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FAST LANE - February
2003
SCOTTSVILLE
J.M. Smucker Co. Announces New $51 Million Facility
 The
J.M. Smucker Company has announced plans to build a new production facility
in Scottsville, Kentucky, where it will produce Smucker’s Uncrustables®,
a line of thaw-and-serve peanut butter and jelly sandwiches.
The Orrville, Ohio-based
company, which recently acquired the JIF peanut butter plant in Lexington
from Procter & Gamble, introduced Uncrustables in 1998 and has seen
sales grow steadily. The new facility will help meet the company’s
growing capacity requirements and provide a more central location for
suppliers and Eastern- and Southern-based customers, said company officials.
Smucker expects
to break ground on the 50-acre site this spring, with production to
begin in Spring 2004. The new $51 million facility is expected to bring
approximately 150 new jobs to the Scottsville area and contribute approximately
$4 million per year in wages and benefits.
LEXINGTON
Effects of MRLS Continue: Keeneland Cancels July Sale
Citing the devastating
effects of Mare Reproductive Loss Syndrome (MRLS) on Kentucky’s
2002 foal crop, Keeneland officials have announced that its July Selected
Yearling Sale and the October Yearling Sale will take a one-year hiatus.
Officials plan to
resume the July Sale in 2004 with a revised format. This year’s
Selected Sale will be incorporated into the first two days – the
“selected sessions” – of Keeneland’s September
Yearling Sale.
 When
MRLS attacked Kentucky’s breeding industry in the spring of 2001,
approximately 30 percent of the pregnant mares spontaneously aborted.
A significant majority of the horses that were aborted were “early”
foals (ones whose dam was bred early in the breeding season in hopes
of giving their offspring a physical advantage over foals born later
in the year). Typically, early foals comprise the majority of Keeneland’s
July catalog.
“The decision
was made only after extensive discussions with our consignors and buyers,”
said Keeneland President and CEO Nick Nicholson. “Because of MRLS,
this year’s yearling crop is fewer in number and the majority of
this year’s crop will not be ready for auction by July. Most of
the horses will need until September to physically develop.”
GLASGOW
Mallory AC Acquires Vishay Auto Parts Plant
A group of officers
with Indianapolis-based Mallory AC have acquired the Glasgow plant and
facilities of Vishay Intertechnology Inc. – Mallory’s parent
company – and plan to form a new company that that will produce
electronic capacitors.
The new company,
Mallory AC Capacitors LLC, has also purchased the Motor Start product
line of BCcomponents, Inc. at Columbia, South Carolina and intends to
consolidate its South Carolina assets into a programmed expansion of
its existing 50,000-s.f. Glasgow, facility.
The consolidation
of the two entities into one company makes Mallory AC Capacitors the
largest motor start manufacturer in the world.
The transaction
resulted from a partnership that was formed in a management buy-out.
The management team partnered with Winchester Capital Technology Partners,
which is also participating in the new company.
“The strength
of this transaction is in the merger of two market-leading capacitor
products now united under an experience and proven management,”
said Ceasar N. Anquillare, chief executive officer of Winchester and
chairman of Mallory. “We look forward to a successful venture and
the prospect of further expansion in the near future.”
The new company
plans to increase the local workforce by up to 30 percent in order to
accommodate future growth.
Wayne Hodges will
serve as president and CEO of Mallory AC. Ron Voegele will serve as
the new company’s chief financial officer.
NORTHERN KENTUCKY
Cincinnati/N. Kentucky Airport Ranks Among Travelers'
Favorites
A recent survey
of travelers reports that the Cincinnati/Northern Kentucky International
Airport is considered one of the top airports in the country by airline
passengers.
 Travelers
were asked to rate airports based on criteria such as ease of use, convenience,
terminal comfort and security. Chicago’s O’Hare Airport was
ranked first, followed by Cincinnati, Los Angeles and Pittsburgh.
The Cincinnati airport
ranked best in the nation in terms of security screening, overall value
for food and terminal signage.
Another study indicates
that the Cincinnati airport is the nation’s only large airport
hub that has increased its flight service since the events of September
11.
Conducted by air
travel advocacy organization Reconnecting America, the study showed
that Cincinnati’s weekly flight service has increased by eight
percent. A significant portion of the credit for that increase, say
experts, is attributable to Comair. The Northern Kentucky-based regional
air carrier for Delta Air Lines has added 700 jobs and a number of new
markets while other carriers have been forced to cut both.
