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CONTACT INFORMATION
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Kentucky
Cabinet for Economic
Development
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 The
Kentucky Cabinet for Economic Development is
launching a new centerpiece to its marketing
strategy - the Kentucky Economic Development
Guide. The multi-media magazine will be
utilized year-round to promote economic growth and
vitality in Kentucky
to
reach prospective new and expanding businesses,
prospective new residents and employees.
The Kentucky Economic Development
Guide will be a vibrant, newsstand-quality
magazine that showcases the best of
Kentucky
through
its people, places and progressive business
climate. With all new, original photography and
editorial features, the 2009 edition will focus on
specific areas of business and economic
development; education; industrial, commercial and
land offerings; sports and recreation; healthcare
and quality of life.
"The Kentucky
Economic Development Guide 2009 will illustrate
the great quality of life we enjoy in
Kentucky
and
promote our economic strength and growth potential
to new businesses," said Kentucky Cabinet for
Economic Development Interim Secretary Larry
Hayes. "This highly targeted marketing tool will
serve as an important component in our effort to
continue to raise the profile of the commonwealth
to a worldwide audience."
Scheduled to publish in May,
businesses now have the opportunity to reserve
advertising space. More than 15,000 copies of the
magazine will be distributed by the Cabinet and
key business partners, as well as at trade shows,
conferences and events throughout the year.
To create the quality publication,
the Cabinet for Economic Development is partnering
with Journal Communications (jnlcom.com), an
award-winning custom publisher of community,
regional and specialty magazines with more than
100 clients in over 30
states.
 The
print magazine will be just one part of the
complete publishing program that also includes an
online magazine and photographic streaming video
tour, and a targeted distribution network.
"Journal is proud to partner with
such a progressive region," said Ray Langen,
executive vice president for Journal
Communications. "Great business communities make
great subjects, and we anticipate a spectacular
publication this year."
"Journal
Communications is committed to giving
Kentucky
businesses and communities the opportunity to be
included in this publication," added Langen.
For more information contact Journal
Communications at (800)
333-8842.
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Fuel
Total Systems Breaks Ground in Lebanon
 Gov.
Steve Beshear and Cabinet for Economic Development
officials joined company and community leaders in
November to break ground on the future home of
Fuel Total Systems in Marion
County
.
The Japanese-owned automotive supplier announced
its decision to locate in
Kentucky
last
September. The project will create 100 new
full-time jobs and represents an investment of $38
million in the
commonwealth.
"I'm honored to
stand alongside officials from Fuel Total Systems
and Marion County to break ground
on this new
Kentucky
facility," said Gov. Beshear during the
ceremony. "This groundbreaking represents
100 new jobs and a multi-million dollar investment
in the region.
Kentucky
is
proud to welcome Fuel Total Systems and will work
hard to ensure its long-term
success."
 Fuel
Total Systems California Corporation is a
subsidiary of FTS Co., Ltd, with its head office
located in Aichi Prefecture,
Japan.
The company anticipates construction on its new
140,000 square-foot Kentucky facility, located
on 18 acres in
Marion
County
, to
be completed by the end of 2009. The plant
will manufacture and supply automotive fuel tank
systems and related components.
"It
is our great pleasure to work on this new project
with wonderful people in the city of Lebanon, Marion County and the
commonwealth of
Kentucky,"
said Fuel Total Systems President Taketo Matoba.
"We really appreciate this opportunity and
look forward to working with local people toward a
successful future."
The company
announced its decision to locate in Kentucky following
discussions with Gov. Beshear and Executive
Cabinet Secretary Larry Hayes during an economic
development trip to
Japan
this past summer. Approximately 160
Japanese-owned facilities employ nearly 40,000
people across the commonwealth.
The
Kentucky Economic Development Finance Authority
approved Fuel Total Systems for tax benefits under
the Kentucky Rural Economic Development Act, an
incentive program designed to attract new
manufacturing employment to the
state.
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Coca-Cola
Enterprises Selects Louisville for New
Information
Technology
Development
Center
 Coca-Cola
Enterprises, the world's largest marketer,
distributor and producer of bottled and canned
liquid nonalcoholic refreshment has announced it
will locate its new Information Technology (IT)
Development
Center in
Louisville
.
The company also has announced its intent to
recruit from the local collegiate base for the new
IT and Business Information Services (BIS)
Development
Center
.
The project is expected to create
approximately 35 new full-time jobs in the
community. The BIS Development Center of
Louisville will be an extension of IT services
provided from the system's
Atlanta
group,
where Coca-Cola Enterprises is
headquartered.
