Kentucky Economic Development Guide 2011 by Journal Communications

kentucky economic development guide kyedg.com

Breeding Innovation

Equine industry spurs research breakthroughs

Written in INK State incentives create jobs

Whatâ&#x20AC;&#x2122;s Onlineâ&#x20AC;&#x160; A Kentucky company has a lot of big fans. See the video

Victory Lane

Speedway revs up for inaugural NASCAR race Presented by the Kentucky Cabinet for Economic Development | 2011

Carroll County – Kentucky Centrally Located in the Golden Triangle of Louisville, Lexington and Cincinnati

Come join our diversified industrial base. Why Here? Available land and existing buildings Willing workforce with strong work ethic

High Quality of Life with Small-Town Charm

Electric rates among the lowest in the nation

Excellent schools, including Jefferson Community and Technical College, Carrollton Campus

Ohio River alluvial aquifer is abundant water source for a dozen industries

Quality hospital with award-winning occupational medicine department

Natural gas service owned by Carrollton Utilities Served by CSX Railroad On I-71, exit 44 Prime location at confluence of Kentucky and Ohio Rivers

Home of General Butler State Resort Park and the Kentucky Veterans Memorial 45 minutes from Louisville International Airport and Cincinnati/Northern Kentucky International Airport Less than 15 miles from Kentucky Speedway

Proactive local government

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Contact Information: Harold “Shorty” Tomlinson, Carroll County Judge-Executive (502) 732-7000 • ccjudge@bellsouth.net www.carrollcountyky.com • www.carrollcountygov.us

}

kentucky

economic development guide

38 Workstyle Bluegrass Built

Kentucky manufacturers forge innovation and growth

Command Central

Kentucky is an address of choice for corporate headquarters

Built on Partnership

Public-private collaboration gives downtown Louisville a major makeover

No Small Matter

Kentucky offers resources aplenty for small businesses and entrepreneurs

Vintage Kentucky

State cultivates a reputation for award-winning wines

Victory Lane

Kentucky Speedway revs up for inaugural NASCAR Sprint Cup race Table of Contents Continued on page 7

On the Cover Gov. Steve Beshear at Kentucky Speedway, which hosts NASCARâ&#x20AC;&#x2122;s Quaker State 400 in July 2011 Photo by todd bennett

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Insight

82 94

Overview

Almanac

Business Climate

Photo Essay

Energy/Technology

Transportation

Health & Biotechnology

Education

Livability

Economic Profile

101

Through the Lens

103

All or part of this magazine is printed on recycled paper containing 10% post-consumer waste.

Please recycle this magazine

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Gateway ReGional Business PaRk Discover Unlimited Possibilities!

Location:

Features:

• Reach 60% of U.S. Population in One Day’s Drive

• Competitive Power Rates

• Adjacent to U.S. 23, Four-Lane Highway

• Economical Land Cost

Support:

• Reduced Operating Cost

• Aggressive State Incentives

• Excellent Profit Potential

• Supportive Local Incentives

• A Committed, Dependable, Trainable Workforce

• Efficient Natural Gas Benefits:

Contact: Joe DePriest • P.O. Box 186 • Jenkins, KY 41537 (606) 438-1265 • E-mail: joedepriest@msn.com Website: www.appalachianindustrialauthority.com Cabinet for Economic Development

Visit our

page: Gateway Business Park

kentucky

economic development guide 201 1 Edition , volum e 3

audience development director Lisa Battles Proofreading Manager Raven Petty Content Coordinator Jessica Walker Staff Writer Kevin Litwin Copy Editor Jill Wyatt Contributing writers Pamela Coyle, Katie Kuehner-Ebert, Bill Lewis, Megan Pacella, Betsy Williams Media Technology Director Christina Carden Senior Graphic Designers Laura Gallagher, Jessica Manner, Janine Maryland, Kris Sexton, Vikki Williams Graphic Designer Rachael Gerringer Media Technology Analysts Chandra Bradshaw, Lance conzett, Michele Niccore, Marcus Snyder Photography Director Jeffrey S. Otto Senior Photographers Jeff Adkins, Brian McCord Staff Photographers Todd Bennett, Antony Boshier Web Content Manager John Hood Web project manager noy fongnaly Web Design Director Franco Scaramuzza Web Designer II richard stevens Web Developer I Yamel Hall Ad Production Manager Katie Middendorf Ad Traffic Assistants Krystin Lemmon, Patricia Moisan I.T. Director Yancey Bond I.T. support technician bryan foriest Senior Accountant Lisa Owens Accounts Payable Coordinator Maria McFarland Accounts Receivable Coordinator Diana Guzman Office Manager/Accounts Receivable Coordinator Shelly Miller Senior Integrated Media Manager Clay Perry Sales Support Manager Cindy Hall color imaging technician alison hunter Chairman Greg Thurman President/Publisher Bob Schwartzman Executive Vice President Ray Langen Senior V.P./Sales Todd Potter, Carla Thurman Senior V.P./Operations Casey Hester Senior V.P./Client Development Jeff Heefner Senior V.P./business Development Scott Templeton V.P./external communications Teree Caruthers V.P./Custom Publishing Kim holmberg V.P./Visual Content Mark Forester V.P./Content Operations Natasha Lorens V.P./Sales Charles Fitzgibbon, Herb Harper, Jarek Swekosky Controller Chris Dudley Content Director/Travel Publications Susan Chappell Content Director/Business Publications Bill McMeekin Marketing Creative Director Keith Harris Distribution Director Gary Smith Executive Secretary Kristy Duncan Human Resources Manager Peggy Blake Receptionist Linda Bishop

Advertisements in this publication were purchased from Journal Communications and are not endorsements of the Cabinet for Economic Development or the Commonwealth. Kentucky Economic Development Guide is published annually by Journal Communications Inc. and is distributed through the Kentucky Cabinet for Economic Development. For advertising information or to direct questions or comments about the magazine, contact Journal Communications Inc. at (615) 771-0080 or by email at info@jnlcom.com.

For more information, contact: Kentucky Cabinet for Economic Development Old Capitol Annex, 300 W. Broadway, Frankfort, KY 40601 Phone: (502) 564-7670 â&#x20AC;˘ Fax: (502) 564-1535 thinkkentucky.com

Visit Kentucky Economic Development Guide online at kentuckyeconomicdevelopment.com ÂŠCopyright 2011 Journal Communications Inc., 725 Cool Springs Blvd., Suite 400, Franklin, TN 37067, (615) 771-0080. All rights reserved. No portion of this magazine may be reproduced in whole or in part without written consent. Member Member

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Member Kentucky Cabinet for Economic Development

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Breeding Innovation

Equine industry spurs research breakthroughs

Written in INK State incentives create jobs

What’s Online A Kentucky company has a lot of big fans. See the video

Lifestyle Find out what it’s like to live here and what makes the state such a special place to be.

Victory Lane

Speedway revs up for inaugural NASCAR race PreSeNted By the KeNtucKy cABINet fOr ecONOmIc deVeLOPmeNt | 2011

Read the magazine on your computer, zoom in on articles and link to advertiser websites. News and Notes >> Our editors give you the Inside Scoop on the latest development and trends across the state.

Workstyle A spotlight on innovative companies that call the state home.

success breeds success >> Meet the people who set the pace for business innovation.

• Attractive incentives for business and industry

Plug into the state with links

• Industrial park and spec building available

to local websites and

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resources to give you a big

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picture of the region. Data Central >> A wealth of demographic and statistical information puts the entire state at your

• Central location in US • Award-winning community • Charming and relaxing atmosphere – even Mr. and Mrs. C visit

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Greensburg/Green County Industrial Foundation 110 W. Court St. Greensburg, KY 42743 (270) 932-4298 director@greensburgonline.com

www.GreensburgOnline.com

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Pine Ridge Regional industRial authoRity and Business PaRk Where the Past, Present and Future come together and volunteerism is a way of life …

• 128-acre Industrial Park – located at the Quillen Chapel Interchange of the Bert T. Combs Mountain Parkway, near Campton • Low utility rates • Largest oil and gas fields east of the Mississippi River • Hard working, dedicated workforce from five counties • Eastern/central section of Kentucky • One hour from Lexington Airport • Minutes away from Wendell Ford Regional Airport and Stanton Airport • Outstanding fire departments and civic groups • Home to the Daniel Boone National Forest • More species of wildflowers than anywhere else in the world

“The Gateway to the Mountains” ✔ Where tradition and technology go hand-in-hand. Good roads and modern utilities allow area residents to enjoy the charm of small-town life and the convenience of the modern world. ✔ No other part of the state can match this area’s scenery. Natural Bridge State Park – Red River Gorge. Hundreds of natural arches, five rivers, countless smaller streams and small lakes. The Shawnee once called the region “the playground of the gods.” ✔ The region offers good schools, highly rated academics and sports programs, five golf courses, libraries and

museums, churches, Hazard Community College/Lees College Campus, Kentucky Area Technology Center – Lee County Campus. Community parks and playgrounds, rock climbing, large populations of deer and turkey, and some of the best fishing and hunting in the country. ✔ Each of the five counties offer smaller industrial parks suitable for satellite businesses. Each county offers outstanding annual festivals including the Woolly Worm Festival – one of Kentucky’s top 10 tourism events. Bob Smith • (606) 464-2888 • forktrt@bellsouth.net Steve Hale • (606) 663-2283 • shale@whitakerbank.com

Wolfe • Lee • Powell • Owsley • Breathitt Counties

Digital Edition Built on Partnership Public-private collaboration gives downtown Louisville a major makeover

Story by Katie Kuehner-Hebert Photography by Antony Boshier

ouisville’s skyline is getting an extreme makeover, thanks to collaboration between local and state governments and the private sector. The newest jewels include the KFC Yum! Center, a 22,000-seat sports and multipurpose arena that opened in October 2010, and a life sciences research park under construction adjacent to the University of Louisville Health Sciences Center.

KFC YUM! CENTER The KFC Yum! Center was part of a $379 million project that also included a 750-car parking structure and flood

wall, says Jim Host, chairman of the Louisville Arena Authority, a key player in the project’s development. “As a result, there are six new restaurants around the arena that have either been built or are in construction, providing a huge number of jobs,” Host says. More commercial as well as residential projects surrounding the center are on the drawing board, for a total of $475 million in new development. Development of the center was funded through a variety of innovative

methods that underscored a high level of collaboration between public sector and private sector entities. The Louisville Arena Authority, a 501(c3) nonprofit, received a $75 million grant from the state to help fund the project. A second revenue stream was created through tax increment financing, in which the city pledged a portion of new tax revenues generated by the development to cover the debt issued to construct the project. Moreover, a number of private sector firms contributed to the financing, including Yum Brands,

Louisville’s new KFC Yum! Center is a $238 million, 22,000-seat sports and multipurpose arena.

KENTUCKY

K E N T U C K Y E C O N O M I C D E V E L O P M E N T. C O M

Share with a friend Easily share an interesting article, stunning photo or advertisement of your business on Facebook, Twitter or via email.

HAVE A BLOG OR WEBSITE? Embed the digital magazine into your site to add compelling information about the successful businesses located here, what it’s like to work here and why it’s a great place to live.

DO MORE THAN JUST READ ABOUT IT Hear from decision-makers at leading companies, see video of the region’s success stories, and find links to useful demographic information and information sources.

kentuckyeconomic development.com

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Overview

Kentucky is Open for Business The state makes it easy for companies to grow and flourish It is a pleasure to present the 2011 Kentucky Economic Development Guide. As you browse this magazine, you will see why many of the world’s most successful companies have discovered that Kentucky is a great place to build their businesses. We think you will agree that Kentucky has everything your industry needs to succeed, including industrial electricity costs that are consistently among the lowest in the nation, a tax structure that is among the most competitive in the region and an ideal location within 600 miles of two-thirds of America’s population. Kentucky also has some of the most effective and progressive financial incentive programs anywhere, a workforce with a “can-do” attitude and an unsurpassed quality of life. Called the new “Auto Alley” for our strong vehicle manufacturing presence, the Commonwealth also offers a burgeoning service sector and an increase of high-tech opportunities.

thousands of domestic companies and nearly 400 international operations representing 30 nations. We’re especially proud to be home to a bevy of homegrown companies – Humana, Lexmark, Papa John’s, KFC, Ashland Inc. and Louisville Slugger among them – all of which have become household names around the world. We also put a heavy emphasis on our very own exciting cadre of small businesses. Whatever your size, wherever you’re based, no matter your product or service, Kentucky makes it easy to do business. We invite you to explore the many advantages Kentucky offers to new and expanding businesses. If you would like to join what’s happening in the Commonwealth, give us a call. We want to help you write your own success story. Sincerely,

Steven L. Beshear Governor of Kentucky

As Governor of the Commonwealth of Kentucky, it is my goal to send a clear message to companies around the world that Kentucky is open for business. It’s because of our pro-business climate that we’re already home to

k e n t u c k y e c ono m i c d e v e lop m e n t . c o m

Almanac

Taking Aim at an Expansion A Gem of a Restoration

A big shot in Graves County is the iconic firearms manufacturer Remington Arms Co., one of the largest domestic producers of shotguns and rifles.

