Latest / Kentucky Business News / 1.22.26

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1.22.26 · 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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  January sixteenth, twenty twenty sixth edition of The Lane Report
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  and is titled five New Tourism Development Projects one hundred
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  eighteen million dollars invested in twenty twenty five. Tourism development
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  projects expected to create ninety four full time jobs two
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  hundred four part time jobs. Building on the New Kentucky
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  Home initiative, Governor Andy Basheer announced five new tourism development
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  projects in twenty twenty five, generating an estimated one hundred
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  eighteen million dollars in economic investment. These projects are expected
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  to create approximately two hundred and ninety eight jobs when operational.
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  The Tourism Development program is essential in building a brighter
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  future for our people, said Governor Basheer. When businesses invest
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  in our tourism industry, they help drive more visitors to
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  our New Kentucky Home boost to local economies and grow
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  our communities throughout the Commonwealth. Together, we are making Kentucky
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  a destination where opportunity and hospitality go hand in hand. Additionally,
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  the Kentucky Tourism Development Finance Authority granted preliminary approval to
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  four tourism development projects that are expected to generate ninety
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  seven point one million dollars in economic investment, creating approximately
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  one hundred ninety six jobs once operational. In twenty twenty five,
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  the Commonwealth gave final approval to five tourism development projects,
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  including one Triangle Park property Owner LLC Hyatt Regency Lexington
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  and Fayette County with an estimated fifty eight point five
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  million dollar investment that is expected to create fifteen jobs.
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  Two Kentucky Kingdom Theme Park LLC and Jefferson County with
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  an estimated twenty seven point five million dollar investment that
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  is expected to create one hundred and five jobs. Three
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  hum Trs LP Crown Plaza and Warren County with an
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  estimated eight million dollar investment that is expected to create
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  thirty jobs. Four TS Entertainment LLC Malibu Jack's Indoor Theme
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  Park in Davies County with an estimated eighteen point three
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  million dollar investment that is expected to create one hundred
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  twenty five jobs, and five GN Event Hospitality LLC Grand
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  Nicholson Event Center in Kenton County with an estimated five
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  point five million dollar investment that is expected to create
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  twenty three jobs. In twenty twenty five, the Commonwealth also
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  gave preliminary approval to four tourism development project, including one
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  Appalachian Wildlife Foundation Incorporated boons Ridge and Bell County, with
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  an estimated sixty one point four million dollar investment expected
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  to create one hundred ten jobs. Two Bakery Square Hotel
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  LLC and Jefferson County with an estimated ten point nine
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  million dollar investment that is expected to create thirty six jobs.
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  Three Lexington Downtown Hotel Investment LLC Hilton Lexington Downtown in
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  Fayette County with an estimated twenty point nine million dollar
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  investment that is expected to create thirty one jobs. And
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  four NSD Spirits LLC never Say Dibourbon Distillery in Fayette
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  County with an estimated four million dollar investment that is
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  expected to create nineteen jobs. We are proud to sustain
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  the success of tourism development here in our new Kentucky Home,
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  said Tourism, Arts and Heritage Cabinet Secretary Very Lindy Caspier.
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  Thanks to Governor Basheer's leadership and our hardworking staff, the
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  Commonwealth continues to reap the benefits of new jobs, private investment,
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  and tax revenue, not to mention creating and enhancing exciting
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  destinations for visitors from within Kentucky and beyond. The projects
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  are approved through the Tourism Development Act, which supports the development, rehabilitation,
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  and expansion of tourism projects. This program allows developers to
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  recover up to twenty five percent of the project's development
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  costs over a ten year term through sales tax generated
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  on site. Projects, including but not limited to lodging facilities
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  constructed on state parks, federal parks, or national forest lands,
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  are eligible to recover up to fifty percent of the
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  development costs over a twenty year term. The projects that
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  received final approval in twenty twenty five can collect a
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  maximum potential incentive of fear fifteen point five million dollars.
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  We can't wait to see these new projects reach completion
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  and look forward to the increased visitation they will bring
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  to the state, said Kentucky Department of Tourism Commissioner Mike Magney.
