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1.8.26 · 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 are 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 fifth, twenty twenty sixth edition of The Lane Report
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and is titled Kentucky ranks Number seventeen in U Haul
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Growth State list for twenty twenty five. Kentucky is the
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number seventeen growth state of twenty twenty five. According to
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U Haul Growth Index migration data analyzing one way customer
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transactions from the past calendar year, Kentucky climbs eight spots
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from its number twenty five growth ranking in twenty twenty
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four to eclipse its previous highest ranking on the U
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Haul Growth Index of eighteenth. Back in twenty twenty, U
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haul customers arriving in Kentucky accounted for fifty zo point
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two percent of all one way traffic in and out
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of the state last year forty nine point eight percent
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leaving Compared to twenty twenty four U Haul customers coming
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to Kentucky fell one percent year over year, while departures
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fell two percent, with fewer residents leaving a greater portion
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of the state's one way moving traffic was incoming. States
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are ranked by their net gain or loss of U
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haul customers who rented a one way truck trailer or
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U box portable moving container in one state and dropped
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off their equipment in another state. The U Haul Growth
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Index is compiled from more than two point five million
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one way U haul transactions that occur annually in the
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US and Canada. We have a lot of people coming
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to Kentucky from neighbor states like Indiana and Ohio, said
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Jeff Porter, U Haul Area District, Vice President of Kentucky
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and Tennessee. There have been a lot of industries moving
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into Louisville. The job growth and economic opportunit unities there
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are great. Outside of Kentucky's cities, the countryside is beautiful.
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We also have low taxes, a low cost of living,
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and there is little unemployment. The Bluegrass State's notable growth
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markets include, in alphabetical order, Bardstown, Berea, Bowling Green, Covington, Elizabethtown, Elsmere, Georgetown, Lawrenceburg, Lexington, Nicholasville,
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Oak Grove, Owensboro, Paducah, Shelbyville, and Walton. Texas, Florida, North Carolina, Tennessee,
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and South Carolina are the top five growth states of
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twenty twenty five. It's the same top five from twenty
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twenty four. In twenty twenty three, although in a different
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order after Texas supplanted South Carolina for the top spot
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to make the lone Star state the leading growth state
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for the seventh time in ten years. California ranks fiftieth
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for the sixth year in a row, with the largest
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net loss of one way U haul customers. Massachusetts, New York,
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New Jersey, and Illinois are also among the bottom five.
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Oregon plus twenty three spots, Mississippi plus eighteen, Colorado plus seventeen,
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Nevada plus fifteen, New Mexico plus fifteen, Louisiana plus thirteen,
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and Montana plus twelve are the biggest year over year
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climbers on the U Haul Growth Index. Ohio minus twenty
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nine spots, Virginia minus nineteen, Indiana minus seventeen, Iowa minus twelve,
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Delaware minus twelve, and Nebraska minus ten saw the biggest
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year over year slides. While rankings may not correlate directly
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to population or economic growth, the U Haul Growth Index
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is an effective gauge of howwell states, metros, and cities
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are attracting and maintaining residents. U haul is the authority
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on migration trends thanks to its expansive network that blankets
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all fifty states and ten Canadian provinces. The geographical coverage
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from m more than twenty four thousand rental locations provides
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a comprehensive overview of where people are moving like no
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one else in the industry. Celebrating eighty years of moving
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families to a better life, U haul is a veteran
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founded and family run organization that benefits the environment through
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its shared use business model. When communities share U haul
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rentals to meet their moving needs, personal ownership of large
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capacity vehicles to transfer belongings becomes unnecessary. Sustainability initiatives such
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as adaptive reuse, the repurposing of existing buildings for stores,
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truck modifications to improve fuel economy, and plastic ready to
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go boxes that are shared hundreds of times before being
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recycled are among the ways U haul promotes green business.
