Business and the Economy

1:50pm

Wed July 20, 2011
Business and the Economy

The Ark Park is Moving

Ark Encounter
Grant County News

The Ark Encounter project is moving. Even though no dirt has been moved since the $150 million Grant County project was announced in November, there’s been much activity, mostly getting agreements signed, property purchased and data gathered. The project, which will involve a full-scale wooden replica of Noah’s Ark, as well as a bird sanctuary, a biblical village and animal shows, is on track for a ground breaking ceremony in late summer.

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10:09am

Wed July 20, 2011
Business and the Economy

Industries Expand in Henderson

Gov. Steve Beshear, left, his wife, Jane, and Henderson Mayor Steve Austin talk during the governor's visit to Henderson Tuesday.
The Gleaner

In a sweltering airplane hangar, Gov. Steve Beshear on Tuesday afternoon delivered refreshing news: Three Henderson industries intend to create up to 47 new jobs and invest more than $4 million here. “It’s a further indication that we are on the right track,” Beshear said, commending the “vibrant companies and smart entrepreneurs that are determined to not just survive the recession, but thrive and grow.”

1:27pm

Tue July 19, 2011
Business and the Economy

Mine Shields Inc. Almost Certified

Mine refuge chambers
The Advocate Messenger

One final test stands between Mine Shields Inc., and certification that could create more than 100 new jobs in Garrard County. But it's a big one. The test, which will take place Thursday in New Mexico, is the last of five necessary to get the company's mine refuge chambers approved by the Mine Safety and Health Administration, Mine Shields CEO Connie Hendren said.

10:12am

Tue July 19, 2011
Business and the Economy

More Than Bargains at Goodwill

Paula Kidd
Georgetown News-Enterprise

For some, the Georgetown Goodwill store is a great place to bring jeans and old sweaters that no longer fit, purchase gently used furniture or to find old vinyl records. For Paula Kidd, the Goodwill store aided her in a time of need. Two years ago, Kidd started at the Georgetown store as a production clerk. Today, she's the store's assistant manager. Last year, Goodwill Industries of Kentucky employed more than 1,600 people at 59 locations.

6:21am

Tue July 19, 2011
Business and the Economy

Lawmakers Tout Job Growth Signs

Homegrown Lexington tech company SIS is expanding, pouring 5.5 million dollars into its operation. And state and local lawmakers are hoping that becomes a trend. In a time when officials are eager to tout job growth, it's no surprise to see ribbon cuttings drawing larger crowds. SIS, a local tech solutions company, celebrated its expansion Monday, along with the addition of 15 new high-tech jobs. And while that number may sound modest, they're the kind of jobs Governor Steve Beshear says signal recovery.

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5:39pm

Mon July 18, 2011
Business and the Economy

Two LOU Borders Stores to Close

After 40-years in business, Ann Arbor, Michigan-based Borders plans to liquidate. The company once operated four bookstores in Louisville, but the branches on 4th Street and South Hurstbourne were closed weeks after the company filed for Chapter 11 in February. The stores at Shelbyville Road Plaza and on Bardstown Road were to remain open through the Chapter 11 process, but will now close along with about 400 other branches that survived the first round of closures.

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2:54pm

Mon July 18, 2011
Business and the Economy

Mountain Online Retailer adds 50 jobs

Community leaders and officials from TrollandToad.com attended a ribbon-cutting ceremony Monday celebrating the expansion of the company’s Kentucky operations. The 18-year-old company, which specializes in games, moved into a new location in Corbin and has added 50 new jobs, bringing its total employment to more than 160. Over the next two years, the company plans to hire 100 more employees, for a total of more than 250 employees.

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9:20am

Mon July 18, 2011
Business and the Economy

NASCAR Week Mixed for Kentucky Business

The inaugural Quaker State 400 brought mixed results for businesses near the Kentucky Speedway, with some saying their business was up while others were left wondering why the expected windfall fell short.

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7:01am

Mon July 18, 2011
Business and the Economy

Toyota: Parts Shortage Hardly Felt

It’s been more than a month since production increased at the Toyota plant in Georgetown, Kentucky after a weeks-long parts shortage. The shortage was caused by the April earthquake and tsunami in Japan, which severed and disrupted supply chains. All of Toyota’s 13 North American plants saw production drop as a result.

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2:52pm

Sun July 17, 2011
Business and the Economy

Tourism Gains Down the Track

New railroad ties await installation in downtown Midway
Stu Johnson Weku

Repairs to a railroad which cuts through the heart of a scenic central Kentucky town is sure to cause some disruption.   But, it’s the view ‘down the track’ which excites business owners who cater to tourists. Railroad crossing repairs along four streets in Midway is expected to snarl traffic over the next couple of weeks.  Each crossing will be impassible for a couple days while it’s upgraded.  It’s inconvenient, but Mary Thoresen of Damselfly Gallery says it’s important to look at the big picture.

