Business and the Economy

Kentucky jobless rate drops to 7.9 percent

Kentucky News Content Service — Thu, 16 May 2013 19:01:19 +0000

Kentucky’s seasonally adjusted preliminary unemployment rate fell to 7.9 percent in April from 8 percent in March 2013, according to the Office of Employment and Training (OET), an agency of the Kentucky Education and Workforce Development Cabinet. The preliminary April 2013 jobless rate was .3 percentage points below the 8.2 percent rate recorded for the state in April 2012.

Woodford Reserve creates Fort Knox Lounge

Louisville Public Media — Thu, 16 May 2013 10:23:53 +0000

A new collaboration between a bourbon distillery and the military will give soldiers a place to relax—and introduce them to one of Kentucky's signature products. Liquor producer Brown-Forman has teamed up with the U.S. Army to open a Woodford Reserve bourbon lounge at Fort Knox. Soldiers and Brown-Forman executives opened the Woodford Reserve Room on Wednesday afternoon. Read more...

Restaurant opens Friday in Woodford's Castle

Greg Kocher and Lexington Herald Leader — Tue, 14 May 2013 13:50:15 +0000

The CastlePost Restaurant is scheduled to open Friday to the public. Owner Tom Post said Monday that he wants customers to "have the most fabulous dinner that they would ever have." Translation: This won't be a beans-and-cornbread kind of place. Some of the menu items include butter poached lobster canneloni, foie gras-stuffed duck breast and lemon curd tart. And as you might guess, the food is not inexpensive. Read more..

Door Manufacturer to open in Todd, creates 110 jobs

Kentucky News Content Service — Tue, 14 May 2013 13:46:47 +0000

ELKTON – Local, state and company officials in gathered in Elkton Monday to announce Glass Door Solutions LLC, a newly formed company, plans to lease a facility, create 110 new, full-time jobs and invest more than $3.5 million.

Tourism's Economic Impact Amounts to $12.2 Billion in Kentucky for 2012

Kentucky Press News Service — Tue, 07 May 2013 13:18:49 +0000

FRANKFORT – The economic impact of tourism in Kentucky amounted to more than $12.2 billion in 2012, Gov. Steve Beshear and Tourism, Arts and Heritage Secretary Marcheta Sparrow announced Monday. The economic impact figure is a 4.4 percent increase from 2011.

Lexington Food Truck Debate Goes On

Stu Johnson, WEKU and Stu Johnson — Mon, 06 May 2013 17:35:36 +0000

By early summer, an increased number of food trucks could be noticeable in downtown Lexington. But, their impact on the food scene remains uncertain. After much wrangling, a panel created by the city last week made recommendations. For the first time, they would allow food trucks in some metered parking spots during dayight. After ten p-m until three in the morning, the vendors could set up shop in any downtown, public metered area. There are other restrictions. The food trucks couldn’t operate within 100 feet of a residential area, and could occupy not more than half of the available metered spots.

Kentucky Bred Horses Continue to Make a Run

Stu Johnson, WEKU and stu — Mon, 06 May 2013 17:31:29 +0000

The Kentucky Derby victory by ‘Orb’ represents yet another feather in the Commonwealth’s horse breeding hat. The central Kentucky Thoroughbred, which ran down several horses in the stretch at Churchill Downs, is expected to compete in the Preakness on May 18^th. Kentucky Thoroughbred Association Director David Switzer says Bluegrass bred horses are on quite a run. “The past 22 triple crown races have been won by a Kentucky bred. It was 21 going into Saturday and Orb being a Kentucky bred made it 22. We are hoping for 23 and 24 with this horse coming up yet,” said Switzer.

Put on Your Derby Hat

Stu Johnson — Thu, 02 May 2013 13:19:59 +0000

The Kentucky Derby is known for a lot of things. It’s the “Fastest Two Minutes in Sports,” “Millionaires’ Row,” and mint juleps. Then there are the Derby fashions. A major part of the derby tradition lies in the heads of women attending the races. It’s also a busy time of year for a Lexington artisan.