One of five theaters operated between the mid-1800s and the 1970s in what is now historic downtown Frankfort, the Grand Theatre is the only one with its original configuration still intact.

The company is expanding its operation in Hickory, a $5 million investment that will add 100 jobs.

Built in 1911 as a 135-seat vaudeville house, the Grand added motionpicture entertainment with silent movies and then talkies before it was converted in 1941 into a 680-seat movie theater. After it was no longer used as a theater, it served several commercial purposes from 1966 until 2005, when efforts began in earnest to raise money to restore it.

Founded in 1816, Remington is one of the nationâ&#x20AC;&#x2122;s oldest continuously operating manufacturers of shotguns and rifles. The company said its Kentucky operations in 2009 contributed $33 million to the Gross State Product, supported 268 full-time jobs and generated nearly $10 million in annual payroll.

The Franklin County Fiscal Court in 2007 approved a 2 percent hotel room tax to support the restoration, which culminated in the Grand opening in 2009 as a $5 million state-of-the-art performance and visual arts center. The 428-seat Grand hosts a range of performances, from ballet to symphony music to operas, as well as films, popular music acts and touring company performances, and it also houses gallery space. For more, go to www.grandtheatrefrankfort.org.

Research in Good Taste ZoomEssence Inc., a startup research and development firm, will invest $1 million to further develop its patented intellectual property relating to the creation of liquid quality flavors and ingredients in a powder form. The project is creating 20 new jobs in Hebron, all of which are considered high-tech and technical support jobs paying an average annual salary of approximately $67,000, exclusive of benefits. ZoomEssence is developing its Dri Zoomâ&#x201E;˘ process, spray drying which converts liquids to powders at ambient temperature, for use in making products for the food and beverage, pharmaceutical, chemical and other markets. For more, go to www.zoomessence.com.

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

A Jewel of a Project It’s appropriate that a company known for its fabled blue box is coming to the Bluegrass State. Tiffany & Co. is building a jewelry manufacturing facility in Lexington, creating 125 jobs. Tiffany’s 25,000-square-foot manufacturing facility on a 4-acre site in the Blue Grass Business Park is its first outside the Northeast. Lexington’s quality of life was among the top reasons that the company – known worldwide for its high-quality jewelry in a signature blue box – says it chose Lexington for its expansion. The company was founded in 1837, and its products include diamond, gemstone and sterling silver jewelry and gifts, watches, china, fragrances and accessories. Products made at the Lexington plant will include engagement jewelry; singlestone settings, such as diamond pendants and diamond stud earrings; and the Tiffany Keys collection.

the right parts for an expansion Plastikon Industries Kentucky likes Leitchfield. The automotive supplier has undertaken an expansion in Grayson County that includes acquisition of a second facility of 90,000 square feet. The growth mean 100 new jobs and a $6.35 million capital investment.

Reading, Writing and Reducing Energy Use Kentucky is at the forefront of efforts by local school districts to build schools that generate renewable energy. A $1.37 million federal stimulus grant to Warren County Public Schools helped pay for the purchase of solar panels at Richardsville Elementary School, which opened in 2010, with the goal of being an energy-neutral facility. The solar panels help the school produce as much energy as it uses, and the building boasts such green features as lighting shelves, solar tubes, light sensors and geothermal heating. Turkey Foot Middle School, which opened in 2010, in the Kenton County School District, features numerous energy-efficient measures including a geothermal heating and cooling system, and a lighting control system that utilizes natural light to minimize artificial light. The school is twice as large as the school it replaced, but spends half the amount on energy.

The company makes plastic automotive interior trim for Tier 1 and Tier 2 suppliers. The company, formerly known as Inplast, has been operational in Leitchfield since 2006 and currently employs 120 people. The second facility began operations in spring 2011 and was scheduled to be in full production by the end of November 2011. Helping the expansion was assistance from the Kentucky Economic Development Finance Authority (KEDFA), which approved Plastikon Industries Kentucky for tax incentives up to $1.5 million through the Kentucky Business Investment (KBI) program. For more information on Plastikon, visit www.plastikon.com.

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Southeast Kentucky Business Park 54,195-square-foot speculative building, expandable to 80,000 square feet 3.3 miles from Interstate 75 Within 600 miles of 54% of the total population of the United States; 51% of all retail sales; 60% of all manufacturing employment Two major airports nearby in Lexington and Knoxville; two regional airports 428 acres available for development 12% lower cost for industrial electrical power than any state east of the Mississippi River Within 100 miles of 20 technical schools and 11 colleges/universities Daniel Boone National Forest/Cumberland Falls State Park nearby Contact Bruce Carpenter Corbin Economic Development Agency (606) 528-6390 â&#x20AC;˘ becarpenter@sekbp.com www.sekbp.com

Almanac Head of the Class Six Kentucky schools were among just 314 in the nation in 2010 to receive National Blue Ribbon Schools designation by the U.S. Department of Education.

Powerful Upgrade A manufacturer of air-cooled gasoline engines for outdoor power equipment is investing more than $35.5 million in its operation in Murray. Briggs & Stratton Corp. is planning significant renovations over the next three years that will allow it to sustain a competitive global market position, and ultimately retain its more than 640 full-time employees. The 290,040-square-foot Murray facility is responsible for die casting, machining and the assembly of engines and related components. Briggs & Stratton plans to make significant renovations to the facility and fixtures, upgrading tooling, installing new machinery and providing workforce skills. Visit www.briggsandstratton.com for more on the company.

Marking a Milestone Anniversary Calgon Carbon Corp. has been a fixture of the Boyd County economy in eastern Kentucky for 50 years. The company celebrated a golden anniversary at its Big Sandy Plant in Catlettsburg in March 2011, noting the completion of a more than $40 million investment to upgrade and restart idle manufacturing capacity, and install and begin production for a new line of products. The expansion created 35 new jobs, bringing employment at the facility to nearly 200.

The schools are Christian Academy of Louisville High School; Dixie Elementary Magnet School in Lexington; Donald E. Cline Elementary School in Cold Spring; Ezel Elementary School in Ezel; Sedalia Elementary School in Sedalia; and William H. Natcher Elementary School in Cloverport. The Blue Ribbon program honors public and private elementary, middle and high schools that are either high performing or have improved student achievement to high levels, especially among disadvantaged students. The program is part of a larger Department of Education effort to identify and disseminate knowledge about best school leadership and teaching practices. The six schools recognized in 2010 join 45 other Kentucky schools honored as Blue Ribbon Schools since 2003. Go to www2.ed.gov/ programs/nclbbrs/awards.html for more information on the Blue Ribbon Schools program.

Calgon Carbon is the worldâ&#x20AC;&#x2122;s largest manufacturer of granular-activated carbon, with production and operations in North America, Europe and Asia. The company offers carbon technologies used in more than 700 distinct market applications from purifying air and drinking water, to purifying foods and pharmaceuticals, to separating gas and removing mercury emissions from coal-powered electrical facilities. Kentucky partnered with Calgon Carbon on the most recent expansion, with approval of state tax incentives up to $1.2 million through the former Kentucky Industrial Development Act.

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Kentucky

Business Climate

Success Written in INK Revamped incentive programs pay dividends in delivering investment and jobs to Kentucky

Story by Bill Lewis Photography by Antony Boshier

entucky’s economic development successes are written in INK, thanks to the surge in business investments and job creation that are being encouraged by the state’s Incentives for a New Kentucky programs. The INK programs, signed into law in 2009 by Gov. Steve Beshear, modernize and streamline the Commonwealth’s business incentives and offer several new and revised programs to provide tax incentives to businesses locating, expanding or reinvesting in the state. The legislation includes programs that, for the first time, allow the Bluegrass State to offer tax credits for film production, as well as to small businesses hiring just one new employee while making a $5,000 investment.

Tax Incentives, Credits The state’s return on investments has been tremendous, says Larry Hayes, secretary of the Kentucky Cabinet for Economic Development, the state’s lead economic development organization. At latest count, more than 280 businesses had received preliminary approval through one or more INK programs. Those businesses are implementing or considering projects representing a potential investment of more than $2.9 billion across Kentucky. Those projects could create 17,600 jobs and help retain another 5,100 existing jobs. “Our 2010 end-of-the-year job numbers nearly doubled that of the previous year, while our investment numbers more than doubled. This growth can largely be attributed to

the success of our INK programs aimed at not only attracting new business to the state, but at retaining and expanding of our existing industries. In fact, almost 85 percent of the announcements in 2010 stemmed from existing Kentucky industries that either expanded or made investments to retool Kentucky operations,” Hayes says. INK incentives are encouraging a variety of businesses, from Tennesseebased retailer Tractor Supply Co. to auto industry supplier Martinrea, to invest millions of dollars and create jobs in Kentucky. Supporting Business Growth Tractor Supply is investing more than $53.1 million for a new 840,000-square-foot regional

Polyair, which makes polyethylene foam protective packaging products, expanded in Bardstown thanks to Kentucky’s INK programs.

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Staff Photo

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

distribution facility in Franklin. The new operation will create 216 new jobs within three years of operation to expand its Kentucky facilities. Martinrea Heavy Stampings is investing $12 million to expand its Shelbyville operation to provide metal stampings and assemblies for production of the next generation of the Ford Escape in Louisville. Martinreaâ&#x20AC;&#x2122;s expansion will create 150 jobs. Martinrea Hopkinsville, which manufactures technologically advanced automotive components and assemblies for the global auto industry, is investing $13.7 million to expand its facility. The investment enables the company to strengthen its client base, increase efficiencies and to maintain its current 438 employees,

General Manager Kurt Spencer says. “With the support from the state of Kentucky and local representatives, Martinrea made the decision to expand the Hopkinsville operation. With the current stress on automakers and their supply base, we are fortunate in this market to be able to expand our business and better secure the future for our employees,” he says. Automotive supplier American Howa Kentucky Inc. is expanding its Bowling Green operation, creating 86 jobs. The nearly $11.5 million investment will add 56,000 square feet to the company’s existing 138,000-square-foot facility. The Kentucky Economic Development Finance Authority (KEDFA) gave approval for tax incentive benefits to American Howa Kentucky up to

$900,000 through the Kentucky Business Investment program. Another automotive supplier, Curtis Maruyasu America, is retooling its facility in Lebanon, investing nearly $11 million and preserving more than 416 jobs. KEDFA approved tax benefits up to $1 million under the Kentucky Reinvestment Act. Also with INK’s encouragement, Polyair selected its Bardstown operation for a $5.6 million investment that allows the company to consolidate operations from out of state and create 27 new jobs in Kentucky. The plant manufactures polyethylene foam protective packaging products. “The INK program made for a smooth process,” Plant Manager Rick Potter says.