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1:38pm

Fri July 15, 2011
Business and the Economy

Harrodsburg's Hitachi Plant Creates 145 jobs

More than 700 Hitachi employees, including upper management from Japan and across the country, attended a ribbon-cutting ceremony Thursday in honor of the company's expansion, which will create 145 new jobs over the next three years. Harrodsburg's Hitachi plant already employs 2,000 workers. Gov. Steve Beshear was on hand in September when the company broke ground for the $48 million project.

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10:23am

Fri July 15, 2011
Business and the Economy

Debt Ceiling: Consequences Overstated?

Kentucky residents could feel the effects locally if Washington, D.C., politicians can’t come up with a solution to raise the debt ceiling by the beginning of August - although one state economist doubts the severity of the situation would be as bad as some have predicted. John Garen, the Gatton Endowed Professor of Economics at the University of Kentucky in Lexington, said there have been temporary disruptions of government business in the past. In those events, which are typically very brief, some federal employees are furloughed and offices are closed, he said.

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10:00am

Fri July 15, 2011
Business and the Economy

Debt Ceiling Debate Impact on Kentucky

More than politicians on Capitol Hill are taking stock in the current U-S debt ceiling debate.  University of Kentucky professor of economics, John Garren says finding a solution to long term debt can be a confidence builder for Kentucky business people.

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2:24pm

Thu July 14, 2011
Business and the Economy

Louisville to Receive Bloomberg Grant

Louisville is among five cities chosen to receive money and assistance from the philanthropic arm of the Bloomberg company.  Bloomberg Philanthropies is giving a total of $24 million to Louisville, Atlanta, Chicago, Memphis and New Orleans. The money will essentially pay for brain power, through what the charity is calling innovation teams. They’ll work with local governments to address pressing issues identified by city leaders.

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10:10am

Thu July 14, 2011
Business and the Economy

Cumberland Faces Water Problems

The city of Cumberland is considering turning the water off for customers in outlying areas. That was revealed at Tuesday’s city council meeting where Mayor Carl Hatfield painted a stark picture of the city’s water problems. “Unless we get funds to rebuild our water distribution system, we will have to disconnect our service to customers in the outlying areas,” said Hatfield. “This is very serious. The new hookups that we have been doing have overburdened the city’s water system. Our water lines are so dilapidated that the added pressure from additional hookups causes them to pop open.”

2:16pm

Wed July 13, 2011
Business and the Economy

Ale-8-One Marks 85 Years

One of Winchester’s most well-known businesses will celebrate another milestone Wednesday. Eighty-five years ago today, Ale-8-One founder G.L. Wainscott sold the first bottle of the local soft drink. The company has no official celebrations planned for the day, but the public is invited to share stories about Ale-8-One.

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8:51am

Wed July 13, 2011
Business and the Economy

Officials Downplay Rival Zip Lines

Work started this week on the new zipline at the Black Mountain Off-Road Adventure Area. The $200,000 project represents a major investment for the Harlan County Outdoor Board Authority, and recently the board learned about the opening of a competing zipline in eastern Kentucky. A private developer has opened a zipline attraction at Red River Gorge in Wolfe County, but representatives of the outdoor board downplay the significance of that opening on their project

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1:36pm

Mon July 11, 2011
Business and the Economy

Clark Co.Distribution Center Creates 12 Jobs

WINCHESTER – Community leaders and officials from Senko USA celebrated the grand opening Monday of the company’s new distribution center in Clark County. The facility represents a capital investment by the company in excess of $4.8 million to date and will create 12 new jobs in the community by the end of the year.

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1:32pm

Mon July 11, 2011
Business and the Economy

New Service Center Creates Over 200 Jobs

LEXINGTON - Community leaders and company officials from Allconnect Inc., a consumer services company, celebrated Monday the opening of the company’s new in-bound sales and customer care center in Lexington. The company announced its decision to locate the new facility in the Coldstream Research Campus earlier this year. The project represents a nearly $7 million investment and approximately 220 new jobs for the community.

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1:53pm

Fri July 8, 2011
Business and the Economy

Alltech Sponsoring Another WEG

A central Kentucky company is again sponsoring the largest equestrian event in the world. Alltech President Dr. Pearse Lyons announced Friday that his animal nutrition and brewery business will again be the title sponsor for the World Equestrian Games.

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1:49pm

Fri July 8, 2011
Business and the Economy

Statewide Economic Plan Developing

Under the direction of the Kentucky Economic Development Partnership Board, the Cabinet for Economic Development Friday announced it has engaged Boyette Strategic Advisors, an economic development consulting firm, to develop a statewide economic development strategic plan. Called "Kentucky’s Unbridled Future," the plan will provide direction to enhance job creation and investment in the state over the next several years.

1:47pm

Fri July 8, 2011
Business and the Economy

Factory to Lay Off 100 Employees

Nicholasville's Trim Masters plant, located at 401 Enterprise Drive.
Mike Moore Jessamine Journal

The Nicholasville Trim Masters plant anticipates laying off more than 100 employees, Jessamine County Economic Development director Wayne Foster said. The said the factory will remain open. The company makes door trim, including injection molding and assembly, seat assembly and vacuum forming and assembly for the automotive industry.