"Coca-Cola
Enterprises' new Information
Technology
Development
Center
will be a fantastic addition to
Louisville
's
business community," said Gov. Beshear. "By
recruiting local college students to fill highly
skilled jobs, the company is providing an
incentive for students seeking career employment
to stay right here in the commonwealth."
"Louisville is an optimal
location for a Development
Center as
it is in the same time-zone as
Atlanta
and it
has excellent technology credentials with IT
professionals available from a pool of local
universities," said Michelle Bellamy, senior
director of global development for Coca-Cola
Enterprises.
 The
5,600 square-foot BIS Development
Center
, set
to go live in the first quarter of 2009, will
extend the BIS mission and build in-house
knowledge by reducing reliance on external
contractors. It will focus on new
development and top-end
projects.
"We're excited about this
opportunity," said Bellamy. "We're creating
a new diverse culture filled with fresh
perspectives and a keen understanding of the
latest technologies. This will allow us to
be more innovative and proactive toward our
business needs."
In addition to
full-time opportunities, the development center
will have an active internship program for
students during the summer months. Students'
academic skill-sets will be matched with key
functions within the development center, allowing
for growth and better transition after
graduation.
"These high-tech jobs,
with one of world's best known companies, are
exactly the type of jobs we need and want in
Louisville
," said
Mayor Jerry Abramson. "Coca-Cola has a bright
future in our city."
"The ability to
attract and retain critical technical and diverse
talent is one of Coca-Cola Enterprises' strategic
priorities," said Percy L. Wells, II, vice
president of public affairs and communications,
Coca-Cola Enterprises. "The expansion of our
BIS system in
Louisville
demonstrates our commitment to creating a work
environment conducive to professional development,
growth and one that fosters
creativity."
The Kentucky Economic Development Finance
Authority preliminarily approved Coca-Cola
Enterprises for tax benefits up to $730,000 under
the Kentucky Jobs Development Act, an incentive
program designed to increase technology and
service-related employment in the
commonwealth.
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Cabinet's
Outreach to Kentucky
Small
Businesses Makes Big Impact in
2008
The
Cabinet's Small Business Services Division
achieved many notable accomplishments during
2008. The division, which consists of the
Business Information Clearinghouse, the Commission
on Small Business Advocacy, the Kentucky
Procurement Assistance Program and the Small and
Minority Business Branch, continued and increased
its efforts to assist Kentucky's small businesses
through a variety of programs and
services.
"I am
very proud of our many accomplishments in 2008,
and I look forward to continuing to help small and
micro businesses in the coming year," said John
Cole, division director of the Cabinet's Small
Business Services Division.
The
following is a select listing of the Cabinet's
achievements in its small business outreach during
2008:
Expanded
its Small Business and Entrepreneurial Connections
Forums into five new areas - Morehead,
Hopkinsville, Pikeville, Frankfort, and
Elizabethtown.
·
Updated
its small business website, www.thinkkentucky.com/sbsd,
providing even more valuable information on topics
such as starting a business, business financing,
operating an online business, and government
contractingand
certification.
·
Handled
over 3,600 inquiries from individuals seeking
information on how to legally start and properly
license a business in Kentucky
.
·
Updated
and published the Kentucky Business Guide
(http://www.thinkkentucky.com/kyedc/pdfs/bicguide.pdf),
a handbook for starting a business in
Kentucky.
·
Enhanced
its online business start up and licensing web
page at www.thinkkkentucky.com/BIC.
·
Participated
in the launch of the Reg Watch system, a web-based
tool designed to provide an early alert notice
about newly proposed government
regulations.
·
Reviewed
over 100 promulgated regulations to determine
their impact on small
businesses.
·
Created
and analyzed an online small business survey to
better determine the regulatory concerns of small
businesses.
·
Provided
bid match services and government contracting
assistance to over 2,600 Kentucky
businesses.
·
Assisted
clients in obtaining more than $100 million
ingovernment
contracts.
·
Presented
23 procurement-related
workshops.
·
Hosted
the Association of Procurement Technical
Assistance Centers (APTAC) national conference in
Lexington
.
·
Successfully
completed the Kentucky MicroEnterprise
Loan program (KMEL), a pilot
programwhich
provided over $300,000 in microloans
andtechnical
assistance services to entrepreneurs in 11
counties that had little or no access to such
services previously.
·
Had
more than 3,500 business consulting inquiries and
outreach contacts.