STANFORD
First Southern Bancorp Acquires South Central Bancshares
for $55M
Stanford-based
First Southern Bancorp, Inc. has signed a definitive merger agreement
with South Central Bancshares Inc. of Russellville under which South
Central will be acquired by First Southern in a cash transaction valued
at $55 million.
First Southern President
and CEO Jesse Correll said the merger was a “natural extension
of our franchise” and would provide the combined company with strong
presence in Western Kentucky.
First Southern Bancorp
is the parent company of First Southern National Bank, which operates
out of 14 offices in southern and central Kentucky, with locations in
Stanford, Monticello, Somerset, Lexington, Lancaster, Richmond, Nicholasville,
Paint Lick, Crab Orchard and Hustonville. As of September 30, 2002,
First Southern Bancorp had total assets of $401 million and First Southern
National Bank had total deposits of $325.9 million. First Southern Bancorp
is also the controlling shareholder of United Trust Group, Inc., an
insurance holding company headquartered in Springfield, Illinois.
South Central Bancshares
is the holding company for The Citizens National Bank of Russellville,
located in Russellville, First Bank and Trust Co. of Princeton, Kentucky,
located in Princeton, and Citizens State Bank of Ballard County, located
in Wickliffe. At September 30, 2002, South Central had total assets
of $322 million and its banking subsidiaries had combined total deposits
of $274.6 million.
STATE
Leadership Kentucky Presents Clark with Flame of Excellence
Award
 Noted
historian Dr. Thomas Clark is the first recipient of Leadership Kentucky’s
Flame of Excellence Award, honoring outstanding Kentuckians who have
forged the way for others.
“Dr. Clark,
who is almost one century young, should serve as the poster child and
major advocate for lifelong learning, libraries, education reform and
our state’s history center and is proof positive that education
does pay in so many ways,” said Ginni Fox, a board member of Leadership
Kentucky. “We are honored to have the opportunity to recognize
him for his unwavering vision in support of education for all Kentuckians.”
Established in 1984,
Leadership Kentucky is an independent, non-profit educational organization
dedicated to improving the knowledge of Kentucky’s complex issues
among leaders across the state. As one of the oldest and largest statewide
leadership development programs in the country, Leadership Kentucky
has amassed 920 graduates who live in virtually every region of the
Commonwealth.
The organization’s
goal is to foster understanding of how the state’s issues are interconnected
and help forge new relationships among community and regional issues.
Applications for the 2003 Program are now available. To receive an application,
contact Leadership Kentucky, P.O. Box 1172, Frankfort, Kentucky 40602;
fax (502) 695-4802. Or e-mail, lky@leadershipky.org.
CAMPBELLSBURG
Creekstone Farms Expands With Purchase of Kansas Beef
Plant
Creekstone Farms
Premium Beef LLC has purchased the former Future Beef Operations plant
and assets in Arkansas City, Kansas for $28.7 million.
Creekstone Farms,
a privately held producer and marketer of Angus beef, plans to use the
400,000-s.f. facility to process its fresh and cooked Black Angus products.
“This is a
significant milestone for us,” said Louisville native John Stewart,
who founded Creekstone seven years ago. “Having our own dedicated
processing facility gives us control of our future brand development
in terms of volume, processing capability, technology and, most importantly,
food safety.”
Creekstone Farms
had been processing its beef at the former Future Beef Operations plant
– named “Plant of the Year” by Food Engineering magazine
– in the months prior to Future Beef’s Chapter 7 filing and
subsequent closing in August 2002. “This facility allows us to
realize the full potential of our business model and maximize our branding
strategy. It’s a dynamic fit for us,” added Stewart, who expects
to reopen the plant next month with approximately 500 employees.
Creekstone products
are distributed throughout the U.S. and Asia.
BOONE COUNTY
Historical Society Buys Community With Goal of Avoiding
Development
 The
Boone Co. community of Rabbit Hash has been purchased by the Rabbit
Hash Historical Society in an effort to preserve the historic village.
The historical society
bought the town from Lowell Scott, a native of Rabbit Hash who began
buying up parcels in 1978 in order to protect it from being overrun
by development. Area residents have been concerned that the community
could be adversely affected by commercialism resulting from the nearby
Grand Victoria riverboat casino, based across the Ohio River in Rising
Sun, Indiana.
Scott sold seven
buildings and 3.5 acres of property to the historical society for $150,000,
far less than its value according to society members.
The historical society
was recently bequeathed $250,000 by the estate of Edna Flower, a Cincinnati
resident who had a summer home in Rabbit Hash. Flower expressly designated
the funds go to the preservation of the community.
