Latest / Kentucky Business News / 1.29.26

Transcript

1.29.26 · Kentucky Business News

• 0:00
  Speaker 1: Hello. Today, I'll be reading from business sources in Lexington
• 0:04
  and Louisville, including The Lane Report and others from around
• 0:07
  the Commonwealth. Your reader today is Julia Shane. As a reminder,
• 0:12
  RADIOI is a reading service intended for people who are
• 0:15
  blind or who have other disabilities that make it difficult
• 0:18
  to reprinted material. Our first article comes from the January
• 0:23
  twenty seventh, twenty twenty sixth edition of The Lane Report
• 0:26
  and is titled Valveleen Instant Oil Change is Number one
• 0:31
  Automotive services retailer in Franchise five hundred. Valveline has again
• 0:36
  been named the number one automotive services retailer in Entrepreneur
• 0:40
  Magazines Franchise five hundred, marking the fourth consecutive year the
• 0:45
  brand has led its category. Balvelein Incorporated continues to demonstrate
• 0:50
  strong performance among all franchise brands, earning an overall ranking
• 0:55
  of number thirty two, reflecting continued momentum across growth performance
• 1:00
  and brand strength. Consistently earning the top ranking in our
• 1:05
  industry speaks to the strength of our franchise model and
• 1:08
  the people behind it, said Lori Flees, President and CEO
• 1:12
  of Valveleen Incorporated. Our franchisees have always played a critical
• 1:17
  role in our success, and this recognition reflects the trust, collaboration,
• 1:22
  and growth we have built together across our system. Approximately
• 1:26
  half of Valvelene Incorporative's preventive automotive maintenance service centers are
• 1:32
  operated by franchisees, with continued expansion planned across the US
• 1:37
  and Canada. The company remains focused on delivering quick, easy,
• 1:41
  trusted service while providing franchisees a wide range of support
• 1:46
  including operational excellence, marketing, market development and training. This recognition
• 1:54
  reinforces the value of our franchise system and the opportunity
• 1:58
  aheads at Adam Worsham, chief Franchising Officer at Valveleen Incorporated,
• 2:04
  we are committed to supporting franchisees as we grow together
• 2:07
  and bring Valvelene instant oil change to even more communities.
• 2:12
  The Entrepreneur Franchise five hundred evaluates franchise brands across factors
• 2:17
  such as growth, trajectory, support, brand strength, and financial stability.
• 2:24
  Rankings are published in the magazine's January twenty twenty sixth edition.
• 2:28
  Valvelein Incorporated delivers more than thirty million services annually at
• 2:33
  more than two thousand three hundred franchised and company operated
• 2:37
  service centers across the United States and Canada with thirteen
• 2:42
  thousand team members. The next article from the LAT report
• 2:45
  is titled b NKY reports its fifteen wins landed one
• 2:51
  nine hundred and fourteen jobs and four hundred twenty five
• 2:54
  million dollars in investment in twenty twenty five. B NKY
• 2:59
  Growth Partnership continued to showcase the Northern Kentucky region in
• 3:03
  twenty twenty five, highlighting the community's many assets that make
• 3:08
  it a desirable home for companies looking to locate or
• 3:11
  expand their business. B NK wise pushed for a strong
• 3:15
  finish to the year in the face of global economic uncertainties.
• 3:20
  Resulted in fifteen project wins one nine hundred fourteen jobs
• 3:26
  and four hundred twenty five point five million dollars in
• 3:29
  capital investment were announced, with an average annual total compensation
• 3:34
  of seventy three thousand, four hundred thirty three dollars. The
• 3:38
  advanced manufacturing sector led project wins announced jobs and capital investment,
• 3:44
  and eleven of the fifteen project winds are from existing
• 3:48
  Northern Kentucky companies choosing to reinvest in the community. I
• 3:52
  am so proud. Our team surpassed our job metric by
• 3:55
  six percent and came incredibly close to hitting our targets
• 3:59
  in a year uncertainty, said b NKY Vice President of
• 4:03
  Economic Development Kimberly Russetti. We are entering the new year
• 4:08
  with incredible momentum and our team looks forward to bringing
• 4:11
  even more prosperity to our region in twenty twenty six.
