Editing Kentucky (section)

==Economy==
{{Update|part=section|date=April 2025}}{{See also|Economy of Louisville, Kentucky|Economy of Lexington, Kentucky|Kentucky locations by per capita income}}
[[File:2012 Toyota Camry SE -- 02-29-2012.JPG|thumb|The best selling car in the United States, the [[Toyota Camry]], is manufactured in [[Georgetown, Kentucky]].]]

Early in its history, Kentucky gained recognition for its excellent farming conditions. It was the site of the first commercial [[winery]] in the United States (started in present-day [[Jessamine County, Kentucky|Jessamine County]] in 1799) and due to the high calcium content of the soil in the Bluegrass region quickly became a major horse breeding (and later racing) area.{{Cn|date=April 2025}}

In 2006, Kentucky ranked 5th nationally in goat farming, 8th in [[beef cattle]] production,<ref>{{cite web| url = http://www.bamabeef.org/NewStateandCountyrankings05.htm| archive-url = https://web.archive.org/web/20060504170140/http://www.bamabeef.org/NewStateandCountyrankings05.htm| archive-date = May 4, 2006| title = 2007 Rankings of States and Counties
| access-date = May 1, 2007| publisher = bamabeef.org}}</ref> and 14th in corn production.<ref name="econedlink2007" /> Kentucky has been a long-standing major center of the tobacco industry{{snd}}both as a center of business and tobacco farming.{{Cn|date=April 2025}}

Kentucky's economy has expanded to in non-agricultural terms as well, especially auto manufacturing, energy fuel production, and medical facilities.<ref name="Hunt 2019 9–14"/>

Kentucky ranked 4th among U.S. states in the number of automobiles and trucks assembled in 2003.<ref name="Tradeandindustrydev.com"/> 

[[File:Ford F-150 XL SuperCrew -- 03-10-2010.jpg|thumb|left|The best selling truck in the United States, the [[Ford F-Series]], is manufactured in [[Louisville, Kentucky]].]]
Kentucky has historically been a major coal producer, but the industry has been in decline since the 1980s, and the number employed dropped by more than half between 2011 and 2015.<ref name="YearInKyBusiness" />

{{as of|2010}}, 24% of electricity produced in the U.S. depended on either enriched uranium rods coming from the [[Paducah Gaseous Diffusion Plant]] (the only domestic site of low-grade uranium enrichment),{{Update inline|date=May 2021|reason=closed in 2013}} or from the 107,000 tons of coal extracted from the state's two coal fields (which combined produce 4% percent of the electricity in the US).<ref>{{cite web |url=http://geology.utah.gov/emp/energydata/statistics/coal2.0/pdf/T2.7.pdf |title= U.S. Coal Production by State, 1994–2009 |website=Utah Geological Survey |access-date=December 7, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20101103115412/http://geology.utah.gov/emp/energydata/statistics/coal2.0/pdf/T2.7.pdf |archive-date=November 3, 2010 }}</ref>

