Business and the Economy

11:54pm

Thu November 27, 2014
Business and the Economy

Kentucky Mom and Pop Businesses Hope Black Friday Sends a Positive Message about Holiday Sales

Credit kyretail.com

Even though the day is still young, some black Friday shoppers are already worn out and heading home.  The day after Thanksgiving carries with it the tradition of looking for the best holiday gift deal.  That pursuit can begin at midnight and may involve standing in line for the latest and fanciest item.  

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12:18pm

Thu November 27, 2014
Business and the Economy

Police Hope for Patient Drivers and Security-Minded Shoppers

Credit ponyupkentucky.com

The holiday shopping season is upon us and Lexington police are urging shoppers to do all they can to secure packages around busy retail outlets. 

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4:43pm

Tue November 25, 2014
Business and the Economy

Auction Fetches High Price for New Bourbon

Credit insiderlouisville.com

One of Kentucky's newest whiskey makers is making a big splash with its first batch of bourbon.

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4:25pm

Fri November 21, 2014
Business and the Economy

Lexmark Reports Paper Use Still Solid

Credit abcoffice.com

Officials with Lexington-based Lexmark International are touting the survival of single cut-sheet paper.  

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4:47pm

Fri November 14, 2014
Business and the Economy

Governor Beshear Heads to Japan for Five Day Economic Development Trip.

Credit state-journal.com

Governor Steve Beshear leaves Saturday for an economic development trip to Japan.  The governor's office says the trip marks an effort to strengthen and encourage international investment in Kentucky.

More than 160 Japanese facilities are situated in Kentucky, employing more than 40,000people.  Governor Beshear says he's determined to extend Kentucky's successful track record for attracting Japanese companies. Foreign direct investment has played a key role in boosting the state's economy. 

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8:56am

Fri November 14, 2014
Business and the Economy

National Ice Cream Retailers Association Hold Meeting in Lexington

Credit Stu Johnson / WEKU News

    

Even with temperatures taking a big dip this week, some folks still have a taste for ice cream.  The cold treat was the main topic of conversation for hundreds of people this week in downtown Lexington.

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9:54pm

Mon November 10, 2014
Business and the Economy

Two Kentucky Towns Rank High Among Cities for Veterans

Credit army.mil

An online personal finance social network is giving two Kentucky cities high marks on behalf of certain services available to veterans. In their survey of 100 U.S. cities in areas including military skill-related jobs and medical care, Wallet-Hub ranks Lexington 12th and Louisville 30th. 

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4:49pm

Wed October 29, 2014
Business and the Economy

Commercial Air Service From Pikeville to Nashville Officially Takes Flight

Credit worldairlinenews.com

4:29pm

Mon October 27, 2014
Business and the Economy

Keeneland Attendance Down for Fall Meet

A less active Keeneland the Monday after a fall meet
Credit Stu Johnson / WEKU News

    

Lexington's historic Keeneland Racecourse just wrapped its fall meet. The track set attendance records the past couple of years. This year's attendance fell about 15,000 patrons shy of last year.  Spokeswoman Amy Gregory says rain and cooler than normal temperatures had an impact on turnout during seven of the first 10 racing days.  "The weather really challenged us but we had a new dirt track that we debuted this fall and the dirt track performed beautifully.  The new drainage system handled the rain that we got the first couple of weeks really well," said Gregory.

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10:35pm

Sun October 26, 2014
Business and the Economy

Kentucky Manufacturers Participate in First Innovation Conference

Credit americanradioworks.org

High tech computers and machinery are a part of today's advanced manufacturing environment.  With that, comes the use of robotics to assist in making precision products.   David Chavern, President of the U.S.

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5:48pm

Thu October 23, 2014
Business and the Economy

Kentucky Tourism Officials Promoting Food Across the Commonwealth

Credit lanereport.com

Kentucky's Department of Travel and Tourism is working to expand culinary tourism across the state.  Officials are launching the food focused website KentuckyCuisine.com. Department Spokeswoman Scottie Ellis says the goal is to get in on the front end of culinary tourism.  "You know food is a necessary part of everyday life, but it is a very big part of travel.  If you have a bad meal, it could ruin your entire experience," said Ellis.

