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Kentucky Cabinet for Economic
Development
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
502-564-7670
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Secretary Larry Hayes Appointed Interim Secretary
of Economic Development
Cabinet
 Following
the resignation of John Hindman as Secretary of the Cabinet
for Economic Development, Governor Steve Beshear and the
Executive Committee of the Partnership Board appointed
Executive Cabinet Secretary Larry Hayes as Interim Secretary
of the Cabinet.
"I'm excited that we have
someone in place in Larry Hayes who can assume these critical
duties at a pivotal juncture in our state's economic
development," said Gov. Beshear. "We will not miss a
step. In fact, I believe we can take this transition period to
evaluate where we are and find important ways to improve and
refine our efforts so that our state can grow the kinds of
jobs and businesses we need to compete successfully in a
global economy."
Hayes has a long and diverse
background in public service, economic development and private
business. In public life, he has served recently as Deputy
Mayor for Louisville Mayor Jerry Abramson. He also was
Secretary of the Cabinet and Budget Director for Gov. Martha
Layne Collins. Hayes played a central role in landing the
Toyota Manufacturing facility located in Georgetown.
With that development as a catalyst, Kentucky is
now home to more than 150 Japanese-owned businesses, employing
nearly 40,000 people. In addition, Hayes helped create and was
the first president of the organization that is now Greater
Louisville Inc., the highly successful public-private
partnership that guides economic development efforts in the
Louisville Metro area.
Beshear said there is no
specific timetable for a permanent replacement, pointing out
that transitions "offer a good time in which to evaluate where
progress has been made and where more is
needed."
"The governor believes - and I agree -
that we should take some time to evaluate all the good things
we are doing in economic development, while also assessing
areas where we can improve as we seek to build a stronger,
more sustainable economy for Kentucky's future," Hayes said.
"I look forward to hopefully building on the good efforts that
already have been made under
John Hindman's leadership as we compete for jobs and
developments in what are clearly challenging times. With the
governor's leadership and vision, I'm confident we will
continue to make
progress."
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NPR Manufacturing Kentucky Opens in
Bardstown
 NPR
Manufacturing Kentucky has officially opened its doors in
Bardstown, celebrating its grand opening with Governor Steve
Beshear, company and community officials on hand. The
$48.7 million Japanese investment is NPR's first manufacturing
facility in the commonwealth.
"I'm honored to
take part in the grand opening for NPR Manufacturing
Kentucky," said Gov. Beshear. "This Kentucky facility
will be a tremendous asset to the Bardstown community,
providing 150 new employment opportunities. The
commonwealth will continue to partner with NPR Manufacturing
Kentucky to ensure its success and growth for years to
come."
Parent company Nippon Piston Ring Co.,
Ltd., headquartered in Saitama City, Japan, announced in May
2006, it would locate its newest manufacturing facility in
Kentucky. The 200,000 square-foot plant, named NPR
Manufacturing Kentucky, will produce steel piston rings, a key
automotive engine component.
"I deeply
appreciate everyone who has supported us in opening our new
business in Bardstown," said Yasuyoshi Egami, president of NPR
Manufacturing Kentucky, LLC. "I know our company
made the right decision in choosing Bardstown and we are
looking forward to opportunities to grow our company
here. Bardstown is certainly one of the most beautiful
and wonderful cities I have ever seen."
NPR
Manufacturing Kentucky, located in the Wilson Industrial Park,
is Bardstown's ninth Japanese company. Production at the
Bardstown operation is expected to reach 18 million pieces
annually.
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Governor Beshear's Economic Development Trip to
Japan Leads to New Jobs and Investment for
Kentucky
 Fuel
Total Systems, a Japanese-owned automotive supplier, will
locate a new facility in Lebanon, Kentucky. Governor
Steve Beshear and Secretary Larry Hayes met with company
officials during their June economic development trip to
Japan. The project will result in 100 new full-time jobs
in the commonwealth.
"I'm delighted to announce
the addition of Fuel Total Systems to Kentucky's corporate
landscape," said Gov. Beshear. "We had a very productive
and positive meeting with company officials in Japan this
summer, at which time they expressed their intent to locate a
new facility in Kentucky. We will continue our
relationship with Fuel Total Systems as they establish
themselves and grow right here in the
Bluegrass."
Fuel Total Systems California
Corporation is a subsidiary of FTS Co., Ltd, with its head
office located in Aichi Prefecture, Japan. The company
will construct its new 140,000 square-foot Kentucky facility
on 20 acres in Marion County. The plant will manufacture
and supply automotive fuel tank systems and related
components.
