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Labor Market Area
Most of the demographic and workforce data that follow include totals for the community's labor market area. The map below is provided for you reference.
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Labor market counties are composed of counties which exist within a 60-minute drive range of the originating county’s county seat. A county will be included within the radius if the centroid point of a county (a point representing the center of the geographic area of a county) falls within the drive zone. Additionally, all contiguous counties will be classified as part of the labor market with the exception of non-Kentucky contiguous counties which have been excluded by the above mentioned 60-minute drive range and have a border with the Mississippi and/or Ohio Rivers.

 


Dated Material

This document contains material that is continuously updated on the Kentucky Cabinet for Economic Development's website.
For the most current information for this community please visit:


Contacts

Local

David Stipes
Executive Director
Richmond Industrial Development Corporation
239 West Main Street
PO Box 250
Richmond, KY 40476-0250
Phone: 859-623-1000
FAX: 859-623-7618
WEB: www.richmond-industrial.org
E-mail: dstipes@richmond.ky.us

State

John Bevington
Deputy Commissioner
Kentucky Cabinet for Economic Development
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601 USA

Phone: 502-564-7140 ext. 21942
Fax: 502-564-3256
Web: http:///www.thinkkentucky.com
Email: John.Bevington@ky.gov

 


 

Quick Facts

 
[Hlink_eussm]
  Industrial Electric Cost Per KWH, 2015
Kentucky $0.0548
U.S. $0.0691

 

Statistical Summary
  Population 2016
Madison County 89,547
Labor Market Area 746,136
   
 
Per Capita Personal Income 2015 $33,800
Median Household Income 2015 $42,390
Median Home Price 2015 $145,750
   
  Unemployment Rate 2016
Madison County 4.1%
Labor Market Area 4.1%
U.S. 4.9%
   
  Average Weekly Wage 2015
Madison County $713
Labor Market Area $832
U.S. $1,018


 

 

Location

 

 

Selected Market Centers

Percent of U.S. Within 600 Miles of Richmond


Population
50%

Personal Income
52%

Retail Sales
49%

Manufacturing Employment
56%

Highway Distance to Selected Market Centers
    City Miles   City Miles   City Miles  
  1. Atlanta, GA 356 11. Dallas, TX 884 21. Nashville, TN 227  
  2. Baltimore, MD 539 12. Detroit, MI 370 22. New Orleans, LA 741  
  3. Birmingham, AL 400 13. Houston, TX 1,068 23. New York, NY 712  
  4. Boston, MA 921 14. Indianapolis, IN 214 24. Norfolk, VA 577  
  5. Buffalo, NY 542 15. Jacksonville, FL 694 25. Oklahoma City, OK 857  
  6. Charlotte, NC 374 16. Kansas City, MO 605 26. Omaha, NE 796  
  7. Chicago, IL 394 17. Lexington, KY 24 27. Philadelphia, PA 635  
  8. Cincinnati, OH 109 18. Louisville, KY 101 28. Pittsburgh, PA 395  
  9. Cleveland, OH 355 19. Memphis, TN 430 29. St. Louis, MO 363  
  10. Columbus, OH 215 20. Minneapolis, MN 802 30. Wichita, KS 802  
  Population Source: U.S. Census Bureau, Population Division, 2008 population estimate
Personal Income Source: 2007 Regional Economic Accounts, Bureau of Economic Analysis (BEA), US Dept of Commerce
Retail Sales Source: 2002 Economic Census, US Census Bureau
Manufacturing Employment Source: 2007 County Business Patterns, US Census Bureau
Highway Distance Source: ESRI Arcview StreetMap, 2007
 

 


 

 

Sites

 
Available Industrial Sites
Click on a site point for details
      Min. Distance To  
    Site ID Site Name Total Ac. Largest Possible Tract Rail Interstate/Parkway Airport  
  Shovel-ready 151-005 Richmond -- Begley Site 151-005 1417 1417 Possible 0.5 37  
  Shovel-ready 151-001 Richmond Industrial Park South III 187 187 No 2.5 36  

 


 

 

Buildings

 
Available Industrial Buildings
Click on a building point for details
  Bldg. ID Building Name Square Feet Ac. Min. Ceiling Ht. Rail  
  151-044 2269 Enterprise Drive 14,000 N/A 20.0' minimum No  
Note: A "+" symbol following the building name denotes a secondary building.
Special Purpose Buildings

 


 

 

Demographics

 

 

  Total Population  
    2012 2013 2014 2015 2016  
  Labor Market Area 718,480 724,250 730,456 738,503 746,136  
  Madison County 85,517 86,062 87,218 88,276 89,547  
 Richmond32,75732,89733,51534,06934,652 
  Source: U.S.  Department of Commerce, Bureau of the Census, Annual Estimates.  

