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2.26.26 · 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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  February twenty fourth to twenty twenty six edition of The
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  Lane Report and is titled Housing Can't Wait. For forty
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  five years, FAY has strengthened rural communities by expanding access
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  to safe affordable housing. Written by Hannah Stanley. For the
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  last forty five years, FAY has been tackling poverty across
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  Appalachia through the focus of one Basic Need Housing. Operating
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  under the belief that safe affordable housing is essential to
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  strong communities, education, health, and economic mobility, the nonprofit works
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  to deliver accessible housing solutions across the region. FAYE empowers
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  struggling regions by creating pathways to stronger, more resilient communities
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  in overlooked areas to help relieve the financial pressure on
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  proposed developments. The organization operates as a financial intermediary for
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  nonprofits and partners, helping move projects from concept to execution
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  by providing capital development, policy advocacy, lending, technical assistance, and
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  network coordination. FA serves as a catalyst for Kentucky based
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  organizations expanding access to partnerships and financing they may not
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  have been able to secure on their own, rather than
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  replacing or diminishing their work. With a vision to improve
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  the quality of life and opportunities in Appalachia, FA has
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  invested over five billion dollars since nineteen eighty with the
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  help of their community partners and members, leading with their
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  guiding principle of strength in numbers. Since its inception, FA
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  has grown to a network of more more than fifty
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  locally led nonprofits operating in Kentucky, Tennessee, Virginia, West Virginia, Maryland,
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  and Alabama. In addition to its community development work and
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  endeavors to build affordable housing, FAB plays a role in
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  disaster recovery by partnering with local nonprofits and Team Kentucky
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  to provide safe, permanent housing outside of floodplains to help
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  support residents affected by natural disasters across the state. History
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  founded in nineteen eighty as a regional housing organization, FAA
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  soon realized that access to affordable housing was a major
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  obstacle across Kentucky, especially in Appalachia. In response, the organization
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  shifted its focus toward advancing the region and supporting its
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  most vulnerable communities. An office was created in Berea, where
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  FAB began to tackle the housing challenge and build local
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  ties through connections with Burrie College and Human Economic Apalachian Development,
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  even sharing locations. At one point. Fifteen years later, the
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  organization became a federally certified Community Development Financial Institution CDFI,
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  gaining new resources and authority that enabled THAW to invest
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  in overlooked markets, a focus it continues today. Meeting the challenge, though,
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  is operating in a challenging environment where limited resources and
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  rising demand collide at a critical point for affordable housing.
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  As costs increase and the pace of development becomes nearly
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  impossible to sustain, rural communities are faced with a limited
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  housing supply. According to the nonprofit PAS, analysis of the
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  financial and policy systems supporting the housing market shows that
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  existing data trends and planning frameworks favor urban development over
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  rural constructions. Old funding timelines, underwriting standards, and regulatory processes
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  often move more slowly than the needs of communities experiencing
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  housing instability. To address those challenges, THA focuses on shared
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  solutions among state leaders, flexible capital, and local expertise to
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  help solve Appalachia's housing crisis. THAW is leading a five
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  year effort to double housing production by twenty thirty through
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  its Housing Can't Wait campaign. To meet growing demand, the
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  organization is seeking strategic partners and flexible funding to speed solutions,
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  whether its disaster relief, new developments, or expanding home ownership.
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  The next article from the LANE Report is titled The
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  Benefits Balancing Act. Kentucky Businesses are juggling affordability, regulation and
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  employee demands in a fast changing market. Written by Kevin Ostennett.
