Louisville, Ky. (December 9, 2024) – Greater Louisville Inc. (GLI) released its quarterly Economic Summary report which revealed strong results through the third quarter of 2024. The regional project pipeline remains steady and nine projects have landed year to date, representing over $29 million in capital investment.

GLI’s Economic Summary is released each quarter and highlights regional and national economic trends, along with updates on GLI’s regional economic development pipeline. At the end of the third quarter, GLI’s regional project pipeline included 67 active projects representing at least 6,100 potential new jobs and $2.9 billion in potential investment for the region. This is a conservative estimate, as many companies disclose the investment and job numbers late in the process. Among these projects, 41 are attraction projects and 26 are expansion projects.

“Our economic development prospects continue to grow and are truly a testament to the competitive advantages our region offers,” said Sarah Davasher-Wisdom, president and CEO of GLI. “This year our team has intentionally focused on diversifying our project pipeline by adding more business services prospects that can fill vacant office space. I am looking forward to seeing those efforts pay off in the year ahead.”

Key takeaways from the report include:

• The Bureau of Labor Statistics reported that the unemployment rate for the Louisville MSA was 4.3% in September, slightly down from 4.4% in the second quarter of 2024 and equal to the rate in the first quarter of 2024. The Louisville MSA continues to stay in alignment with national unemployment trends.
• In September, the national economy added 254,000 jobs, surpassing the past year’s average of 203,000 jobs per month and well above the anticipated 150,000.
• At the end of August, there were just over 8 million job openings, an increase of 329,000 from July.
• While the labor market has loosened slightly, it remains strong. Businesses continue to add workers and employees remain confident in their ability to leave current jobs and find better opportunities.

The report also includes a recap of GLI’s annual Familiarization (“FAM”) Tour where nine national site selectors went on an immersive tour of the region and learned about the assets that could benefit their current and future clients, as well as a recap of GLI’s final  Regional Economic Development Update of 2024, which featured a discussion on the U.S. economy and monetary policy with the Federal Reserve Bank of St. Louis.

To view the full report, click here.

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About Greater Louisville Inc.

Greater Louisville Inc. is the Metro Chamber of Commerce and represents 15 counties in Kentucky and Indiana. GLI’s mission is to grow businesses and the regional economy. GLI supports businesses during every stage of development and represents the collective needs of the business community by advocating for pro-growth policies and economic development investment, and deploying programming centered around attracting and developing talent and economic inclusion. GLI is the 2019 National Chamber of the Year and is one of only three percent of chambers nationally certified with 5-star accreditation status by the U.S. Chamber of Commerce. Learn more on social media @GLIchamber or visit www.greaterlouisville.com.