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9:51pm

Tue October 21, 2014
Business and the Economy

Bourbon's Impact on Kentucky Economy Still Growing

Credit bourbonblog.com

Kentucky’s Bourbon industry has nearly doubled its workforce in the last two years and contributes $3 billion in gross state product to the state economy. The University of Louisville's Urban Studies Institute report shows the industry's economic contribution has increased by 67 percent from 2012.

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4:24pm

Mon October 20, 2014
Business and the Economy

Manpower Services Not Yet Seeing Uptick in Seasonal Hiring

Credit cnbc.com

    

The holidays are fast approaching and that usually means an increase in seasonal employment.  One agency that links potential workers with employers is not yet seeing an increase in temporary hiring.

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4:16pm

Mon October 20, 2014
Business and the Economy

Four Country Concerts Causing Parking Adjustments

Credit Stu Johnson / WEKU News

Four concerts over two days in downtown Lexington during Halloween weekend are expected to challenge parking and traffic. Country star Garth Brooks will play two shows at Rupp Arena on Friday, October 31st and two more on Saturday, November first.

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5:47pm

Fri October 17, 2014
Business and the Economy

Gas Prices Dip Below $2.90 in Parts of Kentucky

Credit Stu Johnson / WEKU News

There are reports of gasoline prices under two dollars and 90 cents across parts of Kentucky.  The price per gallon has been dropping at a rapid pace with less demand and an ample supply.  Bluegrass AAA Spokesman Christopher Oakford says it's difficult to say how low prices will  go.  "You will see a wide variance in the price of gas.  I can't really comment on how far it will drop or how long it will continue to drop unfortunately because there are so many factors that affect the price, particularly of oil," said Oakford.

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4:24pm

Thu October 16, 2014
Business and the Economy

Kentucky Equine Education Project Launches Nonprofit

Credit kyfbnewsroom.com

The long standing Kentucky Equine Education Project this week is launching a nonprofit foundation.  The KEEP foundation aims to provide funding grants for Kentucky's horse industry through educational efforts.  Cara Stewart is the KEEP Grassroots Director.  "There's a big need in supporting local horse shows, local youth programs, trail rides, breed associations and we wanted to have a venue to raise money specifically for those entities in some of our grant processes," said Stewart.

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4:11pm

Thu October 16, 2014
Business and the Economy

Kentucky Jobless Rate Falls to 6.7 Percent

Credit bizjournals.com

Kentucky officials say the state's unemployment rate in September dropped to its lowest rate in more than six years.

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10:27pm

Wed October 8, 2014
Business and the Economy

City of Lexington Likely to Deny Cable Television Transfer

Credit wktv.com

Lexington city leaders remain at odds with its cable TV carrier over a franchise agreement.   The Lexington Council is expected to vote Thursday night on resolutions denying the transfer of the local franchise from Time Warner to Comcast, and from Comcast to Charter Communications.  The vote comes as city officials are hearing customer concerns on service and cost.  

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10:26pm

Wed October 8, 2014
Business and the Economy

Kentucky's Manufacturing Sector More Than Bourbon and Cars

Credit waymarking.com

October has been designated National Manufacturing Month. Kentucky is well known for its automotive, bourbon, and equine industries but an official with the state's Economic Development Cabinet says the Commonwealth is successful in other trades.

Joe Hall says Kentucky is home to more than 4,000 manufacturers with 220,000.   "Well I think the significance really showcases the diversity of Kentucky's economy and we really are a manufacturing state," said Hall.

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4:21pm

Mon September 29, 2014
Business and the Economy

State's Top DFI Official: Ease Regulations for Community Banks

Charles Vice, Commissioner of the Department of Financial Institutions
Credit lanereport.com

The head of Kentucky's Department of Financial Institutions hopes to see some easing of federal banking regulations for community banks.  Charles Vice testified earlier this month before the U.S. Senate Banking Committee. Vice says community banks shouldn't have to bear the punishment for problems they didn't create. 

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4:46pm

Tue September 23, 2014
Business and the Economy

Kentucky's First Legal Hemp Crop in Decades Harvested at UK Research Farm

Credit Stu Johnson / Weku News

    

For the first time in decades, hemp has been legally harvested from Kentucky soil. The cutting of the test plot happened Tuesday on a University of Kentucky farm.

