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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

Amanda Davenport
Executive Director
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: lakebarkleypartnership@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, 2017
Kentucky $0.0558
U.S. $0.0691

 

Statistical Summary
  Population 2017
Caldwell County 12,639
Labor Market Area 310,082
   
 
Per Capita Personal Income 2016 $34,629
Median Household Income 2016 $43,491
Median Home Price 2016 $65,000
   
  Unemployment Rate 2017
Caldwell County 5.2%
Labor Market Area 5.8%
U.S. 4.4%
   
  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  
N/A
    2013 2014 2015 2016 2017  
  Labor Market Area 316,209 315,051 313,943 312,484 310,082  
  Caldwell County 12,816 12,780 12,690 12,568 12,639  
 Princeton6,2446,2246,1786,119 
  Source: U.S.  Department of Commerce, Bureau of the Census, Annual Estimates.  

  Population by Selected Age Groups, 2017  
    Caldwell County Labor Market Area  
Number Percent Number Percent  
  Under 16 2,473 19.6 63,217 20.4  
  16-24 1,241 9.8 36,589 11.8  
  25-44 2,887 22.8 75,174 24.2  
  45-64 3,431 27.1 79,209 25.5  
  65-84 2,273 18.0 49,298 15.9  
  85 and older 334 2.6 6,595 2.1  
  Median Age 43.4   39.6    
  Source: U.S. Department of Commerce, Bureau of the Census.  

  Population by Race and Hispanic Origin, 2017  
    Caldwell County Labor Market Area  
Number Percent Number Percent  
  White 11,648 92.2 268,865 86.7  
  Black or African American 710 5.6 30,366 9.8  
  Am. Indian & Alaska Native 37 0.3 1,284 0.4  
  Asian 41 0.3 2,548 0.8  
  Native Hawaiian & other Pacific Islander 5 0.0 442 0.1  
  Other/Multirace 198 1.6 6,577 2.1  
  Hispanic Origin 206 1.6 10,684 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  
    2011 2016 Pct. Change  
  Caldwell County $30,328 $34,629 14.2 %  
  Kentucky $33,989 $38,926 14.5 %  
  U.S. $41,560 $49,246 18.5 %  
  Labor Market Area Range $28,429- $39,872 $30,656- $45,927    
  Source: U.S. Department of Commerce, Bureau of Economic Analysis.  

  Households  
    2016 2016  
  Number of Households Persons Per Household Median Household Income  
  Caldwell County 5,322 2.37 $43,491  
  Source: U.S. Department of Commerce, Bureau of the Census.  

 


 

 

Workforce

 

 

 

  Civilian Labor Force  
    Caldwell County Labor Market Area  
  2017 Jun. 2018 2017 Jun. 2018  
  Civilian Labor Force 5,467 5,489 129,942 131,443  
  Employed 5,182 5,162 122,351 123,487  
  Unemployed 285 327 7,591 7,956  
  Unemployment Rate (%) 5.2 6.0 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.  
  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  
  2017 5.2 5.8 4.9 4.4  
  Source: U.S. Department of Labor, Bureau of Labor Statistics.  
  Commuting Patterns  
  Residents of Caldwell County 2015 Percent  
  Working and Residing In County 2,074 41.8  
  Commuting Out of County 2,893 58.2  
  Total Residents 4,967 100.0  
  Employees in  
  Working and Residing In County 2,074 51.3  
  Commuting Into County 1,965 48.7  
  Total Employees 4,039 100.0  
  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 2016)
 
  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  10,486  
  42  Murray State University, Paducah Regional Campus  Paducah  N/A  
  48  Austin Peay State University  Clarksville, TN  10,344  
  53  Murray State University, Henderson Regional Campus  Henderson  N/A  
      Total Enrollments 20,830  
  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 2016)
 
  26  Madisonville Community College, Health Campus  Madisonville  N/A  
  26  Madisonville Community College, Main Campus  Madisonville  † 3,344  
  28  Hopkinsville Community College, Main Campus  Hopkinsville  † 2,882  
  42  West Kentucky Community & Technical College, Main Campus  Paducah  † 6,065  
  44  Madisonville Community College, Muhlenberg Campus  Central City  N/A  
  48  Daymar Institute, Clarksville Campus  Clarksville, TN  854  
  48  Miller-Motte Technical College, Clarksville Campus  Clarksville, TN  416  
  48  North Central Institute  Clarksville, TN  136  
  53  Henderson Community College  Henderson  1,330  
      Total Enrollments 15,027  
  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 (2016-2017)  
  Miles Institution Location Sec P/S Total  
  Caldwell County ATC  Princeton  406 N/A 406  
  28  Gateway Academy to Innovation and Technology  Hopkinsville  540 N/A 540  
  30  Webster County ATC  Dixon  366 N/A 366  
  32  Marshall County Technical Center  Benton  1001 N/A 1001  
  40  Muhlenberg County CTC  Greenville  363 N/A 363  
  40  Union County Area Vocational Ed Center  Morganfield  625 N/A 625  
  42  Murray/Calloway County ATC  Murray  331 N/A 331  
  42  Paducah ATC  Paducah  596 N/A 596  
  49  Mayfield/Graves County ATC  Mayfield  504 N/A 504  
  53  Henderson County ATC  Henderson  2102 N/A 2102  
  58  Russellville ATC  Russellville  912 N/A 912  
  60  Ohio County ATC  Hartford  758 N/A 758  
      Total Enrollments 8,504     8,504   
  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, 2015-Present  
    Reported  
    Companies Jobs Investment  
 Manufacturing Location00$0 
 Manufacturing Expansion240$5,550,000 
 Service & Technology Location00$0 
 Service & Technology Expansion00$0 
  Click here for detailed location and expansion information.
Note: Totals include announced locations and expansions.
Source: Kentucky Cabinet for Economic Development (July 15, 2018).
 
  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)201981 
 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 CorporationMetal 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 & crackers5481993 
  Source: Kentucky Cabinet for Economic Development (July 15, 2018).  

 


 

 

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, 2017  
  Taxing Jurisdiction Property Taxes
Per $100 Valuation
   
  Real Estate Tangibles Motor Vehicles  
  County  
  Caldwell $0.2504 $0.3043 $0.2320    
  City  
  Princeton $0.1570 $0.2050 $0.1220    
  School District  
  Caldwell County Schools $0.4460 $0.4460 $0.5380    
  Source: Kentucky Revenue Cabinet.  
     
  Local Occupational License Taxes, 2017  
  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 (2016): Caldwell County - $65,000 for 49 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, 2016-2017  
    Total Enrollment Pupil To Teacher Ratio  
  Caldwell County Schools 1,903 16.8  
  Source: Kentucky Department of Education, Office of Assessment and Accountability.