Kentucky produces 95% of the world's supply of [[bourbon whiskey]], and the number of barrels of bourbon being aged in Kentucky (more than 5.7{{spaces}}million) exceeds the state's population.<ref name="YearInKyBusiness">{{cite news |first=Tom |last=Eblin |url=http://www.kentucky.com/news/local/news-columns-blogs/tom-eblen/article51795000.html |title=Year in Kentucky business saw Toyota expand, bourbon boom, coal decline |newspaper=[[Lexington Herald-Leader]] |date=December 27, 2015 |access-date=January 3, 2016 |archive-date=December 31, 2015 |archive-url=https://web.archive.org/web/20151231033339/http://www.kentucky.com/news/local/news-columns-blogs/tom-eblen/article51795000.html |url-status=live }}</ref><ref name="APBourbon">{{Cite web |date=February 3, 2015 |title=Bourbon, Tennessee whiskey sales soar in U.S.; exports top $1B |url=https://www.seattletimes.com/business/bourbon-tennessee-whiskey-sales-soar-in-us-exports-top-1b/ |agency=Associated Press |first1=Bruce |last1=Schreiner |website=The Seattle Times |language=en-US |url-status=live |archive-url= https://web.archive.org/web/20230522200347/https://www.seattletimes.com/business/bourbon-tennessee-whiskey-sales-soar-in-us-exports-top-1b/ |archive-date= May 22, 2023 }}</ref> Bourbon has been a growing market{{snd}}with production of Kentucky bourbon rising 170 percent between 1999 and 2015.<ref name="YearInKyBusiness" /> In 2019 the state had more than fifty distilleries for bourbon production.<ref>{{cite news|url=https://www.columbusmonthly.com/entertainmentlife/20190319/best-driving-vacations-kentucky-bourbon-trail?template=ampart|title=Best Driving Vacations: Kentucky Bourbon Trail|date=March 19, 2019 |website=Columbus Monthly |first1=Sara |last1=Havens |url-status=dead |archive-url= https://web.archive.org/web/20210428220903/https://www.columbusmonthly.com/entertainmentlife/20190319/best-driving-vacations-kentucky-bourbon-trail?template=ampart |archive-date= April 28, 2021 }}</ref>

Kentucky exports reached $22.1{{spaces}}billion in 2012, with products and services going to 199 countries.<ref>{{cite web|last=Snchez |first=Francisco J. |url=http://www.kentucky.com/2013/03/15/2558257/ky-one-of-fastest-growing-states.html |title=Ky. one of fastest-growing states in exporting products &#124; Op-Ed |publisher=Lexington Herald Leader |date=March 15, 2013 |access-date=July 10, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20160308122022/http://www.kentucky.com/opinion/op-ed/article44410905.html |archive-date= March 8, 2016 }}</ref>

[[Fort Knox]], a [[United States Army]] post best known as the site of the [[United States Bullion Depository]], which is used to house a large portion of the United States official [[gold reserves]], is located in Kentucky between Louisville and [[Elizabethtown, Kentucky|Elizabethtown]]. In May 2010, the [[United States Army Human Resources Command|Army Human Resource Center of Excellence]], the largest office building in the state at nearly {{convert|900000|sqft}} opened at Fort Knox. The complex employs nearly 4,300 soldiers and civilians.<ref>{{cite news |website=Louisville Business First |url=http://www.bizjournals.com/louisville/stories/2010/05/24/daily42.html |title=Human resource center opens at Fort Knox |date=May 27, 2010 |access-date=November 28, 2012 |archive-date=October 10, 2012 |archive-url=https://web.archive.org/web/20121010163955/http://www.bizjournals.com/louisville/stories/2010/05/24/daily42.html |url-status=live }}</ref>

Kentucky contains two of the twenty [[List of U.S. federal prisons|U.S. Federal Penitentiaries]]: [[USP Big Sandy]] (in the east in [[Martin County, Kentucky|Martin County]] near [[Inez, Kentucky|Inez]]) and [[USP McCreary]] (in the south in [[McCreary County, Kentucky|McCreary County]] in the [[Daniel Boone National Forest]]).{{Citation needed|date=April 2025}}

The total gross state product for 2020 was $213{{spaces}}billion.<ref>{{cite web |url=https://fred.stlouisfed.org/series/KYNGSP |title=Gross Domestic Product: All Industry Total in Kentucky (KYNGSP) |publisher=FRED &#124; St. Louis Fed |date= |accessdate=January 27, 2022 |archive-date=January 20, 2022 |archive-url=https://web.archive.org/web/20220120223427/https://fred.stlouisfed.org/series/KYNGSP |url-status=live }}</ref> In 2023, the per capita personal income in Kentucky was 55,360 U.S. dollars.<ref>{{Cite web |title=Per capita income Kentucky U.S. 2023 |url=https://www.statista.com/statistics/205414/per-capita-personal-income-in-kentucky/ |access-date=2025-04-28 |website=Statista |language=en}}</ref> As of March 2024, the state's unemployment rate is 4.5%.<ref>{{cite web |url=https://kystats.ky.gov/KYLMI/PressRelease/b6324192-88d1-431f-ad51-89d98bfc766f |title=Kentucky Education and Labor Cabinet Releases March 2024 Unemployment Report |date=April 18, 2024 |website=Kentucky Center for Statistics |access-date=April 30, 2024 |url-status=live |archive-url=https://web.archive.org/web/20240430193723/https://kystats.ky.gov/KYLMI/PressRelease/b6324192-88d1-431f-ad51-89d98bfc766f |archive-date=April 30, 2024}}</ref> 