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  These investments will have a significant impact on our communities,
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  and we're proud to support the continued success of this
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  incentive program. The next article from the LANE report is
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  titled Kentucky Arts Council Awards one point two million dollars
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  in grants to nonprofits. One hundred and twelve organizations across
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  the commonwealth will receive funding in twenty twenty six. Governor
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  Andy Basheer announced that one hundred twelve nonprofit arts organizations
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  across the commonwealth will benefit from more than one point
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  two million dollars in funding in the twenty twenty six
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  fiscal year through the Kentucky Arts Council's Kentucky Arts Partnership
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  CAP Grant. The arts are essential to Kentucky, our people,
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  and our future. Not only do they inspire, they help
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  make our New Kentucky home a more welcoming place for
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  families and businesses, said Governor basher Team Kentucky is proud
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  to support these organizations and looks forward to seeing the
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  positive impact they provide throughout the commonwealth. The CAP grant
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  provides nonprofit arts organizations with operating support to ensure that
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  year round participation in the arts is available to the
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  people of Kentucky. Each year, the Tourism, Arts and Heritage
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  Cabinet is able to track the direct impact of the
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  arts in our communities, said Tourism, Arts and Heritage Cabinet
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  Secretary Lindy Caspier. The arts helped fuel our fourteen point
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  three billion dollar tourism industry, which has celebrated the three
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  best years on record. In fiscal year twenty twenty five,
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  participating organizations provided approximately three point four million unique arts
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  experiences and generated over seventy three million dollars in revenue
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  for communities across the Commonwealth. Funding for Kentucky Arts Partnership
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  grants comes from the Kentucky General Assembly and the National
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  Endowment for the Arts. Our one hundred and three returning
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  partners can attest to the impact of these grants, said
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  Chris Cather's Kentucky Arts Council executive Director. Without these funds,
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  many organizations across the Commonwealth would not be able to
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  provide experiences that enrich the lives of Kentuckians. Support from
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  grants like CAP is important to organizations like the Owensborough Symphony.
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  This funding is vital for our organization to continue its
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  mission to create meaningful, imaginative performances and educational and community
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  engagement programs that enriched lives and create memorable experiences, said
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  Gwyn Payne, CEO of Owensboro's Symphony. The competitive grants are
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  awarded annually. Nine new organizations were approved in this year's
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  grant cycle. The new cap recipients include barn Lot Theater
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  in Edmonton, red Oaks Center for Nature and the Arts
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  in Stanton, First Friday, Berea in Berea Green Room Exchange
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  in Lexington, Appalachia Book Company in Lowinsville, Union Commonwealth University
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  Fine Arts Center in Barberville, Viva Voices Choral Organization Incorporated
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  in Covington, Louisville, Corus Incorporated in Louisville, and Casa de
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  la Cultra Kentucky in Lexington. The next article comes from
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  the January twenty first, twenty twenty sixth edition of Here,
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  Lexington and is titled Cardiff Flexington Corporation Moves towards NASDAQ IPO.
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  Cardiff Flexington Corporation has recently filed the registration statement on
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  Form S one with the US Securities and Exchange Commission
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  SEC for its proposed initial public offering IPO of common stock.
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  This exciting move aims to list its shares on the
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  Nasdaq Capital Market under the symbol CDIX. As the company
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  embarks on this pivotal journey, the final number of shares
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  to be offered and their price range remain to be determined,
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  contingent upon market conditions and other influential factors. This potential
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  listing on Nasdaq underlines the resilience and determination inherent in
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  local businesses, especially in the healthcare sector, where innovation often
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  drives positive change. Cardiff Lexington Corporation, a healthcare focused holding
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  company specializing in orthopedics, spine care, and pain management, is
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  positioning itself for significant growth, thanks in part to favorable
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  regulatory environments that encourage entrepreneurial opportunities. Strategic partnership with r F.
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  Lafferty and Company. The company has chosen r F. Lafferty
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  and Company as the sole book running manager for this IPO.
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  This partnership involves a range of strategic advisory services, including
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  market strategy, capital formation, valuation, investor positioning, and regulatory readiness.
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  Collaborating with experienced advisors not only enhances the company's growth, potential,
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  but also emphasizes its commitment to sound financial practices, healthcare focus,
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  and growth strategy. Cardiff Flexington Corporations, operating subsidiary Nova Ortho
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  and Spine LLC, operates a network of specialty care facilities
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  across Florida and Georgia, providing comprehensive services to patients with
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  traumatic injuries. This focus on a niche yet critical aspect
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  of healthcare underscores Cardiff Flexington's dedication to making a meaningful
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  impact while also capitalizing on growth opportunities in the healthcare market.