  Population by Selected Age Groups, 2016  
    Madison County Labor Market Area  
Number Percent Number Percent  
  Under 16 16,677 18.6 146,702 19.7  
  16-24 17,920 20.0 108,406 14.5  
  25-44 21,829 24.4 197,832 26.5  
  45-64 21,228 23.7 190,055 25.5  
  65-84 10,570 11.8 91,520 12.3  
  85 and older 1,323 1.5 11,621 1.6  
  Median Age 34.3   36.9    
  Source: U.S. Department of Commerce, Bureau of the Census.  

  Population by Race and Hispanic Origin, 2016  
    Madison County Labor Market Area  
Number Percent Number Percent  
  White 82,184 91.8 648,668 86.9  
  Black or African American 4,179 4.7 63,595 8.5  
  Am. Indian & Alaska Native 301 0.3 2,524 0.3  
  Asian 1,045 1.2 16,112 2.2  
  Native Hawaiian & other Pacific Islander 51 0.1 393 0.1  
  Other/Multirace 1,787 2.0 14,844 2.0  
  Hispanic Origin 2,075 2.3 34,574 4.6  
  Note: Hispanic is not a race category. A person can be white, black or African American, etc. and be of hispanic origin.
Source: U.S.  Department of Commerce, Bureau of the Census.
 

  Population Projections  
    2020 2025 2030 2035  
  Madison County 91,774 95,773 99,688 103,064  
  Source:  Kentucky State Data Center, University of Louisville.  

  Per Capita Personal Income 2015  
    2010 2015 Pct. Change  
  Madison County $29,034 $33,800 16.4 %  
  Kentucky $33,031 $38,588 16.8 %  
  U.S. $40,277 $48,112 19.5 %  
  Labor Market Area Range $21,834- $38,988 $25,214- $45,238    
  Source: U.S. Department of Commerce, Bureau of Economic Analysis.  

  Households  
    2015 2015  
  Number of Households Persons Per Household Median Household Income  
  Madison County 32,064 2.49 $42,390  
  Source: U.S. Department of Commerce, Bureau of the Census.  

 


 

 

Workforce

 

 

 

  Civilian Labor Force  
    Madison County Labor Market Area  
  2016 Aug. 2017 2016 Aug. 2017  
  Civilian Labor Force 44,105 42,443 364,868 373,248  
  Employed 42,297 40,355 349,928 356,388  
  Unemployed 1,808 2,088 14,940 16,860  
  Unemployment Rate (%) 4.1 4.9 4.1 4.5  
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
  Unemployment Rate (%)  
  Year Madison County Labor Market Area Kentucky U.S.  
  2012 6.7 7.1 8.2 8.1  
  2013 6.8 7.1 8.3 7.4  
  2014 5.4 5.5 6.5 6.2  
  2015 4.4 4.5 5.4 5.3  
  2016 4.1 4.1 5.0 4.9  
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
  Commuting Patterns  
  Residents of Madison County 2014 Percent  
  Working and Residing In County 14,658 46.3  
  Commuting Out of County 17,026 53.7  
  Total Residents 31,684 100.0  
  Employees in  
  Working and Residing In County 14,658 46.8  
  Commuting Into County 16,669 53.2  
  Total Employees 31,327 100.0  
  Source: U.S. Department of Commerce, Bureau of the Census, Journey-To-Work & Migration Statistics Branch.  
  Note: Data for Kentucky and its border states only.  

