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GO BUSINESS . SECOND QUARTER 2015
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GO BUSINESS . SECOND QUARTER 2015
FROM THE LEADERSHIP CANDANCE BRAKE
W
elcome to the Greater Owensboro Chamber
with one another. We will introduce you to new initiatives
of Commerce’s quarterly publication, GO
and ventures we are embarking upon, and we will remind
Business! We are pleased to launch this
you of our core services, which are cornerstones in
venture with Tanner+West, an established local design firm that perfectly reflects the up-and-coming business leaders who are springing up all over Owensboro.
Today is such an exciting time to live and work in
Greater Owensboro. The community is brimming with energy. More people in their 20s and 30s are moving here or choosing to stay here. Private investment throughout our community is at an all-time high.
We believe this publication captures that excitement.
We will feature calendars to ensure that you can get
Owensboro.
Our Chamber’s mission is to provide leadership,
advocacy and member services that foster growth and economic prosperity for our region. Our staff and board take this mission very seriously and with great pride.
GO Business! is yet another way to promote our
members, inform the residents of the Owensboro region of the strength and role of our organization and to demonstrate to you, the reader, that Chamber membership
plugged into what is going on at the Chamber. We will
is an investment in your business or organization that you
also spotlight our members on the move so that they can
cannot afford to pass up. If you are a member, thank you
share their successes and proud professional moments
for your investment. If you are not, come join us.
MARK MARTIN
I
6
President & CEO
Chairman
f the first quarter of 2015 is an indication of the rest
Your Chamber was at the forefront to advocate on your
of the year, then we are poised for a phenomenal
behalf on both local and state-wide issues, and we will
year. While we have been in a state of transition to
continue to advocate for our business community as
a new CEO since October, the Chamber staff has done
future opportunities present themselves.
a tremendous job making sure that nothing has slipped
through the cracks.
our young professionals as well as support for our
small-business community.
I also need to extend a special thank you to Kirk
Candance and I are also focused on engaging A young professionals’
Kirkpatrick for agreeing to be our interim leader during
organization is being formed, and preliminary planning
the search process. I am extremely proud of the Search
has already occurred. Be on the lookout for information
Committee and greatly appreciate their time and
related to the Connections Expo on April 30th. This is
dedication to the Chamber.
The Search Committee
a great opportunity to help promote our small-business
developed a process and let the process determine our
community as well as to assist them in growing their
next CEO. I think that it speaks well for the Greater
businesses.
Owensboro area that we received so many applicants
grow, and we look forward to continuing to cultivate
from across the country. Ironically, our new CEO was
relationships between our agricultural and our business
right in our own backyard, and I am extremely excited for
communities.
the Chamber as well as the Greater Owensboro area that
Candance was interested in the position.
even greater things. Feel free to contact us if there is
anything that we can do to help your business.
We have just wrapped up another legislative session.
GO BUSINESS . SECOND QUARTER 2015
Our agriculture committee continues to
We have so much momentum and are poised for
PUBLISHER/CREATIVE DIRECTOR Jason Tanner jason@tannerwest.com
FEATURES:
2ND QUARTER 2015
ADVERTISING SALES
Bo Alexander bo@tannerwest.com Robert Williams robert@owensboroparent.com
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GRAPHIC DESIGNERS
Taylor West taylor@tannerwest.com
8 MAKING THE CONNECTION
EVENT SCHEDULE BIG PICTURE Gateway Commons
HAND-PICKED
Andrea Roberson andrea@tannerwest.com
Favorite Books From a Few of Our Favorite Local Leaders
COPY EDITOR Joel Dulin
PRINTING
Greenwell Chisholm Owensboro, Kentucky
CONTACT INFORMATION:
Greater Owensboro Chamber of Commerce 200 E Effective 3rd St, Owensboro, KY 42303 brand interactions. (270) 926-1860 http://chamber.owensboro.com
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GROWING THE FARM
9 10 11
TM
A Jason Tanner Design Group Publication
EXECUTIVE ANSWERS On the Record
ENTREPRENEURSHIP
The Five Kinds of People You Need to Know
CHAMBER IN ACTION
The Chamber Ambassador Program
IN FLIGHT
A 10,000-Foot View of the Owensboro Regional Airport
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ROOM WITH A VIEW
25 28
2015 BUSINESS OF THE YEAR SPOTLIGHT EM Ford & Company
8 QUESTIONS
Darrell Higginbotham
Effective brand interactions.
TM
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GO BUSINESS . SECOND QUARTER 2015
MAY EVENTS ROOSTER BOOSTER BREAKFAST Owensboro Convention Center May 7 // 7:30 a.m.
NEW MEMBER BREAKFAST Chamber Office May 8 // 7:30 a.m.
BUSINESS AFTER HOURS PBI Bank May 21 // 4-6 p.m.
JUNE EVENTS ROOSTER BOOSTER BREAKFAST Owensboro Convention Center June 4 // 7:30 a.m.
NEW MEMBER LUNCH Old National Bank Conference Room June 12 // 11:30 a.m.
JULY EVENTS ROOSTER BOOSTER BREAKFAST Owensboro Convention Center July 2 // 7:30 a.m.
NEW MEMBER BREAKFAST Chamber Office July 10 // 7:30 a.m.
BUSINESS AFTER HOURS Kamuf Brothers Farms July 28 // 4-6 p.m.
BIG PICTURE
GATEWAY COMMONS
What is the Gateway Commons Mixed-Use Development Project, located at the intersection of Highway 54 and the US-60 bypass (Pleasant Valley) in Owensboro, Kentucky?
2,200 Estimated number of jobs annually over a 20 year period.
$3.1
Billion in total economic impact.
650
Estimated number of residential units to be built.
835,600 45,500 55,000 Estimated square feet of retail space.
Estimated square feet of restaurant space.