An Impressive Improvement Over the past two years, Kentucky’s business tax climate improved more than any other state’s, according to the Tax Foundation’s annual State Business Tax Climate Index. In 2009, Kentucky ranked 34th among the states. By 2011, Kentucky’s ranking improved 15 places to 19th. The State Business Tax Climate Index is a tool for gauging how each state’s tax system compares with competing states.

all about INK an overview of incentives for a new kentucky programs Incentives for a New Kentucky (INK) programs modernize and streamline Kentucky’s business incentives. The business incentive package includes several new and revised programs to provide tax incentives to businesses locating, expanding or reinvesting in Kentucky. The primary business incentive programs include: • Kentucky Reinvestment Act (KRA): KRA benefits existing manufacturers that need to make a significant capital investment in Kentucky facilities to remain competitive. Companies must invest at least $2.5 million in an existing Kentucky manufacturing facility and maintain at least 85 percent of the full-time employment base to claim the tax credit. The company may also recover up to 100 percent of eligible skills upgrade training costs. • Kentucky Business Investment Program (KBI): Eligible companies include any business engaged in manufacturing, agribusiness, regional and national headquarters, or non-retail service or technology activities that conduct a new project, with a minimum investment of $100,000 in the state, that creates a minimum of 10 full-time jobs with minimum required wages and benefits. Available tax credits include up to 100 percent of corporate income or a limited liability entity’s tax liability arising from the project and wage assessment incentives. Projects in counties with high unemployment are eligible for additional incentives. • Kentucky Enterprise Initiative Act (KEIA): Eligible

companies are primarily engaged in manufacturing, service, technology activities, or in operating or developing a tourism attraction. Incentives are available for an investment of at least $500,000 in an economic development project. Available incentives include a refund of sales and use tax paid for building and construction materials, R&D equipment or electronic processing equipment. • Kentucky Small Business Investment Credit (KSBIC): The KSBIC program is designed to spur job creation by providing a nonrefundable state income tax credit to small businesses. The program provides state income tax credits ranging from $3,500 to $25,000 per eligible small business that creates, fills and maintains one or more new eligible jobs and invests at least $5,000 in qualifying equipment or technology. With certain exceptions, most for-profit small businesses with 50 or fewer employees are considered eligible for the program. • Kentucky Film Office Tax Credit: The program is designed to encourage increased production activity in Kentucky. Companies spending at least $500,000 to produce feature films or television shows in Kentucky, $200,000 to make commercials or $50,000 to produce documentaries are eligible for a refundable income tax credit of 20 percent of approved expenditures. Broadway shows produced in Kentucky for national tour are also eligible for incentives, with at least $50,000 in qualified expenditures. k e n t u c k y e c ono m i c d e v e lop m e n t . c o m

Glasgow-Barren County

A Great IDEA! www.glasgowbarrenidea.com

• One-day drive within 60% of nation’s population • Excellent post-secondary education Moore Field

• Thriving medical community • Progressive Farmer’s magazine “Best Place to Live” in rural America • 300 acres of land available, 50-acre pad-ready sites • Robust infrastructure TJ Samson Community Hospital

• New spec building – 80,000 square feet on 16-acre lot. Expandable to 120,000 square feet. • CSX railway access • Diverse industry base Glasgow-Barren County Industrial Development Economic Authority Dan Iacconi, Director • (270) 651-6314 or (800) 467-6314 diacconi@glasgow-ky.com • www.glasgowbarrenidea.com 24

Smart for Living, Better for Business

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

United in Growth Groups band together to promote Kentucky’s attributes A rising tide lifts all boats, as the saying goes, which explains why communities and businesses are working together through KentuckyUnited to encourage investment and job creation throughout the Commonwealth. “We are committed to the principle of regionalism. We’re not selling individual communities; we’re selling Kentucky as a whole,” says Mike Mangeot, president and CEO of the nonprofit Kentucky Association for Economic Development (KAED), KentuckyUnited’s parent organization. Since it was formed two years ago, KentuckyUnited has been busy raising awareness of the state’s business advantages, including central location, low taxes and trained workforce, among professionals who help businesses select sites for new locations and expansions. Volunteers initially visited four key markets – Atlanta, New York City, Chicago and Dallas – and later added Detroit to the list of hot spots for businesses that might invest in Kentucky, Mangeot says. “We are generating solid leads, and the partners are getting valuable exposure,” he says. When the recession hit, the economic development professionals who are members of KAED saw that Kentucky faced stiff competition from other states for new business investment and jobs. They recognized the power of the Commonwealth’s communities working together. Today, the 21 members of KentuckyUnited, including the Kentucky Cabinet for Economic Development, LG&E and KU Energy, Northwest Kentucky Forward, the Bluegrass Alliance, the Tennessee Valley Authority and more, are working to encourage new investment, Mangeot says.

As it enters its third year, KentuckyUnited is looking for new opportunities to strengthen the economy. For example, it is partnering with one of Kentucky’s signature industries to help the state stand out when competing for the attention of site selection professionals. “We’ve added bourbon tastings to get our message out there. The

bourbon industry is unique. No other state has that,” Mangeot says. Bourbon and economic success, he adds, are the perfect mixers. For more about the Kentucky Association for Economic Development, such as membership information and a calendar of events, visit the organization’s website at www.kentuckyunitedonline.com. – Bill Lewis

Rock Solid BuSineSS oppoRtunitieS ...

poWell countY, kY Home to two of the world’s natural rock wonders, Natural Bridge and the Red River Gorge, Powell County, Kentucky is also home to rock solid industrial and business development opportunities. AvAilABle lAnd: Clay City Business Park and Stanton Industrial Parks AcceSS: Powell County, Kentucky is located approximately 40 miles east of Lexington via I-64 and the Mountain Parkway. Located immediately off the four-lane Mountain Parkway, Powell County blends small-town charm with easy access to larger cities. Transportation is further enhanced with a local UPS hub and airport. FinAnciAl incentiveS And WoRkFoRce: Kentucky’s best financial incentive programs along with Powell County’s qualified workforce and strong rural work ethic provide a rock solid basis for business success. contAct: Powell County Economic Development P.O. Box 10 • Stanton, KY 40380 • (606) 663-2156 powellindustrial@bellsouth.net • www.kyrockies.com

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Bluegrass Built Kentucky manufacturers forge innovation and growth Story by Bill Lewis

Kentucky

f parts of your car, the screen on your smart phone or the bottle of premium bourbon in your cabinet each had the same label, it would probably say, “Made in Kentucky.” Manufacturers in the Bluegrass State are thriving. Success stories include Ford Motor Co., which is spending $600 million to transform its Louisville Assembly Plant into the company’s most-flexible high-volume factory in the world, to Corning Inc., which is putting $186 million toward increasing production of its Gorilla Glass used in electronic devices in Harrodsburg, and Heaven Hill

Distilleries, which invested $5 million in its Bardstown expansion. ZF Steering Systems is growing in Florence, investing $95.8 million over the next three years and creating 374 new jobs. The project was aided by approval of up to $7.5 million in incentives by the Kentucky Economic Development Finance Authority (KEDFA) through the Kentucky Business Investment program (KBI). In Ghent, North American Stainless plans to invest $10 million for increased peeled bar production plus $20 million for additional equipment upgrades, the ninth expansion the company has

made in Kentucky since 1990. Global aerospace and defense company Lockheed Martin made a major commitment to the state in March 2011, announcing a $26 million investment at its Bluegrass Station operations in Fayette County that will add 224 jobs to the more than 1,800-person workforce the company and its partner companies employ in the state. The global security company was awarded a major contract for logistics support services, and Kentucky was one of several states being considered for the project. KEDFA approved Lockheed Martin for

North American Stainless in Ghent

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T o d d B e nn e t t

Antony Boshier

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

tax incentives up to $15 million through KBI. The investments manufacturers make and the jobs they create strengthen the Commonwealth’s economy, says Lynn Witten Godsey, president of the Kentucky Manufacturing Assistance Center (KMAC). “Manufacturing has been an important economic engine for Kentucky, providing thousands of high-paying jobs and millions in tax revenue. It’s critical for us as Kentuckians to keep our manufacturing industry successful. KMAC is committed to just that – make Kentucky manufacturers competitive, nationally and internationally,” Godsey says. Manufacturing Confidence Nearly one out of every seven jobs in Kentucky, or about 14 percent of non-agricultural work, is in manufacturing, which employs 255,700 workers and is the state’s third-largest creator of jobs, figures compiled by KMAC show. Those numbers are growing. As their confidence in the economy increases, manufacturers are creating more jobs. Fifty-seven percent of manufacturers surveyed by the Kentucky Association of Manufacturers planned to hire in 2011. That represents a 16 percent increase from the prior year. Ford, for example, is creating 1,800 new jobs at its Louisville Assembly Plant, where it will operate on two shifts with approximately 2,900 employees who will build the next generation of the popular Escape. Kentucky and Louisville approved tax incentives that enabled Ford to transform the plant. “Working closely with the UAW and Kentucky officials, we have found a way to competitively deliver an important new vehicle that is good for our customers and supports our plan to deliver a well-balanced product portfolio of cars, trucks and utilities,” says Mark Fields, Ford’s president of The Americas. Gorilla Glass For Kentucky The state’s commitment of financial incentives and worker training encouraged Corning to expand in Harrodsburg for production of Gorilla Glass, says Corning spokesperson Anna Giambrone. The Harrodsburg plant, which opened

in 1952, is increasing production capacity to accommodate the demand for its thin, durable, highly scratch resistant cover glass used in portable and handheld electronic devices. Corning will also add research capability to explore the parameters and processes in manufacturing microsheet, an extremely thin, flexible glass to be used in next-generation electronic devices. “The incentives helped in our final decision, but the flexibility of Kentucky workers to accept retraining and the quality of the workforce were major influences on our decision,” Giambrone says. Also in Harrodsburg, Hitachi is investing $68 million in its auto components plant and is adding 145 jobs. State incentives are encouraging other manufacturers to invest and create jobs. A sampling includes: • Denso Air Systems, a global automotive parts manufacturer, is locating a new operation in Hopkinsville. The company plans to spend more than $4.2 million and will create 80 new jobs, growing to 105 over several years. • Walle Corp., a label supplier to the consumer packaged goods industry, is expanding in Winchester. It will invest more than $4.1 million to increase printing production, which will result in 23 new jobs at the plant. • NHK of America Suspension Components is investing more than $20 million to construct a 50,000-square-foot plant at its current location in Bowling Green. The auto supplier will add up to 108 new jobs over several years to its existing workforce of more than 200. • Ventra Plastics Russellville is expanding its Logan County facility. The injection molding manufacturer will add 25 employees to its current base of 230 people and invest nearly $3.4 million. “Any time a company decides to invest in expansion, it’s a real win for all manufacturers in Kentucky,” KMAC’s Godsey says. “When companies like Ford and Dow Corning expand, they send a signal to others that they are confident about the future. Their expansions also mean more business for their suppliers in the state. We’re hopeful this will lead to more companies expanding and creating jobs in Kentucky.”

the results are in The Kentucky Manufacturing Assistance Center is a private, not-for-profit corporation dedicated to working with Kentucky manufacturers to accelerate their transformation into efficient, innovative market leaders that create economic growth and prosperity throughout Kentucky. KMAC’s clients report the following results in 2010: • $16 in cost savings for every $1 invested in KMAC services • Increased sales by $16 million • Retained existing sales of $30.5 million • Invested $14.9 million in plants, equipment and people • Created 91 new jobs and retained 155 existing jobs

Clockwise from top: An employee works a press at Walle Corp.’s plant in Winchester; North American Stainless in Carroll County; The new Ford Escape will be manufactured in Louisville.

