economy

Becca Schimmel

President Trump’s call to cut legal immigration by half over ten years would have a significant impact on Kentucky’s economy. Immigrants and refugees in Kentucky are more likely to start their own business than native born Kentuckians.

Trump said the U.S. has a history of taking in too many low-skilled workers from other countries. Anna Baumann, with the Kentucky Center for Economic Policy, a left leaning research institute, said a lot of skilled labor in Kentucky actually comes from immigration. Baumann noted one of every twenty immigrants in Kentucky is a small business owner.

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Kentucky taxpayers could get their first glimpse of a projected budget shortfall in 2018.

State economists are scheduled to meet Friday to adopt planning estimates for the current fiscal year plus the next four fiscal years. Kentucky finished the 2017 fiscal year on June 30 with a $138 million shortfall. Budget Director John Chilton has warned the state is likely headed for another shortfall in 2018.

J. Tyler Franklin

A revenue shortfall during Kentucky’s recently completed fiscal year means the state will have to make more money over the next year in order to meet expectations, state budget officials say.

The General Assembly crafts budgets every two years and since Kentucky had a $138.5 million revenue shortfall, the state needs to bring in about 3.8 percent more money over the next 12 months to satisfy goals.

In a report, the Office of State Budget Director said the shortfall has made the next year’s forecast “more formidable.”

Burundian Growers Find Roots In Louisville

Jul 31, 2017

On the 21 acres of grassy land that surround the barn-shaped Passionist Earth and Spirit Center, Joseph Kashamura is wearing red pants and black rubber boots. He’s watering intore, an eggplant native to Africa.

His day job is packing metals in boxes on Preston Highway. But every day when he’s done with work, he comes to the center off Newburg Road to work on an acre-sized patch of land.

Alexandra Kanik

Many towns and cities across the Ohio Valley try to improve their business environment with tax breaks, site development, and other incentives. But how about investing in compassion? A growing body of science points to compassion as an economic driver and more businesses and cities around the region are willing to give compassion a chance.

Pixabay

More than two million people across the Ohio Valley live in areas that lack any option for fast and reliable internet service. This week some of them had a chance to tell a member of the Federal Communications Commission what that means for their work, studies, and everyday life.

The Appalachian Connectivity Summit in Marietta, Ohio, explored possible local solutions. But the event came during a week that also saw large internet providers suing to stop one way to connect more people to broadband service.


Bob Jagendorf/Flickr

Steel makers and manufacturers around the Ohio Valley are waiting for a report from the Trump administration that could trigger higher tariffs on imported steel and bring mixed results for a region that still has strong ties to the industry.

In the presidential campaign Trump told voters he would place sanctions on steel imports from China and other countries, and the report being prepared by the Commerce Department could provide a rationale for new tariffs.


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Though tax receipts into Kentucky’s general fund grew for the seventh year in a row, the state was still short about $135 million compared to predictions.

According to State Budget Director John Chilton, Kentucky was on track to meet predictions until March, when the state saw revenue decline by $50.2 million over three months due to a decrease in corporate revenues.

“The forecasting challenge going forward will be predicting when revenues will reverse the current four-month slide and resume collections more closely aligned with underlying economic growth,” Chilton said in a news release.

Becca Schimmel

From the outside Summit Aviation, in the small town of Somerset, Kentucky, looks like any other nondescript, white warehouse. But inside workers craft parts for drones, weapons casings, wing stabilizers and other high-flying products.

Summit is one of many small manufacturers making up the growing aerospace industry in the Ohio Valley. Highly specialized companies are landing in Kentucky and Ohio for the proximity to important raw materials and the promise of some political sway.


Glynis Board

If you’ve ever enjoyed a Budget Saver twin popsicle on a hot summer day, you can thank the employees of the Ziegenfelder frozen treat factory in Wheeling, West Virginia.

Floor operator Sonny Baxter keeps the line of popsicles going in the cherry-scented worksite.

“You have to have a comprehension of how the line works, how to make them run as smooth as possible” he said. “You have to supervise the line workers that are bagging the popsicles. You’re a friend. You’re a leader.”


Roxy Todd

“I’d love to be able to stay here,” said 32-year-old West Virginian Mark Combs. “The people are great. But it’s just dying. If you want to succeed you’ve gotta leave.”

Mark is an actor and an Iraqi war veteran. He thinks there has to be a better life, or at least better economic opportunities, elsewhere. He decided to head west for Los Angeles.

“I think the job market is so much larger out there than what it is here that jobs are going to be really easy to come by,” he said before he set out.

Despite America's rapt attention on former FBI Director James Comey's testimony, the White House has been observing Infrastructure Week. Infrastructure is one of the only policy areas that could have crossover appeal, but there has been little real movement so far on getting something through Congress.

Ohio Valley ReSource

With a speech planned for Cincinnati’s Ohio River waterfront, President Donald Trump has chosen a fitting venue to talk about infrastructure improvements. The Ohio Valley is home to aging highways, bridges, and dams, poor drinking water systems, and weak internet service for many rural residents.

A report from the American Society of Civil Engineers found that Kentucky, Ohio, and West Virginia need billions of dollars for improvements to drinking and wastewater systems and have more than 700 dams considered “high hazards.”   


Malcolm Wilson

Nearly half of the people living in rural parts of United States don’t have access to broadband internet, the high speed connection required for common uses many of us take for granted. Government and survey data show that in 65 counties across Kentucky, Ohio, and West Virginia, the majority of residents don’t have access to broadband--that’s one-quarter of all the counties in the three states. 

With the internet continuing to grow in importance for school, work, and for everyday life, many disconnected rural communities see their lack of internet access as an existential threat. Some communities hope that by banding together, communities can find ways to bring fast internet to places it’s never been.

Becca Schimmel

A Kentucky economist said the state isn’t seeing the kind of employment growth it needs to make up for recession-era job losses.

 

The national unemployment rate fell one-tenth of a percentage point in May compared to April. Jason Bailey, with the Kentucky Center for Economic Policy, said rural parts of the commonwealth are still struggling. He cited a loss in coal mining and manufacturing jobs over several years.

Bailey said the celebration of small improvements misrepresents the reality of Kentucky’s employment picture.

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