UNION COUNTY
Union County Lands New Industry, Company Expansions

For six years now, a 100,000-square-foot spec building just off U.S. 60 near Morganfield has been sitting vacant, even before the economy went south. So it was a pleasant surprise for Union County economic development officials to recently learn that not only one but two parties were interested in the facility.

Rayloc, an auto parts refurbisher that ranks as the county’s largest manufacturer with some 600 employees, was looking to expand. Fleury Michon, a French food-processing company, was interested in the building to establish a plant to produce refrigerated meals.

Wanting to satisfy both companies, local officials came up with a win-win situation for everyone: The City of Morganfield donated 10 acres of land adjacent to the existing Rayloc plant to the company, on which it will build a 100,000-square-foot warehouse. That then enabled Union County to sell the spec building and 21 acres to Fleury Michon.

Fleury Michon, which has been doing business in Europe for more than a century, anticipates eventually employing around 250 people and has agreed to give priority to hiring local residents. The company hopes to be operational beginning early next year with a staff of seven, including a chef whose task is to tailor European recipes to American tastes.

Though Rayloc’s new warehouse isn’t expected to produce additional jobs, Rayloc Operations Manager Jeff Arn notes that the additional warehouse space will free up 47,000 square feet in the existing plant that could possibly be used to add more production lines in the future.

And for Union County, the news keeps getting better. Another local company, Jim David Meats, is also expanding with the opening of the Little Kentucky Smokehouse, a new $2.45 million plant to process pork and other meats that will be marketed nationwide. The new facility, which will also supply meat to the Fleury Michon plant, is expected to generate 50 new jobs.

STATE
Kentucky Colleges Receive National Recognition

The Princeton Review, a college guidebook that ranks colleges and universities based on student interviews, has named three Kentucky institutions to its 2003 listing of The Best 345 Colleges.

Bellarmine University, Centre College and the University of Kentucky join schools such as Harvard and Yale based on surveys of more than 100,000 students who answered 70 questions about their own school’s academics, campus life, and student body, as well as their study hours, politics and opinions.

Students at Bellarmine, a small “career-oriented” Roman Catholic school in Louisville, praised “excellent” professors who “really care about how you are doing academically and emotionally.” The school’s broad choice of overseas study programs also elicited high marks.

Centre’s students pointed to a committed faculty as one of the characteristics that contributes to its status. “Skipping a class here will result in a phone call or e-mail by your prof just to make sure everything is okay,” said one student. “They are genuinely concerned with your progress as a student.”

University of Kentucky students said that academics are “the biggest strength of the school” along with “accessible and helpful” faculty.

In addition, Murray State University and the University of Kentucky are featured in the October issue of Kiplinger’s Personal Finance, ranking 40th and 79th, respectively, on the magazine’s list of America’s 100 Best Public Colleges. The listing is compiled based on quality (average entrance exam scores for freshman, how many return for their sophomore year, graduation rates, student-faculty ratio, etc.) and cost (average percentage of financial need met by aid, average debt by graduation, etc.).

LOUISVILLE
LG&E Ranked Among Nation's Top 10 Utilities

Site Selection magazine has ranked LG&E Energy, the holding company of Louisville Gas and Electric Company and Kentucky Utilities Company, as one of the 10 best utilities in the nation in terms of creating jobs and enticing capital investments in its service territory.

“One reason for the utility’s attractiveness is how it continues to get it right when it comes to economic development,” says Site Selection. During 2001, LG&E Energy is credited with playing an integral role in bringing 3,689 jobs to Kentucky in addition to $1 billion in investments.

Site Selection compiled its list based on capital investment in the service area within the year 2001, new jobs created in the service area, capital investment per capita, and new jobs created per 10,000 population.

STATE
US Airways' Financial Woes Lead to Changes in Kentucky Markets

US Airways, which filed for bankruptcy protection in August, will be pulling its larger aircraft out of the Louisville market next month, replacing them with smaller regional jets and turboprop aircraft operated by one of its affiliate carriers.

