Business and the Economy

9:46am

Tue May 14, 2013
Business and the Economy

Door Manufacturer to open in Todd, creates 110 jobs

ELKTON – Local, state and company officials in gathered in Elkton Monday to announce Glass Door Solutions LLC, a newly formed company, plans to lease a facility, create 110 new, full-time jobs and invest more than $3.5 million.

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9:18am

Tue May 7, 2013
Business and the Economy

Tourism's Economic Impact Amounts to $12.2 Billion in Kentucky for 2012

FRANKFORT – The economic impact of tourism in Kentucky amounted to more than $12.2 billion in 2012, Gov. Steve Beshear and Tourism, Arts and Heritage Secretary Marcheta Sparrow announced Monday. The economic impact figure is a 4.4 percent increase from 2011.

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1:35pm

Mon May 6, 2013
Business and the Economy

Lexington Food Truck Debate Goes On

By early summer, an increased number of food trucks could be noticeable in downtown Lexington.  But, their impact on the food scene remains uncertain.  After much wrangling, a panel created by the city last week made recommendations.  For the first time, they would allow food trucks in some metered parking spots during dayight.  After ten p-m until three in the morning, the vendors could set up shop in any downtown, public metered area.  There are other restrictions.  The food trucks couldn’t operate within 100 feet of a residential area, and could occupy not more than half of the available metered spots.

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1:31pm

Mon May 6, 2013
Business and the Economy

Kentucky Bred Horses Continue to Make a Run

The Kentucky Derby victory by  ‘Orb’ represents yet another feather in the Commonwealth’s horse breeding hat.  The central Kentucky Thoroughbred, which ran down several horses in the stretch at Churchill Downs, is expected to compete in the Preakness on May 18th.  Kentucky Thoroughbred Association Director David Switzer says Bluegrass bred horses are on quite a run.  “The past 22 triple crown races have been won by a Kentucky bred.  It was 21 going into Saturday and Orb being a Kentucky bred made it 22.  We are hoping for 23 and 24 with this horse coming up yet,” said Switzer.

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9:19am

Thu May 2, 2013
Business and the Economy

Put on Your Derby Hat

Milliner Fielden Willmott in her shop with her hats
Credit Stu Johnson / Weku News

The Kentucky Derby is known for a lot of things.  It’s the “Fastest Two Minutes in Sports,” “Millionaires’ Row,” and mint juleps.  Then there are the Derby fashions.  A major part of the derby tradition lies in the heads of women attending the races.   It’s also a busy time of year for a Lexington artisan.

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4:40pm

Wed May 1, 2013
Business and the Economy

Trucks Rolling Through Kentucky

Nicer weather has a few more truckers travelling Kentucky’s interstates.  Overall, the trucking industry remains flat, but the head of the Kentucky Motor Transportation Association says recent figures are promising.  Jamie Fiepke says trucking tends to decline in November and pick up in March.  “From that point forward, that’s when you really start seeing the industry pick up, especially in a good economy, you’ll see it really take off and you’ll see truck everywhere.  And you’re gonna see more and more trucks,” said Fiepke.

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11:33am

Tue April 30, 2013
Business and the Economy

Bourbon Production in Kentucky Tops One Million Barrels in 2012

Credit Creative Commons

For the first time since 1973, Kentucky's bourbon distillers produced more than 1 million barrels in 2012, the Kentucky Distillers' Association announced Monday. In 2012, 1,007,703 barrels were filled, topping the 1973 total of 1,004,877, the association said. "This is an incredible milestone that's been 40 years in the making," said Eric Gregory, president of the distillers group, which promotes and lobbies on behalf of the bourbon industry.

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2:34pm

Mon April 29, 2013
Business and the Economy

Maysville Distillery Releases its First Whiskey in 70 years

Old Pogue's Five Fathers Pure Malt Rye Whiskey will be released in Maysville on May 1.

Officials with The Old Pogue Distillery announced Friday the release of the first barrel aged whiskey distilled in Maysville in more than 70 years. The limited quantity brown spirit will be available only at The Old Pogue Distillery in Maysville beginning Wednesday.