The Rabbit Hash
general store, which dates to 1831, is already on the National Register
of Historic Places and the society has applied for National Register
designation for the entire district to help protect it from development.
STATE
Getaway Guide Showcases Charms of the Bluegrass State
STATE
More Information on State Labor Market Now Available
on the Web
Companies seeking
more information on Kentucky’s labor market will now find an extensive
amount of data readily available through the Kentucky Cabinet for Workforce
Development Web site at www.kycwd.org.
The Web site now
includes information on underemployment, fringe benefits, labor shortages,
vacancies and educational credentials that was previously unavailable.
The site also includes a new career exploration section geared toward
students and those seeking jobs.
In addition to statistics,
the site features a comprehensive report and analysis of the information
by researchers at the University of Kentucky and the University of Louisville.
“This new data
will provide a valuable resource for businesses and economic development
professionals as they make decisions about business expansions or site
locations,” explained Ken Oilschlager, president of the Kentucky
Chamber of Commerce and chairman of the Kentucky Workforce Investment
Board (KWIB), which has worked with the cabinet to provide the information.
The information
included on the site comes at the request of employers, individuals
and state and local officials, who requested the data to supplement
existing workforce statistics. Most of the information is available
by county, groups of contiguous counties, area development districts
and workforce investment areas.
LOUISVILLE
Tumbleweed is on the Roll Again with New $18M financing
Deal
 Louisville-based
Tumbleweed Inc. has completed an $18 million financing package with
GE Capital Franchise Finance Corporation that puts it on track to launch
its first expansion in two years.
The financing package
consolidates all of the company’s outstanding debt and provides
approximately $3 million for the remodel and expansion of its Southwestern-style
restaurants.
Construction is
already underway on two restaurants – one in Madisonville, Ky.
and another in Osh-Kosh, Wis. – that feature Tumbleweed’s
new design, which includes more square footage in addition to an updated
interior and façade. A Columbus, Ohio restaurant that was damaged
in a fire is also slated to reopen.
Tumbleweed opened
its first restaurant in 1975 in New Albany, Indiana and now operates
57 restaurants in Ohio, Illinois, Indiana, Kentucky, Michigan, Wisconsin,
Germany, Jordan, Egypt, Turkey and England.
Tumbleweed also
plans to reinstate its program for new franchisees. Currently, 26 of
its stores are franchised.
VERSAILLES
KCTCS To Move Headquarters to Former Texas Instruments
Plant
 The
Kentucky Community and Technical College System has announced plans
to move its headquarters from Lexington to Versailles, where it has
entered into a lease-purchase agreement to occupy the former Texas Instruments
facility.
KCTCS President
Dr. Michael McCall said the move is being made in order to consolidate
its administrative operations, which are currently housed in five different
buildings.
As part of the agreement,
the City of Versailles will renovate the building and then lease it
to KCTCS for the cost of the renovation (estimated to be approximately
$6.3 million). When the renovation is paid for, the city will donate
the building to KCTCS.
LEXINGTON
Trane Reorganization Results in Loss of 200 Jobs at
Lexington Plant
Trane Co.’s
Lexington facility is one of six that will lose jobs as result of the
Wisconsin-based company’s decision to consolidate its coil operations
into one facility.
Trane produces commercial
air conditioning systems and currently employs approximately 1,400 workers
in Lexington. Some 200 of those jobs will be eliminated over the course
of this year.
Company officials
said the consolidation will improve the quality and efficiency of coil
production.
Other Trane locations
affected by the cutbacks include facilities in Clarksville, Tennessee;
Forsyth and Macon, Georgia; Lynn Haven, Florida; and Rushville, Indiana.
EASTERN KENTUCKY
Medicare Changes Force Staff Cuts at Appalachian Regional
Healthcare
 Faced
with a $6 million reduction in funding from Medicare, Appalachian Regional
Healthcare has eliminated 181 jobs at facilities in Eastern Kentucky
and West Virginia.
In Kentucky, ARH
facilities in Hazard, South Williamson and Harlan were most affected,
losing a total of 125 jobs.
Officials with ARH,
a not-for-profit provider that receives nearly 90 percent of its funding
from Medicare and Medicaid, emphasized that the majority of positions
eliminated were those involving clerical work, housekeeping and maintenance
and would not affect patient care.
ARH operates nine
hospitals 17 clinics and eight home-health agencies that serve 500,000
people in 20 Eastern Kentucky and West Virginia.
The system provides
more than $50 million in free healthcare to those who are uninsured
or unable to pay.