Overall, the markets served by US Airways out of Louisville will not change, but one flight to Philadelphia has been dropped, while another flight to Charlotte has been added. Officials with the Virginia-based carrier said the decision to utilize the smaller aircraft was based on the fact that passenger loads across the nation dropped last year following the 9/11 attacks. From an economic standpoint, said officials, it simply didn’t make sense to operate larger aircraft that were running half-empty.

US Airways’ 55 Louisville employees will be offered the opportunity to apply for jobs with the new carrier or could be eligible to transfer with US Airways to another city.

Though US Airways also operates out of Lexington, the carrier did not utilize any full-size jets. However, the airline is cutting one flight between Lexington and Charlotte and eliminating its only flight service between Lexington and Philadelphia.

Not surprisingly, city leaders in both communities expressed disappointment about the announcement.

‘’There have been times when the lack of air service has hurt us in attracting new companies,’’ said Mike Bosc, spokesman for Greater Louisville Inc. – The Metro Chamber of Commerce, in a remark to the Louisville Courier-Journal. ‘’You never like to see air service curtailed.’’

LOUISVILLE
Louisville Named as Headquarters for New General Electric Division

GE has combined its GE Appliances and GE Lighting businesses into a single entity known as GE Consumer Products. The new Consumer Products division will be headquartered in Louisville, home of GE Appliances, but will retain a substantial business presence in Cleveland, where the company’s lighting division has been headquartered.

James P. Campbell, previously president and CEO of GE Appliances, has been named the president and CEO of GE Consumer Products. Matthew J. Espe, president and CEO of GE Lighting, has left the company to become head of IKON Office Solutions.

“We want to create a simpler, more efficient business that will be competitive across all product lines,” said GE Chairman and CEO Jeff Immelt. “By taking out administrative costs, we will be able to put that money back into investing in new technologies and building greater brand awareness. Because Appliances and Lighting have powerful connections with a similar consumer base, we believe they will now be able to grow more successfully together than either would on its own.”

Prior to the consolidation, GE Appliances had approximately 10,000 employees, some 6,000 of which were located in Louisville. GE Lighting had a roster of 31,000 people worldwide. GE officials say the actual appliance production in Louisville will not be affected and no lighting systems personnel manufacturing will be moved to Louisville’s Appliance Park.

STATE
Kentucky Timber Companies Discuss Export Opportunities with Chinese

Officials from 10 Kentucky companies recently met with representatives of Chinese businesses to discuss export opportunities for Kentucky wood products.

“Kentucky’s wood industry has vast untapped potential for growth,” noted Kentucky Agriculture Commissioner Billy Ray Smith, adding that China represents one of the world’s largest export markets.

The meetings took place at the International Woodworking Fair in Atlanta and covered export opportunities in hardwood veneer, logs, and lumber as well as finished wood products and components.

Companies participating in the discussions included Diamond Forest Resources, Fannin Industries, and Harold White Lumber and Millworks, all of Morehead; Northland Corporation, Lagrange; Begley Lumber, London; Baillie Lumber, Leitchfield; East Anderson Lumber Company, Eubank; C. A. Gardener Veneer, Smithfield; Freeman Corporation, Winchester; and Interwood Corporation, Shelbyville.

STATE
Stites & Harbison Program Focuses on Legal Issues in Higher Education

Stites & Harbison PLLC, a regional law firm headquartered in Louisville, has established a new program designed to help colleges and universities with legal matters pertaining to educational institutions.

As part of the Center for Higher Education, attorneys with the firm will conduct a series of forums on college campuses, covering issues such as copyright information, fund raising, trademarks and patents, bond financing, sexual harassment, and drug and alcohol policies.

“The purpose of the center is to match leaders of the higher education community in this region with lawyers who can provide informative, frank, timely and practical information on the issues that concern them,” said Kennedy Helm III, managing partner of Stites & Harbison. “Our hope is that the center offers some tools that can help our colleges, universities and foundations through some challenging times.”