===Taxation===
Tax is collected by the Kentucky Department of Revenue.<ref>{{cite web|url=https://revenue.ky.gov/Pages/index.aspx|title=Welcome – Department of Revenue|website=revenue.ky.gov|access-date=January 3, 2020|archive-date=February 2, 2021|archive-url=https://web.archive.org/web/20210202163714/https://revenue.ky.gov/Pages/index.aspx|url-status=live}}</ref> Kentucky has a flat 4% individual [[income tax]] rate. The sales tax rate in Kentucky is 6%.<ref>{{cite web|url=http://revenue.ky.gov/business/salesanduse.htm
 |title=Sales & Use Tax
 |access-date=May 1, 2007
|publisher=Kentucky Department of Revenue
 |url-status=dead
 |archive-url=https://web.archive.org/web/20070420210040/http://www.revenue.ky.gov/business/salesanduse.htm
 |archive-date=April 20, 2007
}}</ref>

Kentucky has a broadly based classified [[property tax]] system. All classes of property, unless exempted by the Constitution, are taxed by the state, although at widely varying rates.<ref>{{cite web| url = http://revenue.ky.gov/business/proptax.htm| title = Property Tax| access-date = May 1, 2007| publisher = Kentucky Department of Revenue| archive-url = https://web.archive.org/web/20070403180310/http://revenue.ky.gov/business/proptax.htm| archive-date = April 3, 2007}}</ref> Many of these classes are exempted from taxation by local government. Of the classes that are subject to local taxation, three have special rates set by the [[Kentucky General Assembly|General Assembly]], one by the [[Kentucky Supreme Court]] and the remaining classes are subject to the full local rate, which includes the tax rate set by the local taxing bodies plus all voted levies. Real property is assessed on 100% of the fair market value and property taxes are due by December 31. Once the primary source of state and local government revenue, property taxes now account for only about 6% of the Kentucky's annual General Fund revenues.<ref>{{cite web |url=http://www.bankrate.com/yho/itax/edit/state/profiles/state_tax_Ky.asp |title=State Taxes – Kentucky – Overview |access-date=May 1, 2007 |publisher=bankrate.com |archive-url=https://web.archive.org/web/20070408040707/http://www.bankrate.com/yho/itax/edit/state/profiles/state_tax_Ky.asp |archive-date=April 8, 2007 |url-status=dead }}
</ref>

Until January 1, 2006, Kentucky imposed a tax on intangible personal property held by a taxpayer on January{{spaces}}1 of each year. The Kentucky intangible tax was repealed under House Bill 272.<ref>{{cite web| url = http://www.lrc.ky.gov/record/05rs/HB272.htm| title = Text of the House Bill 272| access-date = August 10, 2007| publisher = State of Kentucky| archive-date = August 11, 2007| archive-url = https://web.archive.org/web/20070811212831/http://www.lrc.ky.gov/record/05rs/hb272.htm| url-status = dead}}</ref> Intangible property consisted of any property or investment that represents evidence of value or the right to value. Some types of intangible property included: bonds, notes, retail [[repurchase agreement]]s, accounts receivable, trusts, enforceable contracts sale of real estate (land contracts), money in hand, money in [[safe deposit box]]es, annuities, interests in estates, loans to stockholders, and commercial paper.