NORTHERN KENTUCKY
Northern Kentucky Tri-ED Receives $500,000 'New Economy'
Grant
The Northern Kentucky
Tri-County Economic Development Corporation (Northern Kentucky Tri-ED)
has received a $500,000 from the Kentucky Economic Development Finance
Authority through the Kentucky Office for the New Economy to market
Northern Kentucky to New Economy industries.
Northern Kentucky
Tri-ED will match the grant amount, creating a $1 million total effort
over a two-year time frame for the New Economy regional marketing program.
Work is now under
way on the new marketing research and implementation program, with the
goal of increasing the number of New Economy industries in Northern
Kentucky. Tri-ED plans to achieve that goal through the direct recruitment
of both firms and entrepreneurs and by nurturing existing area companies
with New Economy characteristics.
A key component
of the marketing program will be to identify Northern Kentucky’s
strengths, weaknesses and opportunities to attract, retain and/or expand
New Economy industries in the region. Tri-ED will retain an independent
consultant to conduct the research and identify strategies for the marketing
program.
Dr. Bill Brundage,
Commissioner for the Kentucky Office for the New Economy, noted that
this project is very important to the entire Commonwealth as well as
to Northern Kentucky.
“Not only will
this project help us market Kentucky, it will help us further define
the infrastructure expansions and government incentives that are necessary
to help new and existing technology companies prosper in our state,”
stated Brundage.
Founded in 1987,
the Northern Kentucky Tri-County Economic Development Corporation serves
as the primary economic development marketing agency for Boone, Kenton,
and Campbell counties in Northern Kentucky. From inception through year-to-date,
Northern Kentucky Tri-ED has been responsible for 354 new business locations
or expansions, 36,020 direct new jobs and more than $3.33 billion in
new investments.
LEXINGTON
Corporate Cutbacks in Training Bring About Wyncom's
Closure
Wyncom Inc., which
produced seminars that helped launch motivational speakers such as Tom
Peters and Stephen Covey to national prominence, has closed its doors
for good.
The company, founded
by the late Larry Holman in the mid-‘80s and incorporated as Wyncom
in 1992, had been struggling financially for several years despite investments
by Advent International Corp, a Boston venture capital concern that
has owned a portion of the company since 1997.
The situation intensified
in the aftermath of 9/11 and worsened as the nation’s recession
prompted companies to cut their budgets for training and seminars.
At its peak as one
of the nation’s leading business seminar producers, Wyncom had
a staff of 160; by last month, only eight remained.
TENNESSEE
Tennessee to Phase Out, Combine Dozens of University
Programs
The Tennessee Board
of Regents has announced plans to phase out 20 university degree programs
and 26 community college programs that have had consistently low enrollment.
The plan also calls for the consolidation of two dozen other programs.
The regents’
plan, which is the result of a cost-reduction ordered by the state’s
General Assembly, is expected to save approximately $1 million. The
institutions will be allowed to reallocate the funds to other programs.
The board also set
up a common curriculum core for freshman and sophomores at its six universities
and 13 community colleges, designed to facilitate the transfer of credits
between the schools. The overall goal is to encourage more students
to enroll at less-expensive community colleges and then transfer to
four-year universities.
INDIANA
Toyota Hires 400 More Workers Than Expected at Princeton
Plant
 Toyota
is planning to hire 400 more workers than it had originally anticipated
for its Princeton plant, where it produces Tundra trucks, Sequoia SUVs
and Sienna minivans. The additional workers are needed by March to handle
a projected increase in consumer demand. With the new hires, the facility
will employ 4,700 workers.
INDIANA
Cintas Announces Plans to Build New $7.5M Plant in
Jeffersonville
Cintas, a Cincinnati-based
uniform supplier, has announced plans to invest $7.5 million in a new
production and laundering facility in Jeffersonville, just north of
downtown Louisville.
The new plant is
being built to help reduce the workload at the company’s nearby
Louisville facility. Ninety to 100 new jobs are expected to be created
as a result of the new operation, with another 30-40 transferring from
the Louisville plant.
Though Cintas has
not yet purchased property for the new plant, the company is focusing
on property in the Bridgeport Business Center, which offers easy interstate
access and is located near the proposed Ohio River bridge that will
connect Louisville with Clark County, Indiana.
Cintas’ plans
involve building a 56,000-square-foot structure on 6.5 acres.
The Jeffersonville
City Council has already approved a resolution that provides over $666,000
in tax breaks.