Square foot theater with a bowling alley
DATA ESTIMATES FROM THE COMMONWEALTH ECONOMICS TAX INCREMENT FINANCING FEASIBILITY ANALYSIS
HAND-PICKED
THE CHARACTER & FAITH OF ROBERT E. LEE: IN HIS OWN WORDS, CURT STEGER -Drew Kirkland
DAHL & GROEZINGER, INC.
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GO BUSINESS . SECOND QUARTER 2015
Favorite books from a few of our favorite local leaders:
PURPLE COW, SETH GODIN THE E-MYTH, MICHAEL -Kate Higdon GERBER CAPTURED MOMENTS PHOTOGRAPHY
-Glenn Taylor
GLENN FUNERAL HOME AND CREMATORY, INC.
GOOD TO GREAT, JIM COLLINS -Carl Greenwell
GREENWELL CHISHOLM
HOW TO WIN FRIENDS & BE OUR GUEST, THE INFLUENCE PEOPLE, DALE DISNEY INSTITUTE WITH CARNEGIE THEODORE KINNI -Adam Hancock
RINEY HANCOCK CPAS PSC
-Dean Dennis
OWENSBORO CONVENTION CENTER
LEAN IN, SHERYL SANDBERG -Amy Jackson
FIRST SECURITY BANK
EXECUTIVE ANSWERS
ON THE RECORD
Maintaining a healthy balance in life is a challenge for everyone. With the responsibilities of being a CEO, it can be especially challenging. As CEO, how have you learned over the years to keep a balance? Tyler Brubaker
Malcolm Bryant
Brenda Clayton
It is challenging to run a business for sure. My wife, Lori, is a very active business woman, and that means at times we have to lean on people. We make sure that we make time for each other. When we can, we sit down and have dinner as a family with no TV, no phones, and no devices. It’s not 100% of the time, but we try.
Balance? What’s most important? People (and relationships one has with those men and women) matter most. Many have come before us that have created a world with wowing opportunities. The success one has and the joy one experiences is mostly affected by the quality of family and friends and associates one has the privilege of being loved by, knowing, and working with. Surround yourself with people who can take you forward, and read good books.
Truthfully, I am not certain that I have
Balance body, mind and spirit. Find a place to be still. Be curious. Volunteer where your kids are when they’re still living at home. Let them know that you enjoy being around them. Let them see you exercise, take a class, and pray. Show hard work and compassion. Dream. Dream big and stretch yourself. 99% of the world would take all of our problems every day.
were very involved in their activities. As
Realize when you have enough of something. Lack of balance gradually erodes our lives and takes us away from our relationships and peace. Balance helps us to respond to needs and makes people better, which may be the best gift a CEO can give.
about balance; I think more in terms of
We play as a family. We make plans as a family. When I come home, I make sure that it is no longer work time. It’s not “me” time either. It’s family time. It’s not always fun and games, but for the free times we try to make it so. I still have to work at home sometimes, but I make sure that I do it late at night after the family goes to bed or really early in the morning. I know that my family window of opportunity is short. They are awake from 6:15 a.m.-8:15 p.m., and I want as much of that time with them as possible. One thing that is also important to me is that my employees also enjoy the same. The people that work for me are my extended family, and I spend more time with them than my actual family, and I want them to have a life as well. A lot of times I make family sacrifices so my employees can be with their families. It’s a tough balance.
TEAMMATES MATTER, ALAN WILLIAMS -Mark Martin ATMOS ENERGY
maintained that balance. I have just always done what has needed to be done at the time. When I was younger, I was dividing my time between children’s activities and work. Since they went to college I have had more time for myself. I also think that my husband played a large role in keeping everything balanced when the kids were young. We both I’ve gotten older, I do set time aside to exercise (play tennis for those who know me well!), something I didn’t do when my children were growing up. As I’ve aged and have seen my friends age, my health has become more important. I have been fortunate that I have always enjoyed the work I do. I really don’t think enjoyment, challenge or fulfillment. So I have never felt “unbalanced,” although there are days that are harder than others.
This is balance for me.
THE ONE THING YOU THE FIVE DYSFUNCTIONS THE LEADER’S CHECKLIST, SUCCESS THROUGH THE GIFTS OF NEED TO KNOW, MARCUS OF A TEAM, PATRICK MICHAEL USEEM A POSITIVE MENTAL IMPERFECTION, BRENE -Wade Jenkins BUCKINGHAM LENCIONI ATTITUDE, NAPOLEN HILL BROWN -Malcolm Bryant THE MALCOLM BRYANT CORPORATION
-Gene Tice
WESTERN KENTUCKY UNIVERSITY – OWENSBORO
OLD NATIONAL BANK
-Jack Wells
WELLS HEALTH SYSTEMS
-Shannon Wetzel
RAVING FANS, KENNETH H. BLANCHARD -Darrell Higginbotham INDEPENDENCE BANK
OWENSBORO DAVIESS COUNTY CONVENTION & VISITORS BUREAU
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GO BUSINESS . SECOND QUARTER 2015
ENTREPRENEURSHIP THE FIVE KINDS OF PEOPLE YOU NEED TO KNOW
IF YOU WANT TO TRULY SUCCEED AS AN ENTREPRENEUR, YOU NEED A COMMUNITY OF LIKEMINDED ADVISORS AND PEERS WHO CAN SPUR YOU TO ACHIEVE YOUR GOALS. THE IDEA IS SIMPLE: YOU BECOME LIKE THOSE YOU SPEND TIME WITH. SURROUND YOURSELF WITH THESE FIVE KINDS OF PEOPLE, AND YOU’LL FIND THE ENERGY AND RESOURCES YOU NEED TO ACHIEVE TRUE SUCCESS. By Travis Chaney
HEROES A hero is a person of courage, the man of the hour, a lion heart, champion and victor. You are typically drawn to your hero because he or she represents someone you aspire to be. A hero combines mission with a sense of purpose and can teach you the mindset you need - based on principles and values - to reach your full potential as a person and an entrepreneur. Who are the heroes in your life? What do you learn from them?
