Local flavor builds commerce along Louisville’s Frankfort Avenue
Kentucky ranks 36th nationally in venture capital fund investment, averaging $32 million in recent years
Into the Big Leagues
Union of Chilton & Medley with Mountjoy & Bressler creates a statewide network of 100-plus accountants
IP Practices Growing
Economic shift from manufacturing to research and design puts a premium on patent law
Legal Practices See Modest Improvement Continuing / CPAs Expect High Demand for Accounting Services
Steve St. Angelo, head of Toyota Motor Manufacturing Kentucky, talks about weathering a recession while planning for the future
Fast Lane
Highland Heights: General Cable Corp. Expands South African Investments
General Cable Corp. has acquired a majority portion of the wire and cable assets of Phoenix Power Cables, of Durban, South Africa. The business, which will operate as General Cable Phoenix South Africa (GCPSA), manufactures low- and medium-voltage electrical power cables as well as overhead energy transmission and distribution cables. In the last 12 months, the business reported revenues of approximately $20 million.
General Cable also owns a majority interest in National Cables, the largest cable distributor in South Africa. With the acquisition of GCPSA, the company will have the capability to supply electric utilities in the region with locally produced energy transmission and distribution cables. Consumption of wire and cable in South Africa represents approximately 25 percent of the wire and cable consumed on the entire African continent.
“Investment in power generation, transmission and distribution as well as residential and non-residential construction has grown meaningfully in sub-Saharan Africa over the last several years,” said Mathias Sandoval, executive vice president, president and CEO of General Cable Rest of World. “Robust mining investment as well as infrastructure to support the growing population and increasing wealth in the region is expected to result in greater demand for electrical power cable products to support infrastructure growth well into the future.”
State: Three Kentucky Dana Plants in Spin-off to Metalsa, S.A. DE C.V.
Dana Holding Corp. has signed an agreement to sell its global structural products business to Metalsa, S.A. de C.V., Mexico’s largest vehicle frame and structures supplier, for $150 million.
The acquisition involves 10 facilities in the United States, Argentina, Australia, Venezuela and Brazil and includes three Dana plants in Kentucky: Owensboro (155 employees), Elizabethtown (550 employees) and Hopkinsville (385 employees).
Metalsa currently has 3,600 employees working in India, Japan, Mexico and the United States. The Dana acquisition will add another 2,800 employees.
Jim Steetnam, president of Ohio-based Dana, said the sale of its structural products business will enable Dana to focus on its axle, driveshaft, sealing and thermal products businesses.
Gustavo Andres, vice president and chief commercial officer for Metalsa, told The (Elizabethtown) News-Enterprise that the company does not plan to close or consolidate any of the newly acquired plants and is not planning to make any changes to the existing workforce.
State: Kentucky’s Bourbon Industry Pours Millions into State Economy
Kentucky’s signature Bourbon and distilled spirits industry contributes hundreds of millions into the Bluegrass economy, according to a new study released by the Kentucky Distillers Association.
The study – conducted by Dr. Paul Coomes, an economist at the University of Louisville – found that distillers help create about 10,000 jobs with an annual payroll of $442 million, generate $125 million a year in taxes and have helped Kentucky weather the recession through growth.
“Moreover,” said Coomes, “the market for Bourbon is growing and Kentucky distillers have been adding jobs this decade even as manufacturing employment overall is down.”
That growth has helped mitigate the economic and fiscal impact of the global recession on Kentucky, Coomes said, noting that distilling employment increased by 6 percent this decade while the manufacturing industry shed nearly 20 percent of its jobs.
Lexington: UK Receives $14.8 Million to Expand Labs, Energy Research
The University of Kentucky Center for Applied Energy Research (CAER) has been awarded an $11.8 million grant from the National Institute of Standards and Technology (NIST) to expand laboratory facilities and intensify energy research efforts, including research into advanced battery technology for plug-in hybrid vehicles at the Kentucky-Argonne National Battery Manufacturing Research and Development Center.
The grant provides funding to significantly expand the center’s research capabilities with a new 36,000-s.f. building dedicated to research in the biomass and biofuels industries, advanced distributed power generation and storage and technologies for electric vehicles. The facility will be constructed at the Spindletop research site in Lexington.
The project cost totals $15.8 million, including a $3 million investment from the Commonwealth of Kentucky. The new facility will include labs for process development, prototype manufacturing and testing to support applied research on batteries, capacitors, solar energy materials and biofuels. A portion of the new facility will be equipped specifically for capacitor and battery manufacturing research. The Kentucky Biofuels Laboratory, an analytical laboratory managed as an open access user facility, will also be located within the new expansion.
The project is expected to be completed by fall 2011.
Elizabethtown: Akebono Brake Corp. Expands HQ, Hires 70 Professionals
Akebono Brake Corp. is expanding its Elizabethtown headquarters facility to accommodate the addition of 70 new professional jobs.
The expansion comes as a result of the company’s recent acquisition of Robert Bosch LLC’s North American Foundation Brake Division, effectively doubling the size of the company. Akebono is investing $800,000 to add over 12,000-s.f. of office space to its Elizabethtown facility to house the new staff.