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One Hour from Nashville International Airport Home of 2,100-Acre TVA-certified Megasite Home of 101st Airborne Division â&#x20AC;&#x201C; Fort Campbell, KY

Hopkinsville â&#x20AC;&#x201C; Christian County Economic Development Council 2800 Fort Campbell Blvd. Hopkinsville, KY 42240 270.885.1499 www.hopkinsvilleindustry.com

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Heavy in Metal Kentucky aluminum industry buoyed by Rio Tinto Alcan investment After producing more than 11 billion pounds of aluminum, any smelter could use a makeover. Rio Tinto Alcan’s hardworking facility in Sebree is no exception. The company is investing $55 million in a new bake furnace that will preserve 500 jobs and keep the operation working at its current capacity for years to come. The firm is spending millions more to increase the plant’s electrical amperage capacity, says Kenny Barkley, senior labor relations, communications and external relations leader. “It’s quite a commitment for the company. We hope to be here 50 more years,” he says. The highly efficient bake furnace, longer than two football fields, will enable the facility to succeed against competitors around the globe and make the smelting process more environmentally friendly and safer, Barkley says. The furnace will bake 1,600pound blocks of carbon, called anodes, that are used to conduct electricity in the potlines where aluminum is produced. If Rio Tinto Alcan did not make its own anodes, the Sebree facility would have to import them. “That would lose 100 jobs in that one department and affect others. We would lose many more,” Barkley says. Not only have those jobs been preserved, an additional 200 jobs were created for construction of the new bake furnace. Aluminum production is a major industry sector in Kentucky, supporting more than 15,000 jobs and turning out more than $4.5 billion in primary products each year. The state is home to more than 120 aluminum-related facilities, including 27 that supply the auto industry. The Kentucky Aluminum Network, an industry organization, estimates the industry produces an annual

economic impact of nearly $1.5 billion in the state. Kentucky offers a number of advantages for aluminum producers, including riverport access, low power costs, a highly skilled workforce and the presence of a nucleus of auto manufacturing operations. The state encouraged Rio Tinto to make long-term reinvestments by providing tax incentives, which

Barkley says were a “big motivator.” Rio Tinto Alcan is one of the largest employers in the Henderson County community. The community gets a bonus from the project. Rio Tinto Alcan is giving fire bricks from the old bake furnace to nonprofits and other organizations, including a public park, which use them to build barbecue pits. – Bill Lewis

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Kentucky

Command Central Kentucky is an address of choice for corporate headquarters Story by Betsy Williams Photography by Antony Boshier

entucky is home to an impressive cross section of corporate headquarters, including internationally known names such as YUM! Brands (KFC and Pizza Hut), Lexmark, Humana, Brown-Foreman, GE Appliances & Lighting, Alltech and Toyota Motor Engineering and Manufacturing North America. While some have grown up in Kentucky, others have been lured to the Bluegrass State by its advantageous business and power costs, array of meaningful incentive programs, highly skilled and educated workforce, significant logistical and geographic advantages, and superior quality of life. The momentum continues with a string of recent headquarters announcements, creating thousands of professional jobs and millions of dollars in investments.

Signature HealthCARE finds a home One such company is Signature HealthCARE LLC, a long-term care provider that relocated its headquarters to Louisville from Florida in 2010, investing more than $6.5 million and creating more than 120 new jobs in the Commonwealth, jobs that carry an average annual wage exceeding $75,000, plus benefits. The company’s new 65,630-square-foot facility will serve as its national headquarters, including corporate management, and facility operational support functions. “One key component to this decision was the burgeoning economic cluster surrounding aging care,” says Ben Adkins, communication manager for the company. “Six of the top 10 senior-care companies in the United States are

global player Seventeen of the Fortune 25 largest U.S. corporations maintain manufacturing or major supportive service facilities in the Bluegrass State, including Walmart Stores, Chevron, General Electric, Bank of America, AT&T, Ford Motor, JP Morgan Chase, Hewlett-Packard, Berkshire Hathaway, Citigroup, General Motors and American International Group.

Humana is one of six Fortune 500 companies headquartered in Kentucky.

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K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

Clockwise from top: Barry A. Khan, president and CEO of Dharma Construction Services, moved his company’s headquarters from California to Louisville; Florida Tile manufactures porcelain and ceramic wall tile in Lawrenceburg, and has relocated its headquarters to Lexington; Signature HealthCARE moved to Louisville from Florida.

located here, making Louisville a likely location to develop innovative approaches to aging care in the coming years.” A cost-effective headquarters was one of the primary goals in the company’s relocation search, and Kentucky offered the best option, Adkins says. “An aggressive incentive program and competitive tax structure, among other factors, make Kentucky a great place to do business. And the low cost of living is an added value for employees,” he says. The University of Louisville also played a key role in Signature HealthCARE’s decision, as Nucleus, the university’s Life Science & Innovation Center, is in the process of developing a downtown life sciences park. “Their plans to incubate and accelerate innovations in the life

sciences sector dovetailed perfectly with our ideas about doing the same in aging care,” Adkins says, noting that the university offers a wealth of expertise in its Department of Geriatric Medicine, one of only 13 such departments in the nation. Other companies are following Signature HealthCARE’s lead. Dharma Construction Services has relocated its headquarters from California to Louisville, creating 41 professional jobs and signaling a more than $2.3 million investment in the state. GBC Metals LLC, doing business as Olin Brass, is also bringing its new headquarters to Louisville. The move will create up to 39 new jobs over the next several years. The Kentucky Economic Development Finance Authority approved Olin Brass for tax incentive benefits up

Kentucky boasts six 2010 Fortune 500 company headquarters: The Bluegrass state was well represented on the Fortune 500 list of largest U.S. public companies, based on gross revenue, in 2010. Six companies headquartered in the state are on the list: Humana (73); YUM! Brands (216); Ashland (280); Omnicare (347); General Cable (469); and Kindred Healthcare (477).

Ashland – Covington Omnicare – Covington

HQ HQ

HQ General Cable – Highland Heights

Humana – Louisville Kindred Healthcare – Louisville YUM! Brands – Louisville

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The Humana Tower in downtown Louisville

living large in kentucky Ten of the Fortune 25 largest global corporations maintain manufacturing or supportive service facilities in the Bluegrass State, including: • • • • • • • • • •

Walmart Stores (1) – Two distribution centers BP (4) – Arco Aluminum and Logan Aluminum Toyota (5) – Manufacturing, logistic services, parts center Chevron (11) – Lubricants manufacturing General Electric (13) – Aviation, aircraft engines, call center, appliance, glass and lamp manufacturing Total (14) – Arkema Inc. and Bostik Inc. Bank of America (15) – Regional headquarters, support services AT&T (21) – Call center, regional headquarters, Cingular Wireless LLC Ford Motor (23) – Assembly and truck plants JP Morgan Chase & Co. (25) – Two facilities in Louisville

to $1.8 million through its Kentucky Business Investment program. Florida Tile In a move that created 51 jobs and more than $3.7 million in investments, Florida Tile relocated its headquarters to Lexington, gaining an advantage by being closer to its existing manufacturing and distribution operations in Lawrenceburg. The porcelain and ceramic wall tile manufacturer was approved

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for up to $1.275 million in tax incentives, which can be earned over a 10-year period through corporate income tax credits and wage assessments. Fruit of the Loom Fruit of the Loom, a Kentucky mainstay for more than 70 years, has expanded its world headquarters in Bowling Green, creating 600 new jobs and $47 million in investments when it consolidated its management groups for several brands.

“The decision to locate and consolidate the management group of the two major companies we’ve acquired was made on the judgment that Bowling Green is really a good place to do business,” says John Holland, chairman of the board for Fruit of the Loom. “The people we’ve recruited and transferred here have been very complimentary of how they’ve been welcomed into the community, and of the availability of different recreational and cultural

activities and educational opportunities. What that tells us is everything an industry needs to find when they are considering a new location is available right here.”

Alltech’s headquarters in Lexington. The animal health and nutrition leader has annual revenue approaching $500 million. k e n t u c k y e c ono m i c d e v e lop m e n t . c o m

Kentucky

Built on Partnership Public-private collaboration gives downtown Louisville a major makeover

Story by Katie Kuehner-Hebert Photography by Antony Boshier

KFC Yum! Center The KFC Yum! Center was part of a $379 million project that also included a 750-car parking structure and flood

Louisville’s new KFC Yum! Center is a $238 million, 22,000-seat sports and multipurpose arena.

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in return for naming rights and other corporate sponsorships. The University of Louisville has signed on to be a main tenant of the arena, and is expected to generate 62 percent of the annual revenue for the center. As a result of the financing package, Moody’s and Standard & Poor’s rated the projects bond as investment grade. “The arena is a perfect example of

public-private partnerships,” says Alan Delisle, executive director of the Louisville Downtown Development Corp. “There were a number of different financing techniques that took place, and many organizations came together to make it work.” In addition, the Louisville Downtown Development Corp. worked with the city of Louisville

to improve the streetscapes and make other infrastructure improvements surrounding the center. Stimulus dollars from the federal government helped pay for refurbishing a bridge underpass. nucleus for Research Nucleus, the economic development arm of the University of Louisville

Below: The lobby of the KFC Yum! Center Top right: Processing DNA in the PGxl Laboratories at Nucleus in Louisville

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by the numbers

$379 million Total cost of the KFC Yum! Center project in Louisville

$75 million Value of the grant from the state of Kentucky to help finance the KFC Yum! Center project

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Rendering of Museum Plaza, a mixed-use development being planned for Louisville

Foundation, is the driving force behind the life sciences research park, a campus of labs and offices for startup companies armed with patents from the University of Louisville, says Vickie Yates Brown, president and chief executive officer of Nucleus. The vision for Nucleus and the community, Brown says, takes its lead from Dr. James Ramsey, the current president of the University of Louisville, who sees the development leveraging the assets and resources of the university and creating value for additional investment. Construction of the research park is being financed in part by tax increment financing. Also on the drawing board is Museum Plaza, a $465 million, mixeduse development that will include a 62-story tower and another University of Louisville research park for engineering and applied sciences research technology. “We’ll have an urban research park right next to our medical corridor, right next to our sports district and not far from our waterfront park,” Delisle says. “We’re also creating an arts district and sustainable neighborhoods. We’re doing what we can in the public realm to make a downtown that businesses and residents will feel really good about moving in there.”

What’s Online For more about the economic development in Kentucky, visit kentuckyeconomicdevelopment.com.

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Thirst for Knowledge Northern Kentucky targets water technology cluster to technology, health-care and consumer products companies, and the 13-acre Ovation mixed-use development that will include 1.1 million square feet of office space and more than 1,000 housing units. Northern Kentucky Tri-ED is promoting the cluster in concert with the EPA, as well as the U.S. Small Business Administration, regional economic development

Newport Aquarium

groups, and local colleges and universities. “It’s part of a broader tech cluster – we’re focusing on bringing more advanced manufacturing technology business services to the area,” Finan says. “We’re trying to attract more companies with high-paying jobs for knowledgebased workers.” – Katie Kuehner-Hebert

Antony Boshier

Northern Kentucky has a river full of ambitions for developing an industry sector around water technology innovation. Northern Kentucky Tri-ED, lead economic development agency for Boone, Kenton and Campbell counties, is taking advantage of the Environmental Protection Agency’s research laboratory in Cincinnati to attract companies involved in the development, testing and commercialization of water. “Some of the targeted firms may be involved in the development of instrumentation for water analysis, water filtration or the measurement of water quality,” says Karen Finan, senior vice president for Northern Kentucky Tri-ED. “These companies, for instance, may test water quality for international companies or for governments, such as India or China, where the quality of drinking water is an issue.” Proponents see a Water Technology Innovation Cluster leading efforts to provide state-ofthe-art safeguards for clean water, develop breakthrough innovations in sustainability, and generate jobs and investment. Northern Kentucky’s riverfront has already attracted millions of dollars in investments, with such projects as the Newport Aquarium and Newport on the Levee, a 10-acre mixed-use center of entertainment, dining and retailers. Major projects in development include the $900 million mixeduse Manhattan Harbour, geared

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No Small Matter Kentucky offers resources aplenty for small businesses and entrepreneurs Story by Megan Pacella Photography by Antony Boshier

hen Kentucky legislators passed sweeping changes to the state’s economic incentive program, they didn’t leave small business out in the cold. Kentucky has put together an impressive roster of resources to promote the state’s 71,000 small businesses and entrepreneurs. The state offers a number of resources for small businesses, from financing options, to minority and women business certification, to services that allow small companies to connect to government contractors. “In Kentucky, small business is big business,” says Mark Johnson, branch manager of the Kentucky Cabinet for Economic Development’s Small &

Minority Business Branch. “That fact is accentuated by the number of new programs and initiatives that have been designed and launched to help small businesses. We’re doing more to help small businesses start and expand their operations.” Through the Kentucky Small Business Investment Credit (KSBIC) program, most businesses with 50 or fewer employees that create one job and invest $5,000 in new equipment or technology are eligible for a nonrefundable state income tax credit that ranges from $3,500 to $25,000. “The credit is retroactive, so if you purchased qualifying equipment and hired at least one eligible employee on or after Jan. 1, 2010, then you may be

ready to apply for a tax credit. The state has authorized $3 million in tax credits per fiscal year, so we are encouraging eligible small businesses to apply as soon as they meet all of the criteria.” The recently expanded Micro Enterprise Loan Program provides funding assistance, up to $50,000, to entrepreneurs and small businesses in the last remaining 26 Kentucky counties with little or no access to such services. The program aids firms that may find it difficult to access traditional funding and gives special emphasis to entrepreneurs in one of the following target groups: womenowned businesses, veteran-owned businesses, ethnic-minority owned

Cathy Zion is chair of the Kentucky Small Business Advocacy Commission and owner of Zion Publications in Louisville.