Gov. Beshear made his inaugural trip
to Japan as Governor in June to continue and enhance
Kentucky's strong relationship with the Japanese business
community. The announcement brings Kentucky's total
Japanese-owned facility count to nearly 160, employing nearly
40,000 people across the
commonwealth.
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Aircraft Braking Systems Company Doubles Size
of Initial Facility
Governor
Steve Beshear recently joined company and local officials in
Boone County to celebrate the grand opening of Messier-Bugatti
USA's newest facility, doubling the size of its initial
plant. A global
manufacturer of wheels, brakes and advanced carbon-carbon
heatsinks used in aircraft braking systems, the expansion will
allow the company to manufacture its products using the most
advanced technology available in the world.
"I'm delighted to take part in the grand opening for
Messier-Bugatti USA's new state-of-the-art manufacturing
facility in Northern Kentucky," said Gov. Beshear. "Messier-Bugatti is a
world-class company, producing the most
technologically-advanced aircraft braking system products in
the world. We're
proud to have them call Kentucky home and are honored to play
a role in their continued growth."
Messier-Bugatti USA was recently purchased by the
SAFRAN Group, an international high-technology group organized
into three activities: aerospace propulsion, aircraft
equipment, and defense security.
The
Northern Kentucky facility, which began operations in 1998 as
A-Carb, houses Messier-Bugatti USA's U.S. headquarters and
manufacturing facility.
The plant was built to respond to the company's
presence in the Americas, both in initial supply of braking
systems and in refurbishment of brakes on existing
fleets.
Messier-Bugatti wheels and carbon brakes equip more
than 3,500 commercial aircraft across the world, including
almost 250 airline companies and 20 air
forces.
"We're
so proud to have 'Kentucky-made' wheels and brakes on the
Boeing 787 Dreamliner and the 777 and numerous U.S. Air Force
aircraft including the KC-135 tanker," said SAFRAN Group CEO
Jean-Paul Herteman.
"We're looking forward to seeing what other SAFRAN
Group investments could come to the remaining 20 acres of the
Walton property."
Messier-Bugatti's 200,000 square-foot facility is
located on a 40 acre site and employs 214 people. The company has
invested $94.5 million in the commonwealth since its location
in 1998. The
commonwealth has approved nearly $8.3 million in state
incentives through the Kentucky Industrial Development Act and
the Kentucky Enterprise Initiative Act in numerous
projects.
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State Energy Fund Awards Over $1 Million to
Seven Companies
 Seven
Kentucky companies were recently awarded a combined $1,150,000
in funding from the Kentucky New Energy Ventures Fund, a state
program that invests public funds in promising renewable and
alternative energy companies in the commonwealth. The $5
million fund was created by the General Assembly under House
Bill 1 during the 2007 Extraordinary
Session.
"The energy-related technologies being
developed by these seven companies demonstrate that innovation
is alive and well in Kentucky," said Governor Steve Beshear.
"The Kentucky New Energy Ventures Fund not only is helping
companies across our state, it is helping produce renewable
and alternative energy technologies that could enhance the
energy security of our entire nation."
The fund
is designed to: (1) grow Kentucky-based alternative fuel and
renewable energy companies; (2) stimulate private investment
in Kentucky-based alternative fuel and renewable energy
enterprises; (3) expand the alternative fuel and renewable
energy knowledge base, talent force and industry in Kentucky;
(4) develop an alternative fuel and renewable energy resource
network; and (5) build statewide awareness of the economic
development opportunities offered by Kentucky's alternative
fuel and renewable energy industry.
The fund
provides either one-time grants of $30,000 or larger equity
investments, which to date have ranged from $250,000 to
$750,000. Both grants and investments must be matched
dollar-for-dollar by the company.
Wind
Energy Corporation (Elizabethtown) received a $750,000
investment and Louisville Clean Energy (Louisville and Henry
County) received a $250,000 investment. Grants of $30,000 were
awarded to each of the following companies: Neathery
Technologies (Lexington), RE Strategies (Midway), Thermobaric
Energy Systems (Madisonville), Kentucky Renewable Energy
(Paducah), and Kozo Saito, University of Kentucky
(Lexington).
The fund opens its next round of
solicitations for grants and investments on October 16, 2008,
and closes on November 13, 2008, at 4:00 p.m. ET. Awards will
be announced the week of February 23, 2009. The program
application and guidelines are available at http://www.startupkentucky.com.
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New Statewide Microenterprise Association
Formed
 After a
comprehensive strategic planning process, economic development
organizations from around the state have come together to form
Partners for
Entrepreneurial Advancement in Kentucky (PEAK). The statewide,
non-profit association is dedicated to encouraging
microenterprise development.