• 4:16
  For every two jobs b NKY announced in twenty twenty five,
• 4:20
  an additional three jobs were generated in the community, and
• 4:24
  the fifteen Project WINS resulted in fifty three million dollars
• 4:28
  in local economic impact for Northern Kentucky's cities and counties.
• 4:33
  B NKY also took steps to improve Northern Kentucky's economy
• 4:37
  and workforce development beyond Project wins K through twelve Career
• 4:43
  Path Exposure, Exploration and Engagement. In May, b KY led
• 4:49
  an initiative to generate funding for three local education nonprofit organizations,
• 4:55
  Adopt a Class, Trades in Ky and Learning Groves, NAT
• 5:00
  College and Career Prep. B NKY invested a total of
• 5:05
  four hundred and forty thousand dollars into these organizations and
• 5:08
  partnered with Educate Inky and the Spirit of Construction Foundation
• 5:14
  to secure a further four hundred twenty thousand dollars in funding.
• 5:19
  BNKY also organized an Adopt a Class team that volunteers
• 5:23
  once a month in a Covington's second grade classroom, ensuring
• 5:27
  students of all ages are aware of the many career
• 5:30
  opportunities available to them in Northern Kentucky. Studies focus on
• 5:36
  entrepreneurship impact Northern Kentucky's target industries. In September, b NKY,
• 5:43
  in partnership with Blue North, the Kentucky Innovation Hub for
• 5:47
  Northern Kentucky, released an analysis by the economic and community
• 5:51
  development consulting company TPMA evaluating the current entrepreneurial ecosystem and
• 5:58
  its economic impact on the region. The one eight hundred
• 6:02
  seventy businesses identified in this study generate more than seven
• 6:07
  billion dollars in earnings and nearly eight hundred million dollars
• 6:10
  in state income taxes and total taxes on production and
• 6:14
  imports at the local, state, and federal level. The release
• 6:19
  of this study coincided with the grand opening of Sparks Hoss,
• 6:23
  Northern Kentucky's new home for entrepreneurs. B NKY partnered with
• 6:29
  Ernst and Young for a second time to evaluate the
• 6:32
  industry sectors most likely to provide the Northern Kentucky region
• 6:36
  with a high growth economy driven by high quality jobs.
• 6:40
  The report will be released to the community on January
• 6:43
  thirtieth at the twenty twenty six Annual Forum Preparing Northern
• 6:49
  Kentucky for Growth and Corporate Investment. B Inky's impact on
• 6:54
  the Northern Kentucky region was featured in a series of
• 6:57
  growth articles in link in Ky in twenty twenty five.
• 7:02
  These articles highlighted b Inky's work aggressively marketing Northern Kentucky
• 7:08
  and working with partners at the national, state and local
• 7:12
  levels to prepare sites for development so they are poised
• 7:15
  to welcome new companies that will make a long lasting
• 7:19
  impact on the region. Northern Kentucky Port Authority One Inky
• 7:25
  Center Spark House CCBE. Twenty twenty five was an incredibly
• 7:30
  successful year for Northern Kentucky Port Authority, an organization thriving
• 7:35
  under the leadership of b NKY. Two new buildings that
• 7:39
  will serve Northern Kentucky's entrepreneurial growth and life sciences communities
• 7:45
  for decades celebrated grand openings in September. The one Inky
• 7:50
  Center brings together ten northern Kentucky growth organizations and a
• 7:55
  lab incubator run by Life Side Ky into one build
• 8:00
  allowing for increased collaboration among these organizations. Northern Kentucky's startups,
• 8:07
  business mentors, and venture capitalists are also gathered under one
• 8:11
  roof for the first time at Sparkhouse, Northern Kentucky's new
• 8:15
  home for entrepreneurship. Representatives for the Commonwealth Center for Biomedical
• 8:21
  Excellence also chose a one point eight nine acre site
• 8:26
  in downtown Covington to be the future home of the
• 8:29
  Northern Kentucky University's Salmon P. Chase College of Law and
• 8:34
  the University of Kentucky College of Medicine's Northern Kentucky Campus.