Akebono has historically operated all of its North American manufacturing facilities in Kentucky. Opening its first Kentucky facility in Elizabethtown in 1987, the company has since grown to become one of the largest manufacturing operations in Hardin County, employing 1,500 people in the area. The company relocated its North American headquarters to the commonwealth in 2006.
Louisville: Norton Healthcare Plans $27.7 Million Cancer Treatment Center
Norton Healthcare and Norton Cancer Institute officials have announced plans for a new $27.7 million radiation center in downtown Louisville. The new center, which is scheduled to open in July 2011, will feature one of the most advanced technologies available to treat adult and pediatric cancers and tumors. The 65,000-s.f., three-story facility will be connected to the pedway system serving the entire Norton Healthcare downtown campus, including patients and families at Norton Hospital, Kosair Children’s Hospital and the Norton Healthcare Pavilion.
Norton Healthcare is the Louisville area’s leading hospital and healthcare system (44 percent market share) and its third-largest private employer.
: Zipline Adventures Plans Canopy Tours for Red River Gorge
The Kentucky Tourism Development Finance Authority has approved a $250,000 loan to Kentucky Zipline Adventures to construct a zipline canopy tour in Clay City.
The company is planning to offer six lines ranging from a few feet to more than 1,500 feet in length. Participants wear a harness that is attached to the zipline and travel at tree-line level.
According to Elaine Wilson, executive director of Adventure Tourism with the Tourism, Arts and Heritage Cabinet, ziplining “will be an exciting way for adventure enthusiasts to discover and rediscover the [Red River] Gorge area while adding a new dimension of exploration into the natural beauty of Eastern Kentucky and the Daniel Boone National Forest.”
The ziplines will be constructed by Canopy Tours Inc., a New Hampshire firm that has 25 years of experience in the field. According to information released by the state, the installation will meet standards developed by national organizations to ensure the safety of the participants, including annual inspections, training for guides and using the proper safety equipment.
The Clay City operation is expected to open this year and will operate eight months out of the year.
Lawrenceburg: Wild Turkey Enlarges Warehouse to Meet Bourbon Demand
Rare Breed Distilling has announced plans to construct a new 20,000-s.f.
barrel storage warehouse at its Wild Turkey distillery in Lawrenceburg. The new project will add to Wild Turkey’s storage capacity for its maturing whiskey products and will entail a nearly $2.3 million investment in the commonwealth.
In 2007, Wild Turkey, a manufacturer of several Kentucky straight Bourbon whiskey products as well as other distilled spirits offerings, announced plans to build a new and larger distillery on its site in Anderson County to keep pace with projected increases in the global demand for the plant’s products. The new distillery is currently under construction and scheduled to begin operation in late 2010.
For the new warehouse project, Rare Breed Distilling LLC has been approved by the Kentucky Economic Development Finance Authority for tax incentives up to $40,000 under the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction and building costs.
London: Senture Hiring 1,500 Workers to Support Call Center Pperations for the 2010 U.S. Census
Senture, a London-based company that provides business-outsourcing services, is in the process of hiring approximately 1,500 people to support a contract related to the 2010 U.S. Census operation.
Senture is partnering on the project with Vangent, a global provider of information management business process services that is a subcontract partner with Lockheed Martin. Vangent is part of the Lockheed Martin-led Decennial Response Integration System program team responsible for the people, process, technology and infrastructure for the 2010 Census. Senture’s employees will work in commercial call center facilities in London and Monticello, Ky. Most employees will be hired as phone agents and support staff to perform telephone questionnaire assistance and coverage follow-up call center work for Vangent.
The 2010 Census is the 23rd Decennial Census and is required by the U.S. Constitution. The data are used to apportion the U.S. House of Representatives and to distribute $400 billion per year in federal funds to local, state and tribal governments for projects such as new roads, bridges, buildings, schools, electronic infrastructure and social services.
Paintsville: Midway College Announces Plans to Open School of Pharmacy in Eastern Kentucky
Midway College has announced that it will open a school of pharmacy in Paintsville, Ky. Midway College President Dr. William B. Drake Jr. said the pharmacy school will be temporarily located on the Mayo Campus of Big Sandy Regional and Technical Center in Paintsville until a permanent campus location has been established.
“Some will ask why Midway College? Why Paintsville? And why now? The answers to those questions are simple,” Drake said. “First, it fits our college’s mission and fits into the growth of our health curriculum. Second, this community is supportive of this type of project. They understand the value of education. And it is an incredibly attractive place to work, live and earn your professional degree. We say, why not Paintsville? And why now? Because there is a need for pharmacists all across the nation. Based on industry information there are approximately five applications for each opening at pharmacy schools in the U.S.”
The new school will offer a fully accredited doctor of pharmacy (Pharm.D) degree. The school will enroll up to 80 students per year (a maximum of 320 students once it is fully operational) and will begin accepting students in January 2011 for the school year beginning August 2011. The program’s tuition will run $31,000 per year.
The school will employ approximately 100 full- and part-time faculty and staff members. Dr. Lanny Foss has been hired as the founding dean of the Midway College School of Pharmacy.