 

     
  Average Weekly Wage, 2015  
    Madison County Kentucky
(Statewide)
U.S.  
 Total All Industries$713$834$1,018 
 Total Private Industries6818311,017 
 Natural Resources and MiningN/A1,0751,124 
 Construction9199931,096 
 Manufacturing1,0391,0911,237 
 Trade, Transportation and Utilities507758852 
 Information6299441,829 
 Financial Activities7361,1691,691 
 Professional and Business Services6768781,332 
 Education and Health Services797878911 
 Leisure and Hospitality255312419 
 Other Services and Unclassified475591691 
  Source: U.S. Department of Labor, Bureau of the Labor Statistics.  

 


 

 

Education & Training

 

 

  Four-Year Colleges and Universities Within 60 Miles of Richmond  
  Institutions engaged in furnishing academic courses and granting degrees at baccalaureate or graduate levels.  
  Miles Institution Location Enrollment
(Fall 2015)
 
  Eastern Kentucky University  Richmond  16,844  
  11  Berea College  Berea  1,643  
  22  Asbury Theological Seminary  Wilmore  1,540  
  22  Asbury University  Wilmore  † 1,915  
  23  Indiana Wesleyan University - Lexington Education Center  Lexington  N/A  
  23  Lexington Theological Seminary  Lexington  81  
  23  Sullivan University, Lexington Campus  Lexington  N/A  
  23  Transylvania University  Lexington  1,053  
  23  University of Kentucky  Lexington  29,727  
  27  Centre College  Danville  1,367  
  27  Eastern Kentucky University, Danville Campus  Danville  N/A  
  29  Morehead State University at Mt. Sterling  Mt. Sterling  N/A  
  35  Georgetown College  Georgetown  1,364  
  35  Midway University  Midway  1,055  
  44  Kentucky State University  Frankfort  1,586  
  50  Eastern Kentucky University, Manchester Campus  Manchester  N/A  
  56  Eastern Kentucky University, Corbin Campus  Corbin  N/A  
  56  Morehead State University  Morehead  10,872  
  57  Morehead State University at West Liberty  West Liberty  N/A  
      Total Enrollments 69,047  
  Note: Miles are calculated as straight-line distance, not highway miles.
† Denotes enrollment for entire institution, including branch campuses; otherwise, enrollment is for specified campus.
Source:  Kentucky Cabinet for Economic Development.
 

  Two-Year Colleges Within 60 Miles of Richmond  
  Institutions engaged in furnishing academic, or academic and technical, courses and granting associate degrees, certificates, or diplomas below the baccalaureate level.  
  Miles Institution Location Enrollment
(Fall 2015)
 
  American National University - Richmond KY Campus  Richmond  N/A  
  18  Bluegrass Community & Technical College, Winchester - Clark Co. Campus  Winchester  N/A  
  23  American National University- Lexington KY Campus  Lexington  780  
  23  Bluegrass Community & Technical College, Cooper Campus  Lexington  10,388  
  23  Bluegrass Community & Technical College, Leestown Campus  Lexington  N/A  
  23  Bluegrass Community & Technical College, Newtown Pike Campus  Lexington  N/A  
  23  Spencerian College, Lexington Campus  Lexington  74  
  27  American National University - Danville KY Campus  Danville  N/A  
  27  Bluegrass Community & Technical College, Danville Campus  Danville  N/A  
  35  Bluegrass Community & Technical College, Advanced Manufacturing Center  Georgetown  N/A  
  39  Bluegrass Community & Technical College, Lawrenceburg Campus  Lawrenceburg  N/A  
  44  Maysville Community & Tech College, Licking Valley Campus  Cynthiana  N/A  
  44  Somerset Community College, Laurel North Campus  London  N/A  
  46  Somerset Community College, Casey Center  Liberty  N/A  
  49  Somerset Community College, Somerset North Campus  Somerset  † 6,386  
  51  Elizabethtown Community & Tech. College, Springfield Campus  Springfield  N/A  
  52  Hazard Community & Technical College, Lees College Campus  Jackson  N/A  
  56  Maysville Community & Technical College, Rowan Campus  Morehead  N/A  
      Total Enrollments 17,628  
  Note: Miles are calculated as straight-line distance, not highway miles.
† Denotes enrollment for entire institution, including branch campuses; otherwise, enrollment is for specified campus.
Source:  Kentucky Cabinet for Economic Development.
 

