Latest / Kentucky Business News / 3.12.26

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3.12.26 · Kentucky Business News

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Speaker 1: Hello. Today, I'll be reading from business sources in Kentucky,
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including the Lane Report and others from around the Commonwealth
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as time permits. Your reader today is Carolyn Brown. As
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a reminder, RADIOI is a reading service intended for people
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who are blind or have other disabilities that make it
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difficult to read printed material. I'll begin today with the
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Lane Report, dated January February twenty twenty six. The Fast
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Lane Column, a compilation of economic news from across Kentucky.
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One Glendale. Ford lays off sixteen hundred will invest two
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billion dollars to make storage batteries. About sixteen hundred workers
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at the massive Blue Oval SK campus in Glendale are
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being terminated as Ford Motor Company restructures its electric vehicle
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strategy and repurposes its Kentucky battery operations toward ens energy
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storage systems. Ford plans to convert under used ev battery
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capacity at the Hardin County site to produce lithium ion
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cells and large scale battery energy storage systems for data centers, utilities,
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and industrial customers. The move follows Ford in South Korea
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based sk On's decision to dissolve their Blue Oval SK
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joint venture announced in December. Amid slowing ev demand and
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the expiration of federal tax credits. The company has reportedly
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lost thirteen billion dollars on its electrical vehicle business since
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twenty twenty three, and has discontinued production of its all
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electric F one fifty lightning pickup truck. Ford will take
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sole ownership of the Kentucky facilities in early twenty twenty six,
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while sk On assumes control of a Tennessee plant. The
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automaker said affected contuenty workers may apply for jobs with
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a Ford subsidiary that will operate the retooled facility. Of
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the two planned Kentucky facilities, only one has been operational
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to date, opening last August with around one thousand, four
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hundred and fifty employees. The second Kentucky facility was scheduled
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to open in twenty twenty six, but has not yet
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been completed. Ford expects the new energy storage business to
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employ about two thousand, one hundred people initially, about four
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hundred fewer than previously planned, and plans to invest about
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two billion dollars over the next two years to scale production.
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The joint venture was originally announced in twenty twenty one,
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with a total planned investment of eleven point four billion
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dollars and the promise of nearly eleven thousand jobs across
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the two locations. Next from the fast Lane, Hebron Stored
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to add five hundred logistics jobs as part of forty
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million dollar expansion. Stored, Inc. And Atlanta based e commerce
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fulfillment and logistics company, will invest more than forty million
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dollars to expand its Hebron facility, creating over five hundred
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jobs over the next several years. The new positions will
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range from entry level positions through senior leadership roles responsible
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for managing day to day demands. Founded in twenty fifteen
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by Sean Henry and Jacob Boudreaux, Steward operates a global
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network of fulfillment centers that employ more than thirteen hundred.
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The Hebron site, acquired from Pitney Bows in twenty twenty four,
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currently employees over six hundred people and is Steward's largest
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US facility, handling millions of orders annually. The expansion will
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add a five hundred and twenty five thousand square foot
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US A warehouse and incorporate automation and Storared's proprietary AI
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enabled warehouse and transportation management systems to improve efficiency and
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speed of fulfillment. Stored, which recently raised two hundred million
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dollars in funding and acquired Where to Go from Ups,
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said the Hebron expansion positions the company to better serve
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fast growing e commerce brands and meet rising demand for
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one to two day delivery. Next Louisville, Louisville Lands forty
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two million dollars and Throw Energy plant one hundred and
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ten jobs and Throw Energy, Inc. And Advanced Materials and
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battery technology company plans to open a new manufacturing facility
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in Louisville, investing more than forty two million dollars and
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creating one hundred and ten full time jobs. The new
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jobs will include highly skilled positions such as manufacturing technicians, engineers,
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facility managers, and logistics staff. The facility will be the
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California based company's first operation in Kentucky and will focus
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on producing advanced electrolytes for next generation batteries. Anthrow Energy's
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proprietary injectable phase change electrolyte, branded ANTHROW Proteus, is designed
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for use across multiple markets, including consumer electronics, micromobility, defense,
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and automotive applications. The company expects the Louisville operation to
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produce more than twelve thousand metric tons of electrolyte annually. Quote.
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This facility will stand as the first major US owned
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and US operated advanced electrolyte production site, marking a significant
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milestone in our effort to build a resilient domestic supply
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chain for critical battery materials and to deliver the next
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generation of energy technology, said ANTHROW Energy Chief Technology Officer
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Joe Papp, a Kentucky native. Quote. Bringing this work back
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to Kentucky means a great deal to me. Next Paducah
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one point five billion dollar investment fuels one hundred and
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forty new jobs in Paduca. The US Department of Energy
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has awarded General Matter a nine hundred million dollar, ten
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plus year contract to build and operate domestic high assay
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low enriched uranium, also referred to as hal EU enrichment capacity,
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a critical fuel for advanced nuclear reactors. The project will
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be based at the former Paducah Gaseous Diffusion Plant, restoring
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uranium enrichment operations on US soil and reducing reliance on
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foreign suppliers, primarily Russia and China. General Matter plans to
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invest nearly one point five billion dollars in western Kentucky,
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creating about one hundred and forty jobs while supplying a
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significant share of the nation's advanced nuclear fuel needs. The
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investment marks a major step towards strengthening national energy security,
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rebuilding the nuclear industrial base, and lowering long term energy costs.
