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12.4.25 · Kentucky Business News

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Speaker 1: Hello. Today, I'll be reading from business sources in Lexington
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and Louisville, including The Lane Report and others from around
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the Commonwealth. Your reader today is Julia Shane. As a reminder,
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RADIOI is a reading service intended for people who are
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blind or who have other disabilities that make it difficult
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to read printed material. Our first article comes from the
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December one, twenty twenty five edition of The Lane Report
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and has titled Greater Louisville Job Growth, Affordability Metrics Improving
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versus Pure Cities. Greater Louisville Incorporated released an annual update
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to its Regional Economic Dashboard. The dashboard was initially created
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in twenty twenty four to track the metropolitan Statistical Areas
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MSA progress in twenty eight categories related to population growth,
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talent economy, labor market, and livability. The twenty twenty five
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dashboard highlights strong performance and job growth, affordability and earnings
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relative to the cost of living. Areas for improvement include
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slow population growth, lower educational attainment, and higher rates of
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property crime as compared to pure regions. Data is critical
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to informing all business decisions, especially for site consultants and
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businesses considering relocating or expanding. This dashboard gives a transparent
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look at where Greater Louisville excels and needs work compared
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to our peers, said Clark Welch, vice president of Economic
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Development for Greater Louisville Incorporated. Equally as important, this data
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serves as a way for us to benchmark ourselves annually
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and make sure we are continuing to keep pace in
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the areas that drive economic growth. Updating the data annually
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allows the GLI team to identify trends where Greater Louisville
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is outperforming and underperforming pure regions. This year, GLI introduced
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a trend category to reflect year over year changes. Key
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trends over the last year include Greater Louisville's job growth
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in twenty twenty five has moved up one spot from
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twenty twenty four, surpassing Oklahoma City, Oklahoma. Greater Louisville's job
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change percentage increased eleven percent from twenty twenty to twenty
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twenty five, a significant jump from a four percent increase
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from twenty nineteen to twenty twenty four. Greater Louisville continues
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to see steady population growth, but remains middle of the pack.
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Compared to pure regions in this area. Greater Louisville's average
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household earnings compared to cost of living is strong compared
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to many peers. In three core economic indicators gross regional product, imports, exports,
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Greater Louisville moved up one spot from twenty twenty four.
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Greater Louisville's violent crime rates decreased and moved the region
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up the ranking two spots. However, the region dropped one
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spot in property crime. Tracking our region's progress and core
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indicators of economic growth year over year allows us to
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identify areas where we are falling behind pure regions and
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need to act. It also allows us to identify our
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strengths as a region and use that to strategically attract
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more businesses and people here, said Camilla Schroeder, chair of
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GLISED Board of Directors and president of Advanced Ready Mixed Concrete.
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All data for the dashboard was collected through Lightcast, a
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software recognized as one of the world's most comprehensive labor
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market data platforms offering user friendly tools. Burning Glass and
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MC are now part of Lightcast. Peer markets were originally
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identified by Greater Louisville Project, who previously tracked several of
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these indicators and were kept the same to ensure long
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term continuity data. Pure markets include Saint Louis, Missouri, Charlotte, Concord, Gastonia, Cincinnati,
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Kansas City, Columbus, Ohio, Indiana, Nashville, Oklahoma City, Memphis, Birmingham,
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Grand Rapids, Tulsa, Omaha, Greenville, South Carolina, Knoxville, and Greensboro
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high Point, North Carolina. Greater Louisville Incorporated is the Metro
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Chamber of Commerce and represents fifteen counties in Kentucky and Indiana.
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GLI's mission is to grow businesses and the regional economy.
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GLI supports businesses during every stage of development and represents
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the collective needs of the business community by advocating for
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pro growth policies and economic development investment, and deploying programming
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centered around attracting and developing talent and economic inclusion. GLI
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is the twenty nineteen National Chamber of the Year and
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is one of only three percent of chambers nationally certified
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with five Star accreditation status by the US Chamber of Commerce.