  Kentucky Technical Schools Within 60 Miles of Richmond  
    Enrollment (2015-2016)  
  Miles Institution Location Sec P/S Total  
  Madison County ATC  Richmond  801 N/A 801  
  18  Garrard County ATC  Lancaster  377 N/A 377  
  18  Jessamine Career and Technology Center  Nicholasville  3206 N/A 3206  
  18  Clark County ATC  Winchester  704 N/A 704  
  23  Eastside Technical Center  Lexington  906 N/A 906  
  23  Southside Technical Center  Lexington  471 N/A 471  
  25  Lincoln County ATC  Stanford  278 N/A 278  
  26  Rockcastle County ATC  Mount Vernon  427 N/A 427  
  27  Jackson County ATC  McKee  463 N/A 463  
  29  Montgomery County ATC  Mt. Sterling  557 N/A 557  
  30  Hughes Jones Harrodsburg ATC  Harrodsburg  266 N/A 266  
  34  Lee County ATC  Beattyville  357 N/A 357  
  35  Elkhorn Crossing School  Georgetown  860 N/A 860  
  44  Harrison County ATC  Cynthiana  681 N/A 681  
  44  Franklin County Career and Technical Center  Frankfort  837 N/A 837  
  46  Casey County ATC  Liberty  501 N/A 501  
  49  Pulaski ATC  Somerset  513 N/A 513  
  50  Clay County ATC  Manchester  337 N/A 337  
  52  Breathitt County ATC  Jackson  431 N/A 431  
  54  Marion County ATC  Lebanon  604 N/A 604  
  56  Corbin ATC  Corbin  452 N/A 452  
  57  Morgan County ATC  West Liberty  669 N/A 669  
      Total Enrollments 14,698     14,698   
  Note: Miles are calculated as straight-line distance; not highway miles.  Kentucky Tech secondary schools, called Area Technology Centers (ATC), are operated by the Department of Education, Office of Career and Technical Education. Other secondary schools are operated locally by public school districts. Secondary student enrollment is listed under Sec, and post-secondary student enrollment is listed under P/S.
Source:  KY Cabinet for Workforce Development; KY Dept. of Education.
 

 


 

 

Business & Industry

 

 

  Summary of Recent Locations and Expansions, 2014-Present  
    Reported  
    Companies Jobs Investment  
 Manufacturing Location 3197-205 $9,702,910 
 Manufacturing Expansion 9180 $87,430,000 
 Supportive/Service Location 00 $0 
 Supportive/Service Expansion 00 $0 
  Click here for detailed location and expansion information.
Note: Totals include announced locations and expansions.
Source: Kentucky Cabinet for Economic Development (December 10, 2017).
 
  Employment by Major Industry by Place of Work, 2015  
    Madison County Labor Market Area  
  Employment Percent Employment Percent  
 Total All Industries34,242100.0341,782100.0 
 Total Private Industries26,85478.4281,34582.3 
 Natural Resources and MiningN/AN/A3,5741.0 
 Construction1,3253.913,8244.0 
 Manufacturing5,42815.944,84513.1 
 Trade, Transportation and Utilities4,96414.560,16217.6 
 Information3631.16,5281.9 
 Financial Activities8472.511,5563.4 
 Professional and Business Services4,89014.346,43613.6 
 Education and Health Services4,17612.238,81211.4 
 Leisure and Hospitality4,11812.037,94011.1 
 Other Services and Unclassified6511.97,6602.2 
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
     