In 2023, Kentucky launched a regulated local and online sports betting industry. Taxing sportsbooks at 9.75% (in person) and 14.25% (online), the first two months of action saw the state collect $7.94 million.<ref>{{Cite web |title=Rules in place, Kentucky sports betting will start in September |url=https://www.courier-journal.com/story/news/2023/07/10/kentucky-sports-betting-rules-regulations-approved-andy-beshear/70392840007/ |access-date=December 11, 2023 |website=The Courier-Journal |language=en-US |archive-date=April 1, 2024 |archive-url=https://web.archive.org/web/20240401192236/https://www.courier-journal.com/story/news/2023/07/10/kentucky-sports-betting-rules-regulations-approved-andy-beshear/70392840007/ |url-status=live }}</ref>

===Tourism===

{{See also|Kentucky Bourbon Trail}}
[[File:Ark Encounter 006.jpg|thumb|right|The [[Ark Encounter]] in [[Williamstown, KY]]]]

Tourism has become an increasingly important part of the Kentucky economy. In 2019 tourism grew to $7.6{{spaces}}billion in economic impact. Key attractions include [[horse racing]] with events like [[the Kentucky Derby]] and the [[Keeneland]] Fall and Spring Meets, [[Kentucky Bourbon Trail|bourbon]] distillery tours, including along the [[Kentucky Bourbon Trail]] and Louisville Urban Bourbon Trail,<ref>{{Cite web |title=Louisville, KY's Urban Bourbon Trail (UBT) |url=https://www.bourboncountry.com/things-to-do/urban-bourbon-trail/ |url-status=live |archive-url=https://web.archive.org/web/20150219050143/http://www.bourboncountry.com/things-to-do/urban-bourbon-trail/index.aspx |archive-date=February 19, 2015 |access-date=July 2, 2022 |website=BourbonCounty.com}}</ref> and natural attractions such as the state's many lakes and parks to include [[Mammoth Cave]], [[Lake Cumberland State Resort Park|Lake Cumberland]] and [[Red River Gorge]].<ref>{{Cite web|url=https://www.lanereport.com/116031/2019/08/kentucky-tourism-announces-increased-visitor-growth-and-spending-in-2018/|title=Kentucky Tourism says visitor spending rose to $7.6 billion in 2018|date=August 14, 2019|access-date=August 26, 2020|archive-date=September 14, 2019|archive-url=https://web.archive.org/web/20190914053739/https://www.lanereport.com/116031/2019/08/kentucky-tourism-announces-increased-visitor-growth-and-spending-in-2018/|url-status=live}}</ref>

The state also has several religious destinations such as the [[Creation Museum]] and [[Ark Encounter]] of [[Answers in Genesis]].<ref>{{cite web |title=Itinerary: Northern Kentucky Biblical Wonders |url=https://www.kentuckytourism.com/culture/spirituality/spiritual-itineraries/northern-kentucky-biblical-wonders |access-date=September 20, 2020 |archive-date=September 18, 2020 |archive-url=https://web.archive.org/web/20200918144205/https://www.kentuckytourism.com/culture/spirituality/spiritual-itineraries/northern-kentucky-biblical-wonders |url-status=live }}</ref><ref>{{cite web|title=Answers in Genesis|url=https://answersingenesis.org/|access-date=September 20, 2020|archive-date=February 20, 2021|archive-url=https://web.archive.org/web/20210220152012/https://answersingenesis.org/|url-status=live}}</ref>

In December 2002, the Kentucky governor [[Paul E. Patton]] unveiled the state slogan "It's that friendly",<ref name="nbcnews.com">{{cite web |url=https://www.nbcnews.com/id/wbna8598104 |title=Kentucky frowns on smiley license plates |publisher=NBC News |date=July 16, 2005 |access-date=July 10, 2013 |archive-date=February 18, 2015 |archive-url=https://web.archive.org/web/20150218183645/http://www.nbcnews.com/id/8598104/ns/us_news-weird_news/t/kentucky-frowns-smiley-license-plates/#.UXW--KJwiIQ |url-status=live }}</ref> in the hope of drawing more people into the state based on the idea of [[southern hospitality]]. Though it was meant to embrace southern values, many Kentuckians rejected the slogan as cheesy and generic.<ref name="nbcnews.com" /> It was seen that the slogan did not encourage tourism as much as initially hoped for. 

