Latest / Kentucky Business News / 9.4.25

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9.4.25 · Kentucky Business News

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  Speaker 1: Hello. Today, I'll be reading from business sources in Lexington
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  and Louisville, including The Lane Report and others from around
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  the Commonwealth. Your reader today is Julia Shane. As a reminder,
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  RADIOI is a reading service intended for people who are
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  blind or who have other disabilities that make it difficult
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  to read printed material. Our first article comes from the
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  September second, twenty twenty five edition of The Lane Report
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  and is titled Governor Basheer announces seven and a half
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  million dollar investment for six railway projects. Funded projects preserve
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  and modernize state's railway infrastructure. Governor Andy Basheer announced a
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  seven point five million dollar state investment for six Kentucky
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  railway projects to maintain and enhance existing infrastructure last week.
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  The projects were selected to best preserve and modernize the
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  state's rail system to retain and attract new business and
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  usher in more economic ey opportunity for Kentuckians. The grants
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  will fund the replacement and rehabilitation of over thirty miles
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  of rail renew an additional fifty three miles of track surface,
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  provide critical maintenance to a lift bridge, and replaced turnouts
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  and related components such as spikes, ties, cross ties, tie plates,
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  and rail anchors. Working together, we are strengthening our rail
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  system because when we improve the way we move people
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  and goods, we all win, said Governor Vasheer. These projects
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  will keep our railways running smoothly and safely for years
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  to come. The awarded projects were funded by the Kentucky
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  Short Line Infrastructure Preservation k SLIP Program. This is the
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  second time funds have been awarded from the program. The
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  last round, announced in November of twenty twenty four, provided
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  funds for eight Kentucky railway projects. The projects are reviewed
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  and recommend for funding by the Case SLIP Selection Committee,
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  which prioritizes applications based on criteria like enhancements to existing
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  rail lines, retaining existing or attracting new rail served industries,
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  and project readiness. Applicants provide a fifty percent match for
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  the project. Investing in multimodal infrastructure such as railroads is
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  an investment not just in transportation, but in our people,
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  say Kentucky Transportation Cabinet Secretary Jim Gray. Through this grant program,
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  we are creating more opportunities for Kentuckians. Paducah and Louisville
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  Railway pal is one of the three railway companies to
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  receive state dollars for this round of funding through the
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  Case Slip Program. Pal's one point nine million dollars Mayfield
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  Paducah Cross Tie rehabilitation project will renew fifty three miles
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  of mainline track. The funds will be used for materials only,
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  including fifty thousand new ties, two hundred seventy thousand spikes,
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  ten thousand tie plates, and twenty thousand rail anchors. In total,
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  the company received four million dollars for three critical projects
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  thanks to the Kentucky Short Line Infrastructure Preservation Case Slip grants.
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  Paducah and Louisville Railway is investing in safer, stronger rail
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  infrastructure to support economic growth and strengthen Kentucky's connection to
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  national and global markets, said Tom Green, president and CEO
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  of Paducah and Louisville Railway. P and L is honored
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  to receive the case Slip grants and is grateful to
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  Governor Basheer and the General Assembly for supporting the Case
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  Slip program. Governor Bashier has awarded over twenty four million
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  dollars in state grants to strengthen and support Kentucky's railway
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  infrastructure and the state's economy since beginning his second term
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  in twenty twenty four. The next article from the Lane
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  Report is titled v Simple moving Headquarters to Louisville, investing
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  five point one million dollars in creating one hundred ninety
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  four jobs. V Simple Incorporated, a rapidly growing business services
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  AI technology firm, will relocate its corporate headquarters to Louisville.
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  The move represents a five point one million dollar investment
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  and will create one hundred ninety four new, good paying jobs,
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  further reinforcing the city's standing as a leading destination for
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  innovation and high tech job growth. You can feel job
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  growth and economic development momentum as v Simple chooses Louisville
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  to make our city its new home, said Mayor Craig Greenberg.
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  This investment is a major win, not only for our economy,
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  but for the growing tech community, showing Louisville is the
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  best to do business and we have the talent, infrastructure,
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  and momentum to power the next generation of innovation. The
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  relocation is a result of collaboration between Louisville Metro government,
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  the Louisville Economic Development Alliance, leda the Kentucky Cabinet for
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  Economic Development, Ky Seed and v Simple's leadership. V Simple's
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  decision to relocate its headquarters to Louisville is a clear
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  signal that our city is becoming a magnet for fast
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  growing tech firms, said Louisville Economic Development Alliance CEO Trevor Paul.