GURUS A guru is someone who can play the role of expert, sage, master, authority, pundit, leading light or specialist for you or your company. A guru gives you specific answers when you have specific questions about your life or business - he or she is prepared and organized in order to solve your problem. You may feel uncomfortable acknowledging areas that require improvement, but this can be a costly miscalculation. A subject-matter expert is exactly what you need. What parts of your business need the help of a guru?
MENTORS A mentor is an advisor, guide or counselor who is motivated by a desire to see you succeed. In most cases, your mentor will not have a financial investment in your success, but even in cases where there is a business tie, the primary currency the two of you will be trading is emotion, not money. A mentor’s unflinching support, combined with a passionate belief in you can be instrumental in your development. Who are your mentors? How can you use their strengths to build your resolve to make a positive change in your life and business?
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GO BUSINESS . SECOND QUARTER 2015
COACHES
An effective coach teaches you discipline, motivates you through mutual respect and gives you tough love when you need it. He or she pushes you further than you ever thought you could go while constantly reminding you how good you already are. When we think of coaches, we think of sports, but you can find someone to coach you to greatness in any area of your life, including business. A coach sees the possibilities that you cannot see in yourself and pushes you to turn possibility into action, action into results, and results into wins. Who are coaches who have inspired, motivated and leveraged tough love with you? What could a coaching relationship do for you?
CONFIDANTS
Confidants are your closest friends and partners individuals to whom you tell your darkest and most intimate secrets. Take a moment to determine the confidants in your life. Now, run them through one test: If you were to share your secret thoughts with them, would you be met with judgment? Your confidants need to embrace all of you with no degree of judgment. If you have built a good stable of confidants, you will feel comfort in knowing that you always have people who will receive all of you - the good, the bad and the ugly and do it without judgment. Who are your confidants? Make a commitment to surround yourself with people who inspire and motivate you. Conjure up the courage to contact your list of heroes, gurus, mentors, coaches and confidants. Ask them for help. Follow their advice. Learn from them. Surrounding yourself with the wrong people will lead to an unfulfilled future, but bringing the right people into your life will propel you to success and significance.
IN FLIGHT
CHAMBER IN ACTION THE CHAMBER AMBASSADOR PROGRAM “Owensboro is really a relationship town. The more relationships you make, the more business you will do,” says Jim DeMaio, who leads the Chamber Ambassadors Program, which has been growing tremendously the past several years. “Relationships are what we try and provide the ambassadors with, and all of our members, actually.” When Jim talks about the Chamber Ambassadors Program, he’s speaking from firsthand experience. Before Jim worked at the Chamber, he was an ambassador while he worked in real estate. “In almost three years, I doubled my business,” DeMaio said. “I really think it was largely in part to being an ambassador. I was at every ribbon cutting, shaking hands, meeting people, and my business grew. I want that kind of success for all our ambassadors.” With a staff of five serving a membership of over 950, the chamber relies heavily on the ambassador volunteers to help chamber events run smoothly. The ambassadors also serve as the “eyes and ears” of the membership and community by providing feedback and suggestions to the staff. “We have a great group of companies that make up our membership, but we’re always looking to improve,” DeMaio said.
A 10,000-FOOT VIEW OF THE OWENSBORO REGIONAL AIRPORT
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43,000
Facilitate and emcee ribbon cuttings Greet members at Rooster Booster Get new members acquainted Volunteering at other chamber events (like golf scramble)
Full & part-time staff at OWB
OWB
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8,000
Feet measuring length on north/south runway
The ambassadors recently visited chamber members during “Member Madness” in March, where ambassadors visited every chamber member to deliver packets with the new Greater Owensboro Chamber of Commerce decal, a thank you card, and an information update sheet. One ambassador visited 100 members.
AMBASSADOR RESPONSIBILITIES
19
Annual outgoing & incoming commercial passengers
“The ambassadors are an incredible group. They are willing to put time into something that they don’t see immediate results from. They do it because they care about what the chamber is doing and they care about Owensboro.”
MARCH MEMBERSHIP MADNESS
Aircrafts based at the airport
Businesses/agencies with activity at the airport
653
Required passengers a month to keep Cape Air's direct service to St. Louis and beyond
BENEFITS OF BEING AN AMBASSADOR
Exposure Networking Business-to-business connections and referrals
BY THE NUMBERS
951 Chamber members (as of April 22) 5 Staff members 40 active ambassadors
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BY DANNY MAY
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. PHOTO
BY JASON TANNER
DAVIESS COUNTY INVENTION POISED TO CHANGE AN INDUSTRY.
H
OW CAN A SMALL, 8-MILLIMETER PLASTIC DOWEL REVOLUTIONIZE THE WOODWORKING INDUSTRY?
For the consumer, the beauty of FastenLink
By allowing customers to assemble furniture and
full of hundreds of fasteners. You simply line
cabinets by simply sliding pieces into place without
up the pre-inserted FastenLink dowels into the
the use of any tools. The bright orange, plastic dowels
holes and snap together.
I’m speaking of are a patent-pending invention
For
called FastenLink, a camless, clampless connector
(OEMs), the beauty is that they already have the
which is creating quite a buzz in the woodworking
equipment and programs in place for drilling
industry and getting some major manufacturers
8-millimeter dowel holes. All they need to do
very interested.
is switch out the wooden dowels for FastenLink
W H AT FASTENL I NK I S AND D OES
is that anybody can assemble the end products without any tools and without that dreaded bag
Original
Equipment
Manufacturers
dowels and buy the bit to cut out the ramp.