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The next article from the LANE report is titled NIH
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Awards eleven million dollars for UK Diabetes prevention research. University
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of Kentucky researchers were recently awarded at prestigious Centers of
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Biomedical Research Excellence COBRA grant that will significantly bolster diabetes
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prevention research. The five year, eleven million dollar grant from
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the National Institute for General Medical Sciences, part of the
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National Institutes of Health and IH, will fund the UK
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diabetes prevention research. With this grant, the UK DPC will
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strengthen the foundation of diabetes prevention research by expanding and
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modernizing diabetes focused infrastructure across campus and throughout the Commonwealth.
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Thousands of families are touched by diabetes in Kentucky, but
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at UK our researchers are advancing the promise of innovative
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diabetes research to improve the lives of Kentuckians. They are
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as always turning discovery into hope, said UK President Eli Capoluto.
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This grant strengthens both our research and our resolve to
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ensure a Commonwealth tomorrow that is healthier, wealthier and wiser
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than it is today. Simon Fisher, MD, PhD and Barbara Nikowski,
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PhD were awarded the highly competitive grant to build much
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needed capacity for diabetes prevention research. The work of the
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UK DPC will benefit the nation. In Kentucky, where an
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estimated thirty eight percent of adults have pre diabetes, Kentucky
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faces a very high burden of diabetes, said Fisher, director
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of the Barnstable Brown Diabetes Center, in chief of the
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Division of Indochronology, Diabetes and Metabolism. Ongoing research, clinical programs,
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and outreach at the University of Kentucky have advanced our
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understanding and treatment of diabetes. This grant will allow us
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to expand that work and help build a healthier state
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now and in the future. Diabetes affects families in every
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corner of the state. We are honored that the NIH
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has chosen to support the expansion of diabetes prevention expertise
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at UK. This investment strengthens our ability to reduce rates
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of type two diabetes and improve long term health outcomes
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for Kentuckians. This investment arrives at a critical moment for Kentucky,
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where diabetes and pre diabetes remain among the state's most
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urgent health challenges. By growing research capacity, expanding prevention programs,
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and fostering new scientific talent, the UK DPC will help
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perverse longstanding health disparities and improved outcomes for communities across
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the Commonwealth. This grant from the NIH complements ongoing diabetes
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research efforts at UK supported by the Barnstable Brown Family,
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the Bill Gatten Foundation, the UK Office of the Vice
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President for Research, and the UK College of Medicine. The
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UK DPC will advance work toward a healthier Kentucky and
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the Barnstable Brown Diabetes Center will continue to serve as
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a national leader in diabetes research. This Cobra grant is transformative,
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said Chipper Griffith, m D, Dean of the UK College
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of Medicine. It gives our researchers the tools, mentorship and
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infrastructure they need to push the boundaries of what's possible
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in diabetes prevention. Most importantly, it positions Kentucky as a
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national leader in fighting a disease that touches nearly every
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family in our state. The grant will pair new research
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infrastructure with personalized mentorship teams and pilot grant programs to
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develop a world class cohort of junior investigators. This next
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generation of scientists and clinicians will be crucial for addressing
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the many health care challenges associated with pre diabetes and diabetes.
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This grant also supports early stage faculty development by providing
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training in advanced analytic techniques and expanding biomedical research facilities,
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ensuring that cutting edge medicine and discovery continue to flourish
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in Kentucky for years to come. The next article from
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the Lane Report is titled Flavorman Announces twenty twenty six
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Beverage Industry Trends. Beverage experts at Flavorman project rise in
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unique tea blends and functional ingredients for the upcoming year. Flavorman,
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a leading custom beverage development company headquartered in Louisville, Kentucky,
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has released East's twenty twenty six Beverage Trends Forecast, continuing
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the company's eight year streak of accurately predicting the flavors
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and innovations that will shape the industry for the upcoming year.
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Drawing from extensive client project data, insights from industry partners,
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year over year consumer behavior patterns, and historical trend analysis,
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Flavorman's beverage architects identified several key shifts expected to influence
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product development in the year ahead. For the coming year,
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Flavorman projects that consumers will lean even more heavily into classic,
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enduring flavors such as mango, strawberry, lemon, lime, and vanilla.
