Business and the Economy

11:09pm

Tue May 6, 2014
Business and the Economy

Lexington Leaders Consider Expanding Food Truck Options

Credit kentucky.com

Lexington city leaders are looking into expanding where food trucks can conduct business.  A city council committee reviewed a proposal Tuesday to allow food trucks in professional office zones around the community. 

Division of Planning Director Chris King says proximity to neighborhoods should be considered.  "The only thing that does give me pause is that a lot of times P-1 are very close to residential and were set up and agreed to by neighborhoods as a step down buffer and if a food truck came in running a generator, generating smells, they might not be happy," said King.

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10:56am

Mon May 5, 2014
Business and the Economy

Focus on Business: Scott Clark on Social Media and Website Performance

Scott Clark is an online business consultant and owner of Lexington-based BuzzMaven Labs. He focuses on helping his clients find ways to improve the performance of their websites. And he offers guidance on internet marketing investments and social media activities.  

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4:06pm

Fri May 2, 2014
Business and the Economy

Full Lake Cumberland Ready for Spring Boaters

Credit parks.ky.gov

The president of Lake Cumberland State Dock says all signs point to a tremendous season for tourism. Bill Jasper got good news this week when the U.S. Army Corps of Engineers announced the water level at Lake Cumberland was at its full summer level for the first time in eight years. The water level was dropped in 2007 when repair work began on nearby Wolf Creek Dam.  

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3:58pm

Fri May 2, 2014
Business and the Economy

Thoroughbred Retirement Farm Hopes to Welcome More Derby Competitors One Day

Credit usnews.com

    

The founder of a thoroughbred retirement center in central Kentucky hopes to one day meet some of horses racing at Churchill downs this week.  The "Old Friends Thoroughbred Retirement" facility welcomed one horse just over a decade ago.   President Michael Blowen says there are 150 horses on site today. 

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1:30pm

Tue April 29, 2014
Business and the Economy

Future of Richmond-Berea Economic Plan Receives Mixed Reviews

Credit resilient-home-Berea.com

A Madison County official worries a just-released economic development plan for Madison County lacks on-the-ground support.  Berea Mayor Steve Connelly says there could be a problem turning recommendations into action, saying most people never took notice,  “There was never a conversation of people who would do anything.” He went on to say, “We have a plan but we don't have any implementers.”  Connelly went on to express his skepticism about the plan.

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9:21am

Tue April 29, 2014
Business and the Economy

Focus on Business: Alan Stein on "Reputation Management"

In recent years institutions that we tend to take for granted: our airport, the library, the Kentucky League of Cities, the Kentucky Association of Counties, the Bluegrass Area Development District, have experienced controversies that have shaken faith in leadership, highlighted instances of lax board governance, and most painful of all, damaged reputations.

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11:44pm

Mon April 28, 2014
Business and the Economy

Lexington Public Housing Complex Up for Overhaul

Credit apartments.oodle.com

Plans for renovating 200 public housing apartment units in Lexington carry a whole new financing and construction strategy.  The project involves the Pimlico Apartment complex on Centre Street.  Federal Housing and Urban Development's Greg Byrne participated in the ceremony today.

"We've allowed them to work with private investors, and lenders, and all that, just like anybody else who owns multi-family real estate.  Bringing public housing into the 21st century," said Byrne.

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1:14pm

Mon April 28, 2014
Business and the Economy

Bluegrass Pipeline Project Pulled

The proposed Bluegrass Pipeline, which would have crossed a dozen Kentucky counties over a 180-mile route, appears to be dead.

Williams Co. and Boardwalk Pipeline Partners, the two energy companies behind the controversial project, announced Monday that they could not put together a large enough customer base for natural gas liquids to make the project viable.

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6:00am

Mon April 28, 2014
Business and the Economy

Horse Park Awaits Word on World Equestrian Games

Credit horsedeals.com.au

Following the 36th Kentucky Rolex Three Day Event this weekend, attention is focusing quickly toward this summer and the anticipated announcement of the site of the 2018 World Equestrian Games.  The Kentucky Horse Park hosted the international horse competition four years ago.  Veteran Equine Public Relations Specialist Marty Bauman believes central Kentucky is in a good position to host the event again.  

