LFUCG Metrics - 01-1-2011 to 03-31

Transcription

Bluegrass Business Development Partnership
Fiscal Year 2010-2011
2010-2011
Goal % Attained
Quarter 1
Quarter 2
Quarter 3
Quarter 4
YTD
Bluegrass Business Development
Partnership
Clients Served
Client Meetings
Funding Received
$
Jobs Created/Businesses Started
Capital Investment
1,125
75%
329
247
269
0
845
285
82%
84
63
86
0
233
28,400,000
722
$
50,000,000
329% $
232%
2,424,190
$
540
124% $ 30,043,740
6,694,233
$ 84,456,984
406
$
$
-
730
4,214,000
$ 27,977,000
2,851
730
93,575,407
0
$
-
1,676
$ 62,234,740
Workshops/Training/Other
Number in Attendance
3,807
121%
Number of Workshops/Training
91
97%
1,018
25
26
-
37
4,599
0
88
350%
300%
250%
200%
Quarter 4
Quarter 3
Quarter 2
150%
Quarter 1
100%
Goal
Goal
50%
0%
Bluegrass Business Development Partnership Metrics Summary
Page 1 of 7
Bluegrass Business Development Partnership
2010-2011
Goal
% Attained
Quarter 