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12:56pm

Mon April 29, 2013
Business and the Economy

Kentucky Hopes to Keep Bourbon Flowing with Tax Credits

A bourbon distillery and event center is under construction at the Party Source in Bellevue.
Credit Patrick Reddy/The Kentucky Enquirer file photo

The growing popularity of bourbon has sparked big dreams along the Ohio River and among the state’s leaders in Frankfort. An idea that began when Ken Lewis saw a surge in bourbon sales at his Party Source liquor store in Bellevue has taken shape with the stainless steel fermentation tanks now standing in front of his store on Ky. 8. Gov. Steve Beshear and other Kentucky leaders hope to help Lewis and Kentucky’s other 16 distilleries with tax credits and promotion to foster Kentucky’s signature liquor industry.

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5:05pm

Thu April 25, 2013
Business and the Economy

Kentucky Nonprofits Raise $300,000 in Online Giving Campaign

The Kentucky Nonprofit Network staged its first Kentucky Gives Day this week, raising $330,000 for 380 nonprofit organizations in one 24-hour online campaign on April 24. The Network supplied each organization with digital campaign tools and a page on the Kentucky Gives Day Razoo site, the giving platform that received donations on behalf of the organizations.

1:54pm

Tue April 23, 2013
Business and the Economy

Federal Spending Cuts Reduce Services at Mammoth Cave

Credit Creative Commons

Despite cutbacks at Mammoth Cave National Park, there still are plenty of opportunities for the more than 500,000 people who visit the park annually. “Except for our heaviest days, most people will be able to get a cave tour,” park Superintendent Sarah Craighead told a group Monday. As part of complying with federal automatic spending cuts, the park did, at least for now, eliminate the Grand Avenue and Snowball tours, but that still leaves nine other tours.

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1:18pm

Sun April 21, 2013
Business and the Economy

Toyota Expansion Could Boost Automotive Industry in Kentucky

Following recent expansions at Ford in Louisville and the General Motors Bowling Green Assembly Plant, an announcement of Toyota’s expansion further augments the automotive industry’s place in providing Kentuckians with jobs. Toyota’s $360 million expansion to build the Lexus ES 350 will mean 750 jobs for the Georgetown plant but will have ripple effects in the automotive supply industry that could touch southcentral Kentucky. Toyota will spend an additional $171 million to refurbish other parts of the plant.

2:53pm

Fri April 19, 2013
Business and the Economy

Lexus Production Coming to Georgetown

Credit Creative Commons

For the first time, a Lexus vehicle will be produced in the United States and it will be made at the Georgetown Toyota plant.  The formal announcement came this morning from officials in New York and Scott County.  Governor Beshear says it means 750 new Kentucky jobs at Toyota.  “We realize the care and the pride that you take in that vehicle and that it requires the utmost in a skilled workforce, not to mention top quality components.  Your confidence in the quality of Kentucky’s workers, especially our team here in Georgetown is appreciated and well placed,” said Beshear.

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10:14am

Fri April 19, 2013
Business and the Economy

Toyota to Build Lexus ES in Georgetown

The 2013 Lexus ES 350
Credit Dewhurst Photography

Toyota executives and state officials announced Friday morning that the automaker’s flagship North American plant in Georgetown will begin building the Lexus ES 350 luxury sedan in 2015. It will be the first Lexus model to be manufactured in the United States. The project is expected to add 750 jobs, which will include temporary and contract workers. State documents suggest 570 of the 750 new jobs will be full-time employees.

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4:03pm

Thu April 18, 2013
Business and the Economy

Nonprofit Kentucky Space Launches Program to Assist Businesses

Kentucky Space, a nonprofit focused on space research and education, has announced plans for a program to assist businesses with similar goals. Called Space Tango, the program will see investments in as many as six companies from across the country. Among the resources offered are technical and ground operations centers at the Morehead State University Space Science Center and the University of Kentucky Space Systems Laboratory. Kentucky Space also offers the ability to work with various NASA sites.