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  Recent developments reverse stock split. In alignment with the strategy
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  to meet listing qualification standards for a national securities exchange,
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  Cardiff Flexington implemented a seventy five thousand to one reverse
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  stock split in January of twenty twenty four. This strategic
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  move reduced the number of outstanding shares, enhancing the company's
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  position for future growth and increased shareholder value. Such actions
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  are indicative of a well planned approach to attract serious
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  investors and build a robust public profile. Uplisting to OTCQB
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  venture market. In May of twenty twenty five, Cardiff Flexington
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  Corporation announced its successful uplisting to the OTCQB venture market,
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  highlighting its commitment to transparency and enhanced operational standards. This
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  move is expected to further position the company favorably in
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  the eyes of investors, potentially leading to increased market interest
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  and investment opportunities. Key takeaways Cardiff Lexington Corporations Planned IPO
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  represents not just the trajectory of one local company, but
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  also illustrates a broader narrative of innovation, growth, and resilience
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  among Kentucky entrepreneurs. With strategic financial management in place and
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  to focus on specialized healthcare services, the company is well
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  prepared to meet the challenges ahead and contribute positively to
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  the Lexington business landscape. As the local community remains engaged
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  and supportive of its businesses, the entrepreneurial spirit in Lexington
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  stands ready to foster job creation and economic development. Staying
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  connected to these developments not only benefits investors, but also
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  enhances community involvement in shaping the economic future of Lexington.
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  The next article from here Lexington is titled USPS announced
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  as price increases for mailing services beginning January eighteenth, twenty
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  twenty six, the United States Postal Service USPS will introduce
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  a price increase, impacting various mailing services at Kentucky post offices.
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  This upcoming adjustment will resonate through both local and national
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  USPS customers, presenting an important change in mailing expenses for
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  residents and businesses alike. Details with the price increase, the
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  USPS has specified the following changes to its mailing services.
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  Priority Mail an average increase of six point six percent,
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  Priority Mail Express an average increase of five point one percent,
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  Round Advantage an average increase of seven point eight percent.
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  The new rates will apply specifically for common services and packages,
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  including flat rate envelopes at eleven dollars and ninety five cents,
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  up from ten dollars and ten cents. Legal flat rate
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  envelope twelve dollars and ninety five cents, up from ten
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  dollars and forty cents. Padded flat rate envelope twelve dollars
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  and ninety five cents, up from ten dollars and eighty
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  five cents. Small flat rate box twelve dollars and sixty
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  five cents, up from ten dollars and sixty five cents.
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  Medium flat rate box twenty two dollars and ninety five cents,
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  up from nineteen dollars and fifteen cents. Large flat rate
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  box thirty one dollars and fifty cents, up from twenty
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  six dollars and thirty cents. These adjustments made by USPS
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  are central to realigning service prices with rising operational costs
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  and prevailing market conditions. It's noteworthy that the last significant
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  price change took place on July thirteenth of twenty twenty five,
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  when first class mail forever stamps increased by five cents
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  from seventy three cents to seventy eight cents impact on
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  ent residents. Residents and businesses within Kentucky will feel the
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  effects of these rate changes. The USPS has clarified that
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  the revenue generated from these increases is vital for maintaining
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  and enhancing postal services across the nation. Such measures reflect
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  the ongoing efforts to solidify the operational resilience of the
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  USPS and a competitive market background context. The USPS periodically
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  adjust its rates as a response to financial challenges that
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  arise from operational costs and the need to finance service enhancements.
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  The decision to impose these increases follows a series of
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  financial setbacks aiming to bolster long term sustainability while ensuring
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  quality service performance. The next article from here Lexington is
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  titled Lexington's Speak Easy Dispensary enhances medical cannabis access. New
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  dispensary set to open this month boosts patient options in
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  Central Kentucky. The landscape of medical cannabis in Central Kentucky
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  is evolving with the anticipated opening of the Speakeasy Dispensary
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  on January fifteenth, twenty twenty six. This new edition marks
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  the third medical marijuana dispensary in the region, following the
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  inaugural dispensary The Post, which opened on December thirteenth, twenty
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  twenty five. As Kentucky works to enhance his medical cannabis program,
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  local entrepreneurs are seizing the opportunity to create businesses that
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  not only serve patients, but also stimulate economic growth. The
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  Speakeasy Dispensary, located at one eight four nine Ali Sheeba
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  Way in Lexington, is designed with patient comfort and mind,
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  providing a welcoming space for individuals to explore various medical
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  cannabis options, with operating hours that cater to a variety
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  of schedules. Sunday through Thursday, from ten am Todis eight pm,
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  and Friday and Saturday from eight am to eight pm.
