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2.5.26 · Kentucky Business News

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  Speaker 1: Hello. Today, I'll be reading from business sources in Lexington
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  and Louisville, including the Lane Report and others from around
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  the Commonwealth. Your reader today is Julia Shane. As a reminder,
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  RADIOI is a reading service intended for people who are
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  blind or who have other disabilities that make it difficult
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  to read printed material. Our first article comes from the
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  February third, twenty twenty six edition of The Lane Report
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  and is titled more than one hundred seventeen million dollars
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  secured in federal funding for Kentucky Transportation and Economic Development.
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  US Senator Mitch McConnell, Republican Kentucky, announced today that he
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  secured one hundred seventeen million dollars in federal funding for
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  Kentucky Airport's highways and economic development projects included in the
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  Fiscal Year twenty twenty six Appropriations for Transportation, Housing, and
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  Urban Development, which passed the Senate. As a senior member
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  of the Senate Appropriate Creation's Committee, Senator McConnell played a
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  key role in shaping the legislation. The measure now goes
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  to President Trump for his signature. The projects secured by
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  Senator McConnell in the bill include Kentucky economic development projects
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  totaling more than fifty million dollars. Twenty million dollars to
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  construct the new Cave City Area Agricultural Exposition Center in
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  Barron County. This project will see the establishment of a
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  new agricultural center to host a number of different events
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  and foster economic development. Eleven million dollars for the McCreary
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  County Heritage Foundation. Funding will be used to facilitate planning, design,
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  and construction of a number of improvements intended to foster
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  economic development in the community. Seven million dollars for Louisville
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  Metro Government. The City of Louisville will use this funding
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  to redevelop crumbling infrastructure at the Belvedere. Six million, six
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  hundred thousand dollars to build a new childcare facility in Owensboro.
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  The City of Owensboro is facing a shortage in childcare
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  facilities in the Owensboro Family YMCA, in response, aims to
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  redevelop an existing building to increase childcare availability. Four point
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  five million dollars for the City of Covington. The Covington
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  Central Riverfront Podium and land Bridge Infrastructure project will see
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  new construction of a new pedestrian friendly connection for the
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  city's newest mixed use business district on the site of
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  the former IRS facility. One million, four hundred and fifty
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  thousand dollars for the Southern Pulaski Economic Development Authority SPEEDA
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  Speedo will construct an overpass to connect an emerging business
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  park with Kentucky Highway eighty how Rogers Parkway via Barnsburg Road.
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  The next article from the Lane report is titled Business
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  and Community Leaders Discussed Strategy at b NKY Annual Forum,
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  written by David Rotenstein. Nearly two hundred business and community
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  leaders mingled over coffee and breakfast as b NKY Growth Partnership,
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  a regional economic development company, held its annual forum on
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  January thirtieth at Turfway Park, Racing and Gaming. B NKY
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  CEO Lee Kroume introduced keynote speaker Amy Halloway, President of
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  consulting firm AHA Advisors. Kroum laid the groundwork for Halloway
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  by explaining what b NKY does. We work with clients
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  typically through what we call the site selection process. Kroom said.
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  It's a corporate process of making decisions on where to
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  invest and grow their businesses. Kroum described the process as
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  risky and challenging. Yet, since nineteen eighty seven, b NKY
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  and its predecessor, Northern Kentucky tri Ed worked with eight
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  hundred and fourteen unique business projects that created approximately seventy
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  nine thousand jobs in Northern Kentucky. B Inky Krim explained
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  has three service lines, growth, strategy, and working with the
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  Northern Kentucky Port Authority in the site selection process. Key
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  achievements Kroom highlighted included the recent former Durobag and c
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  Ando Roadhouse complex acquisition, spark House, and the one Inky Center.
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  Kroom ticked off other accomplishments. While describing Northern Kentucky as
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  a prosperous region, he urged attendees to see the region's
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  challenges as positive indicators. There's no doubt that in our
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  lives that we have friction. Some of you will drive
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  home tonight. Kroom said to me, that is a really
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  positive friction. That's good friction. That's the friction that you
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  get from a growing community. Halloway was a consultant along
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  with Ernst and Young to be in Ky for the
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  production of the twenty twenty six Target Industry Study. That's
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  what we're here to talk about today is what that
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  targeting looks like for you, and specifically which industries we
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  recommend that you focus your economic development efforts, Halloway said.
