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AROUND THE BLUEGRASS
- March '98 ANDERSON COUNTY The last decade has been one of tremendous change for Anderson County. Lying west of Lexington and nestled in between Woodford, Franklin and Mercer counties, Anderson has emerged as a bedroom community for those working in the surrounding counties yet wanting to live in a more rural setting. In the past seven years, the county's population has grown 22 percent and now stands at approximately 18,000. In 1996, Lawrenceburg (the largest city in the county) was named to Money magazine's list of the top 50 fastest growing communities in the nation. Two years later, the growth continues. New residential developments are sprouting up all over, with one of the largest being Thoroughbred Estates, a 300-home subdivision in Lawrenceburg. As a result of the increased residential growth, the county has seen its school enrollment surge 20 percent over the past decade, necessitating the construction of new schools. Although Anderson does not yet have its own hospital, the county's growth is not lost on hospital organizations. Woodford Hospital operates a clinic in Lawrenceburg and has expanded its offerings since opening over a year ago. Both Columbia Hospital and Danville's Ephraim McDowell Regional Medical Center plan to open clinics in the area, as well. Yet as the county is now discovering, with all this growth there are sure to be growing pains. After months of haggling over the right to provide water service to homes in the southeastern portion of Anderson County, the dispute between the City of Lawrenceburg and the South Anderson Water District is being taken to a formal hearing at the state Public Service Commission. The hearing is scheduled for March 25 in Frankfort. The matter has been an issue for more than a year and has resulted in South Anderson filing a lawsuit in federal court. The lawsuit, filed last September, accuses the City of Lawrenceburg of encroaching upon its territory through annexation and providing water service to houses within South Anderson's boundaries. South Anderson's request that the PSC drop the complaint and let the matter be determined by the court system was denied. The PSC is investigating the feasibility of consolidating water service for the growing community. Anderson County currently has three separate water districts: South Anderson, Stringtown, and Alton. The Lawrenceburg City Council has offered to assume operation of all three, including a sewer district operated by Alton. South Anderson is the largest of the three, with approximately 1,375 customers. Stringtown serves some 170, while Alton has about 925 water customers and 500 sewer customers. In contrast to the action taken by the South Anderson Water District, the Stringtown Water District has requested that the City of Lawrenceburg assume ownership of its district, stating that it believes such action would be in the best interests of all parties involved.
HEBRON
Net income for the fourth quarter increased 56 percent to $4.8 million, or $0.41 per diluted share, from $3.1 million or $0.31 per diluted share during the same period in 1996. For the 1997 fiscal year, net income increased 162 percent to $16.3 million, or $1.44 per diluted share, from $6.2 million, or $0.77 per diluted share in fiscal 1996. Pomeroy ranks as one of the country's five largest network integrators, with more than 20 regional facilities in Kentucky, Iowa, Tennessee, Florida, Alabama, Indiana, North Carolina, Ohio, West Virginia and South Carolina.
LOUISVILLE One of the country's largest computer monitor repair companies has selected Louisville as the site for its Midwestern repair center. Trillium Industries, Inc.'s repair operation will occupy 25,000 square feet, with another 100,000 square feet of storage and distribution space available in an adjacent building. The company will initially employ 100 people and plans to employ up to 300 within the next two years, Future plans also call for expanding the facility to 200,000 square feet. The Kentucky Economic Development Finance Authority approved tax credit of up to $1.925 million over the next 10 years for the project. Louisville's proximity to three major air cargo hubs also played a prominent role in the city being chosen as the new site, said Dave Hollis, president of Trillium. Trillium is the eighth computer-repair company to locate in Louisville since 1995.
LOUISVILLE Steel Technologies Inc., a Louisville-based steel processing company, has approved a plan to repurchase up to 500,000 shares of its common stock over the next three years. Steel Technologies currently has approximately 11,998,000 shares of common stock outstanding. The repurchase authorization represents approximately 4.2 percent of that amount. Steel Technologies trades on the Nasdaq stock exchange under STTX. The company's sales for fiscal 1997 were $345.6 million.