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Next Bowling Green, Akfa Aluminum to open first US plant,
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creating three hundred and thirty one jobs. Akfa Aluminum Solutions,
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a division of Uzbekistan based Akfa Group, plans to open
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its first US manufacturing operation in Bowling Green, marking the
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first time an Uzbekistan company has established a production facility
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in the United States. The project is expected to create
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three hundred and thirty one new jobs. The new facility
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will operate as a full cycle aluminum production hub featuring
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advanced extrusion, analyizing, and finishing capabilities that meet US energy
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and environmental standards. The operation will incorporate recycled aluminum billets
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and energy efficient systems to support a low carbon supply chain,
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strengthening the region's position in sustainable advanced manufacturing. ACFA Aluminum
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Solutions USLLC is part of ATFA Group, one of Central
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Asia's largest industrial companies, which employs more than eight thousand
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people and supplies aluminum products to global construction, transportation, and
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renewable energy markets. Next, Lexington one hundred and fifty million
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dollar gift positions UK arts district as economic driver. The
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University of Kentucky is moving forward with plans for a
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new arts district after its Board of trustees accepted a
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one hundred fifty dy million dollar gift from the Bill
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Gatten Foundation, the largest donation in the university's history. The
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investment will fund construction of a new College of Fine
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Arts building, a several hundred seat performance theater, and a
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public pavilion and park along South Broadway, strengthening connections between
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campus and downtown Lexington. University leaders say the district will
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anchor cultural development while supporting workforce and economic growth tied
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to Kentucky's creative industries, including film design and the performing arts.
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The project will require legislative authorization to issue bonds, and
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discussions with state leaders are already under way. State officials
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called the investment a catalyst for broader economic impact, noting
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the role of arts and education in attracting talent and visitors.
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The gift builds on more than two hundred million dollars
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in prior contributions from Bill Gatten and his foundation, which
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have supported agriculture, business education, student services, and scholarships across
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the university. Next Simpson County, three hundred and ninety one
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million dollar Kroger facility will create four hundred and thirty
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new jobs. Kroger, the largest traditional grocer in the US,
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plans a three hundred and ninety one million dollar distribution
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center in Simpson County that will create approximately four hundred
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and thirty full time jobs. The facility will feature scalable
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automated operations to support regional supply, expanding Kroger's long standing
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footprint in the state. The new center will complement Kroger's
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two hundred and four million dollar Bowling Green expansion for
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its Country Oven bakery. Founded in eighteen eighty three and
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headquartered in Cincinnati, Kroger operates more than two thousand, seven
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hundred stores across thirty five states, employees over four hundred
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thousand associates, and generates annual sales exceeding one hundred forty
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seven billion dollars. In Kentucky, alan Kroger runs nearly one
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hundred and ten stores, four manufacturing and distribution facilities, and
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a regional headquarters in Louisville. The company is also known
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for its long running partnership with the Kentucky Derby and
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University of Kentucky Athletics. Next State SBA launches first loan
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program for small manufacturers. The US Small Business Administration has
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launched its first ever loan program for America's small manufacturers,
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which make up ninety eight percent of all US manufacturers.
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Thus seven A Manufacturers Access to Revolving Credit or MARK
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loan program offers operating capital and is specifically designed to
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provide maximum flexibility and minimal red tape. MARK lines may
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be structured as either a revolving line of credit or
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a term loan, and may be used for any short
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term working capital need of the manufacturer, supporting everything from
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inventory purchases to new projects. Mark lines of credit can
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help manufacturers expand their working capital by leveraging the available
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equity of their existing facility or equipment. Complete details about
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the program can be found at SBA dot gov. Next
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State new state park app designed to boost visitor engagement.