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U box load Share the latest ue haul sustainability program
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has earned multiple awards for its eco friendly solution in
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today's gig economy. Founded in nineteen forty five, u haul
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is the number one choice of do it yourself movers
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with more than twenty four thousand rental locations across all
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fifty states and ten Canadian provinces. The u haul app
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makes it easy for customers to use UL truck Share
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twenty four to seven to access trucks any time through
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the self dispatch and return options on their smartphones with
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our patented live verified technology. Our customer's patronage has enabled
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the U haul fleet to grow to approximately two hundred
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and three thousand trucks, one hundred thirty seven four hundred trailers,
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and forty one thousand, seven hundred towing devices. U haul
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is the third largest self storage operator in North America
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and offers one million, one hundred eleven thousand rentable storage
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units and ninety six point five million square feet of
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self storage space at own and managed facilities. The next
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article from the Lame Report is titled ge Profile unveils
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game changing smart refrigerator with kitchen Assistant. Ge Profile is
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transforming a kitchen mainstay from a passive appliance into a
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groundbreaking intelligent hub. It today unveiled the ge Profile twenty
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seven point nine cubic feet smart four door French store
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refrigerator with kitchen assistant ahead of the Consumer Electronics Show
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ces in twenty twenty six. This smart device redefines the
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role of the refrigerator, takes the guesswork out of grocery shopping,
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streamlines meal planning, and helps reduce food waste. Now consumers
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can finally break the daily cycle of wondering what's for dinner.
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With busy lives and constant pressure, struggling to remember what
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to buy for all members of a household becomes a
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leading chore. The ge Profiles Smart Refrigerator delivers the ultimate
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solution with its first of its kind built in scan
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to List bar code scanner seamlessly positioned in the exterior dispenser.
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This patented innovation tackles the universal pain point of grocery
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guesswork by delivering precise, aer free tracking that simplifies routines
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for the whole household. With more than four million products
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recognized in the appliances Scan to List solution, users simply
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scan any grocery or household item running low, and the
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fridge automatically adds it, complete with brand, flavor and size,
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to a digital, sharable shoppable grocery list in the smart
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hq app. This shared list can be referenced while shopping
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in the store or sync directly to Instacart for delivery
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in as fast as thirty minutes, minimizing forgotten essentials, streamlining
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routines for busy households, and reclaiming precious time. For non
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bar code items, users can easily add them via voice
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or TEXTXT on the refrigerator or in the smart HQ app.
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The ge Profile Smart Refrigerator with Kitchen Assistant builds on
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our legacy of kitchen breakthroughs by delivering solutions that adapt
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to real lives and solve universal stressors such as meal decision, fatigue,
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and grocery shopping, said Jason May, Executive product director of
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French Store Refrigeration. At ge Appliances, we're creating intuitive experiences
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that feel natural and effortless, turning the refrigerator into a
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true kitchen companion that evolves with families over time. Through
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this innovative refrigeration solution, ge Profile is also helping reduce
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food waste while saving owners time and money. With Fridge Focus,
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a smart solution that tackles the everyday frustration of overbuying
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perishables and forgotten fridge contents. Integrated into a flush mount
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led bar, this camera delivered real time, on demand snapshots
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of crisper drawers, focusing on the most costly imperishable items.
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Integrated with the AI powered vision system, it empowers anyone
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in the household to remotely check inventory while shopping, simplifying
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planning and preventing duplicates. For atted control, users can easily
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turn off the camera in the app or slide a
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physical shutter to restrict camera vision. These disruptive refrigerator concepts
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go beyond passive storage, saving owners time and money by
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providing a complete end to end solution that turns hectic
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weeknights into inspired moments. Additional features include brilliant touch display,
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A bright, interactive eight inch screen is easy to use
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and includes custom screen backgrounds, weather updates, and more. Recipe
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integrations remove the mental load of meal planning once and
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for all. Explore a where fifty curated recipes added monthly
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from trusted partners like Taste of Home through Seamless over
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the air Ota software updates, save favorites and a personal vault,
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or add missing ingredients directly to the shoppable list in
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the app voice add items to a shopping list, manage
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meal planning, and handle hands free queries like unit conversions
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or product information. Hands free autofill Using sensors in the
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refrigerator dispenser, the fridge releases the exact amount of filtered
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water you want, so you can walk away while your
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bottle fills up. Hands free Precise fill no matter what
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container you're using, dispense an exact amount of filtered water
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with just a touch by using the precise Fill setting.
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Premium modern design. Available in fingerprint resistant, stainless steel, with door,
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indoor storage, adjustable temperature drawer, led lightwall, and built in
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Wi Fi. All engineered in Louisville, Kentucky. The GE Profile
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Smart four door French door refrigerator with as Kitchen Assistant
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will be available in standard depth and counter depth starting
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in April of twenty twenty six at Geappliances dot Com
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and select retailers nationwide for a suggested retail price of
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four thousand, eight hundred ninety nine dollars. Attendees at CEES
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twenty twenty six, can experience private demos by appointment only.