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  With this investment in nearly twenty high quality jobs, they
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  are not only growing their own future, they're contributing to
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  ours too. We're excited to partner with v simple as
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  they scale, and we're proud to support them as part
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  of Louisville's expanding innovation economy. Founded in Louisville, in twenty twenty,
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  v simple moved its operations across the river to southern Indiana. Now,
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  the company is returning to its roots and investing in
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  a new headquarters facility on River Road in Louisville that
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  will open later this fall. This move is a commitment
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  to our mission of helping mid sized businesses in manufacturing, distribution, construction,
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  and professional services streamline their operations with the power of
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  AI and modern workflow automation. A v simple news release
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  states since our founding in twenty twenty, we've grown from
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  an ambitious startup to a trusted partner for organizations across
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  the US, helping teams simplify the complex and focus on
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  what matters most. Along the way, we've one raised multiple
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  multimillion dollar rounds, including a seven million dollars series A
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  earlier this year led by Silverton Partners. Two earned recognition
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  as a Kentucky inno startup to watch and inducted our CEO,
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  Buddy Bachweg into the Kentucky Entrepreneur Hall of Fame. And
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  three built a team that's passionate about innovation, customer success,
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  and making work simpler for everyone. This move to Louisville
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  positions us for our next phase of growth, right in
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  the heart of a vibrant and growing tech community. We're
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  grateful for the support from Mayor Craig Greenberg's office, Retender Capital,
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  and the entire Louisville business ecosystem as we make this
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  exciting transition. B Simple's return to Louisville comes at a
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  time of major growth for the company, which helps mid
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  to large sized companies eliminate operational inefficiencies through its AI
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  powered platform. The company's technology integrates systems, people and data
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  into one streamlined solution for better productivity and performance. Louisville
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  is where grit meets innovation, and that's exactly why we're
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  planting our flag here in the Commonwealth of Kentucky, said
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  Buddy bockweg be simple, CEO. We're not just relocating at headquarters.
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  We're rebuilding the future of work for the companies that move, make, build,
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  and service the world in a city that knows how
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  to roll up its sleeves, embrace change and lead. We'll
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  put Kentucky at the forefront of AI innovation and create
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  opportunity that impacts businesses, people, and communities for generations to come.
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  This announcement builds on a wave of momentum for Louisville's economy,
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  which has seen record investment and job creation in twenty
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  twenty five. B Simple joins a growing list of companies
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  including Ford Ge Appliances and Texas Roadhouse, choosing to expand
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  in Louisville as the city continues to attract talent, infrastructure,
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  and opportunity. Building a faster Kentucky for the future is
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  only possible if we create a diverse economy where every
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  industry has an opportunity to succeed, said Kentucky Governor Andy Basheer.
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  The Commonwealth's technology sector has seen tremendous growth in recent years.
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  In today's announcements add to this momentum. The creation of
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  nearly two hundred high wage job opportunities in a rapidly
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  growing career field is how we create meaningful change for
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  our communities. In Kentucky families, I want to thank fee
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  Simple for believing in what our great state has to
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  offer and officially welcome them to their new Kentucky home.
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  The next article from the Lane Report is titled UK
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  student helping build a better base for three D printed foods.
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  Bioprinting could be a new industry for Appalachia. Josephine traver
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  A Lewis Honor sophomore in Chemical Engineering at the University
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  of Kentucky Stanley and Karen Pigman College of Engineering, spent
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  her summer turning powders and non animal gums into something
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  that behaves like Jello and three D prints like it too.
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  She is working with the UK Martin Gatton College of Agriculture,
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  Food and Environment to hunt for a stand in for
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  animal gelatine, the go to bioink in many three D
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  food printers. I want a project that mixed sustainability and curiosity.
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  Traverse said, gelatin works great for printing, but it comes
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  from animals. I want to see if we can get
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  the same texture, structure and nutrition from plants instead, so
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  we used plant based and partially plant animal bases to
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  come up with a bioink that wasn't completely animal based.
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  Her approach is methodical. Sixteen ingredients including soy protein powder,
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  konjact root, guar, gum, tapioca starch, cornstarch, and some plant
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  animal combinations went through the exact same lab routine using
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  a rapid visco analyzer. That device heats and cools a
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  sample while stirring and measuring its thickness over thirty five minutes.