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12:57pm

Thu September 11, 2014
Business and the Economy

T-shirt Maker Plans New Plant in Northern Kentucky

Credit www.rcnky.com

A company that makes custom T-shirts used for organizations and fundraising campaigns is opening a new plant in Hebron, where it plans to create up to 299 new jobs and invest nearly $22 million.

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12:34pm

Mon September 8, 2014
Business and the Economy

Kentucky Receiving Funds to Help Exports

Credit www.kyexports.com

Kentucky is receiving a $300,000 State Trade Export Promotion grant to foster international trade among the state's small businesses.

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6:00am

Mon September 8, 2014
Business and the Economy

New Lexington Trade School Aims to Help Builders Recruit More Workers

left-Bruce Maybriar right-Todd Johnson
Credit Stu Johnson / WEKU News

A trade school associated with the Home Builders Association of Lexington officially opens Monday.  About 28 students will participate in heating, ventilation, air conditioning or carpentry classes at the Building Institute of Central Kentucky.

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4:40pm

Wed September 3, 2014
Business and the Economy

Electric Car Battery Research in Kentucky Moving Steadily Forward

Credit businessclimate.com

Kentucky could one day be home to a sizable electric car battery manufacturer.  That's according to Tony Hancock, Kentucky Argone Battery Center Director.  Hancock's comments come as five western states were battling it out to land Tesla Motors' $5 billion battery factory.  Tesla is expected to announce formally Thursday it's selected Nevada for its battery operation.

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4:36pm

Wed September 3, 2014
Business and the Economy

Blue Grass Station Welcomes Legislative Remedy to Meet Federal Defense Contractor Needs

Governor Beshear Visits Blue Grass Station for Ceremonial Bill Signing
Credit Stu Johnson / Weku News

    

The Blue Grass Station is taking advantage of a new law to help the complex better meet the needs of its federal agency customers. 

House Bill 318 was officially signed into law in March. Wednesday's ceremonial signing by the governor marks the real celebration for the facility.

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4:51pm

Tue September 2, 2014
Business and the Economy

UK and Aramark Partner to Boost Sustainable Ag in Kentucky

Credit kentucky.com

    

Kentucky farmers will likely benefit from the affiliation between the University of Kentucky and food delivery giant Aramark. 

Officials announced Tuesday a new project within the public-private partnership.

The "Food Connection" initiative at UK is backed by a $5 million investment by Aramark.  Officials say $1 million will be set aside to endow undergraduate and graduate internship and fellowships and $250,000 annually will be spread over 15 years for staff, programming, and research grants.

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4:08pm

Thu August 28, 2014
Business and the Economy

Workforce Development Plan Due in December to City Council

Credit bluegrass.kctcs.edu

Lexington city leaders are hoping to use workforce related data to design a new job placement strategy. 

Business and Education Network Director Billie Peavler updated Urban County Council members this week. Peavler says a report detailing workforce needs for 11 industries is expected later this year.  "This is really about identifying what our current labor pool is, what our future needs of our employers are and building that pipeline for that.  Attracting, retaining, and developing a skilled, educated, and talented workforce," said Peavler.

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8:15pm

Tue August 26, 2014
Business and the Economy

Lexington Leaders Still Mulling Over Expenses Tied to Suspended Rupp Arena Project

Credit Stu Johnson / Weku News

While the Rupp Arena project is on indefinite hold, Lexington city leaders still have expenses tied to the venture.  

Plans to renovate Rupp and build a new convention center were postponed earlier this year.  The decision came after the state general assembly turned down a request by project developers for $60 million. Project Manager Frank Butler's contract with the city runs through December of next year. 

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10:16pm

Thu August 21, 2014
Business and the Economy

Lexington's New Local Food Coordinator Lays Out Agenda to City Council

Credit kentucky.com

Increasing local food production in the Lexington area is one key objective of the city's newly named local food coordinator. 

Ashton Potter-Wright presented her agenda this week to Lexington council members.  Potter-Wright admits it's unrealistic to expect significant, short-term economic gains in bluegrass food production.

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