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As a leader in connected appliances, ge Profile offers kitchen
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and laundry solutions with sleek esthetics and leading edge features
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that simplify daily life. At the intersection of meaningful technology
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and sophisticated design, ge Profile brings smarter innovation to life
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through its line of major and small appliances at ge Appliances,
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a hair company headquartered in Louisville, Kentucky, is a US
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manufacturer of home appliances with fifteen thy five hundred team
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members nationwide. It manufactures and sells under the monogram Cafe,
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ge Profile, ge Hair, and Hot Point brands. The next
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article from the Lane Report is titled lower Kentucky income
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tax rate begins January first. Kentucky's individual income tax rate
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will drop from four percent to three and a half
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percent on January first, twenty twenty six, marking the latest
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step in the Commonwealth's multi year effort to modernize its
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tax code and strengthen long term economic competitiveness. The reduction
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was authorized through House bill on legislation passed with strong
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bipartisan support. During the twenty twenty five regular season, Kentucky's
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General Assembly in its twenty twenty two session, enacted a
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program to lower the state income tax by half a
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percentage point a year if the state achieves financial goals
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for revenue and budget performance. The first step, decreased from
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five percent to four and a half percent, was enacted
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in twenty twenty three. Under twenty twenty five's House Bill one,
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Kentucky taxpayers will collectively save an estimated seven hundred eighteen
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million dollars annually. In addition to benefits for individuals, the
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legislation also provides direct relief to businesses structured as passed
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through entities such as sole proprietorships, partnerships, and s corporations
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that pay taxes under the individual income tax code. The
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Kentucky Chambers twenty twenty five Results for Business estimates that
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these businesses will realize at least ninety seven point six
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million dollars in annual savings once the rate reduction is
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fully implemented. The Kentucky business community has long champion tax
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reform as a catalyst for growth and competitiveness, say Kentucky
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Chamber President and CEO Ashley Watts. The current system reflects
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years of thoughtful work by the General Assembly, and we
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will continue partnering with lawmakers to advance reforms that strengthen
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Kentucky's economy and position our state for long term success.
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Ahead of the twenty twenty five legislative session, the Kentucky
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Chambers Kentucky Chambers Center for Policy and Research released a
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guide to Kentucky's tax reform, outlining the state's progress since
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twenty eighteen and reinforcing the importance of continued data driven
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reform as lawmakers considered House Bill one. As the twenty
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twenty six legislative session begins January first, stay tuned to
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the bottom line for information on key legislation that will
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impact the business community. The next article comes from the
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January fourth, twenty twenty sixth edition of Here Lexington and
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is titled Speakeasy Dispensary set to open in Lexington for
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medical patient. Speakeasy Dispensary is preparing to welcome registered medical
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cannabis patients on January fifteenth, twenty twenty six, at ten
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o'clock in the morning. This dispensary, located at one eight
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four nine Alisheba Way, represents a significant step forward in
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the state's medical Cannabis program, which was officially launched on
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January first of twenty twenty five. The opening will be
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celebrated with a ribbon cutting ceremony on January fourteenth, inviting
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local officials and industry partners to mark this historic occasion.
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The introduction of Speakeasy Dispensary not only signifies a changing
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landscape for healthcare options in Kentucky, but also reflects the
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entrepreneurial spirit that drives local economies. As the first medical
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cannabis dispensary in Lexington, it provides an opportunity for small
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businesses to thrive and innovate within a regulated industry. This
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advancement may lead to further eco nomic growth and community enhancement.
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In its initial phase, product availability will be limited at
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Speakeasy Dispensary, with purchase limits possibly imposed to ensure compliance
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with state regulations. The dispensary will operate Sunday through Thursday
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from ten am to eight pm, and Friday and Saturday
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from eight am to eight pm. Patients seeking medical cannabis
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must remember to secure their registration ahead of time to
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participate in this new chapter for Lexington healthcare offerings. Key
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features of Speakeasy Dispensary. Speakeasy Dispensary is situated in the
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former Frish's Big Boy building in the Hamburg shopping area,
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incorporating elements of Kentucky's equestrian legacy in its designed, particularly
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in the lobby that evokes the feel of a traditional
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jockey club. This thoughtful design highlights the local identity and
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invites the community to engage with a new act. Effect
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of Lexington's commerce regulatory framework for medical cannabis in Kentucky,
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the state's medical Cannabis program allows registered patients to purchase
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and possess a thirty day supply of medical cannabis. This
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provision defines the limits as up to one hundred twelve
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grams of flour, twenty eight grams of concentrate, or three
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thy nine hundred milligrams of THHG contained in edibles, oils,
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or other products. This regulatory framework aims to ensure patient
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safety while contributing to the market for medical cannabis in Kentucky.