• 8:39
  From grand openings of new buildings and new businesses including
• 8:44
  L two Aviation and Bakery Express Midwest, to honoring companies
• 8:49
  marking more than one hundred twenty years of operation, the
• 8:52
  Northern Kentucky community has many successes to celebrate in twenty
• 8:57
  twenty five, said b nkypri resident and CEO Lee Kroome.
• 9:03
  As we head into twenty twenty six, b NKY will
• 9:06
  continue working hard to improve our region while emphasizing the
• 9:11
  many amenities that make Northern Kentucky the best place in
• 9:15
  the country to live, work, play, grow and learn about
• 9:20
  b NKY Growth Partnership. B NKY Growth Partnership, the Economic
• 9:26
  Development Company for Northern Kentucky, provides businesses with the expertise
• 9:31
  they need to build opportunity in Boone, Kenton and Campbell Counties.
• 9:36
  We attract new businesses and elevate what's already here to
• 9:40
  create innovative, forward thinking, and attractive environments for companies and
• 9:45
  community success. We serve Northern Kentucky so that our community
• 9:49
  thrives through the creation of good jobs and a growing
• 9:53
  and diverse economy. We believe in opportunity and prosperity for
• 9:58
  all of Northern Kentuckians. Our next article comes from the
• 10:01
  January twenty eighth, twenty twenty sixth edition of Business Lexington
• 10:06
  and is titled Stockyards Bank Corps to acquire Field and
• 10:10
  Maine and all stock deal. Stockyards Bank Corps Incorporated, parent
• 10:16
  company of Stockyards Bank and Trust Company, announced it will
• 10:19
  acquire Field and Maine Bank Corps Incorporated in an all
• 10:23
  stock transaction expected to close during the second quarter of
• 10:26
  twenty twenty six, subject to approval by Field and Maine
• 10:30
  shareholders and customary regulatory approvals and closing conditions. Stockyards Bank
• 10:36
  and Trust Company operates offices in Louisville and Central Eastern
• 10:41
  and Northern Kentucky, as well as Indianapolis, Indiana, and Cincinnati,
• 10:45
  Ohio metropolitan markets. Field and Maine, headquartered in Henderson, Kentucky,
• 10:51
  operates six retail branches in Henderson, Lexington, and Cynthiana, Kentucky,
• 10:57
  and Evansville, Indiana. As of Desnumber thirty first, twenty twenty five,
• 11:02
  Field and Maine reported approximately eight hundred sixty one million
• 11:05
  dollars in assets, six hundred fifty two million dollars in loans,
• 11:10
  and seven hundred and eighty one million in deposits. The
• 11:14
  bank also maintains a wealth management and trust department with
• 11:18
  approximately eight hundred million dollars in assets under management. As
• 11:23
  of December thirty one, twenty twenty five. The combined franchise
• 11:27
  will serve customers through eighty one branches with approximately ten
• 11:32
  point four billion dollars in total assets, seven point nine
• 11:36
  billion dollars in gross loans, eight point six billion dollars
• 11:40
  in deposits, and eight point four billion dollars in trust
• 11:43
  assets under management. The partnership also represents an opportunity to
• 11:48
  accelerate Stockyard's strategic expansion across western Kentucky. The recent addition
• 11:54
  of the Bowling Green market underscores the company's commitment to
• 11:58
  long term growth in the corridor, stretching from Henderson through Owensboro,
• 12:03
  Bowling Green, and Hopkinsville to Paducah and beyond. Under the
• 12:07
  terms of the merger agreement, Field and Main shareholders will
• 12:11
  receive zero points six five five zero shares of Stockyard
• 12:15
  common stock for each share of Field and Maine common stock.
