economic impact and quality jobs that this project will bring to the community.
“Crestview Hills is thrilled to welcome more than 400 new full-time jobs to the city’s Thomas More Office Park,” Mayor Meier said. “We’re excited to have a growing logistics company like Whitehorse Freight operate here.”
Whitehorse Freight’s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
Since the beginning of his administration, Gov. Beshear has announced the creation of more than 43,000 full-time jobs and 828 private-sector new-location and expansion projects totaling $24.5 billion in announced investments.
With the books closed on 2022, the Governor has now secured the best two-year period in state history for economic growth.
In 2021, the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years.
That momentum continued strongly into 2022 with 248 new-location and expansion announcements totaling 16,000 full-time jobs behind nearly $10.5 billion in new investment.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 was $26.78 before benefits, the second-highest mark since 2010 and an 11.5% increase over the previous year.
Gov. Beshear also announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April 2022, the Governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States.
Kentucky’s success has been noted by both S&P Global Ratings and Fitch Ratings, which have upgraded the state’s financial outlook to positive in recognition of the commonwealth’s surging economy. In addition, Site Selection magazine placed Kentucky at 6th in its annual Prosperity Cup rankings for 2022, which recognizes state-level economic success based on capital investments.
Gov. Beshear’s administration is projected to post the four highest years of budget surpluses in Kentucky history, and the state’s rainy day fund has a record balance of $2.7 billion.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in June 2022 preliminarily approved an incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide tax incentives based on the company’s investment and annual job and wage targets.
For more information on Whitehorse Freight, visit whfreight.com.
A detailed community profile for Kenton County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.