  Top 20 by Employment  
  Firm Product(s)/Service(s) Emp. Year
Established
 
 Richmond 
 AGC Glass Co NAAutomotive glass1681997 
 Asahi Bluegrass Forge CorporationAutomotive press forging, gears, bearings, joints512012 
 Asahi Forge of America CorporationHot forge manufacturing for the automotive industry722003 
 B & H Tool Works IncA full service tooling, machining, stamping, and fabrication job shop. Capabilities include CNC, EDM, and laser machining. Progressive and hand transfer stamping capabilities1001978 
 Blue Grass Chemical Agent Destruction Pilot PlantBechtel Parsons Blue Grass, a joint venture, is a systems contracted selected by DOD's PEO Assembled Chemical Weapons Alternative program to design, build, systemize, test, operate, and close a facility to destroy chemical weapons stockpiles.2202003 
 EnerSysLead acid industrial batteries5201976 
 Gill IndustriesAutomotive stamping2182004 
 Kokoku Rubber IncCompression and injection molding of rubber components incl. syringe stoppers, auto. seals, gaskets, o-rings and belts for bus. m/c's.1071988 
 Lectrodryer LLCDesigns and manufactures desiccant dryers and purification systems for the removal of humidity and other impurities from air, gases and liquids561932 
 Petro Towery IncPetroleum equipment parts, sales, service, and installation441992 
 Precision Tube IncTube fabricating, wire forming, forklift components and CNC machining631979 
 Qualex MachiningMetal turning, threading, grooving, milling, drilling, tapping and welding1251994 
 Quanex Building ProductsVinyl extrusions2331995 
 Richmond Auto Parts Technology IncAutomotive transmission gears; chassis components and automatic transmission components1431998 
 Sherwin-Williams CompanyAutomotive coatings & finishes, Thompson's Waterseal woodcare products, military & industrial coatings3601976 
 Sherwin-Williams CompanyDistribution of coatings related products and material for the Sherwin Williams Company.651995 
 TEBCO of Kentucky IncManufacture truck bodies and related equipment and distribution401991 
 The Okonite CompanyInsulated electrical cable2601969 
 Uncle Charlie's Meats IncMeat processing, packaging and distribution401957 
 XeroxProvide business processing solutions.1502001 
  Source: Kentucky Cabinet for Economic Development (December 10, 2017).  

 


 

 

Taxes

 

 

  State Property Tax Rates Per $100 Valuation, 2016  
  Selected Class of Property State Rate Local Taxation
Permitted
 
  Real Estate $0.1220 Yes  
  Manufacturing Machinery $0.1500 No  
  Pollution Control Equipment $0.1500 No  
  Inventories:  
      Raw Materials $0.0500 No  
      Goods in Process $0.0500 No  
      Finished Goods $0.0500 Yes  
      Goods-In-Transit Exempt Limited  
  Motor Vehicles $0.4500 Yes  
  Other Tangible Personal Property $0.4500 Yes  
  Source: Kentucky Department of Revenue.  
     
  Local Property Tax Rates Per $100 Valuation, 2016  
  Taxing Jurisdiction Property Taxes
Per $100 Valuation
   
  Real Estate Tangibles Motor Vehicles  
  County  
  Madison $0.2573 $0.3290 $0.2580    
  City  
  Richmond $0.1440 $0.1580 $0.2870    
  School District  
  Berea Independent Schools $0.8910 $0.8910 $0.5910    
  Madison County Schools $0.6180 $0.6180 $0.5580    
  Source: Kentucky Revenue Cabinet.  
     
  Local Occupational License Taxes, 2016  
  Cities, counties and school districts may levy an occupational license tax on the net profits of businesses and/or on the salaries and wages of employees earned in the jurisdiction. Rates can vary between the two types of occupational license taxes. Occupational license taxes may be levied on businesses as either a flat rate schedule or as a percentage of apportioned net profits or gross receipts. Where both the city and county levy an occupational license tax, a credit may be given, at the option of the local governments, for the amount paid to the city against the occupational license tax of the county. (Consult local jurisdictions for further details.)  
  Taxing Jurisdiction   Tax Rate on
Salaries/Wages
  Tax Rate on
Net Profits/Receipts
 
  County  
  Madison   1.00%   1.00% (on net profits)  
  City  
  Richmond   2.00%   2.00% (on net profits)  
  School District  
  Berea Independent Schools   No tax   No tax  
  Madison County Schools   No tax   No tax  
  Source: Occupational Taxes Spreadsheet - Kentucky Secretary of State, Local Tax Listing - Kentucky Personnel Cabinet   
     

 


 

 

Regulations & Permits

 
 

Kentucky Public Protection Cabinet
Department of Housing, Buildings and Construction