Institutions participating in the program include: Bellarmine University in Louisville; Berea College in Berea, Ky.; Bluegrass Community & Technical College District in Lexington, Ky.; Centre College in Danville, Ky.; Cumberland College in Williamsburg, Ky.; David Lipscomb University in Nashville; Lincoln Memorial University in Harrogate, Tenn.; Northern Kentucky Technical College in Fort Mitchell, Ky.; Pikeville College in Pikeville, Ky.; Rhodes College in Memphis, Tenn.; Spalding University in Louisville; Thomas More College in Crestview Hills, Ky.; University of Kentucky in Lexington; University of Louisville; University of Tennessee in Knoxville, Tenn.; Vanderbilt University in Nashville and Western Kentucky University in Bowling Green.

LOUISVILLE
New Healthcare Software Utilizes Fingerprint Scanning Technology

Advanced Imaging Concepts Inc. (AIC) is marketing a new product to the healthcare industry that integrates fingerprint scanning technology into a computerized system to store medical records, enabling medical practices to more easily comply with the privacy standards being implemented through the federal government’s Health Insurance Portability and Accountability Act (HIPAA).

Utilizing Indentix Inc.’s BioEngine technology, AIC’s IMPACT.MD product “brings fingerprint technology to the healthcare industry and enables users to electronically apply their signatures - via an encrypted template of their fingerprint – to patient medical records, allowing for quick, secure sign-off on private documents,” explained Jeff Amrein, CEO and founder of AIC.

Designed specifically for practices of 3 to 30 physicians, IMPACT.MD is adaptable to work for medical organizations of any size. Utilizing IMPACT.MD, a patient’s entire record can be scanned in a matter of seconds, regardless of size and color of the file’s papers, placing lab results, transcriptions and other important documents into folders. A search for the information can be achieved by entering a patient’s name, account number or social security number.

LOUISVILLE
Louisville Mayor to Join U of L Faculty as Executive-in-Reidence

Louisville Mayor David Armstrong has accepted a position as executive-in-residence at the University of Louisville’s College of Business and Public Administration.

Armstrong will assume the two-year position in January, after his mayoral term expires. At that point, the city will undergo a merger with Jefferson County that was approved in 2000. Armstrong announced earlier this year that he would not seek the office of metro mayor of the merged governments.

In his new post, Armstrong will teach courses in urban renewal and revitalization, areas in which he has a strong interest. During his term in office, Armstrong has been a staunch advocate for the revitalization of Louisville’s downtown business district and other areas of the city.

STATE
Appalachia's Technology Economy Lags But Has Potential to Improve

A report released by the Appalachian Regional Commission notes that while the region faces significant hurdles in order to catch up with the rest of the nation in terms in terms of technology, there are some encouraging signs.

The study, prepared for the ARC by the University of North Carolina Office of Economic Development, notes that “a number of Appalachian universities boast research programs rising steadily in the national rankings.”

Based on faculty quality, research grants, and graduate student enrollment, the study cited the University of Kentucky as being among the institutions that had the potential to evolve into technology clusters with high levels of entrepreneurship, training and job growth. Other universities mentioned were Cornell, Carnegie-Mellon, Penn State, Ohio State, West Virginia University, Virginia Tech, Georgia Tech, Emory and Mississippi State.

However, the study points out, the Appalachian region – which encompasses 200,000 square miles across 13 states ranging from New York to Mississippi – currently suffers from shortages of entrepreneurs, scientists, university education, and public and private research.

NORTHERN KENTUCKY
Airport Security Measures Provide Retailers with New Opportunities

With security issues forcing air travelers to spend more time in airports lately, a number of national retailers have decided to take advantage of a captive audience.

