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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

Wade White
Judge/Executive
Lake Barkley Partnership for Economic Development
Farmers Bank Building
111 W Washington St
PO Box 141
Princeton, KY 42445
Phone: 270-841-7975
WEB: www.lakebarkleypartnership.com
E-mail: lyoncountyjudge@gmail.com

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
Caldwell County 12,568
Labor Market Area 312,484
   
 
Per Capita Personal Income 2015 $33,734
Median Household Income 2015 $42,537
Median Home Price 2015 $67,000
   
  Unemployment Rate 2016
Caldwell County 5.3%
Labor Market Area 5.8%
U.S. 4.9%
   
  Average Weekly Wage 2015
Caldwell County $599
Labor Market Area $782
U.S. $1,018


 

 

Location

 

 

Selected Market Centers

Percent of U.S. Within 600 Miles of Princeton


Population
43%

Personal Income
55%

Retail Sales
40%

Manufacturing Employment
51%

Highway Distance to Selected Market Centers
    City Miles   City Miles   City Miles  
  1. Atlanta, GA 343 11. Dallas, TX 656 21. Nashville, TN 100  
  2. Baltimore, MD 745 12. Detroit, MI 534 22. New Orleans, LA 600  
  3. Birmingham, AL 290 13. Houston, TX 778 23. New York, NY 913  
  4. Boston, MA 1,123 14. Indianapolis, IN 257 24. Norfolk, VA 783  
  5. Buffalo, NY 706 15. Jacksonville, FL 691 25. Oklahoma City, OK 672  
  6. Charlotte, NC 504 16. Kansas City, MO 465 26. Omaha, NE 655  
  7. Chicago, IL 420 17. Lexington, KY 211 27. Philadelphia, PA 840  
  8. Cincinnati, OH 273 18. Louisville, KY 169 28. Pittsburgh, PA 559  
  9. Cleveland, OH 519 19. Memphis, TN 210 29. St. Louis, MO 223  
  10. Columbus, OH 379 20. Minneapolis, MN 796 30. Wichita, KS 662  
  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 033-001 Princeton Industrial Park 135.9 48.9 No 2 105  
  Shovel-ready 033-005 Princeton -- Site 033-005 17.5 17.5 Possible 0.88 108  

 


 

 

Buildings

 
Available Industrial Buildings
Click on a building point for details
  Bldg. ID Building Name Square Feet Ac. Min. Ceiling Ht. Rail  
  033-007 Build Ready Site 033-001 75,000 47.5 99.0' 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 318,616 316,209 315,051 313,943 312,484  
  Caldwell County 12,938 12,816 12,780 12,690 12,568  
 Princeton6,3066,2446,2246,1786,119 
  Source: U.S.  Department of Commerce, Bureau of the Census, Annual Estimates.  

  Population by Selected Age Groups, 2016  
    Caldwell County Labor Market Area  
Number Percent Number Percent  
  Under 16 2,466 19.6 64,070 20.5  
  16-24 1,275 10.1 36,991 11.8  
  25-44 2,858 22.7 75,908 24.3  
  45-64 3,465 27.6 80,299 25.7  
  65-84 2,213 17.6 48,718 15.6  
  85 and older 291 2.3 6,498 2.1  
  Median Age 43.1   39.5    
  Source: U.S. Department of Commerce, Bureau of the Census.  

  Population by Race and Hispanic Origin, 2016  
    Caldwell County Labor Market Area  
Number Percent Number Percent  
  White 11,573 92.1 271,158 86.8  
  Black or African American 726 5.8 30,420 9.7  
  Am. Indian & Alaska Native 41 0.3 1,246 0.4  
  Asian 38 0.3 2,690 0.9  
  Native Hawaiian & other Pacific Islander 4 0.0 440 0.1  
  Other/Multirace 186 1.5 6,530 2.1  
  Hispanic Origin 210 1.7 10,472 3.4  
  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  
  Caldwell County 12,633 12,541 12,426 12,286  
  Source:  Kentucky State Data Center, University of Louisville.  

  Per Capita Personal Income 2015  
    2010 2015 Pct. Change  
  Caldwell County $28,595 $33,734 18.0 %  
  Kentucky $33,031 $38,588 16.8 %  
  U.S. $40,277 $48,112 19.5 %  
  Labor Market Area Range $25,410- $37,523 $29,914- $44,428    
  Source: U.S. Department of Commerce, Bureau of Economic Analysis.  