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  The dispensary aims to meet the needs of its clientele
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  efficiently Kentucky's Medical Cannabis Initiative. The opening of speakeasy is
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  part of a broader initiative launched in Kentucky aimed at
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  establishing a legal framework for medical cannabis that began on
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  January first of twenty twenty five. This program allows for
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  a maximum of forty eight dispensary licenses across the state,
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  with each county permitted one dispensary, while Fayette and Jefferson
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  Counties can each have two. This regulatory approach ensures that
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  patients have access to necessary medical treatments while promoting limited
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  competition among dispensaries, fostering a resilient local economy. Impact on
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  local economy and innovation. As the medical cannabis industry continues
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  to expand in Kentucky, the potential impacts on the local
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  economy are significant. The establishment of dispensaries introduces new job
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  opportunities and supports local entrepreneurs dedicated to improving healthcare access.
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  As Kentucky embraces a more deregulated approach to cannabis. The
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  state stands to benefit from increased private investment and innovation,
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  enhancing its business landscape. Fostering patient to centric care. Dispensaries
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  like Speakeasy are not just retail outlets. They serve as
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  centers for education and support, guiding patients through their medical
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  cannabis journeys. By prioritizing a holistic and patient focused model,
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  these establishments can contribute positively to community health. With knowledgeable
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  staff members available to offer guidance on usage, Speakeasy is
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  positioned to become a trusted resource in the Lexington area.
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  Looking ahead, more dispensaries on the horizon. As Kentucky continues
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  to shape its medical cannabis landscape, it is expected that
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  additional dispensaries will emerge, further increasing access for patients throughout
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  the state. This growth is indicative of a changing mindset
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  towards cannabis use, acknowledging its potential benefits while remaining committed
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  to responsible regulation. Local businesses that adapt and innovate in
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  this space will play a vital role in the overall
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  success of the state's medical cannabis program. Conclusion, the impending
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  opening of the speakeasy dispensary represents a significant step forward
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  for the medical cannabis initiative in Lexington, Kentucky. By creating
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  a business that caters to local needs while fostering community growth,
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  entrepreneurs are demonstrating how innovation can drive economic success. As
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  this initiative progresses, residents are encouraged to support local dispensaries
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  and remain engaged in the ongoing development of Lexington's economic landscape.
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  The next article comes from the Louisville Courier Journal and
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  is titled Ford Dearborn Truck Plant Manager describes his visit
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  with Trump, written by Jamie LaRue. Dearborn Truck Plant manager
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  Corey Williams has met three US Presidents and a US
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  Vice President during his thirty year tenure with Ford Motor Company.
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  On January thirteenth, the day before the Detroit Auto Show
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  Media Day, Williams helped Ford's leaders host President Donald Trump,
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  the third president he has met, at Ford Rouge Center
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  in Dearborn, Michigan. It's where Ford builds its popular F
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  one fifty pickup, and Trump stopped by the plan ahead
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  of a plant speech before the Detroit Economic Club in
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  the afternoon. Trump told the media on the plant floor
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  that he came to the factory because we're friends the
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  three of us, referring to Ford Executive chair Bill Ford
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  and Fordward CEO Jim Farley, who were flanking both sides
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  of Trump during the tour. Trump is the most recent
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  president to visit a Ford factory, which the company said
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  has hosted every US president in the past fifty years.
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  In fact, when former President Joe Biden visited the Rouge
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  Electric Vehicles Center in twenty twenty one, he took the
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  F one to fifty lightning for surprise spend. Williams talked
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  with the Detroit Free Press, part of USA Today Network
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  after the hour long factory tour he took with Trump
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  to describe the experience. He said, Trump did not ask
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  to drive any of the F one fifties coming off
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  the line, but the President had a lot of interaction
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  with the workforce. President Trump was very excited and he
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  interacted with the people. Well, there was a lot of
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  cheering and mister President, can I take a picture with you?
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  And shaking hands, Williams said, noting that Trump posts for
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  many photos. We had a couple of our employees who
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  got to have one on one time with him on
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  the floor, and they talked about how proud they are
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  building the F one fifties, in that we build one
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  hundred percent of our trucks in the United States. The
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  day was marred by one incident, however, when a worker
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  shouted a derogatory statement at Trump, who responded with a
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  curse word and what media reports said was an obscene gesture.
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  That worker, a UAW member, has been suspended. The UAW
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  said Trump an F one fifty fan. The President arrived
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  at Dearborn Truck Plant around twelve twenty five and stayed
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  about an hour. Williams said he was accompanied by Treasury
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  Secretary Scott Bessant, Bill Ford Farley, and Williams. Ford spokesman
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  Dave Tovar told the Detroit Free Press and a statement,
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  we were excited to welcome President Trump to Ford's historic
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  Rouge Center, where Henry Ford perfected vertical integration and where
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  thousands of American workers assemble America's best selling truck for
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  forty nine years, the F series. Tovar reiterated the news.