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K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

businesses, microenterprises (with five or fewer employees), businesses owned by individuals classified with disabilities, and businesses located in a Small Business Administration HUBZone qualified economically distressed area. “Small and micro businesses in all 120 Kentucky counties have an additional opportunity to obtain funding assistance,” Johnson says. “The difference between start-ups getting up and running or failing could be a loan of anywhere from $5,000 to $50,000. This helps give them the opportunity for capital.” Cathy Zion, chair of the Kentucky Small Business Advocacy Commission, says the state has been proactive in creating an environment for small business success through passage of business-friendly legislation and empowerment programs. Zion is a small-business owner herself, running a Louisville-based publishing company that produces Today’s Woman, Today’s Transitions, and Today’s Family magazines. The commission, although a fairly new organization, works to raise awareness of the importance of small business to the overall economy of Kentucky. One of the commission’s current efforts is development of a one-stop website that would provide resources, links, training and networking information for small business owners. Kentucky License Plate honors small business In late 2010, Gov. Steve Beshear announced an initiative to raise awareness of small business in Kentucky and celebrate the achievements of the state’s entrepreneurs. The initiative included a design competition for a state license plate that recognized Kentucky’s small businesses. The competition invited businesses with 50 or fewer employees to submit a design for a small

business-themed license plate. The winning design was created by Barry Arnold, lead designer for Gerald Printing, a 40-year-old business with locations in Bowling Green and Russellville, Ky., that currently employs 35 people. “Coming up with a visual representation of what small business means was a little more difficult than I expected, so I’m proud to have won for my design,” Arnold says. Joe Davis, the president of Gerald Printing, echoes Arnold’s excitement. “This is a great way to start off 2011 as we prepare to celebrate our 40th year in business,” he says. The state offers a number of other resources to assist small businesses. The Small Business Connection Database links Kentucky’s small businesses with buyers from government agencies and large businesses, giving entrepreneurs a unique opportunity to expand their business. Small businesses register and provide information about their capabilities. The information is used to match them with government agencies and large businesses looking for small and minority vendors. “That opens up small companies to opportunities they might have never found on their own,” Johnson says. The Small Business Services Division is working closely with the Finance & Administration Cabinet to promote the state’s new Minority and Women Owned Business Enterprise Certification Program. This program offers the opportunity for minorityand woman-owned firms to receive official certification status from the state. This certification can help raise the firm’s visibility among state government buyers, which may lead to additional contracting opportunities. “We’re excited about the opportunities for small businesses in Kentucky,” Johnson says, “and we’re dedicated to helping them take advantage of those opportunities.”

Clockwise from top: Joe Davis (left), president, and Barry Arnold (right), lead designer, at Gerald Printing display the winning design in a small-business license plate competition; Magazine covers at Zion Publications, a woman-owned business in Louisville; A Heidelberg press at Gerald Printing, a 40-year-old business with locations in Bowling Green and Russellville, Ky.; Gerald Printing currently employs 35 people.

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Marshall County

River. Road. Rail. We can get you there! Marshall County Economic Development Josh Tubbs, Director 1101 Main St. • Benton, KY 42025 (270) 527-2009 • Fax: (270) 527-4795

www.opportunitymarshall.com

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Business Without Borders Kentucky expands export services for small and mid-size companies Kentucky’s small businesses, searching for ways to break into the export market, have found an ally in state government. In December 2010, Gov. Steve Beshear launched a statewide export initiative to support the Commonwealth’s small and medium-size businesses working to launch or expand export activity. The Governor’s Kentucky Export Initiative is a collaborative effort among seven leading groups that promote international trade: • Kentucky Cabinet for Economic Development, the state’s lead economic development organization • Kentucky World Trade Center • U.S. Department of Commerce • Kentucky Chamber of Commerce • Northern Kentucky International Trade Association • U.S. Chamber’s TradeRoots Members of the Kentucky • Kentucky Association of Manufacturers Export Initiative are working to raise awareness, provide training, identify potential markets and connect companies from across the state with the people, events and opportunities that can help them grow. Alliance members join forces with regional and sector-specific strategic partners to educate qualified small and medium-size businesses about the impact of exporting, as well as provide information on new markets; identify potential distributors, agents and end-users; and assist in other areas, such as compliance, logistics and legal issues. Companies that participate in the Kentucky Export Initiative are eligible for advice and counsel on identifying foreign markets for their products, understanding price structures in international trade, forming strategic partnerships, shipping goods, ensuring receipt of payment and legal advice about exporting. For more information on this program, go to www.kyexports.com. – Megan Pacella

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Kentucky

Vintage Kentucky State cultivates a reputation for award-winning wines Story by Kevin Litwin

entucky has elevated bourbon making to an art form, but the state is gaining a growing reputation in grape growing and winemaking. Vineyards and winemaking in Kentucky are not only gaining national and international attention, but are also creating new economic opportunities by the barrel. Today, the Commonwealth is home to some 50 wineries, most of which offer tours and tasting rooms, and the opportunity to purchase their wines. A growing number of retail establishments in the state offer Kentucky-made wines, and festivals throughout the state celebrate the

industry – including the Kentucky Derby. Plus, the largest commercial wine competition in the Bluegrass State takes place each August at the Kentucky State Fair in Louisville. “Kentucky’s climate and topography are well-suited to grape cultivation, with the limestone bedrock and rolling hills lending themselves to grape growing,” says Bob Adams, communications specialist with the Kentucky Department of Travel. “There are about 50 wineries and more than 500 acres devoted to grape cultivation in Kentucky.” Bottle Ground state Adams says the Kentucky Department of Travel promotes

wineries through its website, www.kentuckytourism.com ,

and Official Visitor’s Guide. “Both have individual listings of wineries throughout the state with information about tours and tastings and contact information,” he says. “We’ve also promoted wineries through social media and news releases.” Winemaking is certainly not new to Kentucky, with the state having become the nation’s third-largest grape and wine producer by the late 1800s. Prohibition put Kentucky’s grape and wine industry out of business, but legislation was passed in 1976 to allow wineries to operate once again. The state’s wineries are capturing

The award-winning Purple Toad Winery in Paducah sold 33,000 bottles of wine in 2010. photo by antony boshier

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Antony Boshier

J e f f A d k i ns J e f f A d k i ns

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

J e f f A d k i ns

notice at numerous competitions. Purple Toad Winery in Paducah received a gold medal for its Estate Grown Lauren’s Blackberry and also was awarded four silver medals at the Florida State Fair International Wine Competition in 2011. Lovers Leap Vineyards & Winery in Lawrenceburg won a Concordance gold medal for its riesling, and Wight-Meyer Vineyard & Winery in Shepherdsville won a Concordance gold medal for its Winter Solstice at the Wines of the South annual regional wine competition in 2011. Kentucky wineries brought home 32 medals, including two double golds, five golds, 12 silver and 12 bronze medals at the Indy International Wine Competition in August 2010 in West Lafayette, Ind.

Berry Good vintages Purple Toad Winery, which opened in Paducah in July 2009, sold an amazing 33,000 bottles in 2010. Paducah Blue, a sweet concord that retails for $12.99 a bottle, is the winery’s best seller, says Allen Dossey, who owns Purple Toad Winery with his wife, June. Other top sellers among the winery’s 14 varieties are Paducah Peach and Lauren’s Blackberry. Dossey says Kentucky’s climate and soil are ideal to grow grapes for cabernet sauvignon, cabernet franc, riesling, pinot noir, merlot and chardonnay. “We can grow just about anything k e n t u c k y e c ono m i c d e v e lop m e n t . c o m

B r i an M c C o r d

A bottle of cabernet sauvignon from Equus Run Vineyards in Versailles

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that Napa Valley can grow,” he says. “The only real difference is that it doesn’t rain much in Napa, while we get plenty of rain in Kentucky. As a result, we have to spray more fungicides to combat the excess wetness.” purple Toad Sells Wight-Meyer Vineyards planted 53 small grapevines in 1996 and today bottles 19 different wines. And at Sinking Valley Winery in Plato, 11 varieties are available to the public ranging from $8.99 to $14.99 a bottle. “One good winemaking rule I learned early is that if you feature an animal on your label, you will sell 7 percent to 11 percent more wine each year,” Dossey says. “I don’t know why that is, but maybe it’s a big reason why we’re doing so well at Purple Toad Winery. Of course, it could be the fact that our wine tastes great, too.”

Kentucky Wine Facts

50 Number of Kentucky wineries

500 Kentucky’s grapevine acreage

100,000 Cases of Kentucky wine produced annually

200,000 Gallons of wine produced in Kentucky annually www.kentuckywine.com

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From Horses to Horsepower Kentucky Speedway revs up for NASCAR Sprint Cup race 56

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P h o t o C o u r t e s y o f t h e k e n t u ck y sp e e d way

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Story by Betsy Williams

ore than 100,000 cheering fans, an anticipated economic impact of more than $150 million and the biggest names in stock car racing – no wonder excitement is revving up in the Bluegrass State. The NASCAR Sprint Cup Series premiers at the Kentucky Speedway July 9, 2011. “Kentucky is the hottest ticket we’ve got of all the speedways right now,” says Bruton Smith, owner of Speedway Motorsports Inc. He predicts the Quaker State 400 race will be the biggest event of the circuit in 2011. The 1.5-mile track becomes the 23rd motorsports facility on the 36-race NASCAR Sprint Cup Series schedule, and the first facility to be added to the national tour since 2001. Sprint Cup Goal Realized Constructed in 2000 with the goal of landing a Sprint Cup race, the already top-notch Kentucky Speedway track and facilities are being spruced up in preparation for the event. “We’re talking about close to $50 million worth of work being put into place in about eight or nine months,” says Mark Simendinger, general manager. The work includes adding 40,000 seats in two new seating towers, including concessions and restrooms, adding thousands of new camping spots, new elevators, additional restrooms, improved parking and more. In addition, pit road is being relocated closer to the fan viewing area. Changes to the track itself are not needed to accommodate the event. The NASCAR Sprint Cup Series premiers at Kentucky Speedway in Sparta in 2011.

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More Than 100,000 Fans Expected The race is expected to draw spectators from throughout Kentucky, Ohio, West Virginia, Indiana and Tennessee to see Dale Earnhardt Jr., Jeff Gordon, Tony Stewart, five-time champion Jimmie Johnson and their fellow Sprint Cup Series stars compete in the 400-mile race in July. The event is the highlight of the Kentucky Speedway’s season-opening weekend, which also features a 225mile NASCAR Camping World Truck Series race July 7 and 300-mile NASCAR Nationwide Series event July 8. “The passionate NASCAR fans throughout Kentucky and Greater Cincinnati have deserved a Sprint Cup race for a long time,” Smith says. “Before this, Kentucky was about horses, but now, it’s all about more horsepower. We’re going to create the grandest sporting event in the history of the state.” A bold claim, but NASCAR Sprint Cup races are some of the nation’s most popular annual sporting events, and the sport is the second-most watched on television. If the fast sale of all 32 luxury suites at approximately $50,000 each is any indication, the 106,000 seats in the Kentucky Speedway’s grandstand should be full.

kentucky speedway by the numbers

Money Into the Economy Thousands of fans attending the race will also spend money in hotels, restaurants and shops. “The level of economic activity and the focus that’s going to be on our area is going to be unprecedented,” Simendinger says. Gallatin County Judge-Executive Kenny McFarland says the potential economic impact of more than 100,000 people is exciting, and so is the national recognition of the county and Kentucky. And Gallatin County will be ready for the visitors, he says. “Just like any community, we expect to learn and prosper from an event like this,” he says. “We wish the Kentucky Speedway the very best.” Smith, noting a recent study showing that Atlanta Motor Speedway in Georgia has an economic impact of more than $450 million, adds, “We’ll get at least half that here, and maybe more.”

$150 million Expected economic impact of race

1.5 miles Length of Kentucky Speedway track

106,000 Fans expected at race

400 miles Length of Quaker State 400

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Road to the Stars Country Music Highway celebrates the birth of a genre The Eastern Kentucky hills are alive with the sound of country music. The voices of Loretta Lynn, The Judds and Tom T. Hall still echo along a mountain road that stretches 144 miles through Eastern Kentucky, a region that was once home to country music stars Ricky Skaggs, Patty Loveless, Dwight Yoakam and several more. Kentucky leads the nation in developing tourism based on the personal, authentic experience of a regionâ&#x20AC;&#x2122;s culture, and U.S. Route 23 is a prime example of why cultural tourism is so appealing. Designated as Country Music Highway, the route celebrates the lives of the country music stars who grew up in the region.