The Cincinnati/Northern Kentucky International Airport will soon be home to stores and restaurants with well-known names such as Brookstone, Wolfgang Puck Express, Johnston & Murphy, Damon’s Grill, PGA Tour Shop, and The Body Shop, among others.

Retailers figure that with the increased time being spent in the airport, passengers will have more opportunities to enjoy a meal or browse for a new book or gadget.

BARDSTOWN
Jideco Changes Result in Loss of 100-Plus Jobs in Bardstown

Jideco, a Japan-based auto parts supplier, has announced that it is cutting 95 full-time jobs and all of its temporary positions at its Bardstown plant.

With a goal of remaining globally competitive, some of the company’s production lines are being consolidated at other plants. In another instance, Honda is longer using the type of motor Jideco was producing for them.

Jideco operates 11 plants worldwide, with the Bardstown facility being its only U.S. location. The company has been in Bardstown for 16 years and as of July, employed approximately 460 workers.

FORT THOMAS
New Class A Office Space Under Construction in Fort Thomas

A lofty idea developed by two Northern Kentucky businessmen is coming to fruition with the construction of the Fort Thomas Executive Center, a new Class A office facility being built on the south side of the city.

The idea to convert an old IGA grocery and a former hardware store into office space is the brainchild of Bob Heil, a principal of KLH Engineering in Covington, and Wayne Steffen, owner of C&N Construction Inc. in Fort Thomas. The $3.5 million venture will encompass 60,000 square feet and ranks as one of the largest commercial projects seen in Fort Thomas in nearly 10 years. The complex could bring up to 125 new jobs and more than $100,000 in new income taxes each year.

The Executive Centre is being constructed on U .S. Route 27, about one mile away from Interstates 471 and 275.

LOUISVILLE
Ford Invests $50M to Increase Louisville Truck Production

Ford Motor Company is investing $50 million to expand and renovate its Kentucky Truck Plant in preparation for an increase in production of its F-Series Super Duty pickup trucks.

Plans call for a $25.2 million expansion of the paint shop, a $12 million overhaul of the body shop, and $8 million work on the plant’s chassis line. The plant currently produces 348,000 F-Series trucks per year, with the Super Duty trucks accounting for nearly 40 percent of the 911,000 F-Series vehicles sold in North America last year.

The company recently made the decision to cease production of the Excursion, its massive sports-utility vehicle, so that it could boost production of the Super Duties.

LOUISVILLE
Louisville Hires Chicago Firm to Highlight City as Convention Site

The Greater Louisville Convention & Visitors Bureau has hired a Chicago firm to promote the city as a business meeting destination.

The agreement with Hinton & Grusich is expected to elevate Louisville’s profile in the Chicago area, which is home to many associations that hold conventions around the country.

The decision to hire a convention representative comes in response to decisions by two of the city’s major conventions to move their meetings to other locations due to lack of space and technology. The National FFA Convention, which has brought up to 50,000 visitors to Louisville each year, has already announced plans to move to Indianapolis in 2006, when its contract with Louisville is up. The Recreational Vehicle Industry Association has told Louisville officials it is also looking for more space.

The bureau has signed a one-year agreement with Hinton & Grusich for $24,000, money that will be generated from an increased tax on hotel rooms in Louisville and Jefferson County.

OWENSBORO
Toyotetsu Set to Begin Trial Production at new $12M Plant

Toyotetsu MidAmerica LLC is in the process of installing equipment in its new $12 million Owensboro plant, where it will produce body weld assemblies for Toyota’s Sienna minivan.

The company is planning to initially hire 120 workers, who are expected to be operating two shifts by Spring 2003.

Christopher Cooper, human resources manager for the company, said the company will be in trial production until January, testing parts for quality standards.

The 174,000-square-foot facility is situated on 43 acres in Owensboro’s MidAmerica Park.

The plant is the second facility in Kentucky for Toyotetsu’s parent company, Toyotetsu America, Inc. (TTAI). TTAI’s plant in Somerset covers 597,000 square feet and employs some 465 workers.