·
Presented
42 workshops on relevant business
start
up and expansion
topics.
·
Assisted
in the creation of, and hold a leadership position
in, Partners for Entrepreneurial Advancement in
Kentucky(PEAK),
a nonprofit statewide
microenterprise
association whose
mission is to support
microenterprisedevelopmentagencies
in the state.
·
Kept
with its focus to encourage youth entrepreneurship
andwomen
business ownership by working with
non-profit
organizations
like the Girl Scouts of America,
the
Louisville Office
for Women, several Kentucky middle
schools,
and Kentucky
State
University
.
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Innovation
and Commercialization Program
Success
The
Cabinet's Department of Commercialization and
Innovation (DCI) manages Kentucky's unique network of
six regional Innovation and Commercialization
Centers
(ICCs) and six local
Innovation
Centers
(ICs), as well as two field offices.
The
network, administered under contract to DCI by the
Kentucky Science and Technology Corporation
(KSTC), offers comprehensive business services
focused on helping Kentucky
entrepreneurs optimize their business strategies
to build successful technology-based companies.
Services are typically free of charge to
Kentucky
residents.
The
commercialization process includes detailed steps
and guidelines that help entrepreneurs protect
their intellectual property and refine their
business strategy, financials, investor
presentation, concept, and
valuation. Overall, the goal of the program
is to increase the probability of Kentucky-based
high-growth, knowledge-based businesses being
created and funded.
Inventors and
entrepreneurs are encouraged to contact their
closest ICC or IC when planning to establish
or relocate a technology-based business
in
Kentucky
.
Regional ICCs are located in Louisville, Lexington, Covington, Richmond, Bowling Green, and
Murray
. ICs are
located in Ashland,
Paducah,
Paintsville, West Liberty,
Elizabethtown
,
and Williamstown.
The
program also supports a field office in Owensboro, affiliated with
the Central Region ICC in Bowling Green, and a field
office in
Hopkinsville
,
which is affiliated with the Murray ICC. Several
of the locations offer business
incubator/accelerator office space and/or
laboratory facilities.
KSTC reports
the following successes from July 2001 through
June 2008:
-
448
new companies formed (120 in FY2008 alone);
-
$250
million in private investments obtained by the
new companies ($79 million in FY2008);
-
$606
million in revenues generated ($317 million in
FY2008);
-
2,724
new jobs created (791 in FY2008, of which 426
were high-tech positions) at an average
annual salary of more than $65,000.
-
It
is estimated that the new companies and jobs
have generated $2.3 million in state tax
revenue.
-
Total
DCI investment in the program as of June 30,
2008, was $9,727,681 for a per-job cost of only
$3,571 ($2,852 in
FY2008).
More
information about the Innovation and
Commercialization Program and contact information
for the ICCs and ICs can be found at
www.startupkentucky.com.
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Cabinet
Selects ROI to Represent European
Interests
 Kentucky's
foreign direct investment from Europe includes 180 business
operations with more than 26,000 direct
employees. For more than 20 years,
the Cabinet has maintained
official representation in Europe to build
relationships with existing investors and identify
new opportunities. Effective November
1, 2008, that representation will be provided
by Research on Investment (ROI), an economic
development consulting firm based in
Montreal
with
European offices in Glasgow and Paris.
ROI team leaders for
Kentucky - Erika
Magder, executive director research and
client services, and Duncan McPhie, vice president
Europe - visited
the commonwealth in mid-November
to learn more about the Cabinet and
the state's business
environment.
During their
visit, ROI met with economic development agencies
in Lexington,
Covington,
Louisville, Elizabethtown, Bowling Green, and Glasgow, as well as in-state
executives with WILD Flavors,
Messier-Bugatti
USA
,
and North American Stainless.
They also attended a portion of
the annual conference of the Kentucky Association
for Economic Development in Lexington, and visited
Cabinet offices in
Frankfort
to
meet with Interim Secretary Larry Hayes, New
Business Development project managers and other
key staff.
"We
here at ROI are very excited to be working with
the Kentucky Cabinet for Economic Development and
representing the commonwealth in Europe," said
Steven Jast, president of ROI. "Even though we've
just begun what we hope will be a long
relationship with the KCED, we're pleased to say
that we have already seen a great deal of interest
from European companies regarding expanding to
Kentucky
. We
look forward to being part of Kentucky's investment
attraction strategy in Europe and identifying
high-quality projects for the
state."
