business

Business
5:18 am
Fri December 5, 2014

Comer Takes Aim at Economic Development Efforts

Republican James Comer says he wants to eliminate state economic development incentives for companies that fail to pay livable wages.

The GOP candidate for governor said Thursday that Kentucky's Economic Development Cabinet has made "questionable deals" that included awarding tax incentives. Comer didn't define a livable wage but said it's higher than the minimum wage.

He said the Economic Development Cabinet would draw close scrutiny if he becomes governor.

Comer, the state agriculture commissioner, made the remarks to reporters after speaking to the Kentucky Farm Bureau's annual meeting.

Comer said he plans to talk about ways to reduce poverty in Kentucky. He said he wants to attract investment into areas in dire need of more jobs. He said one way to do that is to make Kentucky a right-to-work state.

Business
5:51 pm
Wed November 5, 2014

Nearly 80 Tennessee Municipalities Approve Wine Sales in Groceries

Seventy-eight Tennessee communities OK'd a referendum this week to allow supermarkets to begin selling wine.

Seventy-eight Tennessee municipalities have passed a referendum for wine to be sold in supermarkets.

They collected enough signatures to place the referendum on the Tennessee ballot Tuesday. Final voting results show all the communities passed the measure.

Currently, wine can be sold only in liquor stores. Because of a state law passed earlier this year, wine can be sold by grocery and convenience stores starting in July 2016 in the communities where citizens vote for the change.

Supermarkets and convenience stores can sell beer containing up to 6.5 percent alcohol by volume. Anything stronger can be sold only in package stores, which, as of July 1, are able to sell items other than booze, such as beer, mixers, glasses, corkscrews, food and cigarettes.

Business
1:00 pm
Thu October 2, 2014

Leader of Kentucky Distillery Association Hints New Report to Show Major Growth in Bourbon Business

Woodford Reserve in Versailles is one of the eight members of Kentucky's Bourbon Trail.
Credit Abbey Oldham

With Kentucky’s bourbon industry continuing to expand, the head of a distiller’s association says the state could soon become “the next Napa Valley.” He also believes bourbon-related tourism could someday help economically-challenged counties in eastern Kentucky.

Every two years the University of Louisville produces an economic impact study focusing on the bourbon industry. The last study, in 2012, showed the industry was responsible for over 9,000 jobs in Kentucky, with over $125 million dollars in taxes going to state and local governments.

Speaking to CN-2 Pure Politics, Kentucky Distillery Association President Eric Gregory said the preliminary numbers he saw from the latest report were so incredible that he asked researchers to double-check their findings. Then he asked them to triple-check the numbers.

Gregory says the report will be made public soon.

He adds that he hopes someday bourbon-related tourism will stretch into Appalachia, with distilleries someday opening in the region. But first, Gregory said, counties wanting to be home to a distillery will have to vote to become “wet”, meaning that alcohol can be legally sold there.

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Business
9:21 am
Wed September 24, 2014

Aleris Announces $350 Million Expansion in Hancock County

Aleris has an aluminum rolling mill in Lewisport, Ky.
Credit Aleris

An aluminum manufacturer says it will invest $350 million to expand its facilities in Hancock County.

According to the Governor’s Office, the announcement Wednesday by Aleris Corporation is the largestsingle project investment in Kentucky in over a year. The expansion in Lewisport will include the additionof new technology that will help create parts for the automotive industry as it shifts to broader aluminum use to make lighter vehicles.

The 1.6 million-square-foot facility in Hancock County employs approximately 800 people.

Construction is set to begin this fall, and Aleris hopes to begin shipping automotive body sheet to customers by early 2017.

Business
1:23 pm
Fri August 29, 2014

Budge Industries Expanding Operations in Henderson County

An automotive parts manufacturer is expanding its operations in Henderson County.