  Households  
    2015 2015  
  Number of Households Persons Per Household Median Household Income  
  Caldwell County 5,293 2.39 $42,537  
  Source: U.S. Department of Commerce, Bureau of the Census.  

 


 

 

Workforce

 

 

 

  Civilian Labor Force  
    Caldwell County Labor Market Area  
  2016 Aug. 2017 2016 Aug. 2017  
  Civilian Labor Force 5,397 5,308 127,735 130,254  
  Employed 5,112 5,024 120,289 122,293  
  Unemployed 285 284 7,446 7,961  
  Unemployment Rate (%) 5.3 5.4 5.8 6.1  
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
  Unemployment Rate (%)  
  Year Caldwell County Labor Market Area Kentucky U.S.  
  2012 7.1 8.4 8.2 8.1  
  2013 7.0 8.8 8.3 7.4  
  2014 6.5 7.0 6.5 6.2  
  2015 5.6 6.0 5.4 5.3  
  2016 5.3 5.8 5.0 4.9  
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
  Commuting Patterns  
  Residents of Caldwell County 2014 Percent  
  Working and Residing In County 1,994 39.1  
  Commuting Out of County 3,105 60.9  
  Total Residents 5,099 100.0  
  Employees in  
  Working and Residing In County 1,994 48.3  
  Commuting Into County 2,134 51.7  
  Total Employees 4,128 100.0  
  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  
    Caldwell County Kentucky
(Statewide)
U.S.  
 Total All Industries$599$834$1,018 
 Total Private Industries5978311,017 
 Natural Resources and MiningN/A1,0751,124 
 Construction5999931,096 
 Manufacturing8561,0911,237 
 Trade, Transportation and Utilities522758852 
 Information6889441,829 
 Financial Activities7831,1691,691 
 Professional and Business Services4788781,332 
 Education and Health ServicesN/A878911 
 Leisure and HospitalityN/A312419 
 Other Services and Unclassified479591691 
  Source: U.S. Department of Labor, Bureau of the Labor Statistics.  

 


 

 

Education & Training

 

 

  Four-Year Colleges and Universities Within 60 Miles of Princeton  
  Institutions engaged in furnishing academic courses and granting degrees at baccalaureate or graduate levels.  
  Miles Institution Location Enrollment
(Fall 2015)
 
  26  Murray State University, Madisonville Regional Campus  Madisonville  N/A  
  28  Murray State University, Hopkinsville Regional Campus  Hopkinsville  N/A  
  42  Murray State University  Murray  10,998  
  42  Murray State University, Paducah Regional Campus  Paducah  N/A  
  48  Austin Peay State University  Clarksville, TN  10,099  
  53  Murray State University, Henderson Regional Campus  Henderson  N/A  
      Total Enrollments 21,097  
  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 Princeton  
  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)
 
  26  Madisonville Community College, Health Campus  Madisonville  N/A  
  26  Madisonville Community College, Main Campus  Madisonville  † 4,261  
  28  Brown Mackie College - Hopkinsville  Hopkinsville  114  
  28  Hopkinsville Community College, Main Campus  Hopkinsville  † 3,120  
  42  West Kentucky Community & Technical College, Main Campus  Paducah  † 5,908  
  44  Madisonville Community College, Muhlenberg Campus  Central City  N/A  
  48  Daymar Institute, Clarksville Campus  Clarksville, TN  533  
  48  Miller-Motte Technical College, Clarksville Campus  Clarksville, TN  334  
  48  North Central Institute  Clarksville, TN  99  
  53  Henderson Community College  Henderson  1,561  
      Total Enrollments 15,930  
  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 Princeton  
    Enrollment (2015-2016)  
  Miles Institution Location Sec P/S Total  
  Caldwell County ATC  Princeton  370 N/A 370  
  28  Gateway Academy to Innovation and Technology  Hopkinsville  482 N/A 482  
  30  Webster County ATC  Dixon  348 N/A 348  
  32  Marshall County Technical Center  Benton  793 N/A 793  
  40  Muhlenberg County CTC  Greenville  323 N/A 323  
  40  Union County Area Vocational Ed Center  Morganfield  704 N/A 704  
  42  Murray/Calloway County ATC  Murray  376 N/A 376  
  42  Paducah ATC  Paducah  574 N/A 574  
  49  Mayfield/Graves County ATC  Mayfield  453 N/A 453  
  53  Henderson County ATC  Henderson  2197 N/A 2197  
  58  Russellville ATC  Russellville  768 N/A 768  
  60  Ohio County ATC  Hartford  718 N/A 718  
      Total Enrollments 8,106     8,106   
  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 00 $0 
 Manufacturing Expansion 140 $2,550,000 
 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 (November 22, 2017).
 