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This aligns with a trend that the beverage architects predicted
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last year, where consumers have gravitated toward what is most
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familiar when choosing what to drink. Flavorman also notes growing
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interests in emerging fruits and decadent flavors such as guava, sumac,
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berry churo, and huckleberry cobbler, signaling that innovation will continue
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to thrive alongside the classics. Our flavor Laboratory has noticed
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that brands are beginning to capture unique variations of classic
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flavor profiles. For example, we've received an increasing number of
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requests for Yuzoo, which evokes a fusion of different citrus notes,
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said Flavorman's chief flavorist, Tom Gibson. Consumers are still craving
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the familiar favorites, beverage brands are simply finding creative ways
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to deliver that. Reflecting on his twenty twenty five predictions,
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Flavorman once again demonstrated its accuracy, particularly in predicting the
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surge of sober curious consumers and the rapid rise of
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non alcoholic spirits and mocktail categories. With demand continuing to accelerate,
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the beverage architects anticipate even greater innovation in twenty twenty six,
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including elevated mocktails with added adaptogens and more flavor profiles
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replicating the taste of traditional spirits. Flavorman's twenty twenty six
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outlook also indicates that renewed consumer focus on functional ingredients
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centered around wellness, Flavorman's beverage architects expect to see growth
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in clean label, naturally energizing options, especially caffeinated alternatives to
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conventional energy drinks and coffee. Ingredients such as Cascara, urba
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Mate and other functional tea blends are positioned to break
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through as brands look to meet the rising demand for
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beverage that supports both energy and well being. As consumers
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increasingly prioritize wellness and vitality. Flavorman notes that shifting regulatory
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dynamics are shaping the beverage industry. The US Department of
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Health and Human Services and the Food and Drug Administration
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recently announced plans to phase out certified color additives, a
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move already reflected in industry behavior Flavorman's beverage architects have
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already observed this shift among clients, noting a decrease in
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new projects utilizing FD and C colors. Regulatory uncertainty is
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also rippling through the fast growing hemp derived THHC category,
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despite a growing market for such products. This comes in
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tandem with the recent changes to the twenty eighteen Farm
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Bill that will ban hemp derived THHC products in the
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US by late twenty twenty six. Flavorman anticipates that this
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shift will influence development strategies as brands navigate compliance, consumer demand,
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and the evolving legal landscape. The regulatory landscape for hemp
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derived THHC has always been uncertain, and we anticipated changes
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like these would eventually come, says Flavorman Director of Quality Systems,
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Matthew Fuller. Hemp companies now have a unique opportunity to
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rally support from their consumer base that helped grow a
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twenty eight billion dollar industry, so a lot can change
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in a year. On the branding side, Flavorman previously predicted
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a wave of customization from flavor cartridges to variety packs
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as consumers sought greater control and personalization in their beverage
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experiences for twenty twenty six. The company expects this momentum
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to evolve into premium products through convenience as brands increasingly
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lean into bulk unit sales, expanding their presence in e
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commerce channels, and prioritizing distribution strategies that insure products are
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available wherever consumers choose to shop. Flavorman, headquartered in Louisville, Kentucky,
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partners with brands of all sizes to bring innovative beverage
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ideas to market. From formulation and ingredient selection to production
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planning and quality control. Flavorman has been instrumental in developing
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more than eighty five thousand unique beverage formulations across every
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major category. About Flavorman. Founded by David Defoe in nineteen
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ninety two, Flavorman is an industry leading custom beverage development
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company based out of Louisville. The beverage architects create custom
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made recipes and flavors for each individual client. For over
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thirty years, Flavorman has led the beverage industry as a
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single source partner in beverage architecture and product development. Flavorman's
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clients range from start up entrepreneurs to major international players
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in the global marketplace. Flavorman's seventy seven thousand square foot
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headquarters is one of the most extensive beverage development facilities
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in the United States, featuring a state of the art,
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fully equipped flavor laboratory, analytical testing laboratory, research and development, laboratory, warehouse,
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and full scale production facility. Flavorman's in house capabilities, industry expertise,
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and product innovation offer its clients a wide range of
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services to turn their great ideas into money making beverages.
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The next article comes from the December one, twenty twenty
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five edition of Here Lexington and is titled Third Street
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Stuff and Coffee Workers in Lexington push for unionization. Employees
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at Third Street Stuff and Coffee are actively pursuing unionization
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to address workplace concerns and enhance their working environment. The
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initiative aims to establish better communication between staff and management,
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ensure consistent cleaning protocols, and secure adequate break times for workers.
