Business and the Economy

4:59pm

Tue July 24, 2012
Business and the Economy

Madison-Jessamine Connector Study Continues

A highway making the trip from Jessamine County to interstate 75 a shorter, straighter route could bolster economic development in the Nicholasville area.   The transportation proposal under review would link Jessamine County to Madison County at Interstate 75.   Jessamine County Chamber of Commerce Director, Amy Cloud says little residential and commercial development is currently found east of Nicholasville.

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11:18am

Sun July 22, 2012
Business and the Economy

Kentucky Horse Park Hopes New Plan Brings Success

Charlotte Gadbois cleared a fence during the Adequan FEI North American Junior and Young Rider Championships at Kentucky Horse Park on Saturday.
Matt Goins/Lexington Herald-Leader

As a competitive venue, the Kentucky Horse Park has it all — except a way to break even financially. Despite the 2010 World Equestrian Games, which brought $85 million in construction projects to the park, officials had to ask the General Assembly for an extra $3.5 million to balance the budget for the 2012 fiscal year. Legislators were less than pleased and asked for a business plan that showed a road to self-sufficiency.

2:36pm

Thu July 19, 2012
Business and the Economy

Kentucky Unemployment Rate Stays Flat

The latest numbers show Kentucky's unemployment rate staying flat from May to June. The Office of Employment and Training says the jobs rate remained at 8.2 percent, which matches the national jobless figure. This ends a long trend of monthly declines in the unemployment rate. The rate was 8.8 at the beginning of this year, and 9.6 in June of last year.

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2:34pm

Thu July 19, 2012
Business and the Economy

UPS Plans Bid on Large USPS Contract

UPS officials say it could be good news for the company’s Louisville Worldport hub if UPS wins a contract with the United States Postal Service next year. The USPS has had a contract with FedEx to transport certain mail since 2000, but officials announced earlier this year that USPS intends on opening the contract up for bidding.  The contract is worth nearly $1 billion annually.

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2:31pm

Thu July 19, 2012
Business and the Economy

Ford Recalls Escapes for Possible Fires

Ford Motor Company has announced the second major recall this week of the 2013 Escape SUVs. Ford officials are telling owners of the new Escape not to drive the vehicle until dealers can fix a fuel line that may crack and cause engine fires. There has only been one such incident with a customer and no injuries were reported.

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4:36pm

Wed July 18, 2012
Business and the Economy

As Wars Wind Down, Depot Left Without Work

Depot storage and distribution center for chemical and conventional munitions.

The Blue Grass Army Depot is preparing for further troop reductions, which has Kentucky lawmakers and business leaders in the region worried. WEKU Correspondent Matt Laslo reports from Washington.

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8:40am

Wed July 18, 2012
Business and the Economy

Kentucky Chamber Increasingly Conservative

The Kentucky Chamber of Commerce is taking a firmer stand on conservative issues. Republican legislators have criticized the chamber in the past for supporting Democratic-led proposals like expanded gambling and a higher dropout age while staying quiet on so-called right to work and prevailing wage laws.

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5:54pm

Mon July 16, 2012
Business and the Economy

Jobs & Economy on this week's Kentucky Tonight

On this week's edition of Kentucky Tonight, host Bill Goodman and guests will discuss jobs and the economy.  The program that airs "live" Monday evening at 8:00 on KET, repeats Tuesday morning at 11:00 on 88.9 WEKU and our network of stations in Central and Southeastern Kentucky.

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12:00am

Mon July 16, 2012
Business and the Economy

Corn Status in the State's Number One Producer

When it comes to rainfall, it may be a case of ‘too little-too late’ for Kentucky’s corn growers. This summer’s drought hit western Kentucky corn fields first and hard.  In Union County, which is the leading corn producer in the Commonwealth, Extension Agent Rankin Powell says soils are very deep and hold water well.  It gives Powell reason for hope, but he still worries, any improvement in this year’s corn crop is unlikely.

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5:56am

Thu July 12, 2012
Business and the Economy

Streamlining Drought Assistance Process

Federal changes in disaster designation procedures could benefit drought stricken farmers across Kentucky.  Governor Beshear says he applauds U.S. Agriculture Secretary Tom Vilsack’s work to speed up the process.  The Ag secretary says the process for disaster declarations will be simplified and cut the processing time nearly in half for most counties.

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6:27am

Mon July 9, 2012
Business and the Economy

More Business Reports Still Due in Frankfort

 Kentucky’s Secretary of State has issued a good news-bad news report on business filings.  Some 192 thousand entities across Kentucky are required to file annual reports.  More than 155 thousand met the recent deadline.  That’s a higher percentage than usual.  But, almost 37 thousand businesses failed to file in a timely manner.