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  Kentucky employers are entering twenty twenty six amid a rapidly
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  changing employee benefits environment, defined by rising health care costs,
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  expanding leave mandates, and increased pressure to modernize benefit offerings
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  in order to compete for talent. According to the twenty
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  twenty six Employee Benefits Market Outlook from end Zone insurance
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  organizations across the Commonwealth, particularly those operating in manufacturing, logistics, healthcare,
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  and professional services will need to balance affordability, compliance, and
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  workforce expectations as benefits strategies grow more complex. Rising health
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  care costs. Health care affordability remains one of the most
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  pressing concerns for Kentucky businesses. National projections indicate healthcare costs
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  will rise between six point five percent and ten percent
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  in twenty twenty six, a trend expected to impact small
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  and mid sized employees throughout the state. Employers in Kentucky
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  are increasingly affected by higher utilization of specialty medications, including
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  GLP on weight loss drugs, and cancer therapies. These treatments,
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  while clinically effective, carry significant long term costs that can
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  disrupt annual health plan budgets, especially for employers with smaller
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  risk pools. In addition, Kentucky's aging workforce and persistent health
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  care labour shortages are contributing to rising provider costs that
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  are ultimately passed through to the employer sponsored plans. Employers
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  are encouraged to explore targeted cost containment strategies, including specialty
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  pharmacy management, chronic disease prevention programs, and more transparent communication
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  with employees about benefit changes compliance challenges while Simplified Affordable
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  Care Act ACA reporting may reduce some administrative burden, the
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  overall compliance environment remains uncertain. Kentucky employers, particularly those with
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  employees in neighboring states, must navigate varying leave laws, ongoing
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  health plan litigation, and shifting federal enforcement priorities. Mental health
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  parity compliance remains an area to monitor closely as federal
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  agencies reassess enforcement approaches. Employers are also advised to review
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  fiduciary practices under the Employee Retirement Income Security Act ERISA,
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  particularly related to pharmacy Benefit manager oversight, an area drawing
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  increased legal scrutiny. Nationwide, health care transparency remains a federal focus.
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  In twenty twenty six, employers should confirm that insurers and
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  third party administrators are meeting required disclosure obligations and clearly
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  outlining responsibilities and service agreements. New laws, new opportunity, andes.
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  The One Big Beautiful Bill Act, signed into law in
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  July of twenty twenty five, introduces several benefit changes that
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  Kentucky employers can leverage in twenty twenty six. These include
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  permanent flexibility for telehealth coverage under HSA eligible health plans
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  expanded dependent care, flexible spending account limits, and enhance student
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  loan assistance programs. For Kentucky employers facing workforce competition from
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  neighboring states, these provisions offer new ways to strengthen recruitment
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  and retention, particularly for younger workers and working families. Expanded
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  childcare tax credits may also appeal to employers seeking to
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  support working parents amid ongoing labor shortages. Paid leave laws
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  continue to expand at the state level across the country.
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  While Kentucky does not currently have a statewide paid family
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  and medical leave mandate, employers with operations in multiple states
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  must remain vigilant as neighboring jurisdictions adopt or expand paid
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  sick and family lead requirements. Student loan assistance is also
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  emerging as a key differentiator for employers across the Commonwealth.
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  Permanent extensions, allowing employers to help pay down student debt
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  and to link student loan payments with retirement plan matching contributions,
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  are becoming popular signs of burnout or disengagement. At the
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  same time, concerns about job displacement remain, particularly in administrative
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  and support roles. The report emphasizes that employers who adopt
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  AI responsibly while investing in workforce upskilling and transparent communication,
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  will be better positioned to realize long term productivity gains.
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  The need for proactive planning the benefits market signals a
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  year of continued transformation for Kentucky employers. Rising costs, regulatory uncertainty,
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  and of volving workforce expectations will require proactive planning and
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  strategic benefit design. By staying informed, monitoring multi state compliance developments,
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  and working closely with trusted advisors, Kentucky businesses can position
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  their benefit programs to remain compliant, competitive, and aligned with
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  employee needs in twenty twenty six and beyond. The next
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  article from the Lane Report is titled Business Likes Kentucky,
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  but Consumers cautious. First half of twenty twenty six should
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  see solid growth, but inflation fears could resurface later in
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  the year. Written by ersang Ling, Kentucky is positioned to
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  grow on par with the nation in twenty twenty six,
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  though near term labor market weakness remains a downside risk.
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  Kentucky's economy has trailed the US over the past two
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  and a half years, due largely to the state's heavy
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  concentration in automobile manufacturing, which is softened as a result
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  of high interest rates. Real gross domestic product GDP grew
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  just zero point nine percent year over year in the
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  second quarter of twenty twenty five, latest data available, compared
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  with a solid two percent nationally. Job growth in Kentucky
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  slowed in line with the nations in twenty twenty five
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  and remained slightly below the national average. The Kentucky unemployment
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  rate fell in twenty twenty five, although at four point
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  seven percent in November, it remained somewhat above the national
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  rate of four point five percent. Kentucky economic growth is
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  expected to cool this year under continued high interest rates,
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  significant layoffs in the government sector, and slower consumer spending
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  growth nationally. Even so, several bright spots helped sustain growth
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  in the state. Construction employment expanded by seven percent in
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  twenty twenty five, far above the zero point five percent
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  national increase. Office using employment, including professional business services, finance,
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  and information, accounts for more than fifteen percent of total
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  employment and strengthened at the end of twenty twenty five
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  after two years of declines that had weighed on the
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  broader service providing sector. Total employment in Kentucky continued to
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  edge up, rising around zero point five percent in November
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  of twenty twenty five from a year earlier. In the
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  housing market, price appreciation has slowed as high mortgage rates
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  remain a drag on home buying, but with continued job
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  gains and house prices that are more affordable than those nationally,
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  there has been a modest improvement in existing home sales
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  in Kentucky. Sale prices for existing homes in Kentucky were
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  up about four percent in the third quarter of twenty
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  twenty five from a year earlier, compared to two percent nationally.