Trucks Rolling Through Kentucky

Stu Johnson — Wed, 01 May 2013 20:40:07 +0000

Nicer weather has a few more truckers travelling Kentucky’s interstates. Overall, the trucking industry remains flat, but the head of the Kentucky Motor Transportation Association says recent figures are promising. Jamie Fiepke says trucking tends to decline in November and pick up in March. “From that point forward, that’s when you really start seeing the industry pick up, especially in a good economy, you’ll see it really take off and you’ll see truck everywhere. And you’re gonna see more and more trucks,” said Fiepke.

Bourbon Production in Kentucky Tops One Million Barrels in 2012

Janet Patton and Lexington Herald-Leader — Tue, 30 Apr 2013 15:33:47 +0000

For the first time since 1973, Kentucky's bourbon distillers produced more than 1 million barrels in 2012, the Kentucky Distillers' Association announced Monday. In 2012, 1,007,703 barrels were filled, topping the 1973 total of 1,004,877, the association said. "This is an incredible milestone that's been 40 years in the making," said Eric Gregory, president of the distillers group, which promotes and lobbies on behalf of the bourbon industry.

Maysville Distillery Releases its First Whiskey in 70 years

Marla Toncray, The Ledger Independent — Mon, 29 Apr 2013 18:34:51 +0000

Officials with The Old Pogue Distillery announced Friday the release of the first barrel aged whiskey distilled in Maysville in more than 70 years. The limited quantity brown spirit will be available only at The Old Pogue Distillery in Maysville beginning Wednesday.

Kentucky Hopes to Keep Bourbon Flowing with Tax Credits

Scott Wartman and The Kentucky Enquirer — Mon, 29 Apr 2013 16:56:18 +0000

The growing popularity of bourbon has sparked big dreams along the Ohio River and among the state’s leaders in Frankfort. An idea that began when Ken Lewis saw a surge in bourbon sales at his Party Source liquor store in Bellevue has taken shape with the stainless steel fermentation tanks now standing in front of his store on Ky. 8. Gov. Steve Beshear and other Kentucky leaders hope to help Lewis and Kentucky’s other 16 distilleries with tax credits and promotion to foster Kentucky’s signature liquor industry.

Kentucky Nonprofits Raise $300,000 in Online Giving Campaign

Louisville Public Media — Thu, 25 Apr 2013 21:05:10 +0000

The Kentucky Nonprofit Network staged its first Kentucky Gives Day this week, raising $330,000 for 380 nonprofit organizations in one 24-hour online campaign on April 24. The Network supplied each organization with digital campaign tools and a page on the Kentucky Gives Day Razoo site, the giving platform that received donations on behalf of the organizations.

Federal Spending Cuts Reduce Services at Mammoth Cave

Roybn L. Minor and The Daily News Bowling Green — Tue, 23 Apr 2013 17:54:18 +0000

Despite cutbacks at Mammoth Cave National Park, there still are plenty of opportunities for the more than 500,000 people who visit the park annually. “Except for our heaviest days, most people will be able to get a cave tour,” park Superintendent Sarah Craighead told a group Monday. As part of complying with federal automatic spending cuts, the park did, at least for now, eliminate the Grand Avenue and Snowball tours, but that still leaves nine other tours.

Toyota Expansion Could Boost Automotive Industry in Kentucky

Robyn L. Minor and The Daily News Bowling Green — Sun, 21 Apr 2013 17:18:08 +0000

Following recent expansions at Ford in Louisville and the General Motors Bowling Green Assembly Plant, an announcement of Toyota’s expansion further augments the automotive industry’s place in providing Kentuckians with jobs. Toyota’s $360 million expansion to build the Lexus ES 350 will mean 750 jobs for the Georgetown plant but will have ripple effects in the automotive supply industry that could touch southcentral Kentucky. Toyota will spend an additional $171 million to refurbish other parts of the plant.