12:47pm

Thu April 18, 2013
Business and the Economy

Toyota Plans Georgetown Expansion

Credit Creative Commons

Toyota is planning an ambitious new project for its flagship Georgetown plant that might see it producing a new vehicle and adding 750 jobs. The news came Wednesday when the Kentucky Economic Development Finance Authority gave preliminary approval to $146.5 million in tax incentives for the project, which is shrouded in mystery. Katie Smith of the state's Cabinet for Economic Development told the KEDFA board that the project is a vehicle model that is new to the plant, which would produce 50,000 of them annually beginning in fall 2015. She declined to name the vehicle model.

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1:43pm

Wed April 17, 2013
Business and the Economy

Kentucky Support for Immigration Reform

Credit Wikipedia Commons

Kentuckians concerned with agriculture, business and education spoke out in favor of the latest federal immigration proposal during a phone conference organized by the Partnership for a New American Economy. The immigration proposal is being considered in the U.S. Senate, thanks to a compromise by a group of eight senators from both political parties.  The plan would create a 13-year path to citizens, expand work visas and attempts to tighten border security.

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12:14pm

Mon April 15, 2013
Business and the Economy

74 Layed off at Depot, 108 more Likely

Weapons storage igloos at Bluegrass Army Depot, near Richmond.

Layoffs were announced today at the Bluegrass Army Depot near Richmond.  Within a few months, at least 74 workers will lose their jobs, but another hundred are likely.  In a sense, Colonel Brian Rogers is returning his command to a peace time footing.  As America’s military commitment to Iraq and Afghanistan has shrunk, so has its need for munitions.   The combat veteran says laying off workers is the hardest thing he’s ever done.

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4:58pm

Wed April 10, 2013
Business and the Economy

Agency Approves $10-Million in Sales Tax Incentives for Kentucky Kingdom

Credit File Photo

The group working to re-open the Kentucky Kingdom amusement park has gotten $10-million in sales tax credits from the Kentucky Tourism Development Finance Authority. The Kentucky Kingdom Redevelopment Company will release details of their plans for the park, including information on refurbished and new rides.

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12:00am

Mon April 8, 2013
Business and the Economy

Cleveland Label Joins Spirited Race For “Quickie Whiskeys”

A close-up of the Cleveland Whiskey label. It debuted in early March across Northeast Ohio
Credit Brian Bull)

On a recent Friday night, Clevelanders squeeze shoulder-to-shoulder inside the Market Garden Brewery and Distillery. They’re here for the launch party of Cleveland Whiskey.  It’s available straight on the rocks, or in a number of cocktails.  Sam McNulty is Market Garden’s proprietor. “People are loving it.  The only problem is, we’re running out of it right now.  So we’re running to the store and getting some more.”

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2:19pm

Sun April 7, 2013
Business and the Economy

Convergys Corp. to Fill 400 Jobs

At its first job fair in nearly a year, Convergys Corp. saw 40 to 50 applicants file through the doors of its Erlanger call site during the first hour of the event Thursday afternoon. About 400 full and part-time customer service advocate jobs are available at its Erlanger call center site.

12:58pm

Thu April 4, 2013
Business and the Economy

Eastern Kentucky Coal Production Hits Lowest Level Since 1965

Credit Decumanus / Wikimedia Commons

New data from the Kentucky Energy and Environment Cabinet shows that coal production is down in Eastern Kentucky from previous years, and the region’s workforce is suffering. Coal production dropped more than 27 percent from 2011 to 2012 in Eastern Kentucky. This is the lowest production has been in the region since 1965. And as expected, coal mine employment fell in Eastern Kentucky too, by nearly 30 percent from the 2011 levels.