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Unionization efforts and objectives led by an organized group of employees.
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The primary focus of the unionization effort is to enhance
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formal communication between staff and ownership, implement standardized cleaning protocols,
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and guarantee physical breaks for workers. Employees feel that their
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insights have not been fully considered by management, prompting the
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need for a structural avenue for expression. Additionally, staff have
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raised concerns over inconsistent cleaning standards and the absence of
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essential cleaning equipment, which has led to innovative, albeit makeshift
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solutions for maintaining cleanliness. Notably, the unionization effort does not
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include demands for increased pay, communities, support and fundraising. The
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workers have initiated a fundraising campaign to support their unionization efforts,
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aiming to cover legal fees and provide financial assistance for
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basic needs in the event of reduced hours or wages
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during the process. This initiative highlights the strong community backing
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for their workers' rights and their dedication to improving workplace conditions,
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reflecting a culture of collective support in Lexington that fosters
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resilience among local businesses. Background on Third Street Stuff and Coffee.
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Third Street Stuff and Coffee has established itself as a
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beloved venue in Lexington, lauded for its vibrant, inclusive atmosphere.
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The worker's choice to unionize is emblematic of a larger
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trend within the coffee industry, where employees across the country
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are increasingly advocating for enhanced working conditions and fair treatment.
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This trend serves as a reminder of the ongoing conversations
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around workplace rights that are shaping labor relations within the
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sector industry context. The unionization initiatives at Third Street Stuff
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and Coffee resonate with a nationwide movement among coffee shop
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workers aiming to achieve improved working conditions and equitable treatment.
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Examples of similar movements include the efforts of Starbucks Workers United,
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which has seen organized strikes at numerous locations across the country.
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This rising tide of activism among coffee shop employees signifies
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a fundamental shift in the labor dynamics of the coffee
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industry as workers endeavor for greater influence and protection in
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their professional environments. Conclusion, the unionization efforts at Third Street
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Stuff and Coffee signify a critical advancement towards better workplace
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conditions and the establishment of a more communicative relationship between
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employees and management. As this movement unfolds, it will be
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vital to observe the outcomes and their broader implications for
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labour dynamics in both the coffee industry and the state
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of UA Kentucky. The next article from here Lexington is
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titled Valveleene Incorporated completes acquisition of Breeze Autocare. Valveleen Incorporated
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has finalized its acquisition of Breeze Autocare, a provider of
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automotive quick glub and preventative maintenance services operating under the
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oil Changer's brand. The transaction, valued at approximately five hundred
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ninety three million dollars, was completed on December first, twenty
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twenty five. This strategic move significantly expands Valvelene's service center
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network across the United States and Canada, adding nearly two
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hundred locations to its portfolio details of the acquisition. The
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acquisition was financed through a newly issued seven hundred forty
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million dollar term loan B. Following the completion of the deal,
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Valveleen divested forty five Breeze Autocare stores to main Street
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Auto Express Oil LLC, as required by the Federal Trade
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Commission to gain clearance for the transaction. Strategic significance. With
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the integration of Breeze Autocare, Valveleene aims to accelerate its
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growth trajectory by immediately increasing the number of stores within
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its network and expanding its customer reach. The addition of
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Breeze Autocare Services reinforces Valveleene's position as a leading provider
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of preventative automotive maintenance services background information. Founded in nineteen
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eighty four, Breeze Autocare operates predominantly under the Oil Changer's brand,
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offering automotive quick loob, car wash and light repair services.