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5:34pm

Wed April 23, 2014
Business and the Economy

Interim Director Named at Kentucky Horse Park

Credit Kentucky Horse Park

The Kentucky Horse Park has an interim director to take over the reins following the quickly approaching retirement of its long-time director John Nicholson. The Kentucky Horse Park Commission has chosen Ted Nicholson, no relation to John Nicholson, to serve as interim director of the Horse Park.  

Ted Nicholson will begin his tenure in May and serve until a permanent executive director is hired later this year.   He is currently a partner with a horse racing consultant firm. Before that, the interim director was general manager of the KFC Yum Center in Louisville. 

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10:29am

Wed April 23, 2014
Business and the Economy

Council Meeting Provides Some Answers About Rupp Financing

Credit aecprojecttalk.com

Discussion of funding for the Rupp Arena Project consumed parts of two city council meetings yesterday afternoon at city hall.  Rupp Project Manager Frank Butler took questions during a committee meeting and then before the full Council.  

Discussion centered on the state legislature's decision not to provide 80 million dollars in financial support.  Butler says state lawmakers wanted some assurance about city and University of Kentucky support.  He says the financing plan calls for UK to contribute almost eleven million dollars annually for 30 years.  

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5:31pm

Thu April 17, 2014
Business and the Economy

State Economist Says Jobless Rate Not a Cause for Alarm

Credit surfky.gov

A state economist says an uptick in the Kentucky unemployment rate is no reason for alarm. Kentucky's jobless average for March stood at seven point nine percent.  It increased one tenth of a percentage point in both February and March.  

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9:44pm

Wed April 9, 2014
Business and the Economy

Governor Celebrates Opening of Woodford Reserve Center in Versailles

Company officials and local leaders today celebrated the expansion and renovation of the Woodford Reserve Distillery visitor center in Versailles. Brown-Forman, owner of Woodford Reserve, invested more than $1.9 million into the 7,500-square-foot visitor center. 

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7:30pm

Sun April 6, 2014
Business and the Economy

State to Provide Assistance for Jobless Fruit of the Loom Workers

Credit kentucky.com

More than 600 people will be looking for work following a summertime plant closure in southern Kentucky. They could benefit from group and individual job counseling offered by the state.

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12:49am

Fri April 4, 2014
Business and the Economy

Kentucky Ready to Begin Growing, Producing Hemp

Ky. Agriculture James Comer says he has been given the go-ahead by the Attorney General to implement pilot projects in growing and producing hemp at six state universities.
Credit File photo

The Commonwealth is ready to move forward with plans for the first legal production of hemp in at least 50 years.  Earlier this year, the State Department of Agriculture announced it was creating pilot projects in growth and production of the plant at six universities.

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6:40pm

Thu April 3, 2014
Business and the Economy

Promising Report for Kentucky's Forest Industry

Credit isuagcenter.com

    Kentucky's timber industry expects a profitable year in 2014.   That's according to an economic impact report issued Thursday during a forest industry meeting in Louisville. 

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9:17pm

Tue March 25, 2014
Business and the Economy

Rising Waters at Lake Cumberland

Credit kentuckytourism.com

The water level of one of Kentucky's most popular waterways is going up.   The message from Washington got a good reception at the state capitol Tuesday.

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12:15am

Fri February 28, 2014
Business and the Economy

UK Among Schools Receiving Millions for Study of Manufacturing

UK President Eli Capilouto
Credit lanereport.com

Two Kentucky universities are recipients of hundreds of millions of dollars to further the study of advanced manufacturing initiatives.  The University of Kentucky is among nine schools that are part of the American Lightweight Materials Manufacturing Innovation Institute. 

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8:52am

Tue February 18, 2014
Business and the Economy

New Agriculture Campaign Targets Appalachian Counties

Credit knottcountyadventure.com

A new effort is being launched to better promote the agricultural economy of 37 eastern Kentucky counties.  State and federal officials were on hand Monday in Knott County to announce the trademarked brand “Appalachia Proud: Mountains of Potential.”

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6:30am

Wed January 29, 2014
Business and the Economy

Former Lexington Department Store to House UK HealthCare Services

Credit Lexington Herald Leader

The former Dillard’s store in the vacant Turfland Mall will become home to University of Kentucky primary care and specialty outpatient clinics. UK HealthCare will be the anchor tenant on the first floor, using some 85 thousand square feet of renovated space.   