Lexus Production Coming to Georgetown

Stu Johnson, WEKU — Fri, 19 Apr 2013 18:53:18 +0000

For the first time, a Lexus vehicle will be produced in the United States and it will be made at the Georgetown Toyota plant. The formal announcement came this morning from officials in New York and Scott County. Governor Beshear says it means 750 new Kentucky jobs at Toyota. “We realize the care and the pride that you take in that vehicle and that it requires the utmost in a skilled workforce, not to mention top quality components. Your confidence in the quality of Kentucky’s workers, especially our team here in Georgetown is appreciated and well placed,” said Beshear.

Toyota to Build Lexus ES in Georgetown

Scott Sloan and Lexington Herald-Leader — Fri, 19 Apr 2013 14:14:49 +0000

Toyota executives and state officials announced Friday morning that the automaker’s flagship North American plant in Georgetown will begin building the Lexus ES 350 luxury sedan in 2015. It will be the first Lexus model to be manufactured in the United States. The project is expected to add 750 jobs, which will include temporary and contract workers. State documents suggest 570 of the 750 new jobs will be full-time employees.

Nonprofit Kentucky Space Launches Program to Assist Businesses

Scott Sloan and Lexington Herald-Leader — Thu, 18 Apr 2013 20:03:42 +0000

Kentucky Space, a nonprofit focused on space research and education, has announced plans for a program to assist businesses with similar goals. Called Space Tango, the program will see investments in as many as six companies from across the country. Among the resources offered are technical and ground operations centers at the Morehead State University Space Science Center and the University of Kentucky Space Systems Laboratory. Kentucky Space also offers the ability to work with various NASA sites.

Toyota Plans Georgetown Expansion

Beth Musgrave, Lexington Herald-Leader and Scott Sloan — Thu, 18 Apr 2013 16:47:57 +0000

Toyota is planning an ambitious new project for its flagship Georgetown plant that might see it producing a new vehicle and adding 750 jobs. The news came Wednesday when the Kentucky Economic Development Finance Authority gave preliminary approval to $146.5 million in tax incentives for the project, which is shrouded in mystery. Katie Smith of the state's Cabinet for Economic Development told the KEDFA board that the project is a vehicle model that is new to the plant, which would produce 50,000 of them annually beginning in fall 2015. She declined to name the vehicle model.

Kentucky Support for Immigration Reform

Kenny Colston, KPR-Frankfort and Kenny Colston, KPR-Frankfort — Wed, 17 Apr 2013 17:43:38 +0000

Kentuckians concerned with agriculture, business and education spoke out in favor of the latest federal immigration proposal during a phone conference organized by the Partnership for a New American Economy. The immigration proposal is being considered in the U.S. Senate, thanks to a compromise by a group of eight senators from both political parties. The plan would create a 13-year path to citizens, expand work visas and attempts to tighten border security.

74 Layed off at Depot, 108 more Likely

Charles Compton — Mon, 15 Apr 2013 16:14:23 +0000

Layoffs were announced today at the Bluegrass Army Depot near Richmond. Within a few months, at least 74 workers will lose their jobs, but another hundred are likely. In a sense, Colonel Brian Rogers is returning his command to a peace time footing. As America’s military commitment to Iraq and Afghanistan has shrunk, so has its need for munitions. The combat veteran says laying off workers is the hardest thing he’s ever done.

Agency Approves $10-Million in Sales Tax Incentives for Kentucky Kingdom

Louisville Public Media — Wed, 10 Apr 2013 20:58:48 +0000

The group working to re-open the Kentucky Kingdom amusement park has gotten $10-million in sales tax credits from the Kentucky Tourism Development Finance Authority. The Kentucky Kingdom Redevelopment Company will release details of their plans for the park, including information on refurbished and new rides.