A microenterprise is typically defined as a
company with five or fewer employees. PEAK's mission is to
promote growth, opportunities, and access to resources for
organizations that support and encourage such businesses.
PEAK provides its members with the
following:
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Educational,
networking and best practice sharing opportunities;
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Access to an
annual conference where they can learn about strategies to
grow and develop micro businesses within the communities that
they represent;
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Access to an
online calendar to learn about and post events of interest in
the economic development community; and the
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Opportunity to comment on
PEAK's strategic direction
"State microenterprise associations
(SMAs) have been instrumental in funneling federal
dollars into the states to support entrepreneurship.
They also facilitate best practice sharing among nonprofits
and agencies that develop entrepreneurs.
"We are pleased that PEAK has been
a part of our SMA Capacity Building Initiative, and are
looking forward to the expansion of entrepreneurship in
Kentucky as a result," said Kim Pate, vice president of
Strategic Partnerships at the Corporation For Enterprise
Development (CFED), a national non-profit organization
dedicated to expanding economic opportunity in the U.S.
CFED provided PEAK with a $10,000 grant to start
operations, and has been instrumental in providing technical
assistance to the association.
"Today's microenterprises are tomorrow's small
businesses and they are extremely important to our state's
economy. We are
very proud to join with these organizations to become a
founding member of PEAK and to help support microenterprise
development throughout the entire state," said John Cole,
director of the Cabinet for Economic Development's Small
Business Services Division.
The organization's founding members include the
Kentucky Cabinet for Economic Development; Federal Reserve
Bank of St. Louis, Louisville Branch; the Kentucky District
Office of the U.S. Small Business Administration; the Kentucky
Small Business Development Center; Community Ventures
Corporation; Mountain Association for Community and Economic
Development (MACED); Kentucky Highlands Investment
Corporation; the Jewish Family and Vocational Service of
Louisville; and Commerce Lexington.
For more information, visit PEAK's Web site at
www.peakky.org or
contact Mark Johnson, PEAK's Chair, toll free at
1-800-626-2250.
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Small Business Town Hall Forum Held in
Pikeville
 The
Kentucky Cabinet for Economic Development's Small Business
Services Division continued an initiative to take its dynamic
Small Business Connections Town Hall Forum into all parts of
the state--most recently to Pikeville.
The free
conference, sponsored by Community Trust Bank, introduced
participants to federal, state, and local resource
organizations that provide financing, procurement, marketing,
management consulting, and other services to help small
businesses grow. In addition, attendees had the
opportunity to hear from and question a panel of local
entrepreneurs regarding their individual journeys to small
business ownership.
Representatives from the
Kentucky Cabinet for Economic Development presented
information on services and programs provided by the Small
& Minority Business Branch, the Kentucky Procurement
Assistance Program, the International Trade Division, and the
Commission on Small Business Advocacy.
Other presentations were given by the Morehead
State University (MSU) Small Business Development Center, the
MSU Innovation Center, the U.S. Small Business Administration,
the Mountain Association for Community Economic Development
(MACED), Pike County SCORE, and Capital Access
Corporation.
Two other town hall forums
are planned for Elizabethtown and Frankfort later this
year.
In addition to the regular agenda at
the Elizabethtown conference, participants will also have the
opportunity to attend several afternoon workshops specifically
focusing on procurement opportunities with Fort Knox and to
speak, one-on-one, with economic development representatives
about their business' specific financing needs.
Please contact the Small Business
Services Division toll free at 1-800-626-2250 for more
information.
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37th Ryder Cup Makes History in
Kentucky
 Kentucky rose to the
occasion as the 2008 Ryder Cup took center stage at Valhalla
Golf Club in Louisville. As the best golfers from the
United States and Europe competed for the coveted trophy and,
of course, for pride of country, there was one key factor that
played a big role in the U.S. Team victory - the 13th
Man.
There was no denying the impact of the crowd
the week of September 16-21, approximately 40,000 daily.
The excitement and enthusiasm shown by all including
Kentucky's adopted son, Team USA Captain Paul Azinger, was
unmistakable.
"You made the difference
this week," Captain Azinger said at the Closing Ceremony on
Sunday. "We love you all." The U.S. Team victory was its
first since 1999, posting a 16 ½ to 11 ½ win. It was the
largest margin of victory for the U.S. since an 18 ½ - 9 ½
triumph over the Europeans at Walton Heath Golf Club in
1981.
Led by six rookies, including two of
Kentucky's own, Kenny Perry and J.B. Holmes, Team USA
displayed heart, determination and even humor. The event
will no doubt leave a lasting legacy here in the
Bluegrass.
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