FRANKLIN COUNTY
As of last July, when the Franklin Fiscal Court approved a zone change at the south, west part of the I-64/U.S. 60 interchange, it looked as if Cracker Barrel would be joining the list of local restaurants. With the change of the property zoning from Professional Office to Highway Commercial, the Lebanon, Tennessee-based restaurant chain planned to proceed with construction and be open for business by January. However, a lawsuit filed last August by Crit Luallen and Alice Hume, who own property near the proposed development has put Cracker Barrel's plans on the back burner for a while. The lawsuit filed by Luallen, cabinet secretary for Governor Paul Patton, and Hume claimed that the zoning change was not in compliance with Franklin County's comprehensive plan and maintained that commercial properties should be kept to the north side of the interchange, which now has a hotel and convenience stores located along either side of the road. The area south of the interchange, which includes the proposed Cracker Barrel site, includes an industrial park and the state Democratic Party headquarters Although the general public is widely supportive of a zone change to allow Cracker Barrel, the judge in the case has ruled in favor of the landowners. Judge William Graham stated that the Franklin Fiscal Court did not comply with state law in granting the zone change and has sent the issue back to the Fiscal Court. "They (the Fiscal Court) now have three options," explained Vickie Sewell, director of planning and building construction for Franklin County. "They can repeal the decision. If they choose not to do that, they can review copy of the transcripts from the original public hearings and make a decision as to whether or not to change the zoning. Or, they can remand it back to the planning commission and make a decision from the second public hearing." As of press time, the Fiscal Court was scheduled to meet at the end of February to make a decision regarding the matter. Though Cracker Barrel officials were unavailable for comment, Sewell says the county is hoping the company persists in which its efforts to build in Franklin. "If they choose not to go in this location, [we're hoping] they'll look at other locations," said Sewell.
LOUISVILLE Vencor, Inc., a Louisville-based healthcare firm, has announced plans to restructure the company by separating into two independent, publicly-traded companies. A real estate investment trust (REIT), VenTrust, Inc., will own the company's hospital and skilled nursing facilities while a new operating company will be formed to operate the facilities. Vencor plans to divide its existing $2 billion of debt equally between the two companies. Vencor presently owns and operates 60 tong-term acute care hospitals and more than 300 nursing facilities. The company also provides contract services to 2,900 healthcare facilities. As part of the proposed restructuring, Vencor also announced that it is seeking a strategic investor to purchase its 42 percent common stock in Atria Communities, Inc., a national provider of assisted and independent living services for the elderly. Louisville-based Atria operates 50 communities in 19 states with another 43 communities currently under development.
Bluegrass Briefs ERLANGER
GEORGETOWN
LOUISVILLE
NEWPORT
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Copyright 1996-98, by Kentucky Business Online, LLC. All rights reserved. Editorial content is copyright
1998, Lane Communications Group Buzzword and the Buzzword balloon are registered trademarks of Buzzword, Inc. The Lane Report is a trademark of Lane Communications Group. All other trademarks are the property of their respective owners. |
Pomeroy Computer
Resources' total net sales and revenues nearly doubled during fiscal year 1997, increasing
46 percent to $491 million from $336.4 million in fiscal 1996. For the fourth quarter,
total net sales and revenues increased 39 percent to $142.1 million from $102.3 million in
fourth quarter 1996.
Like many
of the areas surrounding Fayette County, Franklin County has experienced a significant
surge in both commercial and industrial growth over the last several years. The hiring of
a full-time industrial development coordinator has resulted in a number of new businesses
locating in the area, such as Greenheck, a manufacturer of ventilation products that
recently constructed a facility in Franklin County. And in the last two years alone,
Franklin County's U.S. 127 South corridor has become home to a new Wal-Mart Supercenter
and Lowe's home improvement center as well as eateries such as Fazoli's, O'Charley's and
Chili's.