Business

Internet Sales Tax Bill Could Restore Some State Budget Cuts, Kentucky Group Says

Kenny Colston — Thu, 23 May 2013 20:03:04 +0000

Your online purchases could alleviate some of Kentucky's budget woes.

The federal legislation that allows states to collect sales taxes from more online retailers would benefit the Kentucky state budget, argues a policy group focused on economic policy.

If such legislation passed, Kentucky could gain $130 million to $200 million in revenue per year, the state's Blue Ribbon Tax Commission has estimated.

That sort of money could lead to a restoration to programs that have recently been cut, including the child care subsidy for low-incoming, working families, says Jason Bailey, director of the Kentucky Center for Economic Policy.

The new revenue wouldn't be a miracle fix for the state budget, Bailey says, but it could reverse some serious cuts made the last few years.

Coalition Forms to Oppose Electricity Rate Increase in Northwestern Kentucky from Smelter Deal

Kenny Colston — Fri, 17 May 2013 15:53:43 +0000

A coalition of western Kentucky businesses and residents has formed in hopes of minimizing the fallout of an electricity rates deal between Big Rivers Electric Co-Op and western Kentucky aluminum smelters.

The coalition is worried the deal will lead to higher utility bills for residents and businesses.

Aluminum prices have been low in the past few years, and across Kentucky, aluminum smelters have sought to save money on their electricity bills.

Earlier this year, Big Rivers cut a deal with two Western Kentucky smelters, allowing them to buy their electricity on the open market. The smelters said the change was necessary to stay in business, but the deal cost the electric company more than half of its customer base.

To make up for that, Big Rivers is asking the Kentucky Public Service Commission to approve a 30 percent rate increase for its remaining customers.

Kobe to Add 100 New Jobs to Warren County Facility in $66 Million Expansion

WKU Public Radio News — Wed, 15 May 2013 20:12:05 +0000

Kentucky Gov. Steve Beshear Wednesday announced a $66 million expansion at Kobe Aluminum Automotive Products in Warren County.

The move includes 100 new full-time jobs and an additional 87,000 square feet at the plant outside Bowling Green, where employees build aluminum suspension products for the automotive industry.

Bowling Green Mayor Bruce Wilkerson said Kobe's announcement is a shot in the arm for the region.

"Kobe has been a great corporate citizen for the past eight years, and we look forward to continuing this relationship long into the future," said Wilkerson. "We congratulate them on their decision to expand here again and send well wishes for their continued growth."

Kobe first opened its Warren County facility in 2005, and currently employs 270 full-time workers.

Glass Door Maker Opening Facility in Todd County, Adding 100 Jobs

Associated Press — Tue, 14 May 2013 17:14:29 +0000

A company that makes glass doors will create 100 full-time jobs when it opens its manufacturing plant in western Kentucky.

Glass Door Solutions LLC is a new company that plans to lease a facility in Elkton in Todd County with an investment of $3.5 million.

The state has given preliminary approval to tax incentives of up to $1.95 million for the project.

Gov. Steve Beshear helped announce the plan on Monday.

Beshear's office said Glass Door Solutions will make glass doors for display cases in grocery and convenience stores.

Distillery in Louisville Latest Member of Kentucky Bourbon Trail

Associated Press — Thu, 09 May 2013 19:28:34 +0000

The Kentucky Bourbon Trail is expanding to include a small distillery that's tucked in the shadows of skyscrapers in downtown Louisville.

Heaven Hill Distilleries' new distillery will become the eighth stop on the popular tourist attraction that has drawn more than 2.5 million visitors in the past five years.

Mayor Greg Fischer said Thursday that bringing the Bourbon Trail to Louisville will enhance the city's bourbon tourism efforts.

The Kentucky Bourbon Trail takes visitors to several rural and rustic settings to visit the places where iconic bourbons such as Maker's Mark, Wild Turkey, and Woodford Reserve are crafted.

Kentucky is home to 95 percent of the world's bourbon production.