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.
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.
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.
Charles Vice, Commissioner of the Department of Financial Institutions
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.
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.
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.
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.
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.
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.
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.
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.”
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.
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.”
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.