Business
Briefs
BARDSTOWN
- Heaven Hill Distilleries,
Inc. has acquired trademark rights from Global Perspectives, Inc.
and worldwide distribution rights from Wingard, Inc. to Hpnotiq, a
rapidly growing imported blue French Liqueur that is a blend of French
cognac, premium vodka and tropical fruit juices. Initially introduced
18 months ago in the Northeast, Hpnotiq has quickly won broad consumer
approval as it is introduced to other regions of the country. In fact,
the liqueur has become so popular that operators have faced challenges
in keeping sufficient stock. Hpnotiq sells for an average retail price
of $24.95 per bottle.
BEREA
- Berea Hospital
is soon to be part of Catholic Health Initiatives’ nationwide
healthcare network. The Denver-based organization operates 61 hospitals
and 45 long-term care facilities throughout the country, including
Caritas Health Services in Louisville, Flaget Memorial Hospital in
Bardstown, Marymount Medical Center in London, Our Lady of the Way
Hospital in Martin, and Saint Joseph Hospital and Saint Joseph Hospital
East in Lexington.
- The Kentucky
Artisan Center, which will showcase Kentucky artists and their crafts,
is scheduled to open by mid-July at Exit 77 on I-75. The $8 million
center is expected to draw thousands of visitors to the area.
CALVERT CITY
- HopFed Bancorp
Inc., the Hopkinsville holding company for Heritage Bank, has announced
plans to build a new branch in Calvert City. The new location will
be the ninth location for Heritage Bank, which has banks in Murray,
Elkton, Cadiz, Benton and Fulton.
CAMPBELLSBURG
- Automotive supplier
Arvin Sango, Inc. has purchased the former Electro-Wire plant in Campbellsburg,
where it is now manufacturing exhaust systems, instrument panel reinforcement
subassemblies, body panel stampings, side door impact beams and tubular
manifolds for Toyota. The Madison, Indiana-based company currently
employs a staff of nearly 80 at its new facility and expects to hire
more in the coming months.
CAMPBELLSVILLE
- Campbellsville
University has opened a satellite location in Louisville, that is
offering an associate’s degree in administrative technology and
general studies; bachelor’s degree programs in organizational
management and pastoral ministry; and master’s degree coursework
in theology. University officials expect to offer master’s degree
programs in business administration and education (already offered
at the Campbellsville campus) in the near future.
COALTON
- Kentucky Electric
Steel Inc. has closed its Coalton production facility, citing poor
performance and weak demand for products. The facility employed 270
hourly workers and 70 salaried workers.
COVINGTON
- Ashland Inc.
has been ordered to pay $9 million in fines and restitution for a
1997 explosion that injured five employees and a firefighter at its
refinery in St. Paul Park, Minnesota. An investigation by the U.S.
Justice Department and the Environmental Protection Agency concluded
that the explosion was caused when Ashland put volatile hydrocarbons
into its sewer system. Court-ordered upgrades to the St. Paul plant
are estimated to cost an additional $4 million.
- Omnicare Inc.
has bought Cleveland-based NCS Healthcare Inc. for $460 million, making
Omnicare one of the nation’s largest providers of geriatric pharmacy
services. The deal comes after an ardent pursuit on the part of Covington-based
Omnicare, which paid Genesis Health Ventures Inc. of Pennsylvania
$22 million to terminate its merger agreement with NCS.
- Regent Communications
has acquired two FM radio stations in the Fort Collins/Greeley, Colorado
market for $7.75 million in cash and stock. The purchase of KKPL-FM
and KARS-FM gives Regent ownership of five FM stations in the Fort
Collins/Greeley market. The Covington-based company now owns 75 stations
in 17 markets.
CRITTENDEN
- Orange Plastics
has laid off its staff of 64 workers at its plant in Crittenden, where
it produced plastic bags. The operation, which formerly operated as
Joseph Edward Co., was purchased by Orange Plastics about a year ago.
DRAKESBORO
- The Tennessee
Valley Authority’s plan to install a scrubber at the Paradise
Fossil Fuel Plant near Drakesboro is expected to create 300 two-year
temporary jobs and some 40 permanent positions. Construction of the
new scrubber, which will use wet limestone technology to remove sulfur
dioxide particulates from flue gas in the coal-fired plant, is expected
to start in July.
FLORENCE
- Shire Pharmaceuticals
Group has filed an application with the Food and Drug Administration
for approval to market Adderall XR as a treatment for adults who suffer
from attention deficit hyperactivity disorder (ADHD). The drug is
currently authorized for use in children with the disorder. Shire
is based in the United Kingdom but has its U.S. headquarters in Florence.