• 12:20
  Total consideration will consist entirely of stock. Based on the
• 12:24
  closing price of Stockyard's common stock of sixty eight dollars
• 12:28
  and one cents on January twenty six, the implied per
• 12:32
  share purchase price is forty four dollars and fifty five cents,
• 12:36
  with an aggregate transaction value of approximately one hundred five
• 12:41
  point seven million dollars. In addition, Scott Davis, a member
• 12:46
  of Field and Maine's Board of Directors, is expected to
• 12:49
  join the Stockyards board following completion of the transaction. We
• 12:54
  are thrilled to welcome Field and Maine and its dedicated
• 12:56
  employees to the Stockyards team. Sat James A. Hildebrand, Chairman
• 13:02
  and chief executive officer of Stockyards. This combination joins two
• 13:07
  community banks whose values and cultures are closely aligned and
• 13:11
  significantly expands our reach in western Kentucky. Both banks have
• 13:16
  always been committed to delivering a modern craft banking experience
• 13:21
  that includes great customer service, strong community ties, and an
• 13:25
  environment where employees can thrive and grow. Said Davis, chairman
• 13:30
  and CEO of Field in Maine. We're excited to partner
• 13:33
  with the Stockyard's team to build the premier community bank
• 13:37
  in the region. Our next article comes from the January
• 13:40
  twenty eighth, twenty twenty six edition of Here Lexington and
• 13:44
  is titled Boeing's revenue surge signals strong recovery. A look
• 13:50
  at Boeing's impressive fourth quarter of twenty twenty five. Boeing
• 13:54
  has announced a remarkable sixty percent increase in revenue for
• 13:57
  the fourth quarter of twenty twenty five, reaching twenty three
• 14:01
  point nine five billion dollars, driven by a substantial rise
• 14:05
  in airplane deliveries. This impressive performance represents the company's strongest
• 14:10
  quarter since twenty eighteen, providing a hopeful outlook for the
• 14:14
  aerospace giant and the wider economy. In a climate where
• 14:19
  entrepreneurial innovation is pivotal, Such recoveries highlight the resilience that
• 14:25
  can emerge from cautious regulatory practices and business adaptability. The
• 14:31
  significant revenue growth was fueled primarily by one hundred sixty
• 14:35
  commercial airplane deliveries during the quarter, more than doubling the
• 14:39
  fifty seven deliveries in the same time frame the previous year.
• 14:43
  These deliveries are crucial to Boeing's cash flow, as buyers
• 14:47
  typically provide a substantial part of the purchase price upfront.
• 14:52
  This strong performance illustrates how effective management and strategic pivots
• 14:56
  can lead to notable financial success in the corporate arena.
• 15:01
  Financial highlights of Boeing's performance. Boeing's financial rebound is underlined
• 15:07
  by its net profit of eight point one three billion
• 15:10
  dollars or ten dollars and twenty three cents per share,
• 15:15
  compared to a net loss of three point nine two
• 15:18
  billion dollars in Q four of the previous year. Excluding
• 15:22
  special items, the company's core earnings per share stood at
• 15:26
  nine dollars and ninety two cents, significantly exceeding Wall Street's
• 15:30
  expectations a nine point sixty seven billion dollar gain from
• 15:36
  the sale of parts of its digital aviation solutions business
• 15:40
  further bolstered these results, proving that strategic divestures can pay
• 15:45
  substantial dividends. Addressing challenges and legal hurdles. Throughout twenty twenty five,
• 15:52
  Boeing focused on overcoming previous challenges, including regulatory and legal hurdles. Notably,
• 16:00
  in November, a federal judge dismissed a criminal conspiracy charge
• 16:04
  related to two tragic seven three seven Max crashes, which
• 16:09
  had garnered widespread scrutiny. As part of the resolution, Boeing
• 16:14
  committed one point one billion dollars toward fines, victim compensation,
• 16:19
  and internal safety enhancements. This proactive approach not only mitigates
• 16:24
  legal exposure, but also strengthens Boeing's commitment to safety and accountability,
• 16:30
  production expansion and regulatory support. The Federal Aviation Administration FAA
• 16:37
  approved an increase in seven three seven Max production to
• 16:41
  forty two jets per month, following prior restrictions. This move
• 16:47
  represents a significant step in Boeing's recovery trajectory and underscores
• 16:52
  the critical role that sensible regulation plays in fostering industrial growth.