Business Briefs

ALLEN

• R& S Truck Body Company has been sold to Godwin Manufacturing, headquartered in Dunn, North Carolina. Owner James Godwin says he hopes to eventually add another 75 employees to R&S’ current roster of 150.

ASHLAND

• Horizon Natural Resources, the coal production company formerly known as AEI Resources Inc., has acquired 300 million tons of coal reserves in West Virginia from Pittston Coal Co. Horizon anticipates mining one million tons of coal during the first year of operation and an average of six million tons per year over the next 15 years.
• The law firm of McBrayer, McGinnis, Leslie & Kirkland has opened a new office in Ashland, citing an increased amount of real estate work in the area.

BOONE COUNTY

• The National Register of Historic Places has officially added most of Big Bone Lick State Park to its registry. The list had previously included only four historic sites from the park’s original 80 acres; it now features 22 Big Bone sites spread among 512 acres. State officials are hopeful that the expansion on the registry combined with the park’s recent inclusion on the Lewis and Clark National Historic Trail will give the area a higher profile in the tourism sector.

CAMPBELLSBURG

• Auto-supplier Arvin Sango, Inc. has purchased the 70,000-square-foot facility that once housed the Electro-Wire and Alcoa Fujikura plants in Campbellsburg’s Industrial Park. The Indiana-based company, which produces exhaust assemblies, instrument panel reinforcement sub-assemblies, body panel stampings, side door impact beams and tubular manifolds for Toyota, expects to begin production in November with some 75 employees, about half of which will be local hires.

CAMPBELLSVILLE

• Campbellsville University has opened a new $2.5 million technology training center that provides both students and area businesses with the latest technology-based equipment and facilities. The center was built in direct response to the closure of Fruit of the Loom’s Campbellsville plant, which left 4,000 area workers without jobs and in need of technical training and education.

CORBIN

• CTA Acoustics is investing more than $10 million to make improvements at its Corbin plant, which produces thermal and acoustical insulation products used by the automobile industry.

COVINGTON

• The City of Covington has withdrawn a proposal to establish a new zone for sexually-oriented businesses near the Park Hills section of the city. However, city officials say they must find another area in which to create such a zone, in order to comply with a U.S. Supreme Court ruling that all communities must make allowances for such businesses.
• Cap Gemini Ernst & Young has leased 9,000 square feet on the fifth floor of RiverCenter Tower II in Covington, relocating from the Chiquita Center in downtown Cincinnati.
• Regent Communications, a Covington-based radio station holding company, is spending $62 million to acquire 12 stations from Brill Media, which has filed for bankruptcy. The purchase includes stations in Pennsylvania, Indiana, Colorado, Minnesota and Kentucky, giving Regent 73 stations in mid-sized or small markets.

CRESTVIEW HILLS

• Thomas More College has begun construction on a new observatory designed to expand the school’s astronomy program and enhance the research capabilities of the department of physics. The $410,00 project, which will be called The Bank of Kentucky Observatory, is being funded by a major donation from the bank and a grant from the National Science Foundation, among other sources. The observatory is expected to complete by the end of the year.

FORT THOMAS

• The Fort Thomas Board of Education has unanimously approved a property tax increase from $7 to $7.77 per $1,000 assessed value. The increase is expected to bring in around $1.5 million each year. According to the board, the majority of those funds will be used to keep teacher salaries competitive and help the district hire and keep its best teachers.

FLORENCE

• Defense contractor Keco Industries is closing its plant in Blue Ash, Ohio and expanding its Florence facility in order consolidate the work there. The $3.8 million expansion will add 94,000 square feet to the plant and could eventually result in hiring as many as 100 extra workers. The plant currently employs 207.

