business

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Florida Governor Rick Scott will visit Kentucky this month in an effort to recruit businesses to relocate or expand to Florida. 

About two years ago, Scott tried something similar. He sent letters to businesses in Kentucky inviting them to the Sunshine State. 

At the time, Gov. Steve Beshear called the letters a “crude method of recruitment.”

Kenny Colston with the left-leaning Kentucky Center for Economic Policy agrees. 

"Right to work laws don’t grow jobs," said Colston. "Not in manufacturing. Not in other sectors."

Colston disagrees with Scott’s main pitch to companies that Florida has a better business climate because it’s a Right to Work state.  Colston says he thinks the trip is a political stunt.

“You know this is attention seeking for one reason of the other," said Colston. "I don’t know the governor and I don’t know why he is coming here, but I know the last time he came here he got a pretty strong rebuke from our governor, Steve Beshear.”

Beshear doesn’t have nice things to say about Rick Scott’s latest recruitment effort, either. In a statement, he said Scott’s trip will be waste of time.

In what could prove the largest-ever merger in the insurance industry, Aetna has announced a $37 billion deal to acquire rival Humana.

The agreement, announced by the Hartford, Conn.-based Aetna, "would bolster Aetna's presence in the state- and federally funded Medicaid program and Tricare coverage for military personnel and their families," according to The Associated Press.

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A business research magazine has released its annual list of the Best and Worst states as favored by business executives, ranking Tennessee at number 4.  

“Chief Executive” surveyed over 500 leading CEOs across the country making measuring in three categories: tax and regulation, workforce quality, and living environment. That last category includes education, cost of living, affordable housing and crime rates. 

Texas took the top spot, followed by Florida, North Carolina and Tennessee, which was in the number 3 spot last year. 

CEOs say they picked the Volunteer state for its low taxes and Right-to-Work status calling it a hotbed for automotive manufacturers. 

Kentucky ranked in at 28 with CEOs noting a high-value living environment, but concern about tax and strong regulatory policies. 

Illinois maintained its rank amongst the worst states at number 48.  

See a full-listing of Chief Executive rankings here

Angel's Envy

International spirits company Bacardi Limited has made its entry into the booming bourbon market with the purchase, announced today, of a Louisville-based bourbon maker.

Bacardi is the new owner of Angel’s Share Brands. The company includes the popular Angel’s Envy bourbon, developed by the late Lincoln Henderson and his family. Henderson was a longtime master distiller for Brown-Forman Corporation.

Angel’s Envy is currently distilled off-site and aged in port wine barrels.

This past January, the Republican-led Kentucky Senate did what it does just about every year: It passed a statewide right-to-work bill.

Keeping with tradition, when the bill arrived at the Democratic-controlled House, it died.

For decades, Democrats have rejected efforts to allow employees in unionized companies the freedom to choose whether to join a union.

Now, the battle has shifted from the statehouse to individual counties.

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Louisville is one of 21 communities across the U.S. committing to increasing access to high tech jobs, city officials said Monday.

The city’s effort is part of a larger federal initiative announced Monday aimed at getting Americans to fill the increasing number of vacant information technology jobs in the U.S.

Employers around the country are having a hard time finding qualified and skilled workers for these positions. The national initiative, announced by President Obama, aims to get communities to train people for those jobs.

During a conference call with the White House, Louisville Mayor Greg Fischer was identified as one of the community leaders working with employers and the federal government to extend training opportunities to residents.

The next President and CEO of the Greater Owensboro Chamber of Commerce won’t have to go far to begin her new job.

The chamber announced Thursday that Candance Brake will lead the organization beginning March 16.

Brake was most recently Executive Director of the Green River Area Community Foundation in Owensboro, which shares a building with the Chamber of Commerce.  She served as an Owensboro City Commissioner from 2004 until 2010, and was previously an executive vice-president of the chamber.

Brake earned her bachelor’s degree from Brescia University in Owensboro, and has a Masters of Public Administration from WKU.

A Japanese corporation is planning a $15 million expansion at its manufacturing site in Bowling Green.

NHK of America Suspension Components Incorporated (NASCO) is adding a new building next to its existing facility in Warren County. The new location will manufacture automotive suspension coil springs, and is expected to be completed within two years.

NASCO employs 280 people, and its  Japanese parent company owns another operation in Warren County (Topura America Fastener), Franklin (New Mather Materials), and Louisville (NHK Spring Precision of America). In all, NHK International Corporation employs about 1,000 Kentucky workers.

U.S. Dept. of Agriculture (Flickr Creative Commons)

A new partnership between WKU and EKU will make it easier for workers in the Bowling Green and Owensboro areas to receive OSHA certification.

EKU houses the only OSHA Training Institute Education Center in Kentucky. But under an agreement between the two schools, EKU personnel will lead OSHA training courses at the Knicely Conference Center in Bowling Green, and at the WKU-Owensboro campus.

Dr. Sue Parrigin, with WKU’s Career and Workforce Development office, says the idea is to expand the number of individuals in the region who can lead OSHA training classes.

“OSHA has what’s called a 10-hour and a 30-hour card, and these trainers will be prepared to go into business and industry and train employees in order to receive their 10 and 30-hour certification with OSHA.”

During 2013-14, EKU’s OSHA Training Center enrolled more than 1,800 students in classes taught in Richmond and Louisville. EKU authorized outreach trainers led 820 classes for more than 9,000 10 and 30-hour OSHA certification.

Flickr/Creative Commons

The Bluegrass State has seen another record-setting year for exports.

Kentucky shipped $27.5 billion worth of goods to other countries in 2014, the fourth straight year the state broke its previous mark.

Joe Hall, with the Kentucky Cabinet for Economic Development, says many people would be surprised to know that the state’s leading export category isn’t auto parts or bourbon, but aerospace products.

“Our aerospace products are really diverse,” he said. “We have companies that are making parts for jet engines. We have companies that are making small satellites that are orbiting earth as we speak.”

Kentucky exported nearly $8 billion worth of aerospace parts and products last year—a 38 percent increase over 2013.

The commonwealth’s number one export destination remains Canada, followed by Mexico and the United Kingdom. Kentucky exports to France jumped by 93 percent last year.

Kentucky’s Top Five Export Markets in 2014:

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