- Florence-based
Xanodyne Pharmacal Inc. has introduced a nonprescription, coated caffeine
tablet to relieve fatigue and drowsiness. Lucidex, which is designed
to avoid stomach upset, is being sold at pharmacies and major grocery
stores throughout the country.
FRANKFORT
- Topy Industries,
Ltd. has announced that its newly expanded Frankfort plant will supply
wheels for the 2004 Ford F-150 trucks. The company recently completed
a $10 million expansion that is expected to add some 50 new jobs to
the employee base. In addition to Ford, Topy supplies steel and aluminum
wheels for Daimler Chrysler, GM, Honda, Isuzu, Mazda, Nissan, Subaru,
Suzuki and Toyota.
GARRARD COUNTY
- Garrard County
Hospital and Long-Term Care Facility has ended its affiliation with
Healthcom, a Tennessee company that had been operating in the capacity
of chief financial officer for the hospital over the past two years.
Healthcom had been brought in to help handle the financial and management
aspects of the facility. Hospital officials say that assistance is
no longer required and that taking care of those issues internally
will save money since a management fee will no longer be paid.
HIGHLAND HEIGHTS
- The Toyota USA
Foundation has awarded a three-year, $1 million grant to Northern
Kentucky University to help fund a pre-college math and science education
program. The Youth Scholars in Math and Science Program is aimed at
increasing the awareness and abilities of middle school students and
will offer activities year ‘round, including four-week summer
day camps and workshops.
HOPKINSVILLE
- International
Paper is closing its 20-year-old Hopkinsville plant next month, leaving
more than 300 workers without jobs. Company officials cited reduced
customer demand and increased competition as well as the overall economy
as the factors involved in the shut-down. However Hopkinsville officials
are hopeful that two new industrial projects now in the works will
help offset the job losses resulting from the closure. TG Automotive
Sealer Kentucky is in the process of hiring more than 150 workers,
while a new Wal-Mart distribution center is expected to need more
than 650 when it opens this spring.
LOGAN COUNTY
- As part of its
ongoing efforts to make the county more business-friendly, Logan County
has embarked on a number of enhancements to its infrastructure. The
Logan Todd Regional Water Commission has launched a new water treatment
operation with the goal of treating four to five million gallons per
day with the capacity to treat 10 million gallons per day. In addition,
a new wastewater treatment plant is now complete that can accommodate
up to a 300 percent increase in service capacity.
LONDON
- A 10,500-s.f.
Sara Lee distribution center will be the first facility in a new 18-acre
commercial park on U.S. 25 being developed by Brock Enterprises. The
Sara Lee facility is expected to be completed by summer, employing
approximately 25 workers.
LOUISA
- Three Rivers
Medical Center is undergoing a $1.5 million expansion project that
will add 5,000 s.f. to the hospital’s emergency room.
LOUISVILLE
- Brown-Forman
has acquired the remaining interest the Italian company that owns
and produces Tuaca Liqueuer. By acquiring the additional 55 percent
interest in Distillerie Tuoni e Canepa, Brown-Forman is now the sole
owner of the company. Brown-Forman bought a 45 percent share in Tuoni
e Canepa in December 2000 and has been the U.S. distributor for the
company since May 1999.
- Louisville-based
FullCircle Registry Inc. has purchased AskPhysicians.com, a Web site
that enables visitors to get answers to health questions from board-certified
doctors. FullCircle Registry is a technology-based provider of emergency
information, document management, and healthcare benefits programs
and services. Terms of the transaction were not disclosed.
- Plans have been
announced to open a jazz club in The Glassworks, a historic building
in downtown Louisville that features retail, commercial and residential
space surrounding a working center that is dedicated to the art of
glasswork. The 4,000-s.f. Jazz Factory is expected to be opened this
spring, said owner Ken Shapero, who has left his job as marketing
and communication manager for UPS Aviation Technologies Inc. to open
the club.
- Two Louisville
energy companies have been sold to Constellation Energy Group of Baltimore
for an undisclosed amount. Fellon-McCord & Associates Inc., a
natural gas and electricity consulting and management services firm,
and Alliance Energy Services LLC, which provides natural gas supply
and transportation services, were both owned by Allegheny Energy Inc.,
a Maryland company that has been undergoing financial difficulties.
The sale of the Louisville firms, which serve more than 90 corporate
accounts with approximately 1,000 individual facilities, is part of
Allegheny’s efforts to regain financial stability and focus on
its fundamental operations, said Allegheny officials. Constellation
is a Fortune 500 company that owns a number of energy-related businesses,
including Baltimore Gas and Electric.