6:22am

Fri July 8, 2011
Business and the Economy

New Kentucky Bank First in Decades

For the first time in more than 80 years, Kentucky state government is depositing its receipts in a new bank. Earlier this year, the state awarded to JP Morgan Chase the contract to be its depository. Chase took over as the state’s new banker this week. Frankfort-based Farmer’s Bank had held the contract continuously since 1928.

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4:41pm

Thu July 7, 2011
Business and the Economy

Ford Hires 1,800 at Louisville Plant

Starting today at 5:oo this afternoon, Ford will begin hiring 1,800 workers for the newly re-tooled Louisville Assembly Plant. The plant recently underwent a $600 million renovation project to prepare it to build several new types of vehicles, including variations on the popular Escape. Ford says the plant is the most modern and flexible in the company. Louisville Mayor Greg Fischer praised the move as an important step in his plans for the city.

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1:27pm

Tue July 5, 2011
Business and the Economy

Reform Needed to Continue Medicaid

A report released by Bowling Green-based Bluegrass Institute last month claims Kentucky’s Medicaid program is on an “unsustainable path.”  The report, titled “An Unsustainable Path: The Past and Future of Kentucky Medicaid Spending,” was authored by John Garen, an economics professor at the University of Kentucky, and takes an in-depth look at the issues facing the state’s Medicaid program. “(Medicaid’s) expansive spending growth over the past 25 years has put increased pressure on state and federal budgets,” Garen said in the report. “Medicaid has failed to fulfill the goal of improved health for most of its recipients.”

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1:25pm

Tue July 5, 2011
Business and the Economy

Mercer Co.'s Industries Greatly Expanding

 When the economy has fallen and can’t seem to get back up, the job of industrial recruiter goes from difficult to nearly impossible. Yet Drew Dennis, executive director of the Harrodsburg-Mercer County Industrial Development Authority, has been on something of a roll ever since he started in April 2009. Mercer County’s industrial expansions have all come in the last year, with Corning, Hitachi and Wausau Paper all announcing major additions to their Harrodsburg operations. Those investments will result in more than 300 new jobs. In fact, the amount spent on expansions in Mercer County since the beginning of 2010 surpasses the $366,527,246 spent on new manufacturing facilities across the entire state of Kentucky during that period, according to state figures.

10:39am

Mon July 4, 2011
Business and the Economy

Somerset Firm Sees Natural Gas as Electricity

If David Weddle's idea works, natural gas from unused wells will play a growing role in meeting Kentucky's electricity needs.Weddle is president and c hief executive of Wellhead Energy Systems, which has developed a way to convert natural gas to electricity at the well and feed it into the power grid. The Somerset company's plan involves tapping so-called "stranded" gas wells to generate electricity. Stranded wells have been drilled but aren't producing. Wells can end up stranded for various reasons. For instance, a company might drill a well to preserve a lease, but it isn't connected to a pipeline to transport the gas. The electrical grid is much more extensive than the network of pipelines to gather and transport natural gas, creating an opportunity to convert the gas to electricity and feed it into the grid through lines that pass the site, Weddle said.

4:17pm

Fri July 1, 2011
Business and the Economy

Civilian Employers Experience Military Life

Brenna Angel Kentucky Public Radio

They took a flight aboard a C-130 Hercules, had a Meal Ready to Eat for lunch, and watched a live fire training session. Several civilian employers got a taste of military life at Camp Atterbury, Indiana this week as part of Boss Lift 2011. Dave Robinson, a resource manager for the Army Corps of Engineers in Harlan County, Kentucky, visited the Kentucky National Guard's 149th Maneuver Enhancement Brigade.

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2:03pm

Fri July 1, 2011
Business and the Economy

Fireworks Sales Provide Opportunities

The recent legalization of certain fireworks may help one stand manager go back to school. “I’ve wanted to go back,” said Will O’Neil, 22, who manages Tennessee Ted’s in Brighton Park. “I just need the money to do it.” He attended Kentucky State University for two years, then had to take off last year because he couldn’t pay for more classes.

10:34am

Fri July 1, 2011
Business and the Economy

More Guilty in KY Oil and Gas Scheme

The former vice president of a Kentucky oil and gas company and a former geologist were sentenced Thursday for defrauding hundreds of investors nationwide out of millions of dollars. Christopher Cello Smith, 50, of Prestonsburg, was sentenced to five years in prison after being convicted by a federal jury of seven counts of mail fraud last July, according to a news release from the U.S. Attorney's Office. Smith served as vice president of Target Oil and Gas Co. in Albany from 2003 to 2008. He also was sentenced to three years supervised release and a $500 mandatory assessment. U.S. District Senior Judge Joseph M. Hood imposed a a forfeiture judgment in the amount of $3 million.

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