FRANKFORT

• Voith Fabrics, which produces fabric used for paper machines, has announced that it is closing this month, leaving 95 employees without jobs. The German-owned company has been operating in Frankfort since 1983, but is the smallest of the company’s facilities, a fact that ultimately led to its demise. The company will consolidate work at its other two North American plants.
• Indiana Die Tec, Inc. of Columbus, Indiana, has announced plans to begin construction of a new 22,000-square-foot manufacturing facility on 5.3 acres in the Franklin County Industrial Park #3. The expected date of operational startup is April 2003. IDT Tools, Inc., a wholly owned subsidiary of Nagoya Tokushuko Co., Ltd., produces die-casts, presses and forging dies for the automotive industry. The project is expected to create 15 new jobs.

FRANKLIN

• Smurfitt-Stone Container Corp. has been awarded a five-year contract with Tyco Adhesives that will result in a $3.5 million expansion of the company’s existing 42,000-square-foot plant, adding another 50,000 square feet. The expansion, which calls for Smurfitt-Stone to provide all of Tyco’s packaging, will necessitate hiring 10-15 additional workers.

FULTON

• HopFed Bancorp, Inc., the Hopkinsville-based holding company for Heritage Bank, has purchased two bank branches from Old National Bank of Evansville, Indiana. The acquisition increases the company’s deposit base by approximately $95 million. HopFed has also purchased Fall and Fall Inc., an insurance company that has operated in western Kentucky for more than a century.

GLASGOW

• The Glasgow Board of Education has approved a real estate tax hike in order to help fund facility improvements within the district. The tax will go from 55.7 cents per $100 of assessed property value to 57.7 cents.

HAWESVILLE

• Weyerhaeuser Co. is closing a portion of its Hawesville operation, leaving 142 people without jobs. The move to shut down the company’s corrugating medium machine is a result of the company’s recent acquisition of Willamette Industries. Weyerhaeuser’s fine paper and pulp operations in Hawesville will not be affected. Oregon-based Weyerhauser, one of the world’s largest integrated forest products companies, owns 10 other plants in Kentucky in addition to the Hawesville facility.

HAZARD

• The University of Kentucky has broken ground in Hazard for the school’s new Center for Rural Health building, a 57,000-square-foot facility that will be located on the campus of the Hazard Appalachian Regional Healthcare Medical Center. The $13.1 million project is expected to be completed in 2004 and will house family practice and dental clinics, classrooms, laboratories and faculty work stations.

KNOTT COUNTY

• The Kentucky State Board on Electric Generation and Transmission Siting has approved an application by Kentucky Mountain Power, LLC to construct a 520-megawatt electric power plant in Knott County. The Kentucky Mountain Power facility will be located on reclaimed coal mine in southwest Knott County, about eight miles from Hazard. The plant will burn a combination of newly mined coal and coal wastes.

LEXINGTON

• A new $10 million office building is planned for property at Hamburg Place, near I-75. The 75,000-square-foot building is scheduled to be completed by next spring. Also planned for the area is a Walgreen’s drug store, an Ethan Allen furniture store and Carrabba’s Italian Grill.
• The University of Kentucky is selling a 21-acre section of its agricultural research property in south Lexington that is no longer being used. The parcel is located in a prime development area of the city and is likely to be used for residential building. Proceeds of the sale, which is expected to bring at least $860,000, will be used to endow scholarships for College of Agriculture students.

LOUISA

• The completion of the 18-hole championship golf courses at Yatesville and Grayson Lake state parks has been delayed due to lack of state funding. The courses were scheduled to open in the spring, but officials say it will likely be next summer before that happens. Money has been allocated for the courses’ first development phases but there is not enough to complete items such as storage buildings and parking lots.