Visit Museums, See Performances Visitors often begin their tour in Ashland, home to the Paramount Arts Center and the Highlands Museum & Discovery Center. The museum provides an introduction to the culture of Eastern Kentucky music, while the Arts Center offers a chance to enjoy a live performance. In summer 2011, the center will host the annual Kentucky Music Trail event. Traveling south to Paintsville leads to the Country Music Highway Museum with exhibits of memorabilia from the stars. Nearby is Van Lear and Butcher Hollow, where Loretta Lynn and her sister, Crystal Gayle, grew up. Farther south in Prestonsburg, the Mountain Arts Center houses the Kentucky Opry, a nationally recognized group of local musicians who perform and work to preserve the tradition of Eastern Kentucky mountain music. â&#x20AC;&#x201C; Betsy Williams

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Photo Essay

Underwater Wonders

Photography by Antony Boshier and Jeff Adkins

On the banks of the Ohio River, just a couple of minutes from downtown Cincinnati, lives thousands of animals from all over the world in 1 million gallons of water. The Newport Aquarium in Newport, Ky., features 70 exhibits and 14 galleries, including more than 200 feet of underwater viewing tunnels. Frogs, penguins, alligators, jellyfish and sharks are just some of the wildlife available to watch â&#x20AC;&#x201C; and maybe even touch. The Newport Aquarium is open 365 days a year. For more information, visit www.newportaquarium.com.

Kentucky

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Energy/Technology

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From Bluegrass to Switchgrass University research promotes biomass breakthroughs Story by Pamela Coyle

Dr. Bruce Pratt works on creating biofuels from switchgrass and algae at the Center for Renewable and Alternative Fuel Technologies at Eastern Kentucky University. photo by Antony Boshier

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he road from switchgrass to jet fuel passes through Richmond, where a new research center at Eastern Kentucky University is working on ways to break down biomass materials for fuel production. The Center for Renewable and Alternative Fuel Technologies (CRAFT) is helping develop and demonstrate ways to convert biomass materials into sugars used by microorganisms

that produce oil for biodiesel and JP8 jet fuel. The center is using the technology to produce oil in its labs, and is raising money for a demonstration plant that can produce batches of 50 to 100 gallons at a time. Launched in 2008, the center is backed by two federal grants totaling $5.75 million from the Defense Logistics Agency and has partnered with General Atomics, a San Diego-

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based company and major player in research ranging from the nuclear fuel cycle to laser technologies. CRAFT has 60 acres at three sites, including 20 in a partnership with the city of Winchester, to cultivate switchgrass. Once the demonstration plant is online, Green Earth Biofuel of Kentucky, based in Irvine, will test the oil produced for potential use in its process for producing diesel fuel.

“In many cases, we have made more progress than I would have dreamed of,” says Bruce Pratt, the center’s director.

“I look forward to using a feedstock for fuel production that doesn’t affect the food supply.” Both Food and Fuel Growing switchgrass for fuel production won’t compete with traditional agriculture because these projects target fallow land and other areas that don’t work well for growing food crops. Once CRAFT has a pilot

P h o t o C o u r t e s y o f R i c h ar d Ol d , XID S e r v i c e s , Inc . , B u g w o o d . o r g

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From Algae to Oil The center, known as CRAFT, will break down sugars in feedstock, such as switchgrass, and feed it in tanks to a specific type of algae that produces algal oil. Some biomass projects are

using yeast to convert sugars from switchgrass into ethanol, but CRAFT’s target is oil. “If you take that stored energy in plant material and release it, it produces oils,” Pratt says. “That is the holy grail of this process.” The folks at Green Earth Biofuel agree. “It’s obvious that algae is the direction we have to go,” says Montie Parks, president of Green Earth.

Clockwise from left: Holding tanks at Green Earth Biofuel of Kentucky in Irvine; Center for Renewable and Alternative Fuel Technologies at Eastern Kentucky University; Switchgrass

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switching to something cheaper producing switchgrass for use in biofuel is cost-effective for kentucky Research under way at the Center for Renewable and Alternative Fuel Technologies at Eastern Kentucky University is assessing current and potential sources of biomass in the state, including the economics and environmental impacts. A commercial biorefinery with a capacity of 50 million gallons of biodiesel per year is estimated to have a total economic impact of $480 million with about 2,000 jobs created. Switchgrass as the primary

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biomass crop will cost an estimated $64 per ton to produce using existing technology of large round bales and on-farm storage and transport an average distance of 25 miles to a refinery. Compared with other regions, producers in central Kentucky are likely to have a solid cost advantage in producing switchgrass. Source: Center for Renewable and Alternative Fuel Technologies, Eastern Kentucky University

plant, it will reach out to private landowners to work out arrangements to use or lease land that won’t support other crops. “In each geographic region of the Commonwealth, we try to take advantage of local resources,” Pratt says. “We feel that by growing biomass, such as switchgrass, it will minimize the impact on agriculture so there is no argument over food versus fuel.” It helps that switchgrass is a native plant and not an invasive species imported from elsewhere, he says. “We are going to need to have public support and buy in, and it is a lot easier to get with a native plant,” Pratt says. “Switchgrass provides wildlife habit and prevents soil erosion. It has a lot of advantages.” For Pratt, whose background is in agriculture, the project extends the techniques he’s worked with to improve food crop yields to improving both the algae and the feedstock. It also is in the right place. “Biomass is what made this part of Kentucky,” he says. Green With Promise Global animal nutrition leader Alltech has opened the $200 million Alltech Algae plant in Winchester. Alltech Algae is a state-of-the-art algae fermentation facility acquired in 2010 from Martek Bioscience Corp. for approximately $14 million and renovated to become one of the largest algae production sites in the world. Development of products at the facility derived from algae will be used for value-added feed products, algaederived biofuel and the production of ethanol. Lexington-based Alltech sees algae fermentation offering major technological advances in food, feed and fuel.

There is more to

Paris/Bourbon County, Kentucky than horses

Paris/Bourbon County, Kentucky is located in the heart of the Bluegrass Region about 17 miles from Lexington and is part of the Lexington Metro Statistical Area, ranked fifth in the nation of “Best Places for Business and Careers,” March 2008 Forbes magazine. Paris is connected to Lexington by four-lane (KY68/27), which won national awards for its design and beauty. The new industrial park is no exception! That’s straight from the horse’s mouth. • More than 200 Acres “Shovel Ready” Industrial Land Available • 14.7 Miles off Interstates 64 and 75 • Some of the Nation’s Lowest Utility and Tax Rates • Local Rail Hopper and Warehousing Service • 47 Colleges, 22 KY Technical Schools within Region • Diverse and Thriving Industrial Base For more information, contact: D. Craig McAnelly, Executive Director 525 High St., Suite 117 Paris, KY 40361 • (859) 987-3703 cmcanelly@bgadd.org

www.parisbourboneda.com

Can you imagine … a world without children?

We Can’t.

Call 1-800-996-4100 to help. www.stjude.org

Algae and switchgrass offer promise as new fuel sources.

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Transportation

From Kentucky to Everywhere Transportation system makes the state a distribution powerhouse

Story by Kevin Litwin Photography by Antony Boshier

hen UPS established itself in Louisville in 1982, company officials cited the excellent transportation system as a key reason for settling in the city. The hub is next to Louisville International Airport, with easy access to Interstates 65 and I-71 that allow trucks to easily transport packages to and from the airport. UPS started with 150 employees in Louisville and has recently completed a $1 billion expansion of its Worldport airport headquarters, creating

thousands of new jobs. UPS officials say that Louisville continues to be the best possible location for their operations and the expansion. “Louisville is the farthest western portion of the Eastern time zone and already has the infrastructure in place,” says Tom Volta, UPS vice president of human resources in Louisville. “And the economy in Kentucky is not subject to high swings. It stays pretty level.” UPS is among thousands of companies in Kentucky that utilize

UPS is expanding its massive Worldport cargo operations in Louisville.

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the state’s major transportation assets to distribute products. Kentucky is served by five interstates (I-24, I-64, I-65, I-71, I-75) along with nine parkways and three bypasses, plus there are more than 2,600 miles of railway for transporting cargo. Companies Coming Several large corporations, such as Amazon.com, Brown-Forman, Walmart and shoe retailer Zappos, have substantial distribution operations in Kentucky. Tractor Supply Co. is building an 840,000-square-foot distribution facility in Franklin to service the mid-eastern United States. E-commerce clothing company, Sportswear Inc., announced in February 2011 that it will open a new manufacturing and distribution center in Louisville. Chad Hartvigson, Sportswear CEO, says Louisville’s affordable cost of living, expansive labor pool and logistics provide a strategic advantage for the company to expand its manufacturing and product fulfillment services. “This expansion will allow us to significantly decrease our costs and, at the same time, provide a shorter delivery time to our customers,” he says. Kentucky has three major commercial airports – Louisville International, Cincinnati/Northern Kentucky International and Blue Grass Airport in Lexington – along with a large number of regional facilities throughout the state. International freight mover DHL Express operates an air cargo and package sorting facility at Cincinnati/Northern Zappos, the world’s largest online shoe seller, operates a facility in Shepherdsville.

Kentucky Transportation Facts

163

140

Business sites in Kentucky within 10 miles of an interstate highway or parkway

Business sites within 50 miles of a commercial airport

Business sites equipped with rail service possibilities

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Kentucky, where it schedules more than 65 daily flights to 220 international destinations. The Water’s Fine Water transportation also plays a large role in Kentucky’s economy, thanks in large part to being bounded by the Ohio and Mississippi rivers. That helps Kentucky rank 10th overall nationwide for port tonnage. “Many people think Kentucky riverports deal only with grain and coal, but our particular facility mainly handles items like steel, aluminum, zinc and fertilizer,” says Greg Pritchett, executive director for the Henderson County Riverport Authority. “We have many U.S. customers, along with international clients in China, Turkey, Egypt, South Korea and the Middle East.” Kentucky has seven public riverports and a handful of privately owned port facilities. Pritchett says if a company has products that can be loaded on pallets or in large cylinders, then shipping by barge is the cheapest form of moving commodities from point A to point B in Kentucky. “Utilizing the Ohio or Mississippi River is a huge transportation advantage for any company that can access them,” he says. Gilt, Dorman and Sun Another company to come to Kentucky thanks to the state’s logistics advantages is Gilt Groupe, which opened a warehouse in Shepherdsville to distribute men’s and home merchandise items. Dorman Products, an automotive replacement parts supplier in Warsaw, is investing $9.3 million to expand its existing distribution center, while Sun Products is investing $10.8 million to construct a distribution center in Bowling Green for its line of laundry care products. “No matter what transportation method a company uses, Kentucky has excellent infrastructure across the board for transporting products,” Pritchett says.

Kentucky boasts five interstates and superior water shipping capabilities.

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Health & Biotechnology

Breeding Innovation Equine industry spurs investment, growth in Kentucky

Story by Megan Pacella Photography by Antony Boshier

t’s with good reason that Kentucky is known as the Horse Capital of the World. The Bluegrass State’s $4 billion equine industry supports 80,000 to 100,000 jobs. Beyond its core strengths in breeding and racing, the industry is spurring major advancements in areas such as equine business development, drug surveillance and scientific research that has implications beyond horses.

and headquarters in Lexington. Beyond its leading-edge testing programs, the USEF is taking the reins on a number of other research partnerships. One example is its work with the U.S. Eventing Association and University of Kentucky’s College of Engineering in efforts to develop new designs and materials for cross-country jumps that will greatly decrease the chance of severe injuries to rider and horse.