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  Gelatin has a standard profile already loaded in the instrument,
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  so Traver matched that cycle for every sample. Josie really
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  impressed me in her ability to excel in a very
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  difficult aspect of research, figuring out how to objectively screen
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  down a huge array of options to select a few
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  candidates for future study, said Travers. Mentor Assistant Professor Tyler
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  Barzi in the Department of Biosystems and Agricultural Engineering. This
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  work is part of UK's research Experiences for Undergraduates RAU,
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  supported by a four hundred eighty seven thousand dollars grant
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  from the US National Science Foundation. The REU brings undergraduate
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  students from across the country together to focus on addressing laws,
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  resource and engineering challenges facing the Appalachian region through research
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  and professional development. The twenty twenty five cohort had twelve
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  undergraduate participants from six universities. It also aligns with Barzi's
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  work combining microbiology and engineering to develop novel food products
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  and other bioproducts from agricultural and industrial byproducts. He's using
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  three D bioprinting technology in a project funded by nearly
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  two hundred and ninety five thousand dollars worth of grants
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  from the US Department of Agricultural's National Institute of Food
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  and Agriculture. It takes persistence, curiosity, organization, and a deep
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  dedication to the scientific method to pull that off in
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  such a short time frame, Barzie said, Josie certainly has
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  a bright future ahead of her as a scholar and researcher.
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  Traverse spread, she tells the rest of the story concentration,
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  final appearance, notes, and photos for every sample she knows
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  she needs duplicate runs to tighten the data, plus taste
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  tests to learn what real diners think. We narrowed the field.
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  Now the plan is mix and match ratios, repeat the
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  best ones, and make sure flavor and smell past the
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  sniff test. Literally, Trevers said, how does three D food
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  printing work? Much like a regular three D printer builds
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  plastic objects layer by layer, a food printer pushes out
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  edible mixtures called bio inks to create custom shapes. Instead
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  of melted plastic, the printer uses soft paste like materials
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  such as chocolate, mashed vegetables, or, in this case, plant
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  based and partial plant gels. A nozzle moves across the surface,
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  squeezing out thin layers of the material in a programmed pattern.
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  As the layers build up, they take on the shape
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  of a familiar food, like a burger patty or a
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  salmon filet. To make this work, the food bio ink
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  needs to be thick enough to hold its shape, but
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  soft enough to flow through the printer. That's where gelatine
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  usually comes in. When Traver puts the fluids into a
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  syringe and applies pressure with the printer, the fluids become
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  thinner and flow through the needle into precise shapes without
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  changing temperature. They are semi solid gels that briefly become
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  liquid when Traver applies pressure, and then solidify immediately after
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  depositing onto the printing space. This means she can stack
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  them up and create complicated and precise structures that hold up.
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  Traver said her challenge is to find plant based mix
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  that does the same job without using animal products and
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  bring it to those in eastern Kentucky. One of the
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  reasons this research was carried out was to introduce biotechnology
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  to Appalachia. Traver said because traditional industries such as coal
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  mining are in decline and unemployment as high, introducing emerging
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  technologies such as three D bioprinting can increase job growth.
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  Bringing more biotechnology, especially possible three D bioprinting facilities, could
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  serve as a catalyst for this employment growth. These facilities
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  can be used to deliver nutritious products to the community
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  of Appalachia and beyond. Traver said she chose chemical engineering
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  for its range, saying that it opens a lot of
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  doors as it concentrates on things such as energy, medicine,
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  and food. Traver plants to stay in the Barzi Lab
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  this fall. We've got a plant based blend that gels
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  like gelatine, Traver said. Now I want to make sure
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  it tastes good stores well and doesn't cost a fortune.
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  I'm excited to keep going. Our next article comes from
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  the August twenty seventh, twenty twenty five edition of Business
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  Lexington and is titled William Berkeley Distillery launches Burnt Tavern Bourbon.
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  William Berkeley Distillery is returning to production with the launch
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  of Burnt Tavern Bourbon, a new premium whiskey set to
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  debut on September first in central and northern Kentucky. The
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  seven year old Kentucky Straight Bourbon is bottled at one
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  hundred five proof and finished in two sets of slowly
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  toasted and charred barrels. The distillery said that the process
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  is designed to create layers of caramel, vanilla, oak, and
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  a subtle hint of smoke. Distribution is expected to expand
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  statewide later this year. Burnt Tavern doesn't follow trends. It
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  honors the history of the fire and the journey of
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  those who came before us. Each sip tells the story
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  of smoke, char and resilience for those who appreciate this low,
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  char and bold character of bourbon Burnt Tavern delivers, said
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  Bennett Clark, president of William Berkeley Distillery. The whisky was
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  developed with master distiller Chip Taate, known for his work
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  with wood finishing and founder of Texas based Balcone's Distilling.