The genius of the FastenLink dowel is its unique
T HE E VOLUT ION OF FAS T E NLINK
shape. For decades, the industry standard has been
Originally, the idea was to produce and sell pieces
to use wooden dowels to hold adjoining pieces in
of furniture using the FastenLink system. But based
place, which are most often clamped in some way
on feedback gathered from some regional OEMs,
while the cabinet is being put together and held
the model has changed to now market FastenLink
with glue. Sometimes there is also a cam system that
to furniture, closet, and cabinet makers so they can
locks the pieces into place. The FastenLink system
incorporate the FastenLink dowels into their own
replaces all of those pieces and processes.
product lines.
The pending patent is on the plastic design and
Phillip Crabtree and Jamie Mindrup, the
the groove that is cut into the tip of the dowel,
originators of FastenLink, are now working with
creating a “shoulder” that slides into the “ramp,”
software designers to offer a plug-in that will work
a tapered groove cut into the wood, which guides
within existing CAD to CAM manufacturing
the FastenLink dowel until it clicks into the locked
software systems similar to buying an app for your
position, seamlessly connecting the adjoining
phone. The high-functionality of FastenLink makes
pieces into place. FastenLink replaces the wooden
it highly marketable because it works with almost
dowels and eliminates the need for cams, screws, or
all wood products: furniture, cabinets, vanities, end
finish nails.
tables, book cases, bunk beds, desks, etc. “That’s
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“We believe this can radically change our industry for the better, which then will change it for the consumer too.
IF COMPANIES CAN CUT THEIR OWN ASSEMBLY TIME DRASTICALLY, IT LOWERS THE COST OF THE PRODUCT FOR THE CONSUMER.” - PHILLIP CRABTREE
THE BIG PICTURE Ready-to-assemble (RTA) furniture is one of the fastest growing segments of the furniture market in the world. Sometimes also known as knockdown (KD) furniture, RTA furniture has become a consumer-friendly furniture alternative because of improved materials, hardware and design innovations. While cost is the most important factor for many corporate buyers and business owners, consumers are drawn to the improved quality, easy assembly and increased options and styles that are available in today’s RTA furniture.
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the power we’re giving design engineers in these
“This grant is just one of many, many blessings,”
manufacturers,” Mindrup explained, “They may
Crabtree explained.
have ideas, and they might call Phillip and say, ‘Can
before us to the EDC to make all this happen. To
you make that in an 18-millimeter dowel?’ The
have this crazy idea, which was actually a bunch of
applications are limitless.
different ideas collected together, and then to have
“We believe this can radically change our industry
it blessed by the community (the EDC and Daviess
for the better, which then will change it for the
County Fiscal Court) that says ‘We believe in the
consumer too.
If companies can cut their own
product, we believe in you because you’re from
assembly time drastically, it lowers the cost of the
Daviess County, and we’re going to give you $300,000
product for the consumer. The ripple effects of this
to go build this thing, now go make us proud’!…
are just insane.”
We’re honored, we’re blessed, we’re excited. And the
F R O M C O NCEPTI ON TO R EAL I T Y
“We believe the Lord went
sky’s the limit with this thing.”
The result is an idea that was born right here in
P HILL’S AND T HE FUT URE
Daviess County that may change the cabinet and
None of this is to say that Phill’s Custom Cabinets
furniture industry worldwide. But the idea didn’t
(the shop where FastenLink was born) is going away.
come overnight. “It’s hard to pinpoint the exact time
Quite the opposite is true. “Phill’s has been blessed
it came to me,” Crabtree said. “It was really a bunch
to be in the community for 40 years, and we’re still
of small steps along the way.”
going strong. But this is a new venture that we’re
The original prototype, which still sits in a corner
extremely passionate about,” Crabtree explained.
in the shop, was built two years ago. “Then three
The experience and background of FastenLink
months ago, through a series of providential meetings
and Cabinotch do help Phill’s Custom Cabinets in
with people in the industry, we realized we needed to
the sense that they allow the use of better processes
go from a 10-millimeter dial to the industry-standard
and more efficient systems, which in turn enables
8-millimeter dowel,” Crabtree explained.
Phill’s to be extremely competitive in pricing while
With a solid plan in place, Crabtree presented
still providing the same quality products, customer
FastenLink
service, and custom designs they’ve always been
to
the
Economic
Development
Committee, which immediately recognized the
known for.
potential. FastenLink was recommended by the
“I’m sitting in a place where I love to create. I love
EDC to the Daviess County Fiscal Court to be
to think about things and build systems. And now
awarded a $300,000 local economic development
we’re able to share this system that we’ve been blessed
grant with the stipulation that the money awarded
with,” Crabtree said. “Our passion about FastenLink
does not have to be paid back if FastenLink hires
is immense. It’s going to change the industry. It’s
75 people in the next five years. Mindrup says the
going to have impact on businesses and people all
grant money will be used as seed money and will
over the world. We’re extremely passionate about
go straight toward buying equipment and hiring
the opportunities this will bring to us, to Daviess
employees as needed.
County, and beyond.”
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GO BUSINESS . SECOND QUARTER 2015
A fourth-generation farmer with a degree in agriculture and economics,
JIM GILLES, 27, HAS RETURNED TO HIS ROOTS, HAS COME HOME WITH BRAND NEW IDEAS FOR EXPANDING THE “MEAT SIDE” OF THEIR LATE 1800S FAMILY FARM BY GAIL E. KIRKLAND
. PHOTOS BY DAVID GRINNELL
A
s operations manager of Hillview Farms, Jim collaborates with Nona’s, Reid’s Orchard, Farmer’s Market and Cecil Farms to market their beef products. The farm raises a registered seed stock
of Black Angus cattle, which is genetically engineered to produce prime meats with good marbling and a reduced fat cap on rib eye steaks, for example. Although the meat is not considered organic, the herd is pasture and grain fed — provided for as well as organic herds, according to Jim. Previously, the farm simply sold large quantities of beef — a fourth, half or full side of beef. To accommodate those customers who still wanted their beef, but in smaller portions, Jim introduced by-the-pound products: filets, rib eyes, hamburgers, roasts, short ribs, flank steaks and specialty cuts. All of their products are packaged frozen and vacuum sealed under their own Hillview Farms label. Since he began marketing Hillview meat products by the pound two years ago, Jim has expanded the business to offer local pork, Kentucky Proud fresh dairy milk in glass jars and cheeses (mozzarella, smoked Gouda and Kentucky Derby — a cheddar infused with bourbon), in addition to their meat products. He hopes to add farm fresh eggs and burgers mixed with bacon this season. “The samples [of the Broadbent Farms bacon burgers] we’ve had so far have been really good,” Jim said.