- The Louisville
Medical Center Development Corp (LMCDC) has announced plans to purchase
a downtown retail center and produce market known as The Haymarket
to provide space for future expansion of a biotechnology research
park for the Louisville Medical Center. The 151,000-s.f. property,
owned by A. Thomas and Sons Meat Co. of Louisville, consists of three
buildings and a parking lot. Existing tenants operating businesses
on the property will be allowed to remain there until concrete plans
are developed for the property. LMCDC was created by the University
of Louisville, Jewish Hospital HealthCare Services Inc., Norton Healthcare
Inc. and the city of Louisville with the mission of developing the
Louisville Medical Center.
- Plans have been
announced for the construction of a $1.7 million pedway that will
connect the Galt House Hotel with the Kentucky International Convention
Center. Hotel and city officials say the steel and glass structure
will be a great asset in terms of marketing the city to associations
looking for convention sites. A pedway already connects the convention
center with the Hyatt Regency Louisville.
- Hillerich &
Bradsby Co., which produces the famous Louisville Slugger baseball
products, has signed agreements to license baseball-related athletic
clothing and a line of athletic sunglasses using the Louisville Slugger
name. G-III Apparel of New York plans to produce men’s, women’s
and youth clothing with a baseball-inspired look. Sun Dog Eyewear
will manufacture shatterproof, distortion-free sunglass lenses, expected
to retail for approximately $40.
- Bellarmine University
has received a $1 million grant from the James Graham Brown Foundation
that will be used to endow student scholarships. The gift is one of
the five largest in the school’s history.
- Thomas Industries
has renamed its pump and compressor business Rietschle Thomas to reflect
Thomas’ recent purchase of Werer Rietschle GmbH. The new name
will serve as the brand name of products that were previously marketing
separately under the Thomas and Reitschle brands. Thomas’ other
product lines will not be affected.
- Yum! Brands is
moving its Long John Silver’s and A&W Restaurants support
center from Lexington to Louisville in order to streamline operations.
Yum!, which bought the companies from Yorkshire Global Restaurants
last year, said the “vast majority” of its 135 Lexington
employees will be offered jobs in Louisville.
- DMI Furniture
has consolidated its residential furniture products divisions and
will now market the lines under the Wynwood name. The company previously
marketed residential products under both the Wynwood and DMI Desk
Co. labels.
- Louisville-based
Guthrie/ Mayes Public Relations is one of only five firms from an
eligible 100 worldwide to win a 2002 Globe Award from the WORLDCOM
Public Relations Group. The award was presented to Guthrie/Mayes for
its work on the “Go GED” education campaign for the Kentucky
Council on Postsecondary Education.
MANCHESTER
- The manufacturing
arm of TexStyle Home Fashions is moving its operations from Manchester
to Shanghai, China, leaving 100 Clay County workers without jobs.
Officials with the company, which will maintain a distribution center
in Manchester, said the move was forced by changing conditions in
the industry.
MAYSVILLE
- Approximately
25 percent of the employees at Maysville’s Crystal Tissue plant
have been permanently laid off. Company officials say the lay-offs
are due to the fact that the gift wrap products manufactured there
are seasonal; as a result, the plant can’t support the full 185-member
staff year-round. The company, which was purchased by Memphis-based
Cleo Inc. in October, will continue to hire seasonal workers and may
possibly pick up some of Cleo’s gift bag business.
MERCER COUNTY
- After more than
two years of hearing debates on the subject, Mercer County magistrates
voted 4-3 in favor of reducing the minimum building lot size from
five acres to 2.5. Residents opposed to the reduction cite the loss
of the area’s rural feel. Those favoring the change say it will
help preserve farm land and supported their position by pointing to
the negative effects being felt by other counties that increased their
minimum acreage.
MURRAY
- A U.S. Department
of Labor grant totaling up to $3.4 million has been made available
to help 680 workers laid offer from Mattel, which moved the plant’s
operations to Mexico last year. The grant project will be handled
by the West Kentucky Workforce Investment Board and will be used to
help former employees find new jobs and acquire skills training.
MONTGOMERY COUNTY
- Montgomery County
is utilizing a $400,000 state grant to fund a shrimp nursery and processing
facility in hopes of helping former tobacco farmers who are looking
for alternative crops. The facility is expected to be operational
by September and will allow members of the Kentucky Shrimp Growers
Cooperative Association to go directly to market with their product.
A local processing center is expected to be a great help for local
growers, who have received plenty of orders but been unable to fill
them because of the lack of a processing facility.
