Business and the Economy

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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5:28pm

Mon August 18, 2014
Business and the Economy

Beef Growers Could Pay More for Promotion

Credit kyfbnewsroom.com

The Kentucky Cattlemen's Association is asking the State Board of Agriculture for approval to conduct a statewide referendum of beef cattle producers.

The KCA is proposing increasing the state assessment from $1 to $2 per head of cattle marketed in the state.

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10:28pm

Sun August 3, 2014
Business and the Economy

Minorities get Business Advice and Seek Connections at Expo

Credit kyforward.com

Participation in Lexington's annual minority-owned business expo continues to grow within and outside Kentucky.  Over 500 attendees Friday heard advice on business planning, expansion, and start-up strategies. 

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4:22pm

Thu July 31, 2014
Business and the Economy

Golf Fans Expected to Boost Kentucky Tourism Figures

Credit courier-journal.com

State tourism officials are always working to make Kentucky a common vacation destination.  The Commonwealth will next week be a popular site for golf fans.

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4:26pm

Wed July 30, 2014
Business and the Economy

Record Land Transaction in Hamburg

Credit http://www.bluegrassextendedstay.com/

Fourth Quarter Properties has sold the Lexington Hamburg Pavilion shopping center for a record $185 point 7 million dollars.

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3:36pm

Wed July 30, 2014
Business and the Economy

Simpsonville Outlet Mall Gives Small Town Big Economic Boost

Credit kentucky.com

The Kentucky community of Simpsonville is preparing to welcome thousands of shoppers Thursday. 

A 300 thousand square foot outlet mall, fully leased, will open just off Interstate 64. 

City Administrator David Eaton says for the north-central Kentucky town of about 25 hundred, the economic impression will be substantial.  

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1:33pm

Wed July 30, 2014
Business and the Economy

State Approves Tax Breaks for Ark Encounter

Credit www.techtimes.com

A controversial religious theme park planned for northern Kentucky has been granted a new round of tax breaks by the state.

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4:49pm

Tue July 29, 2014
Business and the Economy

New Auto Manufacturing Group Aims to Speak with One Voice

Credit lanereport,com

Hoping to give the industry a "common voice," the newly created Kentucky Automotive Industry Association launches this week.

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5:24pm

Mon July 28, 2014
Business and the Economy

Bees Buzzing on EKU Campus

Credit Stu Johnson / Weku News

    

There's a buzz of activity this week at Eastern Kentucky University.

Hundreds of beekeepers from several states and outside the U.S. are in Richmond participating in the Eastern Apicultural Society meeting. 

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3:21pm

Tue July 22, 2014
Business and the Economy

Kentucky Bourbon Inventory Tops 5 Million Barrels

Aging bourbon at Buffalo Trace Distillery in Frankfort.
Credit Tom Eblen / Lexington Herald Leader

Kentucky bourbon makers are churning out larger volumes of whiskey being stored for aging.

The Kentucky Distillers' Association said Tuesday the state's bourbon inventory has topped 5 million barrels for the first time since 1977.

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4:16pm

Thu July 17, 2014
Business and the Economy

Technology Helps Kentucky Farmers Save Money and Beef Up Livestock

Making hay in Kentucky has more to do with science than with what the feed looks like.  Knowing what's inside their hay can save farmers dollars and help produce healthier livestock.

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10:40pm

Tue July 15, 2014
Business and the Economy

Big Tobacco Merger, Cool Temperatures on Minds of Burley Growers

Credit fayette.ca.uky.edu

    

Central Kentucky tobacco growers this summer are feeling the impact of the unseasonably cool weather. Growers are also feeling the effect of decisions made in the board room.

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9:32pm

Sun July 13, 2014
Business and the Economy

Morehead Mill to Help Keep Barrels Rolling

Credit kybourbontrail.com

A Morehead wood mill scheduled to open early next year is expected to help keep bourbon barrels rolling out of Lebanon, Kentucky.  

The stave mill, an estimated $10 million investment, could mean 70 new jobs for the region.  Independent Stave President Brad Boswell says the abundance of Kentucky Oak trees was a factor in selecting the Morehead site, "There's a wonderful resource of white oak logs in the Morehead area and we currently buy logs there, but we have to haul those logs to one of our other mill locations.”

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5:13pm

Mon July 7, 2014
Business and the Economy

Plant Groundbreaking Helps Reinforce Economic Recovery

Credit bgdailynews.com

An economics researcher says a groundbreaking for an aluminum plant in western Kentucky sends a bigger message about economic recovery.  Governor Steve Beshear, who was joined by other public and private sector officials, broke ground last week on a $150 million dollar aluminum production plant in Bowling Green. 

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9:20pm

Thu July 3, 2014
Business and the Economy

Kentucky Job Growth Seen at Slower Pace than National Average

Credit bizjournals.com

A federal labor department report released Thursday shows higher than anticipated job creation for June across the U.S.  State Economist Manoj Shanker is also seeing employment gains in many Kentucky counties. "Compared to a year ago, 111 counties out of 120 are doing better than they were a year ago,” says Shanker.  “As the state economy improves, it's almost evenly split, except for some parts of eastern Kentucky.”

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4:13pm

Wed July 2, 2014
Business and the Economy

Gas Prices Could Vary Greatly Across Kentucky This Weekend

Credit thenewstribune.com

Motorists traveling from one end of Kentucky to another this holiday period could see a differing range of gasoline prices.  GasBuddy-Dot-Com Petroleum Analyst Patrick Dehaan says the lowest-priced gas is found near Bowling Green at three dollars 34 cents a gallon.  Compare that to Louisville where travelers may find prices hovering around four dollars a gallon. 

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