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GO BUSINESS . SECOND QUARTER 2015
How does Hillview Farms reach their customers? “Most of it is word of mouth,” Jim said, but he also uses social media, incorporates a few trade shows and collaborates with Cecil Farms (Expos), as well as making appearances at Preservation Station the first weekend of each month. The farm does not have a delivery service, but customers know they can come directly to the farm to
ONE OF THE BIGGEST CHALLENGES IS “TRYING TO EXPAND TO MEET DEMAND.”
make purchases by appointment or place orders through Cecil Farms, which does home deliveries of produce and Hillview Farms’ ala carte items. One of his biggest challenges is “trying to expand to meet demand.” He wholesales products to restaurants, caterers and individuals wanting large quantities (several hundred pounds) of meat. Yet, the rewards are measured in the people he serves. “Repeat customers, especially those who tell me that ‘it’s the best thing they’ve ever had’ and getting to know my customers” are his main rewards, Jim said. “. . . it’s different than when you go to the chain store and just pull something off the shelf and you don’t know where it came from, and don’t have a connection to where it has been raised — or how it has been raised.” With his sense of humor fully intact, Jim jokingly explained why he chose farming: “I don’t know . . . I just enjoy it. I like meeting and working with people . . . and it’s a way for me to get out there and let people know that there’s more to agriculture than what the media sometimes portrays, with people wearing bib overalls and dirty boots all the time. It’s not that at all. There’s a lot of technology in today’s agriculture, and being a young face representing it [agriculture] is kind of nice.”
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GO BUSINESS . SECOND QUARTER 2015
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GO BUSINESS . SECOND QUARTER 2015
PAID ADVERTISEMENT
RETIREMENT PLANNING FOR BUSINESS OWNERS If.you are like most business owners we deal with every day, you are more concerned with the day-to-day operations of your business than you are with your own personal retirement. However, a retirement plan for your company might be a way to actually improve your organization and help you save money. A retirement plan is a great way to attract and retain quality employees and can help maximize employee productivity. Aside from just providing an important and appreciated benefit to your employees, a retirement plan can provide you a tax-advantaged way to save money for your own retirement. Depending on the plan you provide, the employer contributions may also be tax-deductible. The most challenging part for you is to find the right plan, and that is where we can help. The rules around employer-sponsored plans are complex, but The Hobgood Group of Hilliard Lyons can help you determine what is best for your business needs. There are many types of plans and each one has its own set of unique features. You just want to make sure you pick the one most suited for your business, for yourself, and for your employees. While we will only discuss a couple of the most popular plans, in this article, there is certainly a plan out there that will fit your needs and your budget. The plan that most people are familiar with is a 401(k) plan. Employees will forgo a part of their salary and have it put in this plan instead. For 2015, a person can put away as much as $18,000 in the plan and an additional $6,000 if that person is over the age of 50. An employer will often match part of the employee deferrals as an incentive for the employee’s participation, but if the employee still decides not to participate then the company does not have to put anything in the plan for that particular employee. Because the employer’s contribution costs are generally small, it makes a 401(k) relatively inexpensive to your business. While they can be inexpensive, there are still a lot of complicated rules that make it imperative to have an expert help you with so that you can meet all the testing requirements to keep your plan in good standing with the government.
Additionally, we can help you determine rules of the plan that you, as the owner, may want to include, such as vesting schedules, automatic contribution requirements or whether the plan will be a Safe Harbor plan. An alternative to a traditional 401(k) may be a SIMPLE (Savings Incentive Match Plan for Employees) IRA. A SIMPLE works a lot like a 401(k), but they don’t have all the testing requirements which generally makes them cheaper and easier to maintain. For 2015, a person can put $12,500 into a SIMPLE IRA along with an additional $3,000 if they are over the age of 50. A few differences with the SIMPLE include a requirement by the employer to either match 3% of the employee deferrals or make a 2% contribution across the board to every employee - whether they participate in the plan or not; an employer may cannot have a vesting schedule with a SIMPLE, and you may not use this type of plan if you have more than 100 employees. Otherwise, they are great plans for small businesses because of their ease of implementation and for their very minimal oversight that is required of the business owner. If you are a business owner and would like to discuss putting a retirement plan in place, we would certainly be interested in speaking with you and helping determine what is the best plan for your business. If you have a plan in place and would like to review it, then we would be happy to do that as well. The nice thing about a review is that it requires no commitment from you, and it is either going to tell you your plan is fine the way it is, there are some minor adjustments to be made or there is a much better option available. In any case, your business cannot lose.
THE RULES AROUND EMPLOYER-SPONSORED PLANS ARE COMPLEX, BUT THE HOBGOOD GROUP OF HILLIARD LYONS CAN HELP YOU DETERMINE WHAT IS BEST FOR YOUR BUSINESS NEEDS.