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  Halloway framed her discussion in terms of what she described
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  as target clusters, an approach that takes a holistic approach
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  to economic development instead of a singular business attraction. One
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  cluster driven approach means that we're tackling this from all
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  sorts of different angles, she said. The region, according to Halloway,
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  should be focused on targeting for industry clusters advanced manufacturing,
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  information technology, life sciences, and supply chain management and services.
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  Halloway also spoke about workforce development and adapting to external pressures,
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  including the uncertainties surrounding the Trump administration's tariff policies, demographic
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  changes in the local workforce, and the role automation is
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  playing in the local economy. Focused positive messaging about the
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  region's innumerable assets, Halloway said, is key to economic success.
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  If you can continue to get that message out loudly
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  and clearly to companies in this field, the opportunities are
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  going to be extraordinary and you're going to be able
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  to drive growth here in the way that you want
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  it to happen and achieve that future that you all
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  have in mind for the community. Halloway stressed. The next
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  article from the Lane Report is titled dan Oh's Seasoning
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  expands into dip category with four iconic flavors. Dan O's Seasoning,
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  the brand that revolutionize the spice world with its all natural,
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  no junk philosophy, is officially stepping out of the shaker
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  and into the bowl. Today. Dan O's is announcing the
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  launch of their first ever dan Oh's Dips, a line
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  of bold, dry mist seasonings designed to bring even more
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  flavor to the table. The Louisville based seasoning brand is
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  expanding beyond traditional seasonings with four flavors Ranch, French, Onion, Dill,
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  and Mexi Ranch. Fans are encouraged to treat these dry
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  mixes as a flavor utility system because they are built
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  on the dan O's clean label standard. They are perfect
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  for mixing into sour cream, swirling into mashed potatoes, or
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  crusting onto chicken. Whatever we make, it's going to bring
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  big flavor. That's the dan O's way. We made these
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  dry mixes to be the ultimate kitchen sidekick, said Dan Oliver.
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  Founder of dan O's Seasoning. This isn't just about dipping
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  a chip. You can stir them, fold them, or sprinkle them.
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  Whether it's a creamy Mexy Ranch, pasta sauce or the
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  best dill potatoes you've ever had, We're just giving you
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  more ways to dip it. Dantastic the flavor line Ranch,
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  the classic elevated with the signature dan O's Punch French Onion, Deep,
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  savory and ready to dominate your next pot luck. Dil bright,
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  zesty in the perfect cheat code for seafoods and vegetables.
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  Mexi Ranch, a bold, spicy twist on the fan favorite
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  that brings the heat and the heart. Where to buy.
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  Flavor seekers won't have to wait long to get their
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  hands on dan Oh's dips. The dip mixes are available
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  for order right now at Dan'so Seasoning dot Com, Amazon,
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  and on TikTok shop. The product will also be hitting
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  retail shelves and waves, Public's arriving in February, Kroger arriving
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  in April, Meyer arriving in July. This expansion marks the
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  new chapter for dan O's as they continue to dominate
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  the flavor space, proving that their signature all natural, no
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  seed oil, non GMO kosher philosophy can work in the
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  aisle of any grocery store. The next article from the
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  Lane Report is titled What will Happen in the Bourbon
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  Industry in twenty twenty six? Written by Kevin O. Stennett.
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  As we head into twenty twenty six, the bourbon world
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  finds itself at a crossroads. After more than a decade
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  of explosive growth and near constant scarcity on shelves, the
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  industry is entering a period of recalibration, creativity, and consumer
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  driven change. Here's what bourbon enthusiasts, from casual sippers to
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  serious collectors, should expect this year. Market shift from boom
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  to balance. After years of rapid expansion, the bourbon boom
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  has moderated. Massive inventories, particularly here in Kentucky, which now
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  has over sixteen million barrels aging in rick houses, have
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  shifted the narrative from shortage to oversupply. Major producers are
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  responding accordingly. Jim Beam is pausing production at its flagship
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  Claremont distillery for all of twenty twenty six to better
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  align output with demand and invest in facility upgrades. The
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  industry as a whole is embracing more discipline production, aiming
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  to harmonize supply with actual consumption trends. This trend should
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  bring fewer panic by shortages and more stability on shelves,
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  with some previously allocated bottles potentially becoming more accessible pricing
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  and value a more rational market. High inflation in sky
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  high collector prices marked much of the past decade, but
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  twenty twenty six is beginning to feel more value oriented.