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  Positive migration flows and slightly lower mortgage rates should sustain
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  housing demand in Kentucky in twenty twenty six. Economic growth
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  in Kentucky and the state's labor market will continue to
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  cool this year. The state's two largest metro areas, Louisville
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  and Lexington Fayette, still face headwinds from a softening US
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  labour market, slower growth in consumer spending, and fiscal changes
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  that could weigh on auto manufacturing, retail sales, and housing.
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  P and C expects both US and Kentucky economic growth
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  to slow in twenty twenty six. The manufacturing sector, particularly autos,
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  will likely remain subdued as cautious consumers pull back on
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  big ticket purchases, a mid week sentiment, slower wage growth,
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  and a softer labour market. However, the state should avoid
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  recession with easing credit conditions and additional monetary policy easing
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  from the Federal Reserve lower interest rates this year, unless
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  trade uncertainty should lead major Kentucky employers to move forward
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  with consumer driven investments. Near term, labor market softness remains
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  a risk for Kentucky in twenty twenty six, but trade
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  uncertainty has diminished and small business optimism has strengthened. Kentucky's
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  relatively strong population growth. Affordable business environment and competitive costs
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  should continue to bolster housing demand and attract small and
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  mid sized firms as well as major corporate investment over
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  the long term. The next article from the Lane Report
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  is titled What will Happen to the Bourbon Industry in
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  twenty twenty six? Written by Kevin O. Stennett. As we
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  move forward into twenty twenty six, the bourbon world finds
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  itself at a crossroads. After more than a decade of
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  explosive growth and near constant scarcity on shelves, the industry
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  is entering a period of recalibration, creativity, and consumer driven change.
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  Here's what bourbon enthusiasts, from casual sippers to serious collectors
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  should expect this year market shift. After years of rapid expansion,
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  the bourbon boom has moderated. Massive inventories, particularly here in Kentucky,
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  which now has over sixteen million barrels aging in rick houses,
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  have shifted the narrative from shortage to oversupply. Major producers
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  are responding accordingly. Jim Beam is pursuing production at its
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  flagship Claremont distillery for all of twenty twenty six to
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  better align output with demand and invest in facility upgrades.
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  The industry as a whole is embracing more disciplined production,
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  aiming to harmonize supply with actual consumption trends. This trend
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  should bring fewer panic by shortages and more stability on shelves,
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  with some previously allocated bottles potentially becoming more accessible. Pricing
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  and value. High inflation and sky high collector prices marked
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  much of the past decade, but twenty twenty six is
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  beginning to fuel more value orientedles in the thirty dollars
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  to seventy dollars. Range are gaining renewed attention as consumers
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  drink more thoughtfully rather than chasing hype. Premiumization isn't dead,
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  but it must now be justified. Consumers want real reasons
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  for price jumps, such as age statements, provenance, and meaningful
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  craft credentials, not merely prestige. Expect limited editions to survive,
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  but with a sharper focus on quality over scarcity. Theater
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  What's coming to shelves in twenty twenty six Collectors and
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  enthusiasts have some exciting releases to look forward to, especially
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  in the ultra aged and rare category. Four Roses Potential
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  twenty one year Anthology Origin Bourbon, possibly the oldest four
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  roses ever bottled. Blade in Bow's thirty year Bourbon, an
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  extraordinary age statement that's almost unheard of in this category.
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  Special expressions from heaven Hill and others hints at a
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  collaborative or blend masterpiece, pushing creative boundaries. While some releases
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  remain speculative until official announcements, twenty twenty six promises rare
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  bottles that will make collectors' hearts flutter. Barrel trends barrels
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  continue to shape Bourbon's evolution, both literally and economically used.
