In the high-stakes game of economic development, you have to swing big, even if the results aren't a guaranteed home run.
This December, we're seeing Ford and SK On dissolve their BlueOval SK partnership, leading to very unfortunate layoffs for 1,600 workers in Glendale. Why? Because the market shifted. Consumer demand for EVs hasn't hit the targets anyone expected, and recent federal policy changes have added further uncertainty.
But here's the reality: Ford isn't walking away. They're pivoting, investing another $2 billion to repurpose that site for battery energy storage — a booming market for data centers and the power grid.
Now, critics are pointing at that $250 million forgivable loan as a failure. It's not. That loan was always performance contingent, tied to jobs and wages. If the targets aren't hit, the state can — and should — renegotiate the terms to protect taxpayers.
We can't be afraid to take these big swings. To make Kentucky a manufacturing leader, we have to offer the incentives that bring global giants to our doorstep. Business isn't static, and neither is the energy market. By supporting these risks, we ensure that when the next big industry arrives, Kentucky is the first place they look. We're still in the game, and that's exactly where we need to be.
What do you think?
I'm Bill Lamb, and that's my Point of View.