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  Core bottles in the thirty dollars to seventy dollars range
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  are gaining renewed attention as consumers drink more thoughtfully rather
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  than chasing hype. Premiumization isn't dead, but it must now
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  be justified. Consumers want real reasons for price jumps, such
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  as age statements, providence, and meaningful craft credentials, not merely prestige.
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  Expect limited editions to survive, but with a sharper consumer
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  focus on quality over scarcity. Theater What's coming to shelves
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  in twenty twenty six, Collectors and enthusiasts have some exciting
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  releases to look forward to, especially in the ultra aged
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  and rare category four roses Potential twenty one year Anthology
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  Origin Bourbon possibly the oldest four roses ever bottled. Blade
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  in Bow's thirty year Bourbon, an extraordinary age statement that's
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  almost unheard of in the category. Special expressions from Heaven
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  Hill and others hint at collaborative or blended masterpieces, pushing
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  creative boundaries. While some releases remain speculative until official announcements,
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  twenty twenty six promises rare bottles that will make collector's
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  hearts felt. Barrel trends, science and sustainability, and secondary markets
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  barrels continue to shape Bourbon's evolution, both literally and economically.
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  Used Bourbon barrels are in demand not just for spirits,
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  but across brewing, craft, distilling, and even food and beverage sectors,
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  driven by sustainability and heritage appeal. Finishing techniques aren't disappearing,
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  they're getting more thoughtful. Novol cask types rum wine, for example,
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  will still be used, but with greater intention and transparency.
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  As warehouses juggle huge inventories, suppliers and cooperages are adapting
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  to meet global barrel demand with tighter quality controls. In essence,
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  barrels are evolving from marketing tools to taste, design, instruments,
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  and the secondary barrel market itself is a story worth watching.
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  Whiskey styles, More Diverse, City, More Choice twenty twenty six
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  isn't just about bourbon. It's about diversification within American whisky.
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  American single malt continues gaining traction as a distinct category
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  with increasing recognition and quality. Rye whiskys renaissance broadens with
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  innovative mash bills and hybrid styles expanding beyond the classic
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  spicy profile. Blending, once seen as utilitarian, is now a
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  craft discipline, with brands turning sophisticated blends into their signature offerings.
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  This variety gives drinkers more ways to explore and appreciate
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  American whiskey outside traditional bourbon formats, consumer habits, and cultural shifts.
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  The way people drink bourbon is changing. Slowing overall alcohol consumption,
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  notably among younger adults, is affecting demand. Sessionable lower proof
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  products are growing alongside high proof enthusiasts, releases, mindful drinking culture,
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  and wellness trends mean consumers are choosing quality over quantity.
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  Expect bourbon brands to respond with clearer, purpose built offerings,
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  whether for cocktails, contemplative sipping, or special occasions. Final word,
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  A smarter bourbon world twenty twenty six isn't a year
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  of collapse. It's a year of maturation. The industry is
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  shedding the narrative of endless boom and instead embracing balance, creativity,
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  and responsiveness to what modern drinkers usually want. From stable
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  pricing and intelligent production to unique releases and evolving beryl science,
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  Bourbon's future looks thoughtful, flavorful, and full of stories worth sipping.
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  The next article comes from the February fourth, twenty twenty
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  six edition of here Lexington and is titled India and
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  US Finalized Trade Agreement. What it means for both nations.
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  Key deal linked to terror production, energy purchases, and agricultural protections.
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  The recent finalization of a significant trade agreement between India
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  and the United States represents a transformative moment in diplomatic
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  and economic relations between the two nations. By reducing U
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  S tariffs on Indian goods from twenty five percent to
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  eighteen percent in securing India's commitment to cease importing Russian
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  crude oil. The deal aims to foster productive economic partnership Furthermore,
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  India will purchase five hundred billion dollars worth of American goods,
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  covering vital sectors such as energy, agriculture, and coal products.
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  The agreement is being heralded as a potential catalyst for
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  economic growth and trade enhancement for both countries. Prime Minister
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  Narinda Modi's government has received praise for this achievement, which
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  is anticipated to benefit Indian exports orders who have been
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  confronted with high tariffs on their products. With this agreement,
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  the hope is that local businesses will see improved competitiveness
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  through reduced trade barriers. However, it's essential to consider multiple perspectives,
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  particularly the implications for sensitive agricultural and dairy sectors in
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  India that play a crucial role in the country and
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  employ a significant portion of the population. Detailed aspects of
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  the agreement. The trade agreement includes several pivotal elements. One
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  terraff reduction. US tariffs on Indian goods will be lowered
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  from twenty five percent to eighteen percent, allowing easier access
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  for Indian products in the American market. Two, cease of
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  Russian oil imports. India has committed to halting its imports
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  of Russian crude oil, aligning itself with US policy expectations.