In 2004, then Governor [[Ernie Fletcher]] launched a comprehensive [[brand]]ing campaign with the hope of making the state's $12–14{{spaces}}million advertising budget more effective.<ref>{{cite web|title = Branding campaign puts Kentucky in step with national trend – Louisville – Louisville Business First|url = http://www.bizjournals.com/louisville/stories/2004/12/06/story3.html|website = Louisville Business First|access-date = November 27, 2015|archive-date = January 1, 2016|archive-url = https://web.archive.org/web/20160101052615/http://www.bizjournals.com/louisville/stories/2004/12/06/story3.html|url-status = live}}</ref> The resulting "Unbridled Spirit" brand was the result of a $500,000 contract with New West, a Kentucky-based public relations advertising and marketing firm, to develop a viable brand and tag line.<ref>{{cite news | url=https://www.nytimes.com/2004/12/02/business/02addes.html?_r=0 | work=The New York Times | title='Unbridled Spirit' Wins Kentucky Slogan Vote | date=December 2, 2004 | access-date=February 19, 2017 | archive-date=February 18, 2015 | archive-url=https://web.archive.org/web/20150218191446/http://www.nytimes.com/2004/12/02/business/02addes.html?_r=0 | url-status=live }}</ref> The Fletcher administration aggressively marketed the brand in both the public and private sectors. Since that time, the "Welcome to Kentucky" signs at border areas have an "Unbridled Spirit" symbol on them.

====Horse industry====

{{See also|Horse racing in the United States}}
[[File:KL Spring Running.jpg|thumb|Spring running of [[Keeneland]] in Lexington]]

Horse Racing has long been associated with Kentucky. [[Churchill Downs]], the home of the Derby, is a large venue with a capacity exceeding 165,000.<ref>{{cite web |url=http://www.bloodhorse.com/horse-racing/articles/211485/second-highest-derby-attendance-handle |title=Second-Highest Derby Attendance, Handle |website=bloodhorse.com |date=May 7, 2016 |access-date=August 9, 2021 |archive-date=June 24, 2021 |archive-url=https://web.archive.org/web/20210624144615/https://www.bloodhorse.com/horse-racing/articles/211485/second-highest-derby-attendance-handle |url-status=live }}</ref> The track hosts multiple events throughout the year and is a significant draw to the city of Louisville. [[Keeneland Race Course]], in Lexington, hosts two major meets, the Spring and Fall running. Beyond hosting races Keeneland also hosts a significant horse auction drawing buyers from around the world. In 2019 $360{{spaces}}million was spent on the September Yearling sale.<ref>{{cite web|url=https://www.businessinsider.com/worlds-biggest-horse-sale-keeneland-kentucky-photos-2019-10|title=What it's like going to the 'Super Bowl of horse sales,' where royals and millionaires bid on horses they hope might be the next Kentucky Derby winner|first=Katie|last=Warren|website=Business Insider|access-date=August 27, 2020|archive-date=September 10, 2020|archive-url=https://web.archive.org/web/20200910093425/https://www.businessinsider.com/worlds-biggest-horse-sale-keeneland-kentucky-photos-2019-10|url-status=live}}</ref> The [[Kentucky Horse Park]] in [[Georgetown, Kentucky|Georgetown]] hosts multiple events throughout the year, including international equestrian competitions and also offers horseback riding from April to October.<ref>{{cite web|url=https://kyhorsepark.com/|title=Home|website=Kentucky Horse Park|access-date=August 27, 2020|archive-date=February 11, 2021|archive-url=https://web.archive.org/web/20210211005859/https://kyhorsepark.com/|url-status=live}}</ref>