Kentucky at center of Equine Drug Research The U.S. Equestrian Federation’s (USEF) Equine Drug Testing and Research Lab relocated to Lexington from Ithaca, N.Y., in fall 2010. The lab, which located in 7,500 square feet at the University of Kentucky’s Coldstream Research Campus, tests more than 15,000 samples each year for USEF-licensed events, as well as samples for the American Quarterhorse Association. The USEF invested $1.5 million in the lab, which joins the federation’s other operations

state-of-the-art Science In late 2010, HFL Sports Science opened a testing laboratory in Lexington, bringing with it more than 40 years of experience in the science of sports drug testing. The state-of-the-art laboratory created 48 jobs providing drug surveillance, doping control, and research to equine and other sports industries nationwide. The Kentucky Horse Racing Commission selected HFL to provide drug testing for Kentucky race tracks beginning in 2011. The lab project represented an

investment of $4 million and was aided by the Kentucky Economic Development Finance Authority (KEDFA), which approved a forgivable loan of up to $425,000 to help HFL purchase lab equipment for the Lexington facility. KEDFA also approved a tax incentive plan that provides HFL up to $800,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investments over a 10-year period through corporate income tax credits and wage assessments by meeting job and investment targets. More than two dozen of the jobs created by the lab are high-tech positions that carry an average annual salary of $47,000, exclusive of benefits. HFL also is collaborating with the University of Kentucky on research to improve basic understanding of issues related to doping control in equine, canine and human sports. The University of Kentucky’s Gluck Equine Research Center is known

Researchers test tissue samples at the U.S. Equestrian Federation’s Equine Drug Testing and Research Laboratory in Lexington.

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J e f f A d k i ns

Kentucky’s horse industry is creating world-renowned facilities, such as at the University of Kentucky’s Gluck Equine Research Center.

Horse Sense Impact of the equine industry on Kentucky

$4 billion Estimated economic impact

80,000100,000 Number of jobs generated by Kentucky’s horse industry

14,600 Number of tourism-related jobs attributed to the equine industry

2.3 million Estimated attendance at Kentucky thoroughbred and standardbred racetracks

around the world for its pioneering work in areas such as immunology, infectious diseases, pharmacology, muscoskeletal physiology and genomics. In 2005, for example, Gluck researcher and veterinary science professor Ernie Bailey was the author of a white paper proposal that lead to full genome sequencing of the horse by the National Human Genome Research Institute, enabling not only a direct comparison of the horse and human genomes, but providing equine researchers access to critical new information and genetic tools. Deepening the knowledge of equine nutrition and exercise physiology is Kentucky Equine Research (KER), which is based at a 144-acre facility in Versailles, near Lexington. KER’s research team includes nutritionists holding doctorate degrees in equine nutrition, board-certified veterinary specialists, students studying equine nutrition and experienced horse owners. The company, the official nutritionist to the USEF, works with feed manufacturers on six continents

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to formulate feeds that mesh with the local forage. Lexington is not the only center of equine-related commerce in the state. A subsidiary of Louisville-based CreoSalus is making great strides in the equine drug industry. The Food and Drug Administration gave approval to CreoSalus’ Thorn BioScience subsidiary to market its new drug, SucroMate Equine, to the horse industry. SucroMate Equine increases the likelihood of conception in mares during natural breeding and artificial insemination. dollars and horse sense While much of the recent developments surrounding Kentucky’s equine industry revolve around heavy scientific research and drug testing, the University of Louisville has positioned itself as a major resource for equine business. The university’s College of Business is expanding its equine industry program in 2011 to include a state-of-the-art educational wing. Faculty at University of

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Louisville aim to increase the opportunities for business management research. “Our program is the only accredited business degree with an equine business major in the world,” says Richard Wilke, director of the Equine Program at the university. The program aims to deliver research that will help solve management issues and other challenges often faced by those in the equine industry, and make that applied research widely available. “Over the past 25 years, our research has been esoteric – it has been made for scientific journals, not for business people,” Wilke says. “Our new center will emphasize applied research that brings relevant value to the people who own and manage enterprises in the equine industry.”

Not-So-Dirty Jobs

Researchers examine cells at the Gluck Equine Research Center in Lexington.

Kentucky’s equine research industry received national attention via the hit Discovery television program Dirty Jobs. The show initially planned to focus on the necessary, but less-than-glamorous, task of collecting fresh urine and feces from horses for feeding trials at Kentucky Equine Research’s facilities in Versailles, but producers found the work of the center so interesting that the show was expanded to an hour to include material on the vast equine nutrition research efforts under way at the center. Founded in 1988, KER works with feed manufacturers globally to formulate top-quality feeds that complement typical forages found in the locale. For more on KER, go to www.ker.com.

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Education

Today’s Classroom, Tomorrow’s Job Kentucky colleges and universities prepare students for emerging fields

Story by Kevin Litwin

entucky’s quality higher education institutions are part of the backbone of the state’s economic success. More than 238,000 students are enrolled in undergraduate programs at the Commonwealth’s public and private colleges, and another 32,000 are in graduate programs. The Bluegrass State has built a top-flight public university system, with eight campuses spread across the state that not only produce highly skilled graduates across a range of disciplines, but house major research initiatives that work collaboratively with private industry and government. They are also breeding grounds for new technology and innovation. In addition, Kentucky is home to a network of 16 community and

technical colleges with 65 campuses, and all of them provide education and skills training to prepare students for jobs in emerging industries or sharpen the skills of those already in the workforce. Centre of Attention Twelve Kentucky schools ranked among a list of 600 colleges and universities identified by Forbes magazine and the Center for College Affordability and Productivity as America’s Top Colleges. Leading the charge for Kentucky schools was Centre College, which ranked No. 24 among the nation’s colleges and universities. Centre, located in Danville, has also been listed No. 1 among all institutions of higher education in the South for two years

in a row. In addition, Consumers Digest ranks Centre College No. 1 in educational value among all U.S. liberal arts colleges. “We have 1,200 students and are big advocates of preparing for the workforce, even to the point of setting up every student with an internship at a company affiliated with their major,” says Deb Jones, director of career services at Centre College. “Not many liberal arts private colleges in the United States have this service, but we offer internships to every one of our students, regardless of their major or department. The internship program is what attracted me to work at the college in the first place.” Jones adds that Centre professors actually add several workforce development factors into their

Berea College was named one of America’s Best Colleges in 2010 by Forbes magazine. p h o t o b y an t o n y B o s h i e r

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America’s Best Colleges in 2010 Forbes placed a dozen Kentucky colleges and universities on its list of America’s Best Colleges in 2010. The annual ranking – compiled by Forbes and the Center for College Affordability and Productivity – rates 610 undergraduate programs out of 6,600 accredited U.S. colleges “based on the quality of the education they provide, the experience of the students and how much they achieve.” • No. 24: Centre College • No. 210: Berea College • No. 255: Transylvania University • No. 271: Bellarmine University • No. 335: Asbury College

Antony Boshier

• No. 380: Georgetown College • No. 481: Murray State University • No. 504: University of Louisville • No. 507: University of Kentucky

lesson plans, knowing that companies seek certain character traits and talents in prospective employees. “Our professors blend oral and written communication skills into their classroom sessions, and also teach lessons in workplace reliability, work ethics, motivation, time management and prioritization,” she says. “We partner with a lot of businesses in our community to make sure our students are on track toward eventually landing top jobs in the hottest career fields.” Info About Informatics Another higher education institution focused on workforce initiatives is Northern Kentucky University, which in 2011 moved its College of Informatics into a new $53 million Griffin Hall building on campus. The College of Informatics allows aspiring artists, musicians, doctors, entrepreneurs and scientists to come together to learn about technology and how it will take their fields to the next level. Fortune magazine says nine of the 20 fastest

growing professional jobs in the next decade will be found in the field of informatics. The program at NKU offers students the opportunity to learn everything from protecting businesses from computer hackers to producing a highly advanced digital newscast.

• No. 517: Northern Kentucky University • No. 551: Western Kentucky University • No. 556: Eastern Kentucky University

Cutting the Lawn on Campus Berea College also emphasizes training students for the workforce – and actually has them working the very first day that they arrive on campus. Every Berea College student is awarded a tuition scholarship, but is expected to work his way through school. Students are assigned jobs on campus for their first year – whether it be landscaping, painting, lunchroom duty, maintenance or working in the library. After the first year, students can choose their own job path. “Berea College is a place of learning, labor and service. Students are bright, eager and open to developing to the fullest of their talents and skills,” says Larry Shinn, Berea College president.

Left: Centre College in Danville Above: Berea College students are assigned jobs on campus their first year.

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Kids With a Gift WKU is home to program for talented youngsters and advanced in their learning, and a lot of our focus is preparing them to be a part of future economic development in Kentucky,” says Julia Link Roberts, executive director of The Center for Gifted Studies. The center is celebrating its 30th anniversary in 2011, and to date, more than 28,000 young people from all 50 states and 33 countries have attended the CGS summer and Saturday programs. Each Saturday session can accommodate 620 students, while the summer camps can accept 225. “The center believes that when gifted young people meet their extraordinary potential, our communities, our state, our nation – even our world – become better places,” Roberts says.

WKU Campus Is Busy Also housed on the WKU campus is the Gatton Academy of Mathematics and Science in Kentucky. The academy allows advanced high school juniors and seniors to stay on campus during an academic year for the purpose of completing their high school academic requirements while earning college credit. “And now for the next five years, the WKU campus will also be home to the World Council for Gifted and Talented Children international headquarters, which establishes the guidelines for gifted studies programs globally,” Roberts says. “Advocating gifted education is what we are all about.” For more about WKU, visit www.wku.edu. – Kevin Litwin

P h o t o C o u r t e s y o f C ara P i t c h f o r d

Although Western Kentucky University is a college campus, a lot of elementary, middle and high school students enroll in programs there as well. The university in Bowling Green has long been home to The Center for Gifted Studies, which gives advanced students in grades 1-8 the opportunity to participate in challenging classroom programs at WKU. Students accepted into the program participate in academic sessions during four consecutive Saturdays throughout the year. In addition, a two-week academic camp, as well as a three-week camp, are offered each summer to advanced students in grades 6-11. “We make sure students have opportunities to be both creative

Students at the Center for Gifted Studies at Western Kentucky University in Bowling Green

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Livability

Life of the Party Kentucky festivals celebrate heritage, food, music and more

Story by Kevin Litwin

P h o t o C o u r t e s y o f W i ll i e Macl e an f r o m B i r d ’ s E y e P h o t o g rap h y

ourbon, barbecue and bluegrass are all good reasons to have a festival in Kentucky. The Commonwealth celebrates all manner of its culture, heritage and history each year with signature events that occur from one end of the state to the other. Food is always a popular item to plan a festival around, and so is music and heritage – and Kentucky has numerous other subjects to observe. “Kentucky is a state with interesting history and heritage,” says Bob Adams, communications specialist with the Kentucky Department of Travel. Adams points out there are never shortages of fun festivals celebrating something or someone in Kentucky,

with a diversity of subjects that include the Civil War, fall foliage, wine, horses and the great outdoors. Some of the signature events held in Kentucky each year include: Kentucky Derby It might not specifically be categorized as a festival, but the Kentucky Derby is certainly one of the biggest parties staged in the state – and America – each year. The premier race for 3-year-old thoroughbred horses annually draws 150,000 fans to historic Churchill Downs in Louisville on the first Saturday in May. The Kentucky Derby Festival, held for two weeks prior to the race, includes more than 70 special

The annual Forecastle Festival in Louisville celebrates art, music and filmmaking. k e n t u c k y e c ono m i c d e v e lop m e n t . c o m

events, draws 1.5 million people each year and is the largest event in the state. International Bar-B-Q Festival Hickory-smoked fires are ablaze every second weekend in May when Owensboro hosts the International Bar-B-Q Festival. The aromas of sizzling chicken, bubbling burgoo and roasted mutton fill the air, plus the festival offers musical

entertainment, sporting events, a kid’s zone and other attractions. World Chicken Festival Laurel County was the home of Col. Harland Sanders, founder of Kentucky Fried Chicken, and is where the Colonel’s first and original restaurant was established in the 1940s. Lee Cummings, co-founder of Lee’s Famous Recipe Chicken, also began his career in Laurel

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

County, so the county seat city of London proudly hosts the World Chicken Festival for four days every September. Festival of the Bluegrass This get-together is the oldest bluegrass music festival in the state, and the June 2011 four-day concert will be the 38th annual. Festival of the Bluegrass attracts bluegrass groups from across the country and the

P h o t o C o u r t e s y o f www. k e n t u ck y t o u r i s m . c o m B r i an M c C o r d P h o t o C o u r t e s y o f b o b o r o s h i v i a f l i ckr

Clockwise from left: Kentucky Derby in Louisville; International Bar-B-Q Festival in Owensboro; Kentucky Bourbon Festival in Bardstown, the Bourbon Capital of the World

in good company kentucky communities gain notice around the nation Kentucky can claim many superlatives as an excellent place to work – and also as a place to live. The state’s communities are compiling an impressive resume of national recognitions, such as: • Business Facilities magazine ranked Lexington No. 7 among major U.S. metros for its quality of life in 2010.