Budge Industries creates protective covers for vehicles, and announced Friday that it will expand its 75,000 square-foot facilities and create up to 37 new jobs. The $650,000 investment by the company will allow it to add new production lines at its Henderson County operation, as well as new ultrasonic welding equipment.

The expansion was approved for $200,000 worth of tax incentives through the Kentucky Business Investment program.

12:09 pm
Thu August 21, 2014

"Bourbonism" Having Major Impact on Business, Tourism in Kentucky's Largest City

Angel's Envy, Michter's, and Evan Williams are just a few of the names highlighting Louisville's growing trade in bourbon.
The worldwide bourbon boom emanating from Kentucky has an increasingly Louisville address. At 120 N. 10th St., on the western edge of downtown, Corky Taylor is turning a former tobacco market and burlap bag factory into the Kentucky Peerless Distillery and visitor center.
Business
4:23 pm
Wed August 13, 2014

City-Run Gas Station Makes Waves In Southeastern Kentucky

Bob Thomas fills up his pickup truck at the municipal-run gas station in Somerset, Ky. There are no candy bars, 44-ounce soft drinks or lottery tickets sold. The price of gas here is $3.36 a gallon, about 20 cents lower than the statewide average.
Emil Moffatt WKYU

Originally published on Tue August 19, 2014 6:41 pm

After years of complaints about high gas prices in Somerset, Ky., the city council and mayor did something about it. Last month, Somerset began selling gasoline to the public.

"It should have been this way years ago — fair," says Bob Thomas as he fills up his green pickup truck at the municipal Somerset Fuel Center.

The price is $3.36 a gallon, lower than the statewide average.

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Business
3:20 pm
Tue July 29, 2014

Former Head of Bowling Green G.M. Plant Wants to Spread Word about State's Automotive Successes

Kentucky automotive exports topped $5 billion in 2013.
Credit Flickr/Creative Commons

A newly formed automotive organization in Kentucky wants to help the industry speak with a unified voice.

Dave Tatman is now head of the Kentucky Automotive Industry Association, following 34 years with General Motors. The former plant manager of the Bowling Green G.M. plant believes too many people are unaware of the importance the industry has on the state’s economy.

"So we've got to create that kind of brand identity for Kentucky as the place to do business for automotive businesses, not only for the ones that are here, but the ones that are considering coming here,” Tatman said. “I think North America is searching for the next automotive cluster outside of Detroit and I think we could be that."

Given the already sizeable presence in the state held by G.M., Ford, and Toyota, Tatman doubts the commonwealth will land another major automaker.

"But, I think our best opportunities exist in really, two fold, in growth of existing businesses because the automotive market continues to expand and do well throughout the globe, so growth of our existing businesses and then attracting new supplier businesses to the Commonwealth."

Kentucky ranks third nationally in light vehicle production, with the state’s automotive exports reaching a record $5.5 billion last year.

Business
11:15 am
Wed July 9, 2014

Dart Container Corp Expanding Operations in Hart County

A Hart County manufacturer is announcing plans to expand its facility and add jobs. Dart Container announced today that it will invest $23 dollars to build a new 650,000 square foot warehouse in Horse Cave.

Up to 30 new jobs are expected to be created through the expansion.

Dart Container currently employs approximately 1,400 people at its Hart County operation, where it manufactures cups, bowls, plates, and other food and beverage supplies.

The Michigan-based Dart Container Corporation has been preliminarily approved for $900,000 in state tax incentives and benefits in connection with the project.

Business
3:50 pm
Wed July 2, 2014

Construction to Begin Soon on New Aluminum Production Facility in Warren County

A new $150 million aluminum production facility in Bowling Green will create 80 new jobs.

Governor Beshear was on hand Wednesday morning at the Kentucky Transpark as ground was broken on the Japanese-European partnership. The joint venture between Contellium N.V. and UACJ Corporation will create finished aluminum body sheets for cars and trucks.

Construction on the 225,000-square-foot facility will begin this summer.

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