LOUISVILLE

• In a departure from its usual business philosophy, Papa John’s has added a new item to its menu: chicken strips. The new item comes in response to requests from franchisees, who have been asking for new items to offer their customers in order to remain competitive.
• Humana Inc.’s chief executive officer-market operations, Kenneth Fasola, has left the company to join rival UnitedHealth Group, where he will be a senior executive in the Minneapolis-based company’s main healthcare unit. Humana has said that its CEO and COO will now split Fasola’s responsibilities.
• Though the company is not elaborating on the details, Philip Morris has announced plans to begin producing a “reduced-risk” cigarette, starting next year. Louisville-based Brown & Williamson, a competitor in the tobacco market, is already in the process of test-marketing a new product, Advance Lights, that is said to offer lower levels of 42 different toxins.
• Marathon Ashland is moving its asphalt terminal on Louisville’s downtown waterfront to a plant in West Louisville in order to allow for the expansion of the city’s Waterfront Park. The company is also donating a one-acre tract valued at $250,000 to the Louisville Waterfront Development Corp. The park expansion will feature a children’s play area, an amphitheater, a rowing facility, a nature preserve and more walking paths and picnic areas.
• ISCO Industries LLC, which produces and distributes high-density polyethylene pipe (HDPE), has purchased Poly-Fab, Inc., an Illinois distributor of HDPE pipe, fittings and fusion equipment. In July, ISCO bought Oklahoma-based Cooper Wholesale as part of the company’s plan to expand into the south central region of the U.S. ISCO currently has facilities in Michigan, South Carolina, Alabama, California, and Florida in addition to its Kentucky headquarters and the newly-acquired operations in Oklahoma and Illinois.
• Thomas Industries Inc. has announced plans to purchase the assets of German-based Werner Rietschle GmbH + Co. KG for $83 million in cash and 1.8 million in Thomas common stock. Thomas produces pumps and compressors for the healthcare, transportation, and business equipment industries as well as other sectors.
• The president of Brown-Forman Corp.’s wine division, Thomas Burnet, has resigned from the company to accept the position of president and CEO of Southcorp Wines Americas, the North American division of Australian winemaker Southcorp Ltd.
• Safe Auto has signed a contract with TransPac Solutions, a division of Trover Solutions that services the property and casualty insurance sector. Under the contract, Safe Auto, an Ohio-based company that holds some 94,000 policies in six states, will outsource all of its subrogation recovery work to TransPac.
• As a result of a growing workload for the defense industry, Applied Surface Technology Inc. (AST) has leased nearly 60,000 square feet of space at Technology Park of Greater Louisville. AST, which provides industrial surface preparation, cleaning and painting services, will utilize the space to recondition and paint Phalanx weapon parts for Raytheon Systems Co., which is also located at Technology Park. Raytheon was recently awarded a U.S. Navy contract to convert additional Phalanx weapons systems to a new configuration.
• The Louisville Medical Center Development Corp. has launched a new program designed to assist more researchers and entrepreneurs in moving forward with their ideas. The QuickStart program is being funded by a $200,000 annual grant for two years that is part of the Kentucky Innovation Act. LMCDC’s incubator program currently houses three early-stage life sciences companies; officials hope to soon have as many as 15.
• Donald Finney, president of Kindred Healthcare Inc.’s health services division has resigned from the company to pursue other interests. Paul Diaz, president and chief operating officer for Kindred, has assumed Finney’s responsibilities until a successor is appointed to the position.
• Kentucky Manufacturing Co. has purchased Michigan-based Trailer Technologies Inc. for $4 million, enabling the company to manufacture commercial trailers from beginning to end. Trailer Technologies will continue to operate in Michigan a division of Kentucky Manufacturing.
• Dillard’s Inc. has announced that it will close its store in the Louisville Galleria, which is undergoing an extensive face-lift to turn the space into an entertainment, restaurant and retail complex and developers are working to bring in new names. Among those considering space is Maker’s Mark, which has hired a company to pursue the idea of owning and operating a nightspot in the new complex.

MADISONVILLE

• GE Aircraft Engines, which operates a plant in Madisonville, recently received orders valued at $289 million from Japan’s All Nippon Airways and Jet Airways of India.

