Community and business leaders gathered Thursday at the Owensboro Convention Center as the Greater Owensboro Economic Development Corporation outlined continued economic momentum, major project updates, and a forward-looking strategy centered on workforce, entrepreneurship, and smart growth.
Claude Bacon, president and CEO of GOEDC, reflected on the city’s transformation over the past two decades while emphasizing the importance of collaboration and intentional growth moving forward.
“When I arrived in Owensboro just over 20 years ago, I could never imagine standing here today leading the Greater Owensboro Economic Development Corporation,” Bacon said. “What I didn’t realize at the time was that I wasn’t just building a career. I was becoming part of a community that was transitioning into something much bigger.”
Bacon said Owensboro’s progress has been driven by alignment among leaders, business investment, and a willingness to create opportunities rather than wait for them.
“I’ve seen what happens when community and elected leaders align around a shared vision,” he said. “I’ve seen businesses and industry take risks that paid off.”
He pointed to a stronger, more confident community with a growing downtown, expanding retail corridors, and industries choosing to stay and grow locally.
“And I’ve seen this community decide that they weren’t going to wait for opportunity but they were going to create it,” Bacon said.
He said recent economic development wins have helped Owensboro earn dual top-10 rankings nationally for total projects and projects per capita. Bacon highlighted several major investments, including Swedish Match’s $232 million expansion, UniFirst’s $28 million expansion now complete, Mizkan’s planned $156 million project, and R+L Carriers’ $25 million transportation hub that opened in 2025.
Additional developments include Maui’s Indoor Theme Park, an $18 million project expected to open in the coming weeks, and continued activity at the MidAmerica Airpark, where officials are optimistic about landing multiple projects.
While some development prospects remain confidential, Bacon said the outlook remains strong.
“You know our business, so while our pipeline is confidential, we are confident the economic development future is bright,” he said.
Bacon also highlighted key sites positioned for future growth, including the Massie property — a 121-acre site acquired by the city in 2025 — which has received nearly $4 million in state funding support. He also pointed to the Owensboro Riverport Authority as a major asset, citing its multimodal connectivity and infrastructure investments.
Workforce development remains a central focus, with officials reporting increases in both labor force participation and average wages. Bacon said Daviess County added approximately 335 workers in 2025, with participation rates exceeding the state average.
Programs such as GO FAME, Elevate Owensboro, the Reentry Success Program, and the PACT initiative are helping connect employers with talent while expanding opportunities for diverse populations.
“We are continuing to see steady progress in average annual wages,” Bacon said. “At the same time, both population and labor force numbers are moving in the right direction.”
Small business growth and entrepreneurship were also emphasized, with local partnerships supporting startups and expansions through coaching, funding assistance, and mentorship programs. In 2025, five businesses received support through a city-backed subsidy program.
GOEDC is also advancing plans for “The Landing,” a proposed downtown entrepreneurship and coworking hub in the former Turley building. The project has secured $2.2 million in state funding and aims to serve as a central space for innovation and remote work.
Beyond GOEDC-led efforts, Bacon highlighted the broader economic impact of key sectors including manufacturing, agriculture, education, healthcare, and tourism.
He said manufacturing alone accounts for nearly one out of every four dollars produced locally, while agriculture continues to lead the state in grain production and livestock value.
Healthcare remains the region’s largest employment driver, with Owensboro Health generating nearly $978 million in economic impact, according to Bacon.
Tourism also plays a significant role, contributing nearly $250 million in economic impact locally and supporting nearly 2,000 jobs in Daviess County, Bacon said.
Guest speaker Michael Antonelli, a market strategist with Baird Private Wealth Management, provided a broader economic perspective, noting long-term growth trends in the U.S. economy.
He pointed out that the U.S. gross domestic product has grown from roughly $5 trillion in 1973 to approximately $22 trillion today, when adjusted to constant dollars.
Antonelli also emphasized demographic trends, noting that many of the fastest-growing cities are driven by populations in their mid-to-late 30s — a period associated with peak earning, spending, and household formation.
Bacon closed the event by shifting focus from financial metrics to the human impact behind economic development.
“The real story is the parent who gets a better job, the couple earning a better life, the student or college graduate who sees a future here instead of somewhere else,” he said. “Economic development isn’t only about dollars — it’s about dignity, opportunity, and people building better lives right here in our community.”
By John Kirkpatrick The Owensboro Times