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3:30pm

Fri January 10, 2014
Business and the Economy

State Tax Collections Down

Credit 4qpublic.net

Kentucky is reporting a 3.5 percent drop in tax collections for December, but state revenue is up slightly for the first six months of the fiscal year.  State Budget Director Jane Driskell said today General Fund revenue totaled $912.6 million in December, a drop of $33.2 million compared to the same month in 2012.

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3:30pm

Tue December 31, 2013
Business and the Economy

State Auditor to Review Yum Center

Credit thegazzette.com

A Louisville Metro Councilman plans to ask the state auditor to conduct a review of the Louisville Arena Authority, which oversees the KFC Yum Center. Councilman Dan Johnson says the authority, which is a state body, has been mismanaged, and the University of Louisville’s control over the authority’s board has caused it to underperform.

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2:52pm

Mon December 23, 2013
Business and the Economy

Louisville Firm Develops Pill Holder

Credit courier-journal.com

A Louisville company has created a secure pill dispenser with the aim of combating prescription drug abuse. The Pill Guard is designed to ensure patients get the prescribed dose of medicine at the right time, and it prevents a user from taking too many pills at one time.

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3:08pm

Tue December 17, 2013
Business and the Economy

'BEAM' Looking to Increase Kentucky Exports

Credit wfpl.org

Officials with the Bluegrass Economic Advancement Movement or BEAM are looking to increase Kentucky exports.  They’ll use a 200 thousand dollar contribution from the JP Morgan Chase Foundation.  Eligible small businesses in a 22 county region can secure up to 45 hundred dollars to help gain more product exposure.

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4:16pm

Mon December 16, 2013
Business and the Economy

Home Loan Fund to Move Families into Vacant Houses

Credit kentucky.com

A long standing central Kentucky non profit, the Attorney General’s Office, and five banks are establishing a five million dollar home loan fund.  Community Ventures Corporation C-E-O Kevin Smith says the program is aimed at assisting up to 70 families who can’t qualify for traditional bank financing.

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6:41am

Thu December 12, 2013
Business and the Economy

More Local Produce Coming to the University of Pikeville

Credit surfky.com

The University of Pikeville is the latest school to join the Kentucky Department of Agriculture's Farm to Campus Program. The initiative will aim to put more farm-fresh Kentucky Proud products in the eastern Kentucky school's food service system. Another goal is to put more shelf-stable Kentucky Proud products in the Pikeville school's bookstore.

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9:57pm

Mon December 9, 2013
Business and the Economy

Local Leaders Seek Substitutes For Coal Severance Taxes

Credit kentucky.com

The economic and social troubles of eastern Kentucky were the topic today of two conferences Monday.  In Pikeville, nearly a thousand people gathered to discuss strategies for improving the lives of mountain residents.  And in Lexington, a preview of this winter’s general assembly session included talk of coal severance funding. 

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6:19pm

Thu December 5, 2013
Business and the Economy

Record Sales Projected for Kentucky Agriculture

Credit publicbroadcasting.net

Kentucky’s agricultural industry continues strong growth.  For the second year in a row, agriculture economist Will Snell expects farm revenue to reach an all-time-high.

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3:36pm

Mon December 2, 2013
Business and the Economy

Cyber Monday Important To Small Kentucky Businesses Too

‘Cyber Monday’ is wrapping up, with many of the Commonwealth’s companies offering deep discounts to on-line shoppers.  For Kentucky-based Café Press, nearly 99% of its business is conducted via the internet.  The Louisville company started in 1999, creating specialty items, like mouse pads, coffee cups, and T-shirts.  CEO Bob Marino says his inventory is based solely on demand.

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6:15pm

Wed November 27, 2013
Business and the Economy

Sound Holiday Spending Starts With a Plan

Credit kentucky.com

Before heading into the throng of Holiday shoppers, it’s wise to have a plan.  That's the recommendation of Jennifer Doom, Public Information Officer with the Kentucky Department of Financial Institutions.  Doom suggests mapping out a gift buying budget and strategy for the entire month of December.

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