ROI
will represent
Kentucky
and no
other state in the European market. The
ongoing work of ROI will focus on the
identification of new business opportunities in
the automotive, solar energy, aerospace, and food
sectors, as well as helping the Cabinet maintain
good relations with existing European investors in
Kentucky
.
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CASCO
Consolidates Operations to Morgantown
 Casco
Products Corporation recently announced its plan
to maintain and expand its operation in Morgantown, Kentucky.
The Cabinet for Economic Development was able to
assist the company in its consolidation efforts,
moving Casco operations in Marks, Mississippi, to the
Morgantown
plant.
The
move will protect 30 existing jobs and will result
in the hiring back of 17 laid-off workers.
Additionally, the company will create 30 new jobs
in the area. Casco's Morgantown
manufacturing facility, which has been in
operation since 1998, produces automobile
accessories including cigarette lighters and power
outlets.
Casco's
plan will involve moving from its current 40,000
square-foot facility to the more efficient 120,000
square-foot former Sumitomo building. The move
will be a considerable upgrade for Casco's
operation with the purchase of more than $1.3
million in equipment. The average hourly wage for
new hires will be $23.35, exclusive of
benefits.
Casco's
Morgantown Plant Manager Earl Beloin said the move
was good for the company because Kentucky
has a
highly qualified labor and technical
force.
In
light of the country's current economic downturn,
particularly in the automobile manufacturing
sector, Casco's decision to remain in Morgantown and move
operations from Mississippi is a positive
outcome for Butler County and
Kentucky
.
The
Kentucky Economic Development Finance Authority
preliminarily approved Casco at its December
meeting for up to $1.35 million in tax credits
through the Kentucky Rural Economic Development
Act.
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Integrated
Pharmaceutical Packing to Locate in Simpson
County
 Franklin
,
Kentucky, is
now home to a new corporate citizen.
Integrated Pharmaceutical Packaging has opened a
new operation in the former Tyco Electronics
plant. The company will receive prescription
and over-the-counter medication in bulk from drug
manufacturers, then package, label and ship it
out.
"There are virtual drug
companies out there that never see their
product. They contract to have it made, and
they contract to put it out on shelves.
There is a great demand to have a packaging
operation that is full service," said Integrated
Pharmaceutical Packaging President Steve
Richardson.
Richardson
said
he currently has eleven employees and
plans to hire 5 more soon. A second
shift will be added along with seven to 10
more employees by the second quarter of
2009. Employment could swell to 50 by the
end of 2009.
The company is
undergoing a massive renovation project in 40,000
of the building's 120,000 square feet, utilizing
local contractors and buying all materials from
Simpson
County
.
"Our goal is to do as much as we can in
Simpson
County,"
added
Richardson
.
The
state-of-the-art facility will begin with two
lines - one of which can fill 200 bottles a
minute. The company hopes to add another
three lines if business goes well.
Integrated Pharmaceutical Packaging will share the
building with Blu Pharmaceuticals, a generic drug
provider which has increased its business 20-fold
since opening in
Franklin
about a
year ago.
Integrated Pharmaceutical
Packaging was approved for training assistance
from the Bluegrass State Skills Corporation, the
Cabinet's workforce training arm.
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Cabinet
Staff Achieve
Certification
The
Cabinet is pleased to recognize five staff members
who recently received certification as Economic
Development Finance Professionals (EDFP) from the
National Development Council (NDC). Certification
is a designation given to individuals who
successfully complete an intensive economic
development finance training series that is
conducted by NDC.
Kristina Anderson,
Department for New Business Development; Darlene
Bussell, Central Kentucky Office; Fran
Carrico, Central Kentucky Office;
Mark Johnson, Small Business Services Division;
and William Yarber, Department of Financial
Incentives, completed the certification in
December 2008.
Courses provided
individuals working in the field of economic
development with training in credit analysis, real
estate financing, loan packaging, deal structuring
and negotiating and the creation and
implementation of development
programs.
The New York-based NDC, a
private non-profit corporation established in
1972, specializes in economic/housing development
training and technical assistance. NDC has
provided training to approximately 50,000 people
working in the field of economic and housing
development. Participants come from many diverse
groups: city and state governments, public
agencies, community-based organizations,
professional organizations, bankers,
etc.
This series of courses was held
in Bowling Green, Kentucky, and
was funded by a grant received by Lake Cumberland
Area Development District for the tuition fees for
the course participants. BB&T was also a
sponsor of the four
sessions.
Congratulations to each of
you!
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