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  Bourbon barrels are in demand not just for spirits, but
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  across brewing, craft, distilling, and even food and beverage sectors,
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  driven by sustainability and heritage appeal. Finishing techniques aren't disappearing,
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  they're getting more thoughtful. Novel cask types like rum and
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  wine will still be used, but with greater intention and transparency.
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  As warehouses juggle huge inventories, suppliers and cooperatives are adapting
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  to meet global barrel demand with tighter quality controls. In essence,
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  barrels are evolving from marketing tools to taste design instruments
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  in the secondary barrel market itself is a story worth watching.
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  Whiskey Styles twenty twenty six isn't just about bourbon. It's
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  about diversification within American whisky. American single malt continues gaining
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  traction as a distinct category with increasing recognition and quality.
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  Rye whiskys renaissance broadens with innovative mash bills and hybrid
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  styles expanding beyond the classic spicy profile. Blending, once seen
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  as utilitarian, is now a craft discipline, with brands turning
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  sophisticated blends into their signature offerings. This variety gives drinkers
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  more ways to explore and appreciate American whisky outside traditional
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  bourbon formats, consumer habits, and cultural shifts. The way people
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  drink bourbon is changing. Slowing overall alcohol consumption, notably among
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  younger adults, is affecting demand. Sessionable, lower proof products are
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  growing alongside high proof. Enthusiast releases. Mindful drinking culture, and
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  wellness trends mean consumers are choosing quality over quantity. Expect
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  bourbon brands to respond with clearer, purpose built offerings, whether
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  for cocktails, contemplative sipping, or special occasions. A smarter bourbon
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  world twenty twenty six isn't a year of collapse. It's
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  a year of maturation. The industry is shedding the narrative
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  of endless boom and instead embracing balance, creativity, and responsiveness
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  to what modern drinkers really want. From stable pricing and
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  intelligent production to unique releases and evolving beryl science, Bourbon's
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  future looks thoughtful, flavorful, and full of stories worth sipping.
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  Our next article comes from the February twenty first, twenty
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  twenty six edition of the Louisville Courier Journal and is
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  titled Louisville Community's Choice Award Spotlight gust Mexican Grill. Gustavo's
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  Mexican Grill is a locally grown restaurant group bringing Mexican
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  flavors to dinners across the Louisville area. With locations in Prospect, Crestwood,
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  and Lagrange, guests find a mix of familiar combination plates
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  and house specialties, all served in colorful dining rooms that
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  lean into lively social atmospheres. Under the leadership of owner
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  Gustavo Rays, the restaurant has expanded steadily since opening its
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  first Crestwood location in twenty ten. Its presence in the
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  Louisville Community Choice Awards reflects how often area residents turned
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  to Gustavos for casual dinners, celebrations, and night outs with friends.
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  A celebration of community driven recognition, the Louisville Community Choice
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  Awards gives Courier Journal readers the chance of spotlight businesses
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  they rely on and enjoy throughout the year. Categories encompass
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  food and drink services, retail, and more, showcasing the breadth
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  of options across the metro through an online process. Community
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  members nominate their favorite establishments and then vote on finalists
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  in each category. The twenty twenty six nomination round opened
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  in February, with voting starting in April. Mexican Flavors with
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  a twist, Gustavo's menu goes beyond standard tacos and burritos,
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  featuring dishes such as Jalipino margaritas, Aloha fajidas, and three
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  Pigs fajidas, alongside more traditional enchiladas, fajidas and seafood plates.
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  The kitchens emphasize fresh ingredients and generous portions, with options
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  including vegetarian plates and seafood specialties. Each location is designed
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  with a festive, slightly upscale feel, from the bar programs
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  with an extensive tequila selection to patios that encourage lingering
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  over chips and salsa. With multiple sites across Louisville's northeastern suburbs,
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  Gustavos offers several convenient places to gather for week night meals,
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  business lunches, or weekend celebrations. What customers Are Saying. Gustavo's
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  Mexican grill locations earned strong ratings on yelp, where diners
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  frequently praised the flavorful food, upbeat atmosphere, and attentive service.
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  We enjoyed all of the flavors. Both entrees were absolutely delicious,
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  set one yell review. This is good American Mexican food,
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  dependable fresh. I have not tried anything on the menu
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  that did not come out great, said another Yelp reviewer.
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  Overall great atmosphere and food. Service was very quick, as
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  the servers seemed to be everywhere, said another Yelp reviewer.
