Economy

Governor Steve Beshear has created a program lawmakers could not. The governor has released $4 million to be given as scholarships to Eastern Kentucky college students. Lawmakers wrestled with several scholarship proposals during the last legislative session, but an agreement was never passed.

A new state-by-state analysis of the teen unemployment rate shows the youth jobless picture improving throughout our listening area. The figures look at the number of 16 to 19 year olds in each state who are actively seeking work.

The ten-county Caves, Lakes and Corvettes Region saw an increase of 3.7% in direct tourism expenditures in 2011 equaling nearly $340 million. The increase added an overall amount of nearly $534 million in total expenditures to the region's economy.

Thousands of Americans who have been receiving extended unemployment benefits will no longer receive that money, if they live in states that no longer qualify for the program. Under federal law, the rate of unemployment must be 10 percent higher than for the previous three years for extended benefits to remain in each state. States that no longer qualify, as of today, include California, Colorado, Connecticut, Florida, Illinois, North Carolina, Pennsylvania, and Texas.  Officials in California say that state alone will see more than 90, 000 people lose their extended unemployment benefits today.

Eighth-graders in Kentucky are scoring higher than their national counterparts in science in what's known as the "nation's report card." The Kentucky Department of Education reports that for 2011, the state's average score was 157, compared with the national average of 151. The grading scale goes from 0 to 300.

Kentucky is reporting a decline in general government revenue in April after several months of growth. State Budget Director Mary Lassiter said today the nearly 1% drop in revenue isn't a sign that the economy has taken a step backward.

Kentucky Governor Steve Beshear this morning announced that Vermont Thread Gage is investing  $1.7 million in a growth project that will add to its workforce in Simpson County, Kentucky. The 35,000 square foot expansion will lead to fifteen additional jobs at a facility that already employs about one hundred people.

Many people facing retirement are finding that its difficult to predict how much money they will need to cover rising costs for food and gasoline after they retire. The WKU Human Resources Department has scheduled a series of meetings next week to help employees plan ahead for the future.  We hear from  Kari Aikins of the WKU Human Resources Department..........

The Office of the Budget Director for the State of Kentucky says General Fund receipts were up significantly last month. State Budget Director Mary Lassiter says General Fund receipts grew 8.4 percent in March, compared to March of last year.

Taggart Solar, LLC plans to locate a new manufacturing facility in the Edmonson County Industrial Park in Edmonson County in a 10,000 square foot leased building. The company's $440,000 capital investment will create 30 new jobs. 

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