• Lexington and Louisville were named to RelocateAmerica’s Top 100 Places to Live in 2010. • Money magazine named Owensboro to its top 100 Best Places to Live list, and ranked Lexington No. 3 on its Best Place to Retire list in 2010. • Forbes ranked Frankfort No. 20 nationally on The Best Small City to Raise A Family in the South list in October 2010.

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world, with entertainment occurring on two stages at the Kentucky Horse Park in Lexington. Forecastle Festival Louisville is host to this annual three-day festival in July that celebrates art, music and filmmaking. The Forecastle Festival mission is to establish an annual cultural destination in an outdoor setting that merges entertainment with activism education. Outside magazine rates Forecastle as one of the top 15 outdoor festivals in the country.

Other Big Events Other top events in the Commonwealth each year include the Kentucky Bourbon Festival in Bardstown, the Autumn Art and Crafts Festival in Crittenden in mid-September, and the Wayne County Fair & Horse Show in Monticello for nine days in July. In March, the happiest two-day festival this side of New Orleans occurs in Louisville at the Biggest Mardi Gras Festival. Hats Off to Louisville The International Festivals &

Events Association honored Louisville in December 2010 with the inaugural World Festival & Event City Award. Louisville was honored as the top city in North America for supporting festivals and special events, in the more than 1 million population category. Some of Louisvilleâ&#x20AC;&#x2122;s annual festivals include the 18th Century Market Fair, Art in the Arbor, Biggest Mardi Gras Festival, Forecastle Festival, Kentucky Derby Festival, Kentucky Shakespeare Festival and the Kentucky State Fair.

Below: Forecastle Festival in Louisville Right: Checking a kettle of burgoo at the International Bar-B-Q Festival in Owensboro

K e n t u c k y E c ono m i c D e v e lop m e n t G u i d e

Join us in

Monroe County,

P h o t o C o u r t e s y o f www. k e n t u ck y t o u r i s m . c o m

the Heart of Southern Kentucky

Proud of our Heritage, focuSed on tHe future • Centrally located within a day’s drive of 60% of the U.S. population • A labor force ready and willing to work • Industrial parks (shovel-ready) and spec building • Modern airport with 4,000 ft. runway • Low-cost power and abundant water • Economic development incentives • Award-winning schools • Quality health care • Relaxing rural atmosphere, traditional Southern hospitality • Spectacular natural beauty with rivers and streams, hardwood forests and rolling hills • Outdoor recreation, including the best hunting and fishing anywhere around • Rich in pioneer and Civil War history

explore the opportunities in Monroe county, KY P h o t o C o u r t e s y o f W i ll i e Macl e an f r o m B i r d ’ s E y e P h o t o g rap h y

Tompkinsville • Gamaliel • Fountain Run

40 miles east of I-65 125 miles south of Louisville 120 miles west of I-75 60 miles east of Bowling Green 50 miles north of I-40 90 miles north of Nashville 25 miles south of the Cumberland Parkway

(270) 487-1314 www.monroeky.com www.southcentralky.com/ about_our_region/monroe_county/

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100 K e n t u c k y

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economic profile TRANSPORTATION

Business snapshot

Audubon Parkway

Kentucky boasts industrial electricity costs that are consistently among the lowest in the nation, a tax structure that’s among the most competitive in the region and an ideal location within 600 miles of two-thirds of the U.S. population. The Commonwealth is home to nearly 400 international companies and thousands more domestic companies. Seventeen of the Fortune 25 largest U.S. corporations and 10 Fortune 25 largest global corporations operate out of Kentucky. In addition, Kentucky ranks third in total light-vehicle production in the country.

Martha Layne Collins Blue Grass Parkway

Commercial Airports

Interstates I-24, I-64, I-65, I-71, I-75, I-264, I-265, I-275, I-471 State Parkways (nine total)

Louie B. Nunn Cumberland Parkway Daniel Boone Parkway/ Hal Rogers Parkway Bert T. Combs Mountain Parkway

Income

Cincinnati/Northern Kentucky International Airport www.cvgairport.com Blue Grass Airport www.bluegrassairport.com

$40,061

Median Household Income (2009 U.S. Census Bureau SAIPE data)

$33,348

Edward T. Breathitt Pennyrile Parkway

Louisville Regional Airport Authority www.flylouisville.com

Julian M. Carroll Purchase Parkway

Owensboro-Daviess County Regional Airport, www.owb.net

TAXES

Wendell H. Ford Western Kentucky Parkway

Barkley Regional Airport www.barkleyregional.com

State Sales Tax – 6% State Corporate Income Tax – 6% of the taxable income over $100,000. Net income for Kentucky individual income taxes is gross income minus most of the deductions allowed under federal law.

William H. Natcher Parkway

Water Seven public riverports operate facilities at Henderson, Hickman, Louisville, Lyon County, Owensboro, Paducah and Wurtland.

Railroads CSX, www.csx.com Norfolk Southern, www.nscorp.com Canadian National, www.cn.ca Paducah and Louisville Railway www.palrr.com Seven short-line carriers

Per Capita Income (2010) Bureau of Economic Analysis

UTILITIES Electric power is distributed by four investor-owned electric utilities, 30 municipal electric systems, the Tennessee Valley Authority and 26 rural electric cooperatives. Natural gas is available from 28 gas-distribution companies, 43 intrastate pipeline gas companies, 171 municipal, college or housing authority providers.

Population

4,339,435 Population (2010)

37.7

Median age Source: U.S. Census Bureau

“From Conception to Completion, We’re Your Road to a Successful Project”

IndustRIal CommeRCIal medICal InstItutIonal Considering a new facility? Plan and save wisely. Let us perform a logistic and economic feasibility study for you. • Design/Build Construction • Conventional General Contracting • Complete Engineering/ • Renovations/Conversions/ Architectural/Design Services Expansions • Construction Management Services 2335 Barren River Rd. • Bowling Green, KY 42102 (270) 781-9944 • Fax: (270) 782-2506 www.scottmurphydaniel.com • www.scottandmurphy.com

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visit our

advertisers Appalachian Industrial Development Authority www.appalachianindustrialauthority.com

Leitchfield-Grayson County Industrial Development Corporation Inc. www.growgrayson.com

Baptist Heathcare System www.bhsi.com

LG & E and KU www.lge-ku.com

Blue Grass Airport www.bluegrassairport.com Booneville-Owsley County www.owsleycountykentucky.org

Offering a 500-acre industrial park zoned for heavy industry. The site features CSX rail and Ohio River access. Our community offers rural community advantages yet is within the Louisville MSA.

Bowling Green Area Chamber of Commerce www.southcentralky.com Carroll County Fiscal Court www.carrollcountygov.us City of Greensburg www.greensburgonline.com Commerce Lexington www.commercelexington.com Corbin Economic Development Agency www.sekbp.com Crounse Corporation www.crounse.com Danville Economic Development Partnership www.betterindanville.com

Meade County â&#x20AC;&#x201C; BrandenBurg IndustrIal developMent authorIty

or e-mail us at mcbida@bbtel.com.

102 K e n t u c k y

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Monroe County Economic Development Center Board www.monroecountykyedc.com Muhlenberg Alliance for Progress Inc. www.mafp.us NE Regional Industrial Park www.boydcountyky.gov Northern Kentucky TRI-ED www.northernkentuckyusa.com

Paris-Bourbon County Economic Development Authority www.parisbourboneda.com

Greater Louisville Inc. www.greaterlouisville.com

Pine Ridge Regional Industrial Authority

Greater Owensboro Economic Development Corporation www.owensboro.com

Powell County Industrial Development Authority Inc.

Kentucky Department of Travel www.kentuckytourism.com

Meade County/Brandenburg Industrial Development Authority www.meadecountyky.com

Glasgow/Barren County Industrial Development Economic Authority www.glasgow-ky.com

Kentucky Cabinet for Economic Development www.thinkkentucky.com

(270) 422-5627 (JOBS)

Marshall County Economic Development www.opportunitymarshall.com

Northwest Kentucky Forward www.northwestky.com

Jeffersontown Economic Development Authority www.jeffersontownky.com

Louisville Water Company www.louisvillewater.com

Elizabethtown/Hardin County Industrial Foundation Inc. www.eifky.org

Hopkinsville Christian County Economic Development Council www.hopkinsvilleindustry.com

79 Broadway Brandenburg, KY 40108 www.meadecountyky.com

Logan Economic Alliance for Development www.loganleads.com

Scott & Murphy & Daniel LLC www.scottmurphydaniel.com Shelby County Industrial & Development Foundation Inc. www.shelbycountyindustrialfoundation.com Stites & Harbison PLLC www.stites.com University Kentucky Commercialization & Economic Development www.econdev.uky.edu

Through the Lens

Get the Story Behind the Photo Now that you’ve experienced Kentucky through our photos, see it through the eyes of our photographers. Visit kentuckyeconomicdevelopment.com to view our exclusive photographers’ blog documenting what all went in to capturing those perfect moments. From Our Photo Blog: Kentucky I was driving south on Highway 90 into Glasgow when I came across a farmer collecting the reward for all his hard work. A combine harvester was making its way back and forth across a field. The dust thrown up by the harvester was catching the late afternoon light. A quick, safe and legal U-turn later, I was in the perfect position to capture this frame of rural life in Barren County, Ky.

Posted by antony boshier

More Online

See more favorite photos and read the stories behind the shots at kentuckyeconomicdevelopment.com.

Scenes from Danville, KY

Gov. Steve Beshear

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104 K e n t u c k y

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Ad Index

8 Appalachian Industrial Development Authority

85 Baptist Heathcare System

61 Blue Grass Airport

C3 Booneville-Owsley County 1 Bowling Green Area Chamber of Commerce C2 Carroll County Fiscal Court

11 City of Greensburg

31 Commerce Lexington

18 Corbin Economic Development Agency

78 Crounse Corporation

4 Danville Economic Development Partnership

13 Elizabethtown/Hardin County Industrial Foundation Inc.

24 Glasgow/Barren County Industrial Development Economic Authority

43 Greater Louisville Inc.

2 Greater Owensboro Economic Development Corporation

30 Hopkinsville Christian County Economic Development Council

48 Jeffersontown Economic Development Authority

C4 Kentucky Cabinet for Economic Development

104 Kentucky Department of Travel

Ad Index (cont.)

37 Leitchfield-Grayson County Industrial Development Corporation Inc.

30 LG & E and KU

49 Logan Economic Alliance for Development

30 Louisville Water Company

48 Marshall County Economic Development

102 Meade County/ Brandenburg Industrial Development Authority

99 Monroe County Economic Development Center Board

55 Muhlenberg Alliance for Progress Inc.

62 NE Regional Industrial Park

10 Northern Kentucky TRI-ED

6 Northwest Kentucky Forward

75 Paris-Bourbon County Economic Development Authority

12 Pine Ridge Regional Industrial Authority

25 Powell County Industrial Development Authority Inc.

101 Scott & Murphy & Daniel LLC

100 Shelby County Industrial & Development Foundation Inc. 14 Stites & Harbison PLLC 9 University Kentucky Commercialization & Economic Development

Experience the Owsley Count y Adventure

Available Land

Pioneer Village

Sag Hollow Golf Course

• Livable Community • Available Workforce • Available Business Property • Recreational Opportunities • Scenic Beauty • ATV Trails Connecting with Multi-Co. Area • Fall/Spring Horse Trail Ride • Abraham Lincoln Statue

(606) 593-6800 • (606) 593-7296 • www.owsleycountykentucky.org Booneville-Owsley Industrial Authority

City of Booneville & Owsley County Fiscal Court P.O. Box 1 Booneville, KY 41314 (606) 593-6800

(606) 593-6800 (606) 593-5151

(606) 593-6268 (606) 593-GOLF www.saghollow.com

wolf creek metal (606) 593-7080