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  Location and contact multiple locations in the Louisville area, including
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  Hurstbourne at four zero one South Hurstbourne Parkway in Louisville,
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  in Lagrange at one two two six Market Street, Norton
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  Commons at one zero seven to one five Meeting Street
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  in Louisville. The next article from the Courier Journal is
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  titled Who's behind the millions being spent in Massey gallerin
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  GOP primary, written by Jolene Almrendez. Thousands of out of
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  state donors, a handful of Kentuckians and at least four billionaires.
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  That's who's pouring money into what's arguably become one of
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  the most watched congressional primaries in the country this year.
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  If the political power and influence of President Donald Trump
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  pulls firm and the political donations keep coming that could
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  help Trump back GOP congressional hopeful Ed Galleran unseat US
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  Representative Thomas Massey, a Garrison Republican. The pack that invested
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  millions against Massey in twenty twenty five, two political action
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  committees invested nearly four million dollars in the Northern Kentucky race,
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  where both Massey and Galleran had the backing of billionaires.
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  Maga k Y, a pro galleryan Trump connected pack, raised
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  two point seventy five million dollars last year. It's funded
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  in part by two billionaires East Coast Hedge Fund managers
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  Paul Elliot Singer and John Alfred Paulson. Singer contributed one
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  million dollars to the pack last summer. The conservative political
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  donor also donated roughly eight million dollars to packs to
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  get Trump elected in twenty twenty four, according to news reports.
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  Paulson is a former Trump economic advisor who helped raise
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  more than fifty million dollars for him in twenty twenty four.
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  News organizations reported he donated two hundred fifty thousand dollars
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  to Maga KY last summer. Paulson's name is also mentioned
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  in the Epstein files, although not in a way that
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  indicates he had a close relationship with Epstein. The Preserve
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  America Pack donated seven hundred fifty thousand dollars to Maga Nky,
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  the main funder behind that billionaire Miriam Adelson, a Republican
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  mega donor who invested one hundred and six million dollars
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  in Preserve America Pack in twenty twenty four. Massey had
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  been pushing for full release of information about now deceased
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  convicted sex felon Jeffrey Epstein for months on social media.
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  Massey wrote, within hours of the Epstein file release, a
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  super pack funded by Israel First billionaires Miriam Adelson, Paul Singer,
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  and John Paulson, who himself appears in Epstein's Black Book,
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  bought another eight hundred thousand dollars of TV ads against me.
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  I'll still win, but if I lose, it was worth it.
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  The multi billionaire who supports Massey a pro Massy Pack,
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  is also a player in Kentucky's political fray. The Kentucky
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  First Pack raised over one point one million dollars last year,
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  most of that money just over one million is from
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  the Protect Freedom Political Action Committee, a libertarian leading group
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  founded by former staffers of US Senator Rand Paul, a
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  Kentucky Republican, and his father, former US Representative Ron Paul,
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  a Texas Republican. Its primary funder is Pennsylvania based multi
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  billionaire Jeff Yass, a businessman and TikTok investor, who donated
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  seven point five million dollars to the Protect Freedom Pack
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  last year. A person named Abby Aldrich also donated one
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  hundred thousand dollars to the Kentucky First Pack. Little identifying
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  information could be found about her online political allies kick
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  In for Massey. Massey also received ten thousand dollars worth
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  of donations from former or current Republican political allies. Last year.
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  US Representative Jim Jordan's campaign committee donated the most, a
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  total of four thousand dollars. Jordan is a nearly twenty
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  year incumbent who represents just over eight hundred ten thousand
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  people north of Columbus campaign donated two thousand dollars toward
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  Massey's re election. Paul is a libertarian leaning Republican who
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  has been a close political and personal ally with Massey
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  for years, even attending Massey's wedding last fall. Former US
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  Representative Jimmy Duncan of Tennessee and US Representative Eric Bertelson
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  of Missouri both donated two thousand dollars via their campaign committees.
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  Ed Galleran is a former Navy seal and fifth generation
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  farmer from Shelbyville, Kentucky. He first ran for office in
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  twenty twenty four, when he lost a bid for state
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  Senate against Aaron Reed by about one percent of the vote.
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  He graduated from Murray State before becoming a seal officer
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  for over thirty decades. Thomas Massey is a libertarian leaning
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  Republican who took office in twenty twelve and has easily
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  won reelection in every race since then. The fifty five
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  year old MIT graduate owns a one thousand acre farm
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  and apple and peach orchard in Garrison. This concludes the
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  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
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  series here on Radio I