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Kentucky State Parks has launched a new mobile app aimed
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at enhancing visitor experiences across its forty four parks. Developed
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with Outer Spatial, the free app offers offline accessible digital maps,
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real time trail and facility updates, curated outings, and over
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one thousand points of interest, including scenic overlooks, historical sites,
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and recreational amenities. The app also introduces the Kentucky Passport Challenge,
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encouraging visitors to explore all state parks. Participants earned digital
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badges for each part visited, with the goal of collecting
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all forty four badges. The app is available on iOS
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and Android. Users can join the Kentucky community within Outer
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Spatial to plan trips, access real time updates, and participate
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in the Passport Challenge. More information is available at Parks
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dot Ky dot gov. Next Louisville, Kentucky Suppliers gained forty
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million dollars in GE Appliance contracts. GE Appliances is deepening
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its economic impact in Kentucky, awarding more than forty million
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dollars in new contracts to four in state plastic suppliers
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as part of a broader effort to strengthen US manufacturing
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and expand its domestic supply chain. The suppliers include EPC
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in Lebanon, Jones Plastic, a Louisville headquartered injection molder with
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operations in Williamsburg, Plastic Products Company, Inc. With facilities in
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Lebanon and Greenville, and a Frankfurt area operation. The contracts
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represent early ripple effects from GE Appliance's multi billion dollar
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commitment to US manufacturing. In August, the company announced plans
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to invest more than three billion dollars nationally over five years,
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bringing its total US investment since twenty sixteen to six
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point five billion dollars. Kentucky is a central beneficiary of
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that strategy. Earlier this year, GE Appliances unveiled a four
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hundred and ninety million dollar expansion at its Louisville headquarters
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that will add a combination washer dryer plant and create
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eight hundred jobs. GE Appliances already spends three hundred and
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eighteen million dollars annually with more than four hundred and
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eighty Kentucky suppliers, reinforcing the state's role in the company's
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domestic manufacturing network. Its Louisville Appliance Park, spanning seven hundred
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and fifty acres and more than six million square feet,
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serves as the company's global headquarters and largest manufacturing operation,
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employing more than eight thousand people. Next Louisville, u of
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L awarded eleven point five million dollars to advance cancer immunotherapy.
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The University of Louisville and u OFL Health Brown Cancer
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Center have received a new eleven one point five million
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dollar grant from the National Institutes of Health to expand
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groundbreaking research and cancer immunotherapy. The funding will support the
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next five years of work at u of l's Center
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for Cancer Immunology and Immunotherapy CCII, advancing immune based cancer
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treatments and training future scientists. Since its founding in twenty twenty,
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the CCII has doubled u of l's immuno oncology faculty
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and helped secure thirty three million dollars in additional research grants.
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Its discoveries have translated directly into patient care at Brown
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Cancer Center, where clinical trials of tumor infiltrating lymphocytes helped
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lead to FDA approval of the therapy in twenty twenty
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four for metastatic melanoma. The renewed grant will also fund
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mentorship and research operator tunities for junior investigators and support
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advanced technologies such as a new tumor organoid fragment culture platform.
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U of L President Jerry Bradley praised the effort as quote,
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life changing research that provides hope for people facing a
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cancer diagnosis. Brown Center CEO Jason Smith added that the
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collaboration underscores the strength of academic medicine in turning research
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breakthroughs into life saving treatments for Kentucky patients and beyond.
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Next state, Rural Kentucky rebounds with population growth. A new
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report from Blueprint Kentucky, a research and outreach unit within
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the University of Kentucky Martin Gatton College of Agriculture, Food
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and Environment, highlights population growth as a key finding in
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Kentucky's rural economy. After nearly a decade of day decline,
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rural Kentucky saw population gains from twenty twenty to twenty
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twenty four. Though not all rural communities experience population growth,
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The increased numbers are partly credited to remote and hybrid
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work trends. Quote. This population shift marks an important moment
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for rural Kentucky, said Simona Belaw's research director for Blueprint Kentucky.
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It underscores the need for continued investment in job creation, housing,
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and essential services to sustain growth and ensure these communities
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remain attracted places to live and work. The report covers
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eighty five rural counties home to one point eight five
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million people, or forty one percent of Kentuckians. Next, Pikeville
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U Pike launches fifty million dollar campaign to transform at Balachia.
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The University of Pikeville YOU Pike has officially launch which
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the public phase of its Quote Reaching New Heights Capital Campaign,
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a record breaking fifty million dollar initiative aimed at transforming education, healthcare, athletics,
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and student success in Central Appalachia. The campaign builds on
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momentum from a successful quiet phase and focuses on three
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key pillars the creation of the Tanner College of Dental Medicine,
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development of the Bear Mountain Athletic Complex, and a significant
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expansion of endowed scholarships. The Dental College, the first in
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central Appalachia, will train local professionals to address oral health disparities,
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featuring ninety three state of the art clinics and labs.
