Business

Business
11:09 am
Tue February 12, 2013

Kentucky Metro Leaders to Draft Legislation for Local Option Sales Tax

Though the effort for a local option sales tax lacks support from principals in the General Assembly, Mayor Greg Fischer and other leaders from Kentucky's largest communities still went to Frankfort on Tuesday to push for a constitutional amendment.

Calling themselves the Metropolitan Alliance for Growth, the group is creating its own draft of legislation for a local option sales tax—but they call it LIFT, for Local Investments for Transformation.

The alliance is encouraging lawmakers to tackle pension reforms and a constitution to allow a local option tax for infrastructure projects, to be decided by voters.  The alliance—which Fischer and Lexington Mayor Jim Gray lead— is made up of local officials from the state's metro areas, including Lexington, Louisville, Bowling Green and Northern Kentucky.

Bearing in mind legislative leaders' reservation about the local option sales tax, Fischer said the alliance is on a campaign to education people.

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Business
8:48 am
Tue February 12, 2013

Former Maker's Mark Chief Says Less Potent Version Won't Affect Taste

The Chairman Emeritus of Maker's Mark blames himself for the company's recent decision to lower the proof of its famous bourbon. Bill Samuels Jr., the son of the founder of Maker's Mark, tells the Courier-Journal he failed to foresee the worldwide surge in demand for Kentucky's famous spirit.

Maker's Mark has announced it will dilute its bourbon from 45 percent alcohol by volume, to 42 percent, so that more whiskey can be bottled to meet demand.

"I was the forecaster in chief around here...I must have been asleep at the wheel," Samuels told the newspaper.

WKU Public Radio interviewed Samuels Jr. and his son, Rob Samuels, who took over as Chairman of Maker's Mark in 2011. Rob Samuels told us at the time he was looking to expand international sales of Maker's Mark, with India as a prime target.

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Business
7:21 am
Mon February 11, 2013

Plant Expansion in Northern Tennessee to Add 70 Jobs

State economic development officials say auto transmission products supplier U.S. Tsubaki Automotive plans to expand its facility in Portland, TN, adding 70 jobs in the process. The Tennessee Department of Economic and Community Development says the company's expansion in Sumner County represents a $1.9 million investment.

Tsubaki Automotive offers state of the art power transmission products. The company supplies complete chain drive systems for engines and transmissions, including cam drives, balancer drives and oil pump drives. The systems typically include chains, tensioners, guides and sprockets.

Tsubaki's customers include General Motors, Ford, Toyota, Nissan and Honda. The company plans to host a job fair February 11th at the Sumner County Career Center.

Business
9:14 am
Sun February 10, 2013

Daviess County Lawmakers Sponsoring Bills to Help Keep Region's Smelter Jobs

Workers at the Century Aluminum smelter in Hawesville, a major employer in that region.

Legislation introduced in both the Kentucky House and Senate is designed to help keep aluminum smelter jobs in the northwestern Kentucky region of Daviess, Henderson, Hancock, and Webster counties.

The Owensboro Messenger-Inquirer reports Sen. Joe Bowen and Rep. Tommy Thompson, both of Daviess County, have introduced identical bills in their respective chambers. Bowen told the newspaper the legislation is aimed at allowing Century Aluminum in Hawesville to buy electricity on the open wholesale electricity market.

That is currently not allowed under state law.

Last summer, Century, which employs 700 workers, announced it would shutter its smelter unless either the price of metal went up or its electric rates dropped. The smelter terminated its contract with Henderson-based Big Rivers Electric Corp. Before that, Century was Big Rivers largest customer.

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Business
12:14 pm
Sat February 9, 2013

Laurel Co. Company Establishes Headquarters, Adds Jobs

SERVPRO of Pulaski and Laurel Counties will establish its headquarters in London, create ten new, full-time jobs and invest $666,500 in the area.

The company specializes in in the cleanup and restoration of residential and commercial properties after fire, smoke or water damage. SERVPRO, in London since 2005, has constructed a 15,000 square foot facility to serve as its regional headquarters.

To encourage the investment and job creation in London, the Kentucky Economic Development Finance Authority preliminarily approved tax incentives for the company of up to $300,000 through the Kentucky Business Investment program.

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