Cleveland Label Joins Spirited Race For “Quickie Whiskeys”

Brian Bull and WCPN — Mon, 08 Apr 2013 04:00:01 +0000

On a recent Friday night, Clevelanders squeeze shoulder-to-shoulder inside the Market Garden Brewery and Distillery. They’re here for the launch party of Cleveland Whiskey. It’s available straight on the rocks, or in a number of cocktails. Sam McNulty is Market Garden’s proprietor. “People are loving it. The only problem is, we’re running out of it right now. So we’re running to the store and getting some more.”

Convergys Corp. to Fill 400 Jobs

The Kentucky Enquirer — Sun, 07 Apr 2013 18:19:16 +0000

At its first job fair in nearly a year, Convergys Corp. saw 40 to 50 applicants file through the doors of its Erlanger call site during the first hour of the event Thursday afternoon. About 400 full and part-time customer service advocate jobs are available at its Erlanger call center site.

Eastern Kentucky Coal Production Hits Lowest Level Since 1965

Louisville Public Media — Thu, 04 Apr 2013 16:58:03 +0000

New data from the Kentucky Energy and Environment Cabinet shows that coal production is down in Eastern Kentucky from previous years, and the region’s workforce is suffering. Coal production dropped more than 27 percent from 2011 to 2012 in Eastern Kentucky. This is the lowest production has been in the region since 1965. And as expected, coal mine employment fell in Eastern Kentucky too, by nearly 30 percent from the 2011 levels.

Maker's Mark Charity Bottle to Honor UK Basketball Great Dan Issel

Janet Patton: Lexington Herald-Leader — Tue, 02 Apr 2013 18:37:21 +0000

Keeneland and Maker's Mark announced Monday that the latest signature charity bottle will honor University of Kentucky basketball great and Hall of Famer Dan Issel. Proceeds, estimated to be about $175,000, from the bottle will benefit the Gill Heart Institute at UK HealthCare. An all-American his senior year, Issel played for UK from 1967 to 1970 and remains the all-time leading scorer in men's basketball.

More Consumers Travel for "Locally-Grown" Produce

Charles Compton — Mon, 01 Apr 2013 16:26:29 +0000

Three roadside markets in Madison County have been added to a list created by the Kentucky Farm Bureau. The Farm Bureau program helps consumers find roadside stands that offer fresh produce and good customer service. Kentucky Farm Bureau President Mark Haney runs such a retail outlet.

Off Road Park Expansion

Stu Johnson — Wed, 20 Mar 2013 17:37:53 +0000

Off-road parks are expanding into a new region of Kentucky. The privately-owned “Rush Off-Road Park” is situated just outside Ashland. The seven-thousand acre facility opens April 20^th. Besides traditional off-road vehicles, Kentucky Adventure Tourism Assistant Director Seth Wheat says such parks also accommodate more recent designs. “And then, they also have trails that can accommodate your newer style side by side vehicles like Polaris Rangers and things of that sort. They’ve got trails for jeeps and four by four trucks that have been modified and customized to climbs rocks and climb hills,” said Wheat.

Kentucky Native Purchases Lonely Planet Travel Guide Company

Louisville Public Media — Tue, 19 Mar 2013 17:44:02 +0000

A billionaire Kentucky native is buying the travel guide publisher Lonely Planet for $77.3 million. Lonely Planet's current owner—British broadcaster BBC Worldwide—announced on Tuesday the sale to NC2 Media, which is run by Daniel Houghton, a Western Kentucky University alum. He'll become Lonely Planet's chief operating officer, pending approval of the sale by the BBC Trust.

Amazon's Winchester Center Listed Among Top Development Projects

Fred Petke and The Winchester Sun — Thu, 14 Mar 2013 16:34:41 +0000

Amazon’s decision to build a customer service center in Winchester earned an award from a national magazine for investment and community impact. Trade & Industry Development magazine listed Amazon, General Electric in Louisville and Berry Plastics in Madisonville among the nation’s top 30 economic development projects from 2012 and winners of the magazine’s Corporate Investment & Community Impact Awards.