After a yearlong review, Louisville Mayor Greg Fischer has restructured and renamed the city’s economic development department. And the new Department of Economic Growth and Innovation will incorporate or replace several offices Fischer created in the last year. After six months, the $100,000 a year Office of Innovation is no more. Director Ted Smith will… Continue reading Economic Development Restructuring Changes New City Offices
The University of Kentucky has received nearly half a million dollars from the National Science Foundation to study economic development in eastern Kentucky. The study involves faculty from UK’s business school and schools of social work, public health, sociology and agriculture. Business professor Walter Ferrier is the study’s principal investigator. He says the researchers will… Continue reading National Science Foundation Grant Funds UK Economic Development Study
Tomorrow, the mayors of Louisville and Lexington will announce the details of a study from the Brookings Institution on the potential for a super region between the two cities. The last Brookings study of Louisville was critical of several economic development efforts, including the city/county merger, the Bucks for Brains program and the creation of… Continue reading Officials Defend GLI After Lackluster Review From Brookings
Hardin County officials say expanded alcohol sales will help the area capitalize on future developments further north. On October 4th, voters in Elizabethtown, Radcliff and Vine Grove will vote on whether to allow alcohol sales at package liquor stores and in restaurants. “We become a more attractive location, I think, for some younger professionals and… Continue reading Hardin County Officials Say Alcohol Sales Will Spur Economic Development
Kentucky Governor Steve Beshear announced Monday the Alltech FEI World Equestrian Games held last year had an economic impact of $201.5 million, according to a study commissioned by the Tourism, Arts and Heritage Cabinet. “The World Equestrian Games were indeed a success and this report illustrates the positive result that our local and state governments,… Continue reading Study: Equestrian Games Had Over $200 Million Economic Impact
With a promise of city and state tax rebates, a British transportation company is expanding its operations in Louisville. Invensys Rail will add 75 jobs that pay around $70,000 a year to its east Louisvile office, which currently employs about 275 people. Among other products, the transportation company develops automated railroad transit systems, but Mayor… Continue reading Transportation Company to Expand Louisville Offices
The argument over whether adult entertainment draws visitors is usually fairly quiet, given the cultural taboos surrounding the key issue. But the topic ties to economic development, and in many instances, it mirrors the debate over expanded gambling.
Fischer acknowledged the city’s shortcomings and said Louisville must rise above the second tier: The city has lost thousands of jobs in the last decade; educated residents have moved away; and current graduation rates are below expectations.
Margaret Handmaker most recently worked with the Downtown Development Corporation. She will lead the city’s economic development department for six months, or until a permanent director has been found.
The park is expected to receive about 37.5 million dollars in tax incentives. On WFPL’s State of Affairs Thursday, Beshear said the park will generate jobs, but the developers cannot discriminate based on religion or any other criteria when hiring.