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Prior to the acquisition, Breeze Autocare served over one point
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eight million customers annually. Valveleen Incorporated as a leading provider
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of preventative automotive maintenance services, Operating more than twenty three
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hundred franchise and company operated service centers across the United
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States and Canada. The company completes over thirty million services annually,
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including oil changes in various manufacturer recommended maintenance services. Key
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takeaways from the acquisition. The acquisition of Breeze Autocare signals
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a substantial commitment by Valveleine to enhance its operational capabilities
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and market presence. Valvelin strategic buy reflects a broader trend
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seen in business sectors where private investment and consolidation lead
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to improved efficiency and service delivery. This is particularly valuable
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in the automotive service sector, where customers trust and reliability
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are paramount. The move also illustrates the effectiveness of the
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current business climate, where entrepreneurs and established players alike leverage
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opportunities for growth through partnership and acquisitions. Valveleene's ability to
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navigate regulatory requirements while ensuring an effective expansion plan showcases
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the firm's robust operational strategy. Conclusion, the acquisition of Breeze
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Autocare by Valvelene signifies a dynamic shift in the automotive
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service landscape. With nearly two hundred additional service centers, Valveleene
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is well positioned to enhance its market share and customer
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service capabilities across Lexington and beyond. This expansion not only
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highlights Valvalene's entrepreneurial spirit, but also underscores the ongoing need
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for local support of small businesses and established industry leaders alike.
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As Lexington continues to thrive on innovation and business ingenuity,
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residents are encouraged to stay engaged with local enterprises and
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the broader economic movements within the city. The growth of
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such partnerships only strengthens the community and fosters a ibern
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economic environment. The next article comes from the December two,
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twenty twenty five edition of The Courier Journal and is
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titled Costco sues US to preserve tariff refunds if Trump
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loses appeal, written by James Powell. Wholesale retail giant Costco
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has sued the federal government to ensure it will receive
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a complete refund on import duties if the Supreme Court
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rules against President Donald Trump's sweeping tariffs. The lawsuit, filed
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in the US Court of International Trade in New York
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on November twenty eighth, and reviewed by USA Today, asked
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the court to find Trump's use of the International Emergency
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Economic Powers Act to impose tariffs as unlawful. Costco, the
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largest warehouse club operator in the United States, said it
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has been the importer of record for products affected by
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the tariffs, but did not provide a specific dollar amount
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it is seeking in damages. The corporation noted in the
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filing that the suit was necessary because importers are not
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guaranteed to receive a refund if the High Court strikes
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down the tariffs unless they sue. Costco also claims in
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the lawsuit that Customs and Border Protection CBP denied its
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request to delay the calculation of the total tariffs that
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it owes. The lawsuit claims that Costco's ability to receive
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a refund will be significantly impacted if those calculations are completed.
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The suit is separate from the larger case challenging Trump's
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tariffs that the Supreme Court heard on November five. Other
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companies have sued to preserve refund rights, but the Issaquah,
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Washington based retail warehouse club operator is among the largest
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to sue the administration so far. Others that have sought
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to protect tariff refunds include Bumblebee Foods, Sak Motors, Revlon
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in Yokohama Tire. Court records show Costco and the CBP
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did not immediately respond to USA Today's request for comment
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on December one Razor close case. During nearly three hours
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of debate on November fifth, Supreme Court justices questioned whether
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Trump has the power to impose sweeping tariffs on most
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imports using the nineteen seventy seven International Emergency Economic Powers Act.
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Several legal experts said the justices questions reveal a lot
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about where they stand on Trump's policy. Ashley Acres, a
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former Justice Department attorney now with the law firm Holland
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and Knight, previously told USA Today that she heard a
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notable skepticism from justices across the ideological spectrum. Overall, it
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felt like a strong day for the tariff challengers, though
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it feels like this will be a razor close case.
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Akers said several justices were concerned that if they sided
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with Trump, Congress would lose control over tariffs, even though
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the Constitution gives that power to lawmakers, said Curtis A. Bradley,
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an expert on foreign relations law at the University of
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Chicago Law School. Oliver Dunford, an attorney with the libertarian
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Pacific Legal Foundation, said the case is complicated enough without
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a majority of the court focusing on just one legal argument.
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If I had to guess, Dumfort said, I'd guess that
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the Court will rule against the President without agreeing on
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the reason. The Supreme Court took the tariff case on
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an accelerated basis, but has not said when it will rule.
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Trump argues the tariffs are justified to reduce an annual
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US trade deficit, that he declared in April amounted to
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a national emergency. This concludes the reading of the most
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recent business news in Lexington, Louisville, and around the state.
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Your reader today has been Julia Shame. If you have
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any questions or comments about this program, please give our
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Lexington Studios a call at eight five nine four two
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two six three nine zero. Thanks for listening, and now
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please stay tuned for readings from the Kentucky series here
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on Radio I