• 16:57
  By balancing oversight with opportunities for expansion, regulatory bodies can
• 17:02
  contribute to a thriving business environment. Future focus stability and
• 17:08
  trust rebuilding. Boeing's leadership has expressed a strong commitment to
• 17:13
  stabilizing operations and rebuilding trust with stakeholders as it navigates
• 17:19
  its post crisis landscape. By continuing to prioritize safety quality
• 17:25
  and operational stability, Boeing aims to restore its reputation while
• 17:30
  contributing to economic growth. The emphasis on improving product reliability
• 17:36
  and safety standards is expected to be a cornerstone of
• 17:39
  its strategy moving forward conclusion, looking ahead with optimism. Boeing's
• 17:46
  fourth quarter performance serves as a testament to the power
• 17:49
  of entrepreneurship, strategic management, and prudent regulatory practices in fostering
• 17:56
  economic recovery. As the aerospace industry at apps and innovates,
• 18:01
  lessons from Boeing experiences can inspire local entrepreneurs and small
• 18:07
  businesses in Lexington, Kentucky and beyond. Supporting our local businesses
• 18:12
  and remaining engaged in community economic growth can drive prosperity
• 18:17
  for all. The next article from here Lexington is titled
• 18:22
  Canada and China Trade Agreement, Tariffs and Tensions, Exploring the
• 18:27
  impact of recent trade developments, Toronto, Ontario, Canada has recently
• 18:34
  seen significant discussions surrounding its trade relationship with China, particularly
• 18:39
  in light of escalating economic tensions with the United States.
• 18:43
  Prime Minister Mark Carney announced that while Canada is committed
• 18:47
  to decreasing tariffs on specific sectors with China, the government
• 18:51
  does not intend to pursue a comprehensive free trade agreement.
• 18:55
  This decision comes amidst threats from US President Donald Trump
• 19:00
  to impose a substantial one hundred percent tariff on Canadian
• 19:03
  imports if such a deal proceeded. The recent Canada China
• 19:08
  Agreement aims to address trade imbalances and improve economic relations
• 19:14
  in a way that aligns with the commitments Canada has
• 19:17
  made under the United States Mexico Canada Agreement USMCA. Under
• 19:23
  this framework, Canada is required to inform the United States
• 19:27
  before engaging in trade agreements with non market economies, which
• 19:32
  explicitly includes China. This regulatory measure aims to maintain transparency
• 19:37
  and foster a cooperative economic environment. Impact of tariff adjustments
• 19:45
  the most notable aspect of the recent agreement is the
• 19:47
  mutual reduction of tariffs, particularly on electric vehicles and agricultural goods.