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The impact of Speakeasy Dispensary on the local economy. As
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of January fourth, twenty twenty six, Speakeasy Dispensary stands alone
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as the only medical cannabis dispensary operating in Lexington. This
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exclusivity presents an early advantage, fostering potential economic development and
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paving the way for future entrepreneurial ventures with than the
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cannabis sector. Local economies benefit from the job creation associated
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with dispensaries, from product supply chains to retail employment. Experts
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believe that a well regulated cannabis market can stimulate private
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investments and encourage local entrepreneurs, ultimately leading to broader economic
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resilience and job growth, community engagement and local development. The
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opening of Speakeasy Dispensary aims to cultivate community engagement as
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it invites local officials and partners to participate in its
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ribbon cutting ceremony. This sense of partnership and community involvement
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can foster a better understanding of the medical cannabis landscape,
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developing an informed consumer base while addressing concerns surrounding it.
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In addition to improving patient access to healthcare options, Speakeasy
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Dispensary is likely to become a hub for education and outreach,
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allowing law local residents to learn more about medical cannabis use,
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benefits and regulations. Looking forward, as the leadership of Speakeasy
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Dispensary steps into this new venture. It promises not just
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to serve patients, but also to act as an example
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of how local businesses can leverage new opportunities provided by
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changing regulations. With a growing interest in holistic approaches to
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health and a supportive regulatory environment, Speakeasy Dispensary could set
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the stage for a transformative shift in Lexington's healthcare and
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economic landscape. Engaging with and supporting local businesses will be
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crucial as Lexington continues to navigate this new chapter. As
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residents prepare for the dispensary's opening and the opportunities it represents,
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the community is invited to remain involved and informed about
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the local economy's growth. The next article comes from the
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January fifth, twenty twenty six edition of the Louisville Courier
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Journal and is titled Kroger said it would dump plastic
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bags by twenty twenty five, So why are they still around?
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Written by Olivia Evans. In twenty eighteen, grocery store giant
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Kroger announced it would phase out use once throw it
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away plastic bags and transitioned to reusable bags by twenty
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twenty five. However, eight years later, plastic bags are still
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the main bagging product available at many Kroger locations. When
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Kroger made its single use plastic bag free pledge in
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twenty eighteen, then CEO Rodney McMullen, who has since resigned
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in twenty twenty five following an ethics investigation, wrote an
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opinion piece published in USA Today stating, as America's largest grocer,
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we recognize we have a responsibility to cut down on
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unnecessary plastic waste that contributes to litter, harms the environment,
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and in some cases can danger wildlife. The promise was
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part of a larger initiative called Zero Hunger, Zero Waste,
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Kroger's social and environmental impact Plan that also includes calls
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for reducing food waste at Kroger stores, improving food security,
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and overall being more sustainable. However, in a document provided
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by Kroger to The Courier Journal, the company has quietly
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extended the timeframe for reaching this once highly publicized goal.
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We originally aim to achieve our bag reduction goal in
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twenty twenty five. However, due to our current rate of progress,
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the high cost of all paper bags to both our
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business and the planet, our customers feedback from multiple pilots
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across the country, and an anticipated slowdown in legislative action,
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we are extending our timeline for phasing out single use
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plastic bags, the document stated. A new target day for
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completion is not stated in the document. Here's what else
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to know about when Kroger plans to phase out plastic
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bags and when it might happen in Louisville. Why did
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Kroger change its plastic bag removal goal. The company stated
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in the document shared with the Courier Journal that twenty
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twenty five was a lofty goal to rid all stores
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of single use plastic bags, but it remained confident it
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would be able to achieve this goal. However, the Cincinnati
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based grosser faced significant setbacks to its progress from the
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COVID nineteen pandemic, during which it suspended its bag related projects.