Permitting Information: http://www.dhbc.ky.gov/
 
  Typical Building Permits Responsible Division # of plans Time Frame (Days)  
  Site Plan Building Code Enforcement 1 7-30  
  Building/Life Safety Building Code Enforcement 1 7-30  
  Plumbing Plumbing 3 7  
  Fire Protection Fire Prevention 1 7-30  
  Fire Alarm and Monitoring Fire Prevention 1 7-30  
  Fuel Tanks Fire Prevention
Hazardous Materials Section
1 7  
     

 

Kentucky Department for Environmental Protection
Permits, Fees, Regulatory Times, and Contacts

Permitting Program Information:
http://dca.ky.gov/DCA%20Resource%20Document%20Library/KyDEPCommonPermits2.17.14.pdf
 
     

 

 

Utilities

 

 

 
Utilities Providing Service In Madison County
  Electric  
 East Kentucky Power Cooperative - 859-744-4812 
    Blue Grass Energy Cooperative Corp - 859-885-4191 
    Clark Energy Cooperative - 859-744-4251 
    Inter-County Energy Cooperative - 859-236-4561 
    Jackson Energy Cooperative - 606-287-7161 
 Kentucky Utilities (a PPL company) - 800-383-5582 
    Berea Municipal Utilities - 859-986-4391 
     
  Natural Gas  
 Columbia Gas of Kentucky Inc - 859-288-0227 
 Delta Natural Gas Company - 859-744-6171 
 Richmond Utilities - 859-623-2323 
     
  Sewer  
  Treatment Information (gallons per day) Capacity Avg. Flow Excess  
 Berea Municipal Utilities - 859-986-4391 
 J.C. Chambers Wastewater Treatment Plant4,300,0003,296,0001,004,000 
 Richmond Utilities - 859-623-2323 
 Richmond Otter Creek STP8,000,0004,952,0003,048,000 
 Richmond Utilities - Silver Creek STP1,000,000337,000663,000 
  Treatment information provided by Division of Water, 502-564-3410
 
  Water  
  System Information (gallons per day) Capacity Avg. Use Excess  
 Berea Municipal Utilities - 859-986-43916,000,0002,945,8693,054,131 
 Garrard County Water Association Inc - 859-792-4501N/AN/AN/A 
 Madison County Utilities/Kingston-Terrill - 859-624-1735N/AN/AN/A 
 Richmond Utilities - 859-623-232312,000,0007,090,2604,909,740 
  System information provided by Division of Water, 502-564-3410  

 


 

 

Quality of Life

 

 

  General Kentucky Quality of Life Information  
  http://www.thinkkentucky.com/kyedc/qualityoflife.aspx  
  Median Home Price (2015): Madison County - $145,750 for 530 homes  
  Source: KY Department of Revenue. Data based on sales for last six months of year indicated.  
  Climate  
  Temperature    
  Normal (30-year record) 55.5 degrees  
  Average Annual, 2015 56.2 degrees  
  Record Highest, July 2012 (71-year record) 105 degrees  
  Record Lowest, January 1963 (71-year record) -21 degrees  
  Normal Heating Degree Days (30-year record) 4,611  
  Normal Cooling Degree Days (30-year record) 1,190  
  Precipitation    
  Normal (30-year record) 45.17 inches  
  Mean Annual Snowfall (30-year record) 13 inches  
  Total Precipitation, 2015 59.89 inches  
  Mean Number of Days Precipitation (0.01 inch or more) (30-year record) 129.8  
  Mean Number of Days Thunderstorms (68-year record) 39.8  
  Prevailing Winds South  
  Relative Humidity (30-year record)    
  1 a.m. 79 percent  
  7 a.m. 83 percent  
  1 p.m. 61 percent  
  7 p.m. 66 percent  
  Note: Heating degree day totals are the sums of positive departures of average daily temperature from 65 degrees F.  Cooling degree day totals are the sum of negative departures of average daily temperature from 65 degrees F.
Source: U.S. Department of Commerce, National Climatic Data Center, Local Climatological Data, 2015.
Station of record: Blue Grass Airport, Lexington, KY.
 
     
  Public School District Enrollments, 2015-2016  
    Total Enrollment Pupil To Teacher Ratio  
  Berea Independent Schools 1,107 14.2  
  Madison County Schools 11,412 16.9  
  Source: Kentucky Department of Education, Office of Assessment and Accountability.