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ROOM WITH A VIEW NEW HOLIDAY INN OFFERS A ONEOF-A-KIND DINING EXPERIENCE ON THE RIVERFRONT IN DOWNTOWN OWENSBORO BY MELODY WALLACE - PHOTOS BY ADAM PARIS
T
he new Holiday Inn Owensboro Riverfront has discovered a way to combine exceptional customer service and spectacular cuisine with an
inviting design concept that would appeal to any guest. On Thursday, April 2, the new Holiday Inn opened its doors to overnight guests for the first time. This was preceded by an incredibly successful three-day restaurant pre-opening for the Another Broken Egg Cafe. When first stepping into the new hotel, one cannot help but feel welcome. The entire staff is warm and friendly, including general manager Ruth Ann Dearness, who often greets many guests by name. Ruth Ann began her hotel career at the Executive Inn and has been with LinGate Hospitality for twenty-five years.
CEO and founder of LinGate Hospitality, Glenn
Higdon says of the initial experience of entering the hotel,
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GO BUSINESS . SECOND QUARTER 2015
“As soon as you hit the front door, it’s so inviting.” Upon
Inn image with the image of Another Broken Egg Cafe,
entering the lobby, which opens up into the seating area
while ensuring that the Another Broken Egg Cafe kept its
of the Another Broken Egg Cafe, the large pebble columns
identity. Mary says that she “felt honored that they trusted
direct the eye through the dining and outdoor seating area
me with their designs.” She thought about what design
to the view of the riverfront. The warm, copper lighting
qualities would best suit Owensboro and, along with
and earthy tones of the furniture help to bring the relaxing
interior designer Carley Bean, was able to create a very
feel of the outdoors in. The lobby walkways feature artwork
cohesive organic theme throughout the property.
from local artist David Stratton as well as photography
from Adam Paris at AP Imagery. The natural, organic
business, leisure and family travelers alike. Claude
feel carries on into the full service bar, which is made of
Bacon, vice president in charge of administration, sales
three, cut pieces of solid cherry-framed with natural stone.
and e-commerce, feels that the hotel offers “fantastic
This provides guests with an experience that Ruth Ann
leisure, but can also provide a riverfront area to
describes as “the open air feel of a great-room home.”
entertain business (clients).” The hotel has 133 guest
Commercial interior designer, Mary Higdon, was
rooms, featuring approximately 15 different room
faced with the challenge of incorporating the Holiday
types, including: 10 suites, wheelchair and hearing
The Holiday Inn itself has something to offer to
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22
accessible rooms and 14 rooms with balconies overlooking
Group, which owns and operates both Ruth Chris Steak
the Ohio River. The hotel also features a state-of-the-art
House and Another Broken Egg Cafe, said that the first
fitness center with a magnificent view of the river. Those
question they had to ask themselves in preparation of
staying for business can utilize the meeting room that
opening the Owensboro location was, “Do we change our
accommodates large parties of up to 100 or take advantage
style or do we do what we do well?” The restaurant chose
of the “board room for more intimate business gatherings.”
to stick with its traditional, yet diverse, menu, which offers
The large indoor swimming pool is a relaxing amenity for
“scratch-made items,” such as homemade sausage and
all guests to enjoy. An added benefit for guests traveling
homemade granola, as well as gluten-free and vegetarian
with small children is that Another Broken Egg Cafe honors
options. During the complimentary friends and family
Holiday Inn’s Kids Eat Free policy, with an adult entrée
pre-opening, the restaurant served nearly 700 people in
purchase. The Holiday Inn Riverfront is now the only hotel
three days. On opening day, which Blair says ranked “in
in Owensboro to offer breakfast, lunch, and dinner, as well
the top 10 openings” of all 46 locations across the country,
as room service. Mr. Bacon said, when developing another
the restaurant served over four hundred. Diners were able
hotel along the riverfront that it was necessary that it be a
to indulge in many appetizing treats, including the light
full-service hotel in order to accommodate the Convention
and fluffy Southern-style biscuit beignets with homemade
Center and downtown.
marmalade sauce, the Cajun-inspired fried green tomatoes,
When selecting a restaurant for the Holiday Inn,
the signature benedicts, and one-of-a-kind bloody marys.
Mary Higdon said that it was important to find one that
It is also part of the Another Broken Egg Cafe business
was the right fit for Owensboro. Upon Mary’s suggestion,
model to be active within the community and to support
Glenn Higdon called the franchise owner of Another
local charities. Blair said they prefer to buy local honey and
Broken Egg Cafe and, after a pleasant conversation, they
produce, donate to local food banks and to be out in the
agreed to the partnership in a “handshake over the phone.”
community shaking hands and serving food, versus making
Jeff Blair, chief operating officer of Hoosier Hospitality
monetary donations.
GO BUSINESS . SECOND QUARTER 2015
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GO BUSINESS . SECOND QUARTER 2015
Beyond the welcoming décor and the fantastic dining
experience, what sets this hotel and LinGate Hospitality apart from the others is the family feel of the company. Glenn and Mary Higdon seem to have found the perfect marriage of hotel development and design. The fact that their two sons, Alex and Joshua, work in the hospitality business, coupled with the long tenure of their employees, speaks to the character and quality of the organization. The employees are so dedicated, in fact, that the Wednesday afternoon prior to the Thursday opening, the corporate staff and accounting department closed the office early to dust, vacuum, and make beds in order to ensure a successful first day for the hotel.
The establishment of the new 16.5 million-dollar
hotel and restaurant has also created nearly 100 jobs and employment opportunities for people in and around the community. Bacon said that the announcement of the completion of the Bluegrass Museum “was huge for us” because it will attract “worldwide guests when they visit Owensboro” and we have a “first class facility to provide just that.” Ruth Ann added that the “tourism dollars for the community will have a positive impact on the economy.” The new Holiday Inn is a welcome addition to Owensboro because, as Bacon said, “there is nothing offered on the riverfront like it.”