  Employment by Major Industry by Place of Work, 2015  
    Caldwell County Labor Market Area  
  Employment Percent Employment Percent  
 Total All Industries4,164100.0125,921100.0 
 Total Private Industries3,47483.4103,42282.1 
 Natural Resources and MiningN/AN/A1,1680.9 
 Construction581.46,1924.9 
 Manufacturing86220.715,15012.0 
 Trade, Transportation and Utilities82319.823,22918.4 
 Information551.31,4421.1 
 Financial Activities1724.14,1923.3 
 Professional and Business Services3478.310,5908.4 
 Education and Health ServicesN/AN/A16,45713.1 
 Leisure and HospitalityN/AN/A11,4959.1 
 Other Services and Unclassified801.92,8972.3 
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
     
  Top 20 by Employment  
  Firm Product(s)/Service(s) Emp. Year
Established
 
 Princeton 
 Bodycote IncHIP (Hot Isostatic Pressing)181981 
 Hydro-Gear LPDesigns & manufactures hydrostatic pumps, transmissions & trans-axles for the lawn & garden industry1702006 
 Pennyroyal IndustriesSheltered workshop: contract manufacturing, plaques, packaging rivets, trophies, engraving and road signs41969 
 Princeton Finishing IncCotton athletic sock finishing261997 
 Rogers GroupCrushed limestone17N/A 
 Special Metals Powder DivisionMetal powder & nickel base metal alloy billets641971 
 Times Leader & Pacesetter PrintingTwice-weekly newspaper and sheet-fed commercial printing. Also advertising opportunities on the Internet.91871 
 TreeHouse Foods IncCookies & crackers6311993 
  Source: Kentucky Cabinet for Economic Development (November 22, 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  
  Caldwell $0.2470 $0.2918 $0.2320    
  City  
  Princeton $0.1490 $0.1670 $0.1220    
  School District  
  Caldwell County Schools $0.3860 $0.3860 $0.5380    
  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  
  Caldwell   1.50%   1.50% (on net profits)  
  City  
  Princeton   1.50%   1.50% (on net profits)  
  School District  
  Caldwell 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 Caldwell County
  Electric  
 Big Rivers Electric Corporation - 270-827-2561 
    Kenergy Corporation - 270-684-6100 
 Kentucky Utilities (a PPL company) - 800-383-5582 
 Tennessee Valley Authority - 865-632-2101 
    Pennyrile RECC - 270-886-2555 
    Princeton Electric Plant Board - 270-365-2031 
     
  Natural Gas  
 Atmos Energy Corporation - 270-685-8069 
     
  Sewer  
  Treatment Information (gallons per day) Capacity Avg. Flow Excess  
 Princeton Water and Wastewater Department - 270-365-9301 
 Princeton STP1,570,0001,160,000410,000 
  Treatment information provided by Division of Water, 502-564-3410
 
  Water  
  System Information (gallons per day) Capacity Avg. Use Excess  
 Princeton Water and Wastewater Department - 270-365-93013,000,0001,629,9351,370,065 
  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): Caldwell County - $67,000 for 59 homes  
  Source: KY Department of Revenue. Data based on sales for last six months of year indicated.  
  Climate  
  Temperature    
  Normal (30-year record) 59.3 degrees  
  Average Annual, 2015 61.2 degrees  
  Record Highest, June 2012 (76-year record) 109 degrees  
  Record Lowest, January 1985 (76-year record) -17 degrees  
  Normal Heating Degree Days (30-year record) 3,688  
  Normal Cooling Degree Days (30-year record) 1,646  
  Precipitation    
  Normal (30-year record) 47.25 inches  
  Mean Annual Snowfall (30-year record) 6.3 inches  
  Total Precipitation, 2015 50.8 inches  
  Mean Number of Days Precipitation (0.01 inch or more) (30-year record) 118.9  
  Mean Number of Days Thunderstorms (68-year record) 50.2  
  Prevailing Winds South  
  Relative Humidity (30-year record)    
  12 midnight 79 percent  
  6 a.m. 84 percent  
  12 noon 57 percent  
  6 p.m. 61 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: Nashville Intl. Airport, Nashville, TN.
 
     
  Public School District Enrollments, 2015-2016  
    Total Enrollment Pupil To Teacher Ratio  
  Caldwell County Schools 1,902 16.0  
  Source: Kentucky Department of Education, Office of Assessment and Accountability.