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The Bear Mountain Complex will provide premier training and competition
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facilities for Upike's student athletes, including a new football and
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soccer stadium, baseball and softball field, and archery range, trails,
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and other facilities, while also serving as a regional hub
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for events and disaster relief. Increasing endowed scholarships will ensure
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broader access to education, empowering students to pursue degrees without
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excessive debt. You Pike leaders emphasize that the campaign is
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about more than facilities. It's about investing in the future
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of students and the region. Next state talent pipeline improves,
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but early learning gaps persist. Kentucky's latest school report card
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shows continued gains in high school outcomes, but is still
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facing ongoing challenges in early education that could affect its
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long term workforce pipeline. The four year graduation rate climbed
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to ninety three point five percent and eighty three percent
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of seniors met college or career readiness benchmarks, signaling progress
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and preparing students for post secondary success. However, earlier grades
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present a more mixed picture. Eighth grade proficiency improved modestly
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in math and reading, while fourth grade results remain flat.
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Kindergarten readiness declined to forty six percent, raising concerns about
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foundational skills that underpin later academic and workforce success. Achievement gaps,
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often twenty points or more for English learners, students with disabilities,
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African American students, and economically disadvantaged students continue to persist
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despite the mixed early grade results. The Pritchard Committee, a
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Kentucky based nonpartisan, citizen led nonprofit focused on improving public education,
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says Kentucky's new literacy and numeroucy initiatives are beginning to
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work and is urging continued investment to accelerate the progress statewide.
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In a new report, the organization calls for strengthening the
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value of Kentucky diplomas through rigorous academics, durable skills, and
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real world learning. Business and community leaders, the group maintains
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play a critical role in sustaining education as an economic
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development strategy. Next Louisville, How Louisville's economy compares to peer cities.
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Greater Louisville, Inc. Has released its twenty twenty five Regional
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Economic Dashboard, comparing the metro area's performance across twenty eight
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metrics to sixteen pier cities, including Saint Louis, Cincinnati, Indianapolis, Nashville, Charlotte,
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and Kansas City. The report highlights strong job growth and
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rising household earnings relative to cost of living. Gross Regional
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product imports and exports also climbed in the rankings, signaling
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economic momentum. However, the dashboard notes slower population growth, lower
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educational attainment, and higher property crime rates compared to peers,
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while violent crime decreased year over year. Trends show Louisville
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steadily improving key economic indicators. GLI leaders say the dashboard
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is a critical tool for site consultants and businesses considering
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relocation or expansion. By benchmarking against pure markets, Louisville can
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strategically attract investment, develop talent, and maintain its competitive edge
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as a growth oriented hub for business and innovation. And finally,
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from the fast laying collection, Louisville give us to make
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first US steriles surgical gloves in Louisville. Gilbos, a new
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advanced healthcare manufacturer, will establish its North American headquarters and
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production facility in Louisville's lou Med District, producing the nation's
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first domestically made premium sterile surgical gloves with an initial
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five million dollar investment. The company plans to create dozens
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of high wage positions in manufacturing, quality control, maintenance, and logistics,
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and expects to employ one hundred Kentuckians within four years,
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doubling that by year ten. The location leverages Louisville's logistics network,
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including proximity to ups World Port, enabling faster delivery to
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hospitals nationwide. Partnering with Jefferson Community and Technical College, GILBS
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will tap into a local talent pipeline for operators, technicians,
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and engineers. Domestic production aims to reduce reliance on overseas suppliers,
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improving quality control, lot traceability, and supply chain resilience. Next
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business Briefs brief news from across Kentucky. First Christian County,
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Murray State University's Hopkinsville Regional Campus has partnered with Sprockett,
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a Paduca based network of Western Kentucky innovators and entrepreneurs,
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to expand interrepreneurial support in Christian County and surrounding areas.
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The collaboration offers coaching, cohort based programs, and networking events
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to help local founders turn ideas into successful businesses. Next
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Eastern Kentucky a new program has launched to introduce high
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school students to careers in mental behavioral health, addressing workforce
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shortages while creating early pathways into a growing health care sector.
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The CLIMB two point zero initiative, which stands for Career
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Ladders in Mental and Behavioral Health, expands on an earlier
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adult focused model and target students at Floyd County, Prestonsburg,
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Betsy Lane, Harlan County, Harland, Hazard, Peirie County Central, and
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Buckhorn High schools. Students can earn dual credit and certifications
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aligned with post secondary credentials, preparing them for immediate employment
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or continued education after graduation. Hazard Southeast Kentucky and Big
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Sandy Community and Technical Colleges will pilot the program with
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support from the University of Kentucky Center of Excellence and
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Rural Health. Next Florence, row Tech, Inc. A subsidiary of
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German conglomerate beisen Krupp, is closing its facility in Florence
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as part of the company's decision to consolidate some of
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its North American operations. Rotech's Florence operations, which produce slewing
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bearings used in cranes and wind turbines, among other machines
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will be moved to the company's Aurora, Ohio location. The
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closure will result in the elimination of seventy seven jobs.
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This concludes the reading of the most recent Kentucky business news.
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Your reader today has been Caroline Brown. 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 oh. Thanks for listening and now
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please stay tuned for more programming here on RADIOI