MARION

• The 113,000-square-foot building that once housed Tyco International’s operations is now home to Par 4 Assemblies. The company, which is jointly owned by businesswoman Harumi Minami and Par 4 Plastics, assembles headlight, taillight and parking light housings that contain plastic parts molded by Par 4 Plastics. Company officials say Par 4 Plastics and Par 4 Assemblies will work together but are separate operations. Par 4 Assemblies currently employs around 25 people and expects to expand to at least 125 by mid- to late 2004.

MERCER COUNTY

• With gross revenues from room rentals down more than $154,000 from last year, the Harrodsburg/Mercer County Tourist Commission Board has unanimously voted in favor of a referendum to allow the sale of alcohol by the drink in area restaurants in hopes of boosting the county’s tourism sector. Hotel and inn managers say they are losing business because small conventions are choosing to go to towns where attendees have the choice to have a drink with dinner.

NEWPORT

• The City of Newport has lowered its property tax for the 17th consecutive year. Newport property taxes have gradually dropped from $6.49 per $1,000 of property value in 1986 to $2.58 per $1,000 this year. Newport Mayor Tom Guidugli says the low rates are making Newport more desirable to potential homeowners and the city is continuing to make improvements to its school system.

NORTHERN KENTUCKY

• The Northern Kentucky Chamber of Commerce has merged its international trade committee with the Northern Kentucky International Trade Association. The consolidated organization will operate as the Northern Kentucky International Trade Association and will be headquartered at the Chamber’s offices in Ft. Mitchell.

OLDHAM COUNTY

• Sports Blast, a multi-use sports facility formerly known as Soccer Blast, is closing down after an unsuccessful push to accommodate more indoor sports and ongoing legal problems related to payroll issues. The recently expanded facility is now up for sale as the company looks to focus on its facilities in Lexington and Minnesota, which reportedly are demonstrating more growth potential.

OWENSBORO

• MidAmerica Jet Inc., an Owensboro-based aircraft charter company, has added a 2000 Beechjet 400A to its fleet. The aircraft seats a maximum of nine passengers and can fly at up to 539 mph. In addition to the new Beechjet, MidAmerica owns eight other planes with seating ranging from four to 19 and offering speeds of up to 500 mph.
• By a vote of 3-2, the Owensboro City Commission has approved the sale of alcohol on Sundays for restaurants that seat 100 and receive at least 50 percent of the revenue from the sale of food.

PADUCAH

• Paducah-based Paxton Media Group has acquired the Vincennes (Indiana) Sun-Commercial, a daily newspaper with a circulation of 12,100. Including its most recent acquisition, Paxton owns and operates 27 daily newspapers in nine states with a total circulation of approximately 347,000 as well as an NBC-affiliated television station in Paducah.

PIKEVILLE

• Lexington-based Lodestar Energy has been forced to close a Pike County mining operation after a blast sent a massive boulder into a nearby mobile home. The company has been issued a notice of noncompliance and is not being allowed to continue mining operations at the site until it submits changes in its blasting plans to the Kentucky Cabinet for Natural Resources and Environmental Protection.
• Pikeville Methodist Hospital has announced that it will stop accepting Anthem Blue Cross and Blue Shield insurance at the end of the year, saying the insurance company is not providing adequate reimbursements for medical services. Anthem is the largest health insurer in Kentucky, serving more than a million residents.

RUSSELL COUNTY

• Hitachi Cable has officially opened its new automotive parts plant in Russell County, where it is producing hoses, tubes, fittings and connector assemblies. The plant currently employs approximately 50 workers and is expected to increase the workforce in the coming months.

SOMERSET

• Eagle Carriers Ltd. has shut down after failing to obtain a USDA loan that would have enabled the bankrupt trucking company to remain in business. The closure leaves 350 people without jobs.

STATE

• Kentucky Educational Television (KET) has extended its program hours and is now on the air around the clock, seven days a week. Since its inception in 1968, KET has become the largest PBS member network in the nation.
  
  
  

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