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6:46am

Wed July 4, 2012
Business and the Economy

Kentucky Brewers Team Up

SilkTork Wikimedia Commons

A group of Kentucky beer brewers have joined together to give themselves a louder voice in state matters. The Kentucky Guild of Brewers is made up of nine local breweries from Louisville, Lexington and Danville. In a statement, the guild says its purpose is in part "to act as a singular voice and advocate for the Kentucky brewing industry in all pertinent matters of legislation and governmental administration." 

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3:56pm

Mon July 2, 2012
Business and the Economy

Beshear Signs Auto Industry Bill

FRANKFORT – Gov. Steve Beshear Monday signed into law a bill designed to spur job creation and significant investments in Kentucky’s automotive and parts manufacturing facilities. “This legislation will open doors for significant investments in the automotive industry, which plays a vital role in Kentucky’s economy, employing more than 68,000 people in the Commonwealth,” Beshear said in a statement issued by his office. “The success of the industry and the investments that result from this legislation will have far-reaching economic effects throughout all of Kentucky.”

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12:41pm

Fri June 29, 2012
Business and the Economy

700 Jobs Coming to Northern Kentucky

Word today of a new e-commerce center in Boone County which is bringing 696 full time jobs to the northern Kentucky region.  Elovation Services’ move amounts to a 13 point seven million dollar investment in the commonwealth.  The firm will lease a 150 thousand square foot facility in Boone County to serve as its parcel grading and processing center for e-commerce.

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12:39pm

Fri June 29, 2012
Business and the Economy

Racing Fans Bracing for the Heat

Traffic congestion created some serious problems for last year’s inaugural NASCAR Sprint Cup Series at Kentucky Speedway.  This year’s event may be remembered for the high heat along with the competition.  The racing is scheduled in the evening, but qualifying does take place during the day.  Spokesman Tim Bray says visitors to the track can find shade on site.  “We are practicing and qualifying during the day…so we encourage fans to hydrate, hydrate, hydrate…and in addition to that…there are places underneath the grandstands and Kentucky tower and the Ohio tower so they can get out of the heat,” said Bray.

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9:53am

Fri June 29, 2012
Business and the Economy

Lexington's Trader Joe's Opens Friday

After years of hopes followed by months of anticipation, Trader Joe's opened a Lexington store at 8 a.m. Friday. The gourmet grocery, on Nicholasville Road, is expected to be wildly popular, and those unfamiliar are in for a unique shopping trip, industry observers say. "Walking into a Trader Joe's is an experience, ... because you don't know what you're going to come across," said Mark Mallinger, a Pepperdine University professor who has followed the privately held company for years. "New products come and go.

12:18pm

Mon June 25, 2012
Business and the Economy

Credit Card 'Cloning' on the Rise

Lexington financial crimes detective Gene Haynes swiped a credit card through an innocuous black card reader known as a "skimmer." Less than a second later, two lines of illuminating text showed up in a Microsoft Word document on his computer screen. The mishmash of numbers and symbols was the visual representation of all the information stored on the card's magnetic strip. "That's all it takes" for a credit card to be compromised, he said.

8:19pm

Thu June 21, 2012
Business and the Economy

Arch Coal Lays Off 500 Kentucky Miners

UPDATED: More than 500 Kentucky miners in several counties, and an additional 250 at a mine in West Virginia, are being laid off by Arch Coal. Arch Coal is expected to issue a statement later Thursday, said Bill Bissett, Kentucky Coal Association president.

8:14pm

Thu June 21, 2012
Business and the Economy

107 Counties See Lower Jobless Rates

FRANKFORT — Unemployment rates fell in 107 Kentucky counties between May 2011 and May 2012, while 12 county rates increased and one stayed the same, according to the Kentucky Office of Employment and Training. Woodford County recorded the lowest jobless rate in the Commonwealth at 5.3 percent. It was followed by Hancock County, 5.5 percent; Shelby County, 6.1 percent; Fayette County, 6.2 percent; Union County, 6.3 percent; Daviess and Oldham counties, 6.5 percent each; Calloway and Franklin counties, 6.6 percent each; and Ohio County, 6.7 percent, according to a state news release.

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11:18am

Tue June 19, 2012
Business and the Economy

Companies Express Interest in Kentucky Kingdom

Just a day after the family that owns and operates the Holiday World amusement park at Santa Claus, Ind. said they were withdrawing from their plans to reopen the now-closed Kentucky Kingdom park in Louisville, two other amusement park companies have expressed interest in reopening the park.