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  I have a long and storied history of making whiskey
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  with fire and smoke. Wood smoke and its ability to
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  impart subtle and complex flavor to spirits has been a
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  part of my distilling journey from the early days. Burnt
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  Tavern Bourbon represents the intersection of classic Kentucky bourbon with
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  rich new layers of smoke and oak added by our
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  special finishing process, a new medley of classic American flavors,
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  Tate said. The Burnt Tavern brand references a tavern established
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  in seventeen ninety four along Zane's Trace in what is
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  now Gerard County, twice destroyed by fire. The tavern became
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  a local landmark before William Berkeley opened his distillery nearby
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  in eighteen sixty eight. The next article comes from the
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  September two, twenty twenty five edition of Here Lexington and
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  is titled Lexington Fayette's growing immigrant community. Lexington Fayette, Kentucky,
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  is home to a diverse and growing immigrant community, as
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  revealed by recent US since its Bureau data. In twenty
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  twenty three, the Lexington Fayette metro area reported a total
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  of approximately nine thousand, three hundred thirty five foreign born residents,
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  accounting for over twenty two percent of its overall population.
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  This underscores the significant role immigrants play in Kentucky's economy
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  and cultural landscape. According to National statistics, immigrants make up
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  about fifteen percent of the total US population, with many
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  Americans today tracing their ancestry back to immigrants from various countries.
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  Over the last few hundred years, the relationship between the
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  US and immigration has had its ups and downs, and
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  the nation has faced periods of backlash against certain ethnic groups,
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  including the Chinese, Irish, Italians, and Mexicans. These fluctuations and
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  sentiment are often fueled by targeted immigration laws that stoke intolerance.
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  Despite historical challenges, immigration has positively influenced areas such as business, art, food,
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  and entertainment in Lexington Fayette. The most recent five year
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  estimates reveal a range of foreign born residents that significantly
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  contribute to the area's economy and workforce. Demographics of foreign
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  born residents recent figures show a wide variety of foreign
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  born populations in the Lexington Fayette area. The data reveals
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  that numbers of immigrants from specific populations include one hundred
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  eleven residents zero point two six percent, one hundred twelve
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  residents zero point two six percent, one hundred eighteen residents
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  zero point two eight percent, two hundred residents zero point
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  five percent, three hundred residents zero point seven three percent,
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  nine hundred residents two point one two percent, one thousand,
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  nine hundred six residents four point five percent, and nine thousand,
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  three hundred thirty five residents twenty two point zero two percent.
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  This diversity signifies a complex tapestry of cultures and ethnicities
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  that enrich the community. Current immigration issues among the immigrant
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  community is a Central Kentucky mother, Teresa, whose family currently
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  faces the precarious nature of immigration system. Currently in the
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  ATD ISAP alternatives to Detention Intensive Supervision Appearance program, she
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  is under GPS monitoring systems as she awaits the outcome
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  of her asylum case. This program monitors individuals more closely
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  than previous systems, reflecting the increasing surveillance immigrants face nationwide,
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  Approximately one hundred seventy nine thousand individuals are currently enrolled
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  in the ATD ISAP program. Meantime, reports estimate that around
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  fifty two thousand, nine hundred undocumented individuals reside in Kentucky.
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  These individuals contribute significantly to the state's economy, with estimates
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  indicating that they generate around eight thousand, eight hundred thirty
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  one million dollars and contribute to two hundred and thirty
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  three million dollars in taxes annually. Despite contributing significantly to
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  Kentucky's economy, the undocumented population often lives under the shadow
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  of fear due to misconceptions surrounding ice, immigration and customs
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  enforcement raids, leading to increased anxiety within the community. Community resources.