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  Three purchase commitment, a significant pledge where India will procure
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  five hundred billion dollars in American goods, significantly enhancing bilateral trade.
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  Four Protection of sensitive sectors. The agreement is touted as
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  protective of crucial sectors such as agriculture and dairy, ensuring
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  that Indian farmers are not adversely impacted by increased competition.
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  And five analysts caution. Experts call for clarity on specific
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  products covered by the deal, timelines for terra productions and
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  the elimination of non tariff barriers, as well as skepticism
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  regarding the feasibility of meeting the five hundred billion dollar
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  import target. Political reactions. While the ruling coalition has praised
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  Prime Minister motive for securing this deal, opposition parties have
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  voiced concerns about its potential impacts on India's agriculture and
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  dairy industries. They argue that the agree may expose these
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  sectors to heightened competition without adequate protections. The debate surrounding
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  this agreement reflects the complex dynamics of international trade and
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  domestic economic security. Trade Minister's assurance. In response to opposition criticisms,
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  Trade Minister push Goyal has assured that the agreement offers
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  necessary safeguards for India's agriculture and dairy sectors. He emphasized
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  that this deal is comparatively more favorable than agreements with
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  neighboring countries, which could enhance India's standing in regional trade.
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  Economic implications. This agreement follows months of negotiation and has
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  emerged from previous tensions over imposing steep tariffs in India's
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  energy policies. The reduction in tariffs not only aims to
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  ease trade, but also to strengthen the economic fabric tying
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  India in the United States together. As both nations navigate
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  evolving global markets, this deal could serve as a springboard
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  for further cooperation on commerce and investment. Looking ahead, as
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  analysts and stakeholders closely monitor the implementation of this trade agreement,
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  the emphasis will shift to evaluating its real world impacts
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  on both Indian and American economies. The ability to meet
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  ambitious import targets, safeguard sensitive sectors, and respond to market
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  conditions will be critical as these two nations look to
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  solidify their economic partnership and drive growth. Summary and call
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  to action. The newly established trade agreement between India and
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  the United States represents a significant opportunity for economic growth
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  and development across sectors. While it is essential to acknowledge
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  the concerns of various sectors, this deal could pave the
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  way for greater collaboration in entrepreneurs innovation. Engagement from communities
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  and local businesses will be vital as both countries move
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  forward together. As Lexington, Kentucky continues to embrace entrepreneurship and innovation,
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  keeping an eye on international partnerships and trade developments like
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  this can inspire local economic growth. The next article from
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  here Lexington is titled Pepsi COO's price reductions signal strategic
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  shift for twenty twenty six. Company takes steps to combat
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  declining demand and streamlined product offerings. Pepsi Co Incorporated, a
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  major player in the snack and beverage industry, has recently
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  announced a series of strategic initiatives aimed at revitalizing its
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  market presence. These changes come amid declining consumer demand and
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  affordability concerns that have affected sales across its popular brands,
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  including Lays, Dorito's, Cheetos and Tostitos, highlighting the resilience and
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  adaptability of corporations in today's economy. PepsiCo's decisions reflect a
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  proactive approach to addressing current market challenges. As of February third,
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  twenty twenty five, PepsiCo's stock price stood at one hundred
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  sixty two dollars in eighty five cents, following a modest
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  increase of zero point zero five percent from the previous close.
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  The company aims to bolster its financial performance while ensuring
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  product accessibility for consumers, which is particularly crucial as inflationary
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  pressures continue to impact household budgets. The latest report indicates
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  that the company has been facing a decline in snack
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  sales volumes by one percent and a staggering four percent
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  drop in North American beverage volumes, sparking the need for
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  immediate action price reductions in response to consumer demand. In
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  a significant move, PepsiCo has announced a price reduction of
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  up to fifteen percent on its key snack brands. This
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  decision comes after a period of price hikes driven by
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  increased costs and packaging, ingredients and transportation. CEO Ramon Laguta
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  emphasized that the company had previously tested price reductions which
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  effectively boosted sales volumes, indicating a deliberate effort to understand
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  and adapt to consumer preferences. By lowering prices on their
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  popular snacks, Pepsiico hopes to not only increase sales, but
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  also enhance brand loyalty. This initiative arrives just in time
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  to potentially capitalize on heightened consumer spending around major events
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  such as the Super Bowl, which often sees an uptick
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  in snack purchases. Streamlining product offerings. Additionally, Pepsiico has announced
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  plans to streamline its product portfolio by eliminating nearly twenty
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  percent of its offerings, a strategic move likely influenced by
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  recent investments from activist group Elliot Investment Management. This initiative
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  is poised to help the company focus on its most
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  profitable and in demand product lines, thereby enhancing overall operational efficiency.