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GO BUSINESS . SECOND QUARTER 2015
2015 BUSINESS OF THE YEAR SPOTLIGHT > 11-50 EMPLOYEES
E.M. FORD & COMPANY
2100 Frederica Street Owensboro, KY 42301 (270) 926-2806 www.EMFord.com
A
ccidents are a fact of life, and come in all shapes and
about opportunities to improve and grow our firm.”
sizes. Whether it’s a fender bender, a business loss, or
Another important part the company’s success and
a serious family illness, we all need protection from these
longevity is the fact that E.M. Ford has remained a family-
unexpected events. To provide peace of mind and financial
owned business for 90 years. E. M. Ford & Company was
stability when these situations strike, it’s important to equip
established in 1925 by Senator E. M. Ford as an independent
yourself with the proper insurance advisors and products.
insurance agency. His two sons, Honorable Wendell
For over 90 years, E.M. Ford & Company and Money
Ford and Reyburn Ford, became the company’s second-
Concepts have provided the people of Owensboro with the insurance protection they need. Recognized as the Greater Owensboro Chamber of Commerce 2015 Business of the Year (11-50 employees), E.M. Ford is a full-service insurance and financial planning firm. Their products span the insurance spectrum, and include home, auto, life, and business insurance, as well as group benefits, including health and supplemental insurance policies. With 30 employees to serve their clients’ needs, E.M. Ford also provides investment management and financial planning for both business owners and families. For over 50 years, beginning in 1964, E.M. Ford has enjoyed a prosperous relationship with the Greater Owensboro Chamber of Commerce. In fact, the company considers that relationship to be a vital part of their success
generation owners. In the early 1980s, the agency transferred leadership to the third generation of Fords, Wendell’s son Steve and Reyburn’s son Rick. Steve’s sons Clay, Neel and Morgan now make up the fourth generation to operate the family business. Said Clay, “My brothers and I have had the benefit and privilege of learning directly from the two generations prior to us, and we hope to continue their legacy of doing what is best for our clients.” The Fords also understand the value of operating their business in the City of Owensboro. “We think Owensboro is really making a focused effort to improve its business climate, and to position itself favorably for continued future growth,” said Clay. For E.M. Ford & Company, receiving the 2015 Business
within the Owensboro community. According to Clay Ford,
of the Year award is a promising start to the most recent
president of the financial planning department, “Being
chapter of their storied history. Said Clay, “To be recognized
involved in the community is an important value at E.M.
by our peers as Business of the Year is an honor, as well as a
Ford, and we encourage our team to give their time and
testament to the hard work of our employees and the loyalty
talents to make Owensboro a better place to live and work.
of our customers. We are a growing business that plans to be
Being a Chamber member has allowed us to maintain close
in Owensboro serving our clients and benefitting from the
ties with the entire business community, as well as learn
Chamber’s services for another 90 years.”
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GO BUSINESS . SECOND QUARTER 2015
PAID ADVERTISEMENT
COLLEGE DEGREE ENHANCES EARNING POTENTIAL & ADVANCEMENT By J. Larry Durrence, Ph.D.
“College graduates earn twice as much as high school graduates and 6 times as much as high school dropouts; and their wealth is two and one-half times that of a high school graduate and five times that of a high school dropout,” concluded the 2009-2013 American Community Survey 5-Year Estimates. A more recent study (2014) by the Federal Reserve Bank of San Francisco confirmed that even with higher tuition, a college degree is a “worthwhile investment.” This is true for both Associate (2 year) and Bachelor (4 year) degrees since they add on average to lifetime earnings $500,000 and $800,000, respectively. Simple economics indicate that college is a good investment. But when coupled with the fact that 60% of the jobs in Kentucky require postsecondary education, it is surprising that more than 60% of the adult workers in Daviess County do NOT have a degree. The percentage is even higher in Hancock, McLean and Ohio counties. We know a large percentage of these employees have “some college” but many have dropped out before completing a degree. This is a situation not unique to Kentucky, as about 31 million Americans have dropped out of college over the last few decades. “I have a steady job with a good wage; why should I re-enroll in college to complete my degree?” In a tight labor market some employers do hire individuals with some college and or technical training, and then provide additional training on-the-job. However, based on U. S. Census data for the Owensboro region, workers age 25 – 44 with an Associate degree had a median income 55% higher than those with some college, but no degree. Earning a recognized college credential can increase career opportunities. “How does lack of a college degree hamper career advancement?” Greater Owensboro employers who met with OCTC/ KCTCS college leaders recently explained that they are having difficulty in finding applicants who have “soft skills.” Business and industry need employees who have basic technical skills, but who also understand the importance of coming to work on
time, dressing appropriately, and getting along with customers and coworkers—the basic level of soft skills. They want to hire individuals who possess the qualities to be promoted into supervisory and management. These qualities are the higherlevel soft skills: good verbal and written communication skills, the ability to analyze and solve problems, leadership skills, the ability to work with and lead teams, and a creative entrepreneurial outlook. In addition to Associate in Arts and Science degrees, the programs at Owensboro Community & Technical College include the important higher level soft skills in areas that include: Accounting, Business Administration, Computer and Information Technology, Engineering & Electronics Technology, Industrial Maintenance, and more. We also try to instill a commitment to lifelong learning, because a willingness to learn is essential to sustaining success in business and industry. We encourage our graduates to continue to work toward a four-year degree because earning and employment potential increases with continued education. Attending institutions regionally accredited by SACS-COC, which accredits state colleges and universities in Kentucky as well as many private ones, such as Kentucky Wesleyan and Brescia, makes your credits transferrable between colleges. “How can I take college courses when I have a full-time job?” 1OCTC offers on-line classes at an affordable tuition that gives you the flexibility to take courses at any time of day, seven days a week, in addition to our on-campus classes. Some Associate degree programs, in Business for example, have incremental Certificates that can be earned as you progress toward the degree. OCTC Workforce Solutions also provides a multitude of options for classes, including customized training for employers who wish to train their employees in specific soft or technical skills. OCTC, in partnership with the Economic Development Corporation and local employers, is exploring the creation of a Kentucky FAME chapter, which encourages a “work and learn” model that enables companies to employ students part-time while they are also taking college classes.