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  The Neighbour's Immigration Clinic is among the resources available for
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  immigrants seeking legal assistance. This organization emphasizes the human aspect
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  of immigration, focusing on helping those in need navigate the
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  complexities and struggles of the immigration process. Conclusion, as the
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  immigrant community continues to grow in the Lexington Fayette area,
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  ongoing discussions about immigration policies and community resources will play
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  a crucial role in shaping the future of these individuals
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  and their contributions to society. Our next article comes from
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  the August twenty eighth, twenty twenty five edition of the
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  Louisville Courier Journal and is titled Jack Daniel's parent company,
• 22:59
  Brown Forma reports sales decreases amid geopolitical volatility, written by
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  Olivia Evans, Louisville based Brown Foreman reported decreased sales for
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  its first quarter fiscal year twenty twenty six results during
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  its August twenty eighth earnings call, citing a challenging economic
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  environment as new US tariffs continued to disrupt global markets
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  and consumers keep turning away from alcohol. The first quarter,
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  which ended on July thirty, first, saw a net sale
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  decrease of three percent for the company when compared to
• 23:36
  the same period for prior fiscal year. Company officials also
• 23:41
  noted operating income decreased roughly seven percent and its diluted
• 23:46
  earnings per share dropped thirteen percent. Despite the across the
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  board drop for the company, Brown Foreman President and CEO
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  loss And Whiting called the performance a solid first quarter,
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  especially when factoring in the challenging environment. Overall, I'm pleased
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  with the start of our year, Whiting said. The company,
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  which makes brands including Jack Daniels, Woodford Reserve, and Old Forrester,
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  noted it saw a significant decrease in some of its
• 24:16
  developed markets. In Europe, Whiting said consumer sentiment and confidence
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  remain pressured. Germany saw a thirteen percent decrease in organic
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  net sales, and the United Kingdom experienced a sixteen percent
• 24:30
  decrease in organic net sales. Whiting said the European slowdown
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  was due to economic conditions remain challenging for consumers and
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  tariff uncertainty caused disruptions in ordering patterns from retailers, which
• 24:45
  negatively impacted the year over year trends. The Canadian market
• 24:50
  also continues to prove challenging for Brown Foreman in the
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  age of growing tariffs. Whiting said Canada's organic net sales
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  declined almost sixty in the first quarter of fiscal year
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  twenty six. While Canadian government officials recently announced they would
• 25:07
  remove retaliatory tariffs from products including US alcohol, some provinces
• 25:13
  continue to boycott US products from its retail shelves. We
• 25:17
  remain optimistic based on recent developments related to tariffs under
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  the United States Mexico Canada agreement. Whiting said despite some
• 25:26
  of the geographic declines hitting the distiller, Brown Foreman saw
• 25:31
  some brand specific success. Whiting said Jack Daniels, Tennessee Whiskey
• 25:36
  saw growth and value share in some markets, especially with
• 25:40
  the successful launch of the new BlackBerry product. Super Premium
• 25:44
  brands like Gentleman, Jack and Diplomatico saw double digit growth,
• 25:50
  and l Jimidore Tequila continue to be a bright spot
• 25:55
  in the competitive global tequila market. Brown Foreman, Executive vice
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  president and CFO Leanne Cunningham, said the company anticipates seeing
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  some growth in emerging markets such as Brazil and Turkey
• 26:10
  throughout fiscal year twenty six, while continuing to see depletion
• 26:14
  of developed markets due to geopolitical volatility and headwinds from
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  consumer uncertainty and the potential impact from currently unknown tariffs.
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  The next article from The Courier Journal is titled Spirit
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  Airlines files for bankruptcy again with eight billion dollars in debt,
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  written by Courtney Danielle Moore. Spirit Airlines has filed for
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  Chapter eleven bankruptcy protection for the second time in less
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  than a year, five and a half months after it
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  emerged from the last restructuring attempt. The Danielle Beach, Florida
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  based carrier and its parent company, Spirit Aviation Holdings, submitted
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  voluntary petitions on August twenty ninth in the US Bankruptcy
• 26:57
  Court for the Southern District of New York. According to
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  court filings, Spirit listed assets of about eight point five
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  eight billion dollars in liability of about eight point one
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  billion dollars as of June thirtieth. Frederick Cromer, executive vice
• 27:12
  president and chief financial officer, signed the petition on behalf
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  of the airline as an authorized signatory. Spirit's petition indicates
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  its largest unsecured creditor is the US Department of the Treasury,
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  owed one hundred thirty six million dollars. Other top unsecured
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  creditors include Knoxville based Charles Tombras Advertising ode seven point
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  eight million dollars and Luftanza Technic, a German maintenance, repair
• 27:39
  and overhaul company, owed five point seven million dollars. Spirit
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  Airlines operates several flights out of the Louisville Muhammad Ali
• 27:48
  International Airport. In March, just after emerging from a previous bankruptcy,
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  we reported that it had resumed NonStop flights from Louisville
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  to Los Angeles and added four new direct routes. This
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  concludes the reading of the most recent business news in Lexington, Louisville,
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  and around the state. Your reader today has been Julia Shane.
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  If you have any questions or comments about this program,
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  please give our Lexington Studios a call at eight five
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  nine four two two six three nine zero. Thanks for listening,
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  and now please stay tuned for readings from the Kentucky
• 28:22
  series here on Radio I