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  Ford shared in October that it was adding twelve hundred
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  jobs at Dearborn Truck Plant and that employees in those
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  roles are currently being trained and will start in February.
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  Ford also said in December its Tennessee truck plant will
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  produce all new Ford Tough truck models, with productions starting
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  in twenty twenty nine. These new affordable gas powered trucks
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  will broaden Forge truck family and extend our market leadership.
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  Ford is hiring thousands of people across Tennessee, Ohio, Kentucky,
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  and Michigan to support customer demand and connection to those announcements.
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  There were no UAW leaders on the tour, and the
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  UAW did not respond Tuesday to the Detroit Free Press
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  inquiry seeking comment on Trump's visit to Ford's factory. As
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  Williams showed Trump an F one fifty being assembled along
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  the line. Trump can be heard on a fox Feed
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  broadcast asking where are the big ones made? Bill Ford
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  tells him Ford makes those at Kentucky Truck Plant in Louisville, Kentucky.
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  I saw the one fifty and two fifty. The two
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  fifty is good, The four to fifty is unbelievable, Trump said,
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  referring to Ford's F series pickups. Trump makes no secret
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  of his fondness for F series. In late October, after
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  a reporter informed Trump that Japan's new Prime Minister, Saint Takachi,
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  was considering the purchase of a fleet of f one
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  to fifty trucks. Trump replied, that's good. They're great trucks.
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  She has good taste. That's a hot truck. The truck
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  became the center of conversation for Trump once again on
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  December third, This time it happened in the Oval Office
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  after Trump announced a proposal to ease the emission standards
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  that automakers will have to meet in the future. The
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  new proposal will mean automakers will no longer have to
• 24:58
  produce electric cars or cars with high fuel economy ratings
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  to offset the sales of bigger, more profitable vehicles that
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  are less fuel efficient to meet a stringent corporate average
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  fuel economy standard. It prompted Trump to say Ford would
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  make numerous electric cars in order to sell one Ford
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  f one fifty, because they'd make all the money with
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  the one fifty. The President went on to gush, the
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  one fifty is a monster. I'll tell you what, No
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  matter where you go, they love that Ford one fifty.
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  Trump said, So, congratulations on the one fifty. Williams declined
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  to say when they got word that the President was
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  coming to visit, citing security protocol, but he said to
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  prepare for the visit. Ford worked with the Secret Service
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  and the White House staff to prepare for the visit
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  and adhere to the protocols. After that, we did what
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  we do every day. We build a truck every fifty
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  three seconds. The next article comes from the January twenty first,
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  twenty twenty six editions of Louisville Business First and is
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  titled the Best Jobs of twenty twenty six have one
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  thing in common and high Salaries, written by Andy Medici.
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  The best Jobs of twenty twenty six, by one measure,
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  at least, are dominated by the human touch, though that
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  might be changing. Indeed's hiring labs scored thousands of occupations
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  across pay, demand, potential growth, and flexibility, weighing compensation as
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  well as current and future opportunity. Which jobs won out
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  Among the top fifty jobs for the new year are
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  positions in healthcare, technology, and the skilled trades, according to
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  the analysis. Within healthcare specifically, though, the roles are diversifying
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  amid an aging population, spreading across areas of treatment, mental health, diagnosis,
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  and rehabilitative care. Meanwhile, tech is being bolstered by artificial
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  intelligence spending and the cloud. Skilled trade showed up in
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  Indeed's analysis as providing stable, well paid occupations. The new
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  year begins how the previous one ended with headlines about
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  slow hiring, but that doesn't mean job growth has disappeared.
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  Indeed said in its report. Opportunities are pooling in a
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  smaller set of industries, yet many have low barriers to
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  entry and are increasingly found at an intersection of difficult
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  to automated, specialized skills and human connection. Indeed notes that
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  only eleven percent of total jobs are in healthcare, but
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  it represents seventy two percent of the total job growth.
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  Indeed also notes a thirty six percent decline in job
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  postings since early twenty twenty in tech jobs, but actual
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  employment in computer and mathematical occupations remains nearly twenty percent
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  higher than pre pandemic levels. This indicates that the current
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  slowdown is a structural rebalancing versus a dramatic collapse. 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.
• 28:09
  If you have any questions or comments about this program,
• 28:12
  please give our Lexington Studios a call at eight five
• 28:15
  nine four two two six three nine zero. Thanks for
• 28:19
  listening and now please stay tuned for readings from the
• 28:22
  Kentucky series here on Radio I