OLDHAM COUNTY
- Oldham County
has completed the master plan for its first designated business park,
a 750-acre tract located adjacent to Interstate 71. In addition to
visibility and access to the interstate, CSX rail transportation is
located along the northern boundary of the site.
PIKEVILLE
- Pikeville-based
Community Trust Bancorp Inc. has converted its subsidiaries, Community
Trust Bank N.A. and Trust Co. of Kentucky N.A., from national associations
to Kentucky charters. The conversion, which will also involve changing
the name of Trust Co. of Kentucky to Community Trust and Investment
Co., was initiated to reduce administrative costs. Community Trust
Bancorp operates 69 branches in eastern and central Kentucky and five
branches in West Virginia.
RICHMOND
- Asahi Forge of
America Corp. has announced that it will build its first major manufacturing
plant in Richmond’s Auto Parts Technology industry park. The
company, which specializes in press forging for the automotive industry,
expects to hire 37 employees at an average wage of $15.35 per hour.
SHELBY COUNTY
- The Shelby County
Industrial & Development Foundation, Inc. has purchased 133 acres
from Clear Creek Properties to be used for new industrial clients.
The property is located on KY55, approximately two miles from I-64
and 22 miles from I-71, and is served by water, sewer, electricity
and gas.
SPARTA
- The Kentucky
Speedway has signed a five-year contract to sell tickets via Tickets.com,
a national network that specializes in the sale of tickets for sporting
and entertainment events.
STATE
- Colleges in the
Kentucky Community and Technical College System as well as technical
schools and high schools throughout the state are participating in
the Cisco Networking Academy Program, which combines a Web-based curriculum
with instructor-led learning and hands-on labs to provide Kentucky
students with the Internet skills necessary in a global economy. The
program enables students to design, build and maintain networks for
local schools and other civic organizations as part of their learning
activities.
- The Web site
for Kentucky’s state government has been changed to http://kentucky.gov
in an effort to make the site’s address easier to remember. The
site, which was previously located at kydirecx.net, offers more than
150 online services available.
INDIANA
ANDERSON
- Delco Remy International
is closing its Anderson manufacturing facility, where it produces
alternators and starters for the automotive industry. The company
is shifting production of those products to plants in Hungary, Mexico
and South Korea, where wages are as low as $5 an hour compared to
$44.68 per hour at the Anderson plant. The shutdown will result in
the loss of approximately 400 jobs. Delco Remy will maintain its global
engineering and administrative headquarters in Anderson.
CORYDON
- Tower Automotive
Inc., which produces frames for Ford Motor Co.’s popular Explorer
line, has withdrawn its plans to supply frames for the automaker’s
next generation of the vehicle, expected to debut in 2005. Tower had
been involved in the early design and bid process but has since decided
that the expected returns did not meet their requirements. Tower produces
parts for numerous other automobile manufacturers, but its production
of Explorer frames makes up more than a third of its business.
OHIO
CINCINNATI
- EasyJet, a low-fare
European carrier, has placed an engine order valued at $1.2 billion
engine with CFM International, a joint venture between General Electric
Aircraft Engines and Snecma Moteurs of France. The order is the single
largest commercial aircraft engine order GE has received in five years.
- Cincinnati-based
Kroger is using three stores in Texas to explore the feasibility of
a new payment method: finger imaging. To utilize the voluntary system,
shoppers place their index finger on a scanning machine that uses
their fingerprint to access their customer account.
- Closson’s,
Cincinnati’s oldest retailer, has closed its store in the city’s
central business district after operating there for 137 years. Officials
with the company, which specializes in unique gifts, furniture, home
goods, fine art, Oriental rugs in addition to operating an art gallery,
said the closing was due to the district’s sluggish retail environment.
The company is currently scouting potential sites on Cincinnati’s
East Side for a new flagship location.
- Cincinnati-based
Procter & Gamble and LensCrafters have once again been listed
among Fortune magazine’s listing of the nation’s “100
Best Companies to Work For.” St. Louis-based stock brokerage
firm Edward Jones topped the listing for the second year in a row.
TENNESSEE
MEMPHIS
- Medtronic Sofamore
Danek, USA, Inc., one of the world’s largest manufacturers of
spinal implants, has announced plans to invest $42 million for the
construction of a new 101,000-s.f. office building and the complete
renovation of its existing headquarter facilities at Pyramid Place.
The company anticipates adding 600 workers to its present 700-member
staff over the next five years.
- Sharp Manufacturing
Co. of America has announced plans to build a new $46.7 million solar
manufacturing facility, adding 145 jobs in Memphis. The company currently
employs 575 people at its existing Memphis facility.
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