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  A streamlined approach is anticipated to result in cost savings
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  that can further facilitate investments in critical areas such as
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  health oriented product development. Focus on healthier products aligning with
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  shifting consumer preferences. Pepsi Co is also prioritizing the introduction
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  of healthier product lines. The company aims to deliver snacks
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  and beverages with fewer artificial ingredients while incorporating added nutritional
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  benefits like protein and fiber. New offerings such as Doido's
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  Protein and Pepsi Prebioti are already witnessing strong consumer interests,
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  indicative of a growing market for health oriented products. Market
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  response and stock performance. The market has responded positively to
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  these strategic announcements, with PepsiCo shares climbing two point five
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  percent following the news. Investors appear to be optimistic about
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  the company's direction, favoring proactive adaptations that prioritize consumer affordability
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  and product innovation as economic indicators face uncertainty. The stock
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  market's response highlights confidence and PepsiCo's ability to navigate challenges
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  effectively conclusion a forward thinking strategy. In summary, PepsiCo's recent
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  initiatives demonstrate commitment to adapt to the changing landscape of
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  consumer demand while bolstering its market position By implementing price
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  reductions and focusing on healthier product lines. The the company
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  aims to enhance affordability and strengthen consumer relationships as the
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  landscape for businesses continue to evolve. PepsiCo's approach serves as
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  a noteworthy example of how innovation and responsiveness can lead
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  to sustained success. Our next article comes from the February fourth,
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  twenty twenty six edition of the Louisville Courier Journal and
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  is titled Ford says January sales down five point three
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  percent as it discontinues two popular SUVs, written by Jamie LaRue.
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  Ford Motor Company reported its January US sales came in
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  lower than a year ago period, brought down in part
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  by the discontinuation of some models, but the automaker did
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  see strong sales of its smaller pickup trucks. On February fourth,
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  Ford reported that for the month of January, it sold
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  one hundred thirty five thousand, three hundred sixty two vehicles
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  in the United States, down five point three percent from
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  one hundred forty two thousand, nine hundred forty four sold
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  in January of twenty twenty five. Sales for Ford's luxury
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  brand Lincoln rose nine point eight percent to seven thousand,
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  one hundred two vehicles sold in January, but sales for
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  the Ford brand dropped six percent to one hundred twenty
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  eight thousand, two hundred sixty vehicles sold. Most analysts have
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  been predicting January sales across the industry would be lower
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  than a year ago period, citing the severe snowstorm nationwide
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  that may have kept some buyers home bound, and the
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  fact that January is historically a slower than usual sales month.
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  Although this January had twenty six selling days compared with
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  the year ago period at twenty five, Ford had strong
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  sales in January, with gains coming from America's most affordable pickup,
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  the Maverick, and larger sguvs with Expedition, Explorer and Bronco,
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  along with Ranger and Transit vans. Ford spokesperson Sae deep
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  set in an email. While Ford total sales were off
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  five point three percent over last January, some can be
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  attributed to the sunsetting of the Ford Escape and Lincoln Coursair.
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  Customers can continue to find both vehicles on dealer lots.
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  Ford also saw a fifty point four percent increase in
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  Mustang sales for the month. In fact, the car division
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  was the only division within Ford to sea gains in January.
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  Ford's SUV sales were down two percent. Its truck sales
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  plunged nine point two percent, but sales of cars rose
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  fifty point four percent. Toyota saw an eight point one
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  percent increase from the year ago period. In January, Ford
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  reported its EV sales had plummeted sixty nine point two
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  percent after the expiration of the federal tax incentive on
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  September thirtieth. This concludes the reading of the most recent
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  business news in Lexington, Louisville, and around the state. Your
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  reader today has been Julia Shane. If you have any
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  questions or comments about this program, please give our Lexington
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  Studios a call at eight five nine four two two
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  six three nine zero. Thanks for listening, and now please
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  stay tuned for readings from the Kentucky series here on
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  RADIOI