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2:37pm

Tue April 2, 2013
Business and the Economy

Maker's Mark Charity Bottle to Honor UK Basketball Great Dan Issel

Keeneland and Maker's Mark announced Monday that the latest signature charity bottle will honor University of Kentucky basketball great and Hall of Famer Dan Issel. Proceeds, estimated to be about $175,000, from the bottle will benefit the Gill Heart Institute at UK HealthCare. An all-American his senior year, Issel played for UK from 1967 to 1970 and remains the all-time leading scorer in men's basketball.

12:26pm

Mon April 1, 2013
Business and the Economy

More Consumers Travel for "Locally-Grown" Produce

Summertime customers inspect produce offered by Berea College Farm.
Credit Berea College Farm.

Three roadside markets in Madison County have been added to a list created by the Kentucky Farm Bureau.   The Farm Bureau program helps consumers find roadside stands that offer fresh produce and good customer service.  Kentucky Farm Bureau President Mark Haney runs such a retail outlet.

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1:37pm

Wed March 20, 2013
Business and the Economy

Off Road Park Expansion

Off-road parks are expanding into a new region of Kentucky.  The privately-owned “Rush Off-Road Park” is situated just outside Ashland.  The seven-thousand acre facility opens April 20th.  Besides traditional off-road vehicles, Kentucky Adventure Tourism Assistant Director Seth Wheat says such parks also accommodate more recent designs.   “And then, they also have trails that can accommodate your newer style side by side vehicles like Polaris Rangers and things of that sort.  They’ve got trails for jeeps and four by four trucks that have been modified and customized to climbs rocks and climb hills,” said Wheat.

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1:44pm

Tue March 19, 2013
Business and the Economy

Kentucky Native Purchases Lonely Planet Travel Guide Company

Credit Shutterstock.com

A billionaire Kentucky native is buying the travel guide publisher Lonely Planet for $77.3 million. Lonely Planet's current owner—British broadcaster BBC Worldwide—announced on Tuesday the sale to NC2 Media, which is run by Daniel Houghton, a Western Kentucky University alum. He'll become Lonely Planet's chief operating officer, pending approval of the sale by the BBC Trust.

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12:34pm

Thu March 14, 2013
Business and the Economy

Amazon's Winchester Center Listed Among Top Development Projects

Amazon’s decision to build a customer service center in Winchester earned an award from a national magazine for investment and community impact. Trade & Industry Development magazine listed Amazon, General Electric in Louisville and Berry Plastics in Madisonville among the nation’s top 30 economic development projects from 2012 and winners of the magazine’s Corporate Investment & Community Impact Awards.

10:17am

Mon March 11, 2013
Business and the Economy

Ark Park Construction to Start This Year

Michael Zovath, senior vice president and co-founder of the Ark Encounter, in the collection room of Answers in Genesis with animals whose ancestors he said would have been on Noah's Ark. The company plans to build 510-foot-long replica of Noah's Ark on a site in Grant County. The project is being planned by Answers in Genesis, the organization that built the Creation Museum in Boone County.
Credit Patrick Reddy/The Kentucky Enquirer file photo

Developers of the Ark Encounter theme park expect to begin construction this year at its Grant County site. The attraction, which developers estimate will draw 1.6 million visitors the first year, is envisioned as a full-scale wooden ark that would ultimately include museums, theaters, amenities, event venues and outdoor parking.

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12:27pm

Tue March 5, 2013
Business and the Economy

Magazine Ranks Kentucky 10th in Nation for Industry Activity

FRANKFORT – Site Selection magazine’s annual Governor’s Cup rankings have placed Kentucky 10th in the nation for new and expanded industry activity in 2012. In 2012, Kentucky announced 354 location or expansion projects, resulting in 14,075 projected new full-time jobs and a capital investment estimated at nearly $2.7 billion.

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5:40pm

Mon March 4, 2013
Business and the Economy

Department of Labor Announces Emergency Grant to Help Coal Miners

Credit Decumanus / Wikimedia Commons

The Department of Labor is sending more than $5 million to Eastern Kentucky to help laid-off coal miners and their families. $5,192,500, to be exact. The federal government announced the emergency grant today. In a press release, the agency said the money would go to providing re-training for miners and their spouses.

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