For more information on OCTC or programs the college offers please contact 270.686.4418. Dr. Larry Durrence is the currently serving as interim president of Owensboro Community & Technical College. He earned his Ph.D., and M.A. at the University of Georgia; he earned a B.A., summa cum laude, from Florida Southern College. Further studies include the University of Virginia, Center for the Study of Higher Education, and the American Association of Community Colleges Presidents Academy.
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8
QUESTIONS DARRELL HIGGINBOTHAM
BY DANNY MAY
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GO BUSINESS . SECOND QUARTER 2015
. PHOTO BY DAVID GRINNELL
W H AT E X PER I ENCES G R OWI NG U P H E L PE D F OR M YOUR CAR EER CHOICE ? I was in high school during the recession in the early 70s. I had moved to Ohio County my senior year and the mines were laying off at that time. Layoffs were all over the news. My dad was a high school teacher, but had been recruited to join a bank just a few years before I moved. We spoke a lot more about economics, the job market and education during that time. None of the area banks were laying employees off. Those experiences helped gravitate me toward banking. I graduated from Western Kentucky University with a banking degree in 1977 and my very first job was a teller at Owensboro National Bank.
D O YO U R EMEMBER YOU R F I R ST PAYC H E CK? Actually, I started mowing yards when I was 13. We had a paper route for a while. I believe my first true paycheck was from New Planters Tobacco Warehouse in Russellville, where I worked on Christmas break while attending Western.
W H O ME NTOR ED YOU? Both of my parents were major influences. My dad went into the military, paid for his education on a GI Bill and was a high school teacher for many years. He was recruited by a bank in Russellville in the late 60s. I would not be where I am today without the experiences he shared with me. My mom never graduated from high school. After my parents divorced, she had difficulty finding jobs that paid more than minimum wage. She was very persistent about completing my education including going to college. I don’t recall her setting any goals for me, but always insisted on doing my best.
Outside of my family, hands
down, my biggest influence was the very
first bank president I ever worked full-time for: Jack Darnell, president of Owensboro National Bank. I was a young man, right out of college, and I can still remember the number of times he would stop by and talk to us and call us by name. Mr. Darnell made a huge impression on me by how respected he was, the relationship he had with his employees and customers, everything. I’ve tried to emulate that type of banker my entire career. I left Owensboro National in 1978 and years later learned that Mr. Darnell would get updates on my career from my dad. I became president of First & Peoples Bank in Springfield, Kentucky in 1989 at the age of 32. Their influences created that opportunity. I told my dad and Mr. Darnell just how much they had inspired me. A personal note is displayed in my office attached to a Messenger-Inquirer article announcing Independence Bank as a Best Places to Work in Kentucky. The note reads “Congratulations Darrell! You must have had some good training.” Signed: Jack Darnell.
WHAT S KILLS DID YOU DE VE LOP E ARLY ON T HAT YOU S T ILL US E E VE RY DAY ? Customer Service is No. 1. Treat everyone with respect. Be a leader, not a manager. You can’t mortgage your integrity and credibility. You can learn from your best bosses AND your worst ones. The worst bosses actually taught me the best lessons by showing me what not to do. I was rarely treated poorly, but I saw how others were treated and how employees were motivated either positively or negatively. It didn’t matter the bank or the location, the experience was the same. The best performing banks had employees that were valued, respected and highly motivated. It is more of a lesson or an observation than a skill, but it has served me well for almost 40 years. I didn’t begin my career in a management training program and am not sure many even existed then. I started as bookkeeper, which was an entry-level
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GO BUSINESS . SECOND QUARTER 2015
support position at the time. Eventually, I was promoted
in the lives of our customers and in the prosperity of the
to teller and served in that role for more than four years. I
communities we serve.
accidentally became a lender by volunteering to work with past due and problem loan customers. Each and every
FAVORIT E VACAT ION DES T INAT ION?
one of those experiences have been and remain extremely
The beach. If there’s a golf course nearby - great! The beach
valuable to me.
is definitely the first priority.
W H AT L E G AC Y DO YOU HOPE I ND EPENDE NCE BAN K L E AVES F OR F U TU R E G ENER ATI O NS ?
WHAT DO YOU TO DO TO RE L AX AND UN W IND?
Independence Bank has proven that great employees do make
friends is my go-to way to unwind. Denise and I are in a
a great bank. With our outstanding employees, the bank has
new stage in our lives as empty nesters, and we are taking
grown significantly by focusing on customer service and
advantage of it. We purchased bikes for our anniversary and
community involvement. The more we’ve grown, the more
really enjoy riding the Green Belt. We participated in the
we’ve been involved, and the more we’ve been able to support
ColorBlast 2015 and are looking into exercise classes.
our customers and communities in many different ways.
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It may sound cliché, but spending time with family and
Independence Bank has achieved local, state and national
WHAT ’S ON YOUR BUCKE T LIS T ?
recognition because of the outstanding contributions of our
Getting my pilot’s license and flying a P51 (WWII fighter
employees. However, our legacy will be not be measured by
plane), taking my children and grandchildren to the Masters
recognition and awards. The Independence Bank legacy
(golf tournament) and spending the winters on or near a
will be how great a difference we have been able to make
beach are just a few.
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GO BUSINESS . SECOND QUARTER 2015
200 E 3rd St, Owensboro, KY 42303 (270) 926-1860 http://chamber.owensboro.com
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GO BUSINESS . SECOND QUARTER 2015
PRSRT STD US POSTAGE PAID OWENSBORO KY 42301 PERMIT NO 420