This entry was posted on Wednesday, January 7th, 2009 at 10:27 pm and is filed under General, KY Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
The economy is strong and jobs are growing at a healthy clip – why? Many factors, but many people are moving in from out of state.
Our taxes are lower, our property values are fantastic (do you really know what you get for your dollar here?), people are gentle and the land is gorgeous.
Louisville: Ford to invest another $200 Million in Louisville; State Incentives protect 5,000+ Jobs
Look at these articles:
Ford
Louisville: Ford to invest another $200 Million in Louisville; State Incentives protect 5,000+ Jobs
Ford to invest another $200 Million in Louisville; State Incentives protect 5,000+ Jobs
Ford Motor Company is planning an additional $200 million investment at its two Louisville manufacturing plants under an amended incentive package approved by the Kentucky Economic Development Finance Authority.
Ford plans an additional $100 million investment at the Kentucky Truck Plant – on top of the $200 million in retooling over the past two years – to allow the plant to produce the Navigator and Expedition models starting in spring 2009.
Ford also plans to invest at least $100 million in the Louisville Assembly Plant to provide the manufacturing flexibility to produce a new, fuel-efficient car for the U.S. market by 2011. The total investment required to install a new flexible body shop and other re-tooling at LAP for full conversion from an SUV to a car plant will likely exceed $300 million and could go as high as $500 million.
The incentives will allow Ford to recover up to 30 percent of its total investment made by 2016, capped at $180 million. The incentive package is the culmination of months of meetings and discussions between Ford, the Commonwealth of Kentucky and the City of Louisville. The package, which includes investment and employment targets to qualify for incentives, enables Ford to finalize plans for improvements at both Louisville facilities.
“These investments will help protect the jobs of more than 5,000 Ford employees in the Louisville area and thousands more people throughout the commonwealth whose jobs and businesses depend on Ford’s continued presence here,” said Gov. Steve Beshear.
In addition, the state has approved $2 million in incentives to help auto parts supplier Martinrea expand its Christian County plant, which produces parts for Ford vehicles. Martinrea is planning a $13.5 million expansion that will add 65 jobs to its existing 340-member workforce.
Worldport
Worldport is the worldwide air hub for UPS (United Parcel Service) located at the Louisville International Airport in Louisville, Kentucky. Although UPS has had a hub at Louisville since 1980, the term was not used officially by the company until 2002, after a $1 billion, five-year expansion.[1] Previously, the project was named “Hub 2000.” The facility is currently the size of 80 football fields and capable of handling 84 packages a second, or 304,000 per hour. With over 20,000 employees, UPS is one of the largest employers in Louisville, and in the Commonwealth of Kentucky. The facility mainly handles express and international packages and letters. Worldport serves all major domestic and international hubs.
A UPS 757 cargo aircraft
A one million square foot expansion was completed in Spring 2006 to integrate heavy freight into the UPS system. The expansion was prefaced by the purchase of Menlo Worldwide, formerly Emery Worldwide. The new facility, designated “Worldport Freight Facility” (HWP), went online in April of 2006 and was the first of the company’s regional hubs to begin integrating the Menlo volume into the system. Menlo’s Dayton, OH facility was taken offline in June of 2006.
In May 2006 UPS announced, that for the third time in seven years it would significantly expand its Worldport hub at Louisville International Airport, with a second billion-dollar investment. More than one million square feet will be added to its existing facility, while another 334,500-square-foot (31,080 m2) space will be renovated with new technology and equipment. Worldport capacity to expand by 60% — from 305,000 packages per hour to 500,000 packages per hour. Additionally, several ramps at the Louisville International Airport will be built or altered bringing a total increase of just over 3,000,000 square feet (280,000 m2). Construction is slated to begin in July 2007, with an anticipated completion date in September 2010.
Since many of the jobs are part time and overnight, UPS has hired mostly college students by offering both nationwide tuition reimbursement and a special program called Metropolitan College, where University of Louisville and Jefferson Community and Technical College students who work part time overnight can receive 100% tuition reimbursement. Currently, over 75% of workers at Worldport are students.
New flights to and from Florida – no surprise being that Florida is our #1 influx of people here.
Owensboro: Allegiant air to launch new low-cost service to Florida
Allegiant Air is a low-cost carrier headquartered in Las Vegas.
Low-cost carrier Allegiant Air will launch air service between Owensboro and Orlando, Fla., beginning Feb. 18.
Flights between Owensboro-Daviess County Regional County Airport and Orlando Sanford International Airport (located midway between Orlando and Daytona Beach), will operate twice weekly, with service on Wednesdays and Saturdays. Allegiant will utilize 150-seat MD-80 jets on the route.
Regular one-way fares on the route will start at $89.
“Not only will these added flights help better meet the travel needs of those living in and around Daviess County, but this new partnership will also provide an economic boost to the region by bringing in more jobs and tourism,” said U.S. Sen. Jim Bunning, who supported the runway extension project that made Allegiant service possible at Owensboro.
New Electric Car Plant
Franklin: Plans to build $84 Million electric car plant shift gears as economy stymies Funding
Integrity Automotive has received $40 million in orders for the ZAP – short for Zero Air Pollution. The electric cars produce 98 percent fewer pollutants than gas-powered cars and can go at speeds of up to 40 miles per hour.
Integrity Automotive’s plans to build an $84 million factory in Franklin to produce electric cars have been stalled by the national economic slowdown, which has resulted in problems securing financing for the project.
Integrity Automotive President and CEO Randall Waldman told the Franklin Favorite that U.S. Sens. Mitch McConnell and Jim Bunning are working to help the company obtain a grant from the U.S. Department of Energy to help get the project back on track. Waldman has said that for the Franklin project to move forward, the company will need to secure new investors or $150 million to $200 million in federal funding.
In the meantime, Waldman says he has received $40 million in orders for the ZAP electric car and is in the process of retrofitting part of the company’s plant in Shepherdsville so that they can begin filling those orders. The company currently has approximately 200 employees in Shepherdsville and plans to add between 25 and 50 in the coming weeks so production can begin in the first quarter of 2009. Integrity officials expect to be able to produce 25 vehicles per day at the Shepherdsville facility. Waldman’s plan is to install equipment in Shepherdsville that can be moved to Franklin when the new plant becomes operational.
Lexington
Lexington: TAC Air to expand hanger and terminal at blue grass airport
Fixed-based operator TAC Air is investing $11.5 million for airfield improvements at Blue Grass Airport that will include a new executive terminal and 45,000 s.f. of new hangar space.
As a fixed-base operator, TAC Air provides ramp service for private aircraft, aviation fuel, aircraft storage and tie-down spaces, and aircraft, engine and accessory maintenance. TAC Air currently manages a general aviation terminal that serves as its operational base for handling the needs of those traveling on private and corporate aircraft.
The new 12,000-s.f. terminal will feature a large passenger lobby, two conference rooms with state-of-the-art equipment, a gift store and art gallery, upscale food offering, movie theater, exercise facility, pilot lounge, quiet room and flight planning area. The company hopes to have the new space completed before the Alltech FEI World Equestrian Games in 2010.
for more economic resources, go to the Lane Report – great magazine.
December 17th, 2009 at 6:59 pm
amazing.