The Midway School of Pharmacy will be the third such program in the state; the others are operated by the University of Kentucky and Sullivan University.
State: Kentucky Awarded $4.74M Grant to Educate Workers for Green Jobs
Kentucky has been awarded a $4.74 million grant by the U.S. Department of Labor that will be used to teach more than 600 Kentuckians the skills required in emerging green industries including energy efficiency and renewable energy.
“This grant will provide valuable education and job training for Kentuckians in emerging green industries during a time of high unemployment,” said Gov. Steve Beshear. “In addition, this investment in Kentucky’s workforce will help position our state for the new high-growth jobs of the 21st century and make us a leader in the development of future green jobs.”
Kentucky will use the grant to focus on jobs in energy-efficient building, construction and retrofit, energy efficiency assessment, and renewable energy. Participants in the Cumberland and West Kentucky Workforce Investment Areas who are dislocated workers, unemployed individuals, out-of-school youth and veterans will have the opportunity to earn degrees and industry-recognized certification in green job industries including energy assessment, Smart Grid technology, chemical engineering, plumbing and pipefitting.
“As Kentucky begins to implement long-term energy solutions, new skills and competencies are necessary to ensure a green workforce is available,” said Joseph U. Meyer, the state’s acting secretary of the Education and Workforce Development Cabinet. “Preparing a workforce that is ready to meet the demands of the growing energy efficiency and renewable energy fields will help Kentucky build a sound economic development foundation for future jobs in these industries.”
Central Kentucky: Kenamerican Reopens Idled Mine, Plans to Hire up to 300
Coal production has resumed at KenAmerican Resources’ Paradise Mine in Muhlenberg County after being idled since September to build an entirely new mine.
According to information released by KenAmerican, the new mine includes a new underground access slope, upgraded conveyor systems and upgraded power systems and mining machinery.
KenAmerican plans to return the Paradise Mine to full production as quickly as possible and gradually increase employment levels to operate up to four continuous miner sections in the new mine with all new or rebuilt equipment.
At full capacity, the mine will employ up to 300 workers and will have a production rate of up to 2.8 million tons per year.
Construction of new portal facilities on the surface for the Paradise Mine is ongoing and will be completed in early 2011. These installations include access roads, major intake and return air shafts, a large hoist for all manpower and equipment, bathhouse, offices and a warehouse.
“This work should restore the Paradise Mine to the No. 1 position in productivity in the Illinois Basin, a record KenAmerican demonstrated from its inception in the mid-1990s until about three years ago,” said General Manager Mark D. Nelson.
Louisville: Kindred Launches Major Healthcare Projects in Six States
Louisville-based Kindred Healthcare Inc. has announced extensive development plans for healthcare facilities in several of its key markets in Texas, Florida, California, Ohio, Indiana and Washington. The projects include:
A new freestanding 72-bed hospital in Houston that will replace the existing Kindred Hospital Bay Area; the present facility will be converted to a subacute facility. The company is also developing a 28-bed co-located hospital-based subacute unit at Kindred Hospital Houston, which is located in the Houston Medical Center.
• A 32-bed co-located hospital-based subacute unit in its existing Kindred Hospital Dallas.
• A 60-bed freestanding hospital in Melbourne, Fla.
• A 38-bed hospital-based subacute unit within its Kindred Hospital Brea in southern California.
• An agreement to acquire 108 skilled nursing beds from a regional healthcare provider in Cleveland, Ohio
• A new 120-bed transitional care center in Westfield, Ind.
• The conversion of a previously closed nursing and rehabilitation center in downtown Seattle into a 50-bed long-term acute-care hospital that will be renamed Kindred Hospital Seattle at First Hill.
Kindred has annual revenues of more than $4 billion and provides healthcare services in 41 states with approximately 54,800 employees.
Owensboro: State Designs New $14m National Guard Readiness Center
Gov. Steve Beshear has announced plans to build a new Kentucky Army National Guard Readiness Center in Owensboro. The new $14 million facility will be located on 20 acres of land adjacent to the Owensboro Airport. Construction is expected to begin this month and will take between 12-18 months to complete.
Primarily designed to provide the Kentucky Army National Guard a regional base of operations, the $14 million facility will consist of 57,644 s.f. of administrative offices, storage facilities, classrooms and drill hall. Twenty-five percent – or approximately $3.5 million – of the total cost is state-funded through the Department of Military Affairs.
“This new readiness center will give us ready access for aircraft during natural disasters such as earthquakes, floods and winter storms as well as homeland security missions,” said Adjutant General Edward W. Tonini. “It will also be used to conduct training for federal, state and local civilian authorities, and to provide a rapid-response facility for search and rescue missions in conjunction with the Civil Air Patrol and other emergency agencies.”
The City of Owensboro has announced plans to acquire the site of the former armory in an effort to financially assist the National Guard in the project. The land will be used as part of the city’s ongoing downtown development.
Approximately 17 full-time and 163 part-time personnel will be employed at the new readiness center. The facility will be home to two Kentucky Army National Guard units, Headquarters Support Company and Forward Support Company, both of which are with the 206 Engineer Battalion.