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9:16am

Tue June 19, 2012
Business and the Economy

Health Departments Make Cuts

Reduced hours and staff will be the new reality for many health departments across Kentucky starting in July as they deal with funding shortages and changes. Though the total amount of state funding to local health departments has not gone down, the way it is allocated has changed.

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9:53am

Mon June 18, 2012
Business and the Economy

Franklin County Health Workers Face Furlough Days

To ease budget cuts, Franklin County Health Department employees will have to take 12 furlough days next year, director Paula Alexander announced Friday. “Yes, that is considerable,” Alexander said after the news was met with a collective gasp at Friday’s Fiscal Court meeting. “That is little over a paycheck.”

9:59am

Sun June 17, 2012
Business and the Economy

Bowling Green Auto Supplier to Expand, Add Jobs

KIRIU USA is now making 3.6 million brake rotors a year, something which is forcing the Bowling Green auto-industry supplier to expand. So the company will spend about $10 million to bring in new equipment for two new production lines and to add onto its existing building, according to company President and CEO Mark Kimura.

9:55am

Sun June 17, 2012
Business and the Economy

State Launches Initiative to Hire Veterans

FRANKFORT – Gov. Steve Beshear Friday announced a statewide effort to connect returning members of the National Guard, Reserve and other veterans with job openings in Kentucky. Joined by military, veteran, workforce and business leaders at the annual state convention of Disabled American Veterans, Beshear unveiled the Hiring Kentucky Heroes partnership and web resource that will bring together veterans seeking jobs with employers needing workers.

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9:53am

Sun June 17, 2012
Business and the Economy

Bluegrass Boardwalk Withdraws Proposal

After nine months of planning, Bluegrass Boardwalk, Inc. has withdrawn its proposal to re-open the Kentucky Kindgom theme park. According to a release, Bluegrass Boardwalk owners the Koch family—who also own Holiday World in southern Indiana—say leasing the park from the state would not fit in their business model. Further, CEO Natalie Koch cites "the many layers of governmental regulations and stipulations" as a reason for withdrawing.

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4:37pm

Thu June 14, 2012
Business and the Economy

Gas Price Fluctuation Town to Town

Motorists across Kentucky are keen to the fact that when it comes to predicting gasoline prices, it is far from an exact science.  It’s not unusual to find pump prices in one town 20 to 30 cents lower than in a community less than a half hour away.  Petroleum Anaylst Patrick DeHaan  with Gas Buddy dot com says sometimes several stations are owned by one retailer.  “Sometimes we find these wild swings where some communities have raised their price to follow the leader and in areas where there is no leader prices might not necessarily rise that much,” said DeHaan.

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3:10pm

Wed June 13, 2012
Business and the Economy

Changes in Kentucky's Dairy Industry

The decline in the number of dairy farms continues in Kentucky.  A decade ago, State Dairy Marketing Specialist Eunice Schlappi says the Commonwealth had about two thousand dairy farms.  Schlappi says that number is down to about 850 today.  “Much of that is due to the fluctuation of milk prices..the higher cost of inputs…and also the next generation not wanting to stay on the farm because of the hours involved..the returns,” said Schlappi.

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3:08pm

Wed June 13, 2012
Business and the Economy

Water Rates and Conservation in Lexington

As Kentucky American Water expands its business, there should be little impact on customers in Lexington.  But, by serving new communities, company president Cheryl Norton thinks they can better hold prices steady.  “It’s unlikely that they would go down..what we would hope to do is stabilize the rates..because we continue to invest 20 to 25 million dollars each year in renewing the infrastructure that’s already in the ground..so there’s a continual investment which drives additional rates,” said Norton.

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9:07pm

Tue June 12, 2012
Business and the Economy

Bardstown Manufacturer to Add Jobs

FRANKFORT – American Fuji Seal will expand operations in Bardstown, creating new 45 jobs and making a $10 million investment at its plant. “Here’s another shining example of a Japanese-owned business that has found success by locating its North American headquarters in Kentucky,” Gov. Steve Beshear said in a news release from his office. “We’re thrilled to see American Fuji Seal succeed, expand its footprint in the Commonwealth, invest millions of dollars here and create dozens of full-time jobs for Kentuckians.”

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8:58pm

Tue June 12, 2012
Business and the Economy

Magazine Recognizes Kentucky's Economic Development

FRANKFORT – Gov. Steve Beshear Tuesday announced Area Development magazine has recognized Kentucky with a Silver Shovel Award, acknowledging states which were the most successful in creating jobs and securing investments in new and expanding facilities in 2011.

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