• 19:54
  Canada had implemented a one hundred percent tariff on Chinese
• 19:58
  electric vehicles and twenty five percent tariff on steel and
• 20:01
  aluminum in twenty twenty four, actions that mirrored similar tariffs
• 20:06
  from the United States. In retaliation, China responded with a
• 20:10
  one hundred percent tax on Canadian canola imports in twenty
• 20:15
  five percent tariffs on pork and seafood. However, the recent
• 20:19
  negotiations indicate a step towards rectifying these trade barriers. Details
• 20:25
  of the new arrangement. The newly established framework includes a
• 20:29
  reduction of tariffs on Chinese electric vehicles entering Canada. An
• 20:34
  initial annual cap has been set for these imports, scheduled
• 20:38
  to gradually increase over five years. This cap is designed
• 20:42
  to limit the influx of vehicles to about three percent
• 20:45
  of the total Canadian market, while fostering the potential for
• 20:49
  Chinese investment in the Canadian auto industry. US concerns and
• 20:54
  diplomatic relations. President Trump's administration has expressed serious concerns god
• 21:00
  guarding this agreement, indicating that it could allow Canada to
• 21:03
  become a conduit for Chinese goods entering the US market.
• 21:08
  Such statements underscores the fragility of international trade relations and
• 21:14
  the complexities involved in maintaining economic partnerships amidst rising nationalism
• 21:20
  and protectionist sentiments. Compliance with USMCA Canada's commitment to notify
• 21:27
  the US about agreements with non market economies illustrates the
• 21:31
  broader implications of the USMCA framework on bilateral trade policies.
• 21:38
  This transparency is crucial for maintaining trust and stability in
• 21:42
  North American markets, and it serves as a cautionary tale
• 21:46
  of the intricacies of international diplomacy and trade. Looking ahead
• 21:52
  prospects for economic growth, as Canada navigates its economic path
• 21:57
  in relation to China and the US, the remains on
• 22:00
  achieving mutually beneficial agreements that do not compromise its existing relationships.
• 22:07
  The expected investment from China in the Canadian auto sector
• 22:11
  holds the potential for job creation and innovation, vital components
• 22:15
  for sustaining economic growth. Communities and local businesses can play
• 22:20
  a pivotal role in adapting to new trade realities by
• 22:24
  keeping abreast of these developments and advocating for policies that
• 22:28
  promote entrepreneurship and small business resilience conclusion. In conclusion, the
• 22:36
  latest developments in the Canada China trade Agreement demonstrate the
• 22:40
  delicate balance governments must achieve in navigating international trade. As
• 22:45
  Lexantonians and wider communities explore the ramifications of these changes,
• 22:50
  it is essential to keep supporting local businesses, which are
• 22:54
  the backbone of our economy. Observing the outcomes of such
• 22:58
  trade agreements can provide insights that are beneficial for your
• 23:02
  understanding of our local economic landscape. Our next article comes
• 23:07
  from the January twenty eighth, twenty twenty six edition of
• 23:10
  Louisville Business First and is titled Sutheby's sets Record with
• 23:15
  two point five million dollar American Whiskey auction, written by
• 23:20
  Stephen Schmidt. Whiskey history was made on Saturday evening. For
• 23:26
  the first time in its two hundred eighty two year history,
• 23:29
  the Southeby's auction House held its first live auction of
• 23:32
  American whiskey that was owned by one person. The entire collection,
• 23:37
  called the Great American Whiskey Collection, amass day record two
• 23:41
  point five million dollars, far exceeding the pre sale estimates
• 23:45
  of one point one seven million and one point six
• 23:49
  to eight million. According to a news release, eighty nine
• 23:52
  percent of the three hundred twenty lots sold for more
• 23:55
  than their pre sale estimates. The sale drew intense competition
• 24:00
  from determined collectors online, on the phones, and in the
• 24:04
  room for some of the rarest and most coveted bourbon
• 24:07
  and rye ever bottled. According to the news release, the
• 24:11
  auction took place at the Brower Building on Madison Avenue
• 24:14
  in Manhattan and set a record for being the most
• 24:17
  valuable single owner spirit's auction in New York State. The
• 24:22
  record number of sales eclipsed the record that was previously
• 24:26
  set in twenty twenty one, when the Thoroughbred Collection reached
• 24:30
  a total of nine hundred sixty five eight hundred thirteen dollars.
