The South Western Kentucky Economic Development Council (SWK EDC) has completed the 3rd annual regional wage and skill survey as a strategy of the “Getting Ready to Win” (GR2W) initiative.
The wage and skill survey is shared with regional industries and large employers to determine the current wage and benefit structure, as well as any skill gaps.
Continued Economic Growth
This year, 22 regional industries participated providing information and insight into the region’s manufacturing sector.
“We are thankful for the participating industries and pleased to see continued wage growth and job opportunities within our regional manufacturing community,” said SWK EDC Associate Director Tony Prim.
The SWK EDC is utilizing the survey information to provide greater direction to the region’s workforce and industry partners.
The goal is to ensure the region has competitive wages, benefits and provides educational and training opportunities to build the workforce of the future.
Survey Highlights Include:
- Regional manufacturing entry-level wages increased from $17.43/hour in 2022 to $17.93/hour in 2023.
- Welder wages continue to increase by over 10% to $21.73/hour regional average.
- Regional engineers can expect to make $80,000-$100,000+ annual salary on average. Overall, wages increased from 3%-5% on average.
Additionally, the region celebrated success in 2023 with the continued development of Ascend Elements at Commerce Park II, the groundbreaking of Toyota Boshoku’s newest facility, the continued expansion of Novelis, and an existing industry expansion at White Drive Products.
These four projects represent more than 850 new jobs that will be available in the coming months resulting in over $1.6B in continued private and public capital investment impacting the regional economy.
“We continue to see strong job and wage growth which means more opportunity for regional residents and businesses,” said Carter Hendricks, Executive Director, South Western Kentucky Economic Development Council. “With our recent success and untapped potential, the future appears very bright in South Western Kentucky.”
For more information on this release, the SWK EDC, the region, and available sites, please contact 270-885-1499 or visit www.southwesternky.com.