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The document from March twenty twenty five states, as concerns
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around the pandemic eased and Kroger returned to prioritizing its
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plastic bag removal project, the company conducted various types of
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pilot consumer testing in locations including Denver, Colorado, and Tucson, Arizona,
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among others, to test solutions like bag incentives and fees,
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as well as consistent signage and marketing to encourage customers
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to build a habit of bringing reusable bags, Kroger said
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in the provided document. The testing allowed the grocery chain
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to learn some of its consumers have already switched to
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reusable bags, but other shoppers remained reliant on plastic bags
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due to convenience and affordability. Despite missing the original twenty
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twenty five deadline, the company reported that by the end
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of twenty twenty four, more than seven hundred Kroger operated
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stores stopped providing single use plastic shopping bags for our customers,
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switching to paper or multi use plastic bags as alternatives
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depending on state requirements or local back ordinances. However, in
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Louisville and Kentucky at large, single use plastic bags remained
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available at Kroger locations. A Kroger spokesperson confirmed that no
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stores in Kentucky are participating at this time. What progress
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has Kroger made on phasing out plastic bags. In twenty eighteen,
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Kroger announced its Seattle based QFC retail division would lead
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the plastic bag phase out, with these stores expecting to
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have phase out completed in twenty nineteen. According to a
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twenty nineteen Environmental, Social and Governance report published by Kroger,
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the company successfully phased out all plastic bags at QFC
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and was using what we've learned from qfc's transition to
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create a rollout strategy and timeline that works for our
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customers and our business. The Courier Journal looked at Kroger's
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ESG reports from twenty nineteen to twenty twenty four to
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review the updates on the phase out of single use
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and plastic bag initiative. Here are some key takeaways. Twenty nineteen,
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Kroger celebrated phase out at qfc's division and reaffirmed commitment
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to phase out across remaining stores twenty twenty five. Twenty twenty,
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Kroger stated it was on track to reach its twenty
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twenty five goal and the company was developing a phase
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out timeline. Twenty twenty one, Kroger stated it was developing
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a roadmap and reflected on pandemic related disruptions, but remained
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on track to hit its twenty twenty five goal. Twenty
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twenty two, Kroger stated that it was still developing a
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roadmap as the goal was downgraded to an area of focus.
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Twenty twenty three, Kroger stated it was using pilots to
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redefine roadmap and the company progress remains an area of focus.
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Twenty twenty four, Kroger stated it was focused on finding
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feasible ways to reduce the amount of single use plastic
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grocery bags in its stores, and the company progress remained
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an area of focus. As of early January, Kroger had
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not published its twenty twenty five ESG report Kroger Get
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Rid of Plastic Bags. The document provided to the Courier
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Journal by Kroger states the company remains committed to phasing
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out single use plastic bags and has extended its timeline. However,
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the document does not provide a projected year of completion.
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Going forward, we will focus on achieving a continual reduction
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in single use plastic shopping bags provided in our stores
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over time. The document stated. We know it's impossible to
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predict what will happen five, ten, or twenty years from now.
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We believe it's most critical to focus on continually improving
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our own sustainability performance and working together with the industry
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to develop innovative new ways to reduce single use bag waste.
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The next article comes from the January sixth, twenty twenty
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sixth edition of Louisville Business First and is titled New
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Albany Bakery plans to close in the spring, written by
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Olivia Estwright. A New Albany bakery is closing its stores
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after four years. Levin Bakery and Bistro will be shutting
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down this spring when the bakery's lease is up, According
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to the bakery social media post. Though the owners, Zachariah
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and Kimberly Maxie, were searching for a larger space, the
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post said, the rising cost of ingredients, utilities, labor, and
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insurance stop them. We don't feel right having to charge
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twenty dollars for a breakfast sandwich just to keep the
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doors open. We know wallets are tightening everywhere, and while
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everyone is feeling it, small businesses and restaurants are feeling
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it on a much bigger scale. The post read. The
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Maxis opened the brick and mortar location during the pandemic
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after both found themselves without work. The married couple moved
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to Louisville from California around twenty seventeen and fell in
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love with a local food and culture in the summer
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of twenty twenty one, the pair opened the new Albany location.
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The bakery will remain open through the spring from six
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am to two pm Wednesday through Saturday, and from ten
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am to two pm on Sundays. This concludes the reading
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of the most recent business news in Lexington, Louisville, and
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around the state. Your reader to day has been Julia Shane.
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If you have any questions or comments about this program,
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please give our Lexington Studios a call at eight five
28:14
nine four two two six three nine zero. Thanks for listening,
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and now please stay tuned for readings from the Kentucky
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series here on Radio I