• 24:35
  That collection contained more than two hundred and fifty lots.
• 24:38
  The auction took place the day before the one hundred
• 24:41
  forty seventh running of the Kentucky Derby. The Great American
• 24:45
  Whiskey Collection was composed of three hundred sixty bottles, with
• 24:49
  its top prize being a twenty year old bottle of
• 24:52
  Old Rip Van Winkle aka Peppy Single barrel Sam's dating
• 24:58
  back to nineteen eighty two U The bottle had a
• 25:01
  final sale of one hundred sixty two thousand, five hundred dollars,
• 25:05
  which skyrocketed more than the estimated range of seventy thousand
• 25:09
  to one hundred thousand dollars. Only sixty bottles were made
• 25:13
  for the bourbon, which was the highest proof pappy release
• 25:16
  in history. According to the news release, this sale represents
• 25:21
  a defining moment for American whiskey at auction, underscoring the
• 25:25
  legendary status of the Van Winkle name in the extraordinary
• 25:29
  significance of the Sam's old rip van Winkle, said Sotheby's
• 25:34
  whisky specialist Zev Glesta in the news release. The result
• 25:39
  reflects the continued maturation of the global market for the
• 25:43
  rarest American whiskies and a growing appreciation for the craftsmanships, heritage,
• 25:49
  and rarity that defined the very best of American distilling.
• 25:53
  The name of the collector's owner was not disclosed, nor
• 25:57
  were any of the names of the buyers. Is interesting
• 26:00
  to note is that ninety six percent of the collections
• 26:03
  were acquired by collectors who are based in North America. Furthermore,
• 26:07
  a third of the buyers had never taken part in
• 26:09
  a Sotheby's auction before, with half of them being forty
• 26:13
  or younger. Our next article comes from the January twenty eighth,
• 26:17
  twenty twenty sixth edition of the Louisville Courier Journal and
• 26:21
  is titled GE Appliances brings new manufacturing operation to Louisville.
• 26:26
  What we Know, Written by Olivia Evans. GE Appliances is
• 26:31
  once again investing at its global headquarters in Louisville. The
• 26:35
  appliance manufacturer, a hair company, announced January twenty eighth it
• 26:39
  would bring a new advanced manufacturing operation to Appliance Park
• 26:44
  at four thousand Mutual Bank Road. With the addition of
• 26:48
  water filter manufacturing. GE Appliances intends to design, test and
• 26:53
  produce the filters locally, a move that company officials said
• 26:57
  will strengthen supply chain resiliency, improve quality, and guard against
• 27:01
  counterfeit products. Millions of water filters, which will support the
• 27:06
  Ge Appliance's refrigerator products, are set to be made each year.
• 27:11
  GE Appliances said the fully automated assembly and packaging operation
• 27:16
  will use as most advanced automation for water filter production
• 27:19
  to date. The highly automated operation is expected to run
• 27:23
  on three shifts and create thirty new jobs, including control technicians,
• 27:28
  maintenance specialists, and quality professionals to oversee performance, data, integrity,
• 27:34
  and continuous improvement, the company said. GE Appliances VP of
• 27:39
  Manufacturing Bill Good said, this investment is exactly what advanced
• 27:44
  manufacturing should look like in America. We're combining cutting edge automation,
• 27:50
  digital tools, and highly skilled teams to build a manufacturing
• 27:54
  operation that raises the bar on quality and efficiency. This
• 28:00
  concludes the reading of the most recent business news in Lexington,
• 28:04
  Louisville and around the state. Your reader to day has
• 28:07
  been Julia Shane. If you have any questions or comments
• 28:10
  about this program, please give our Lexington Studios a call
• 28:14
  at eight five nine four two two six three nine zero.
• 28:19
  Thanks for listening, and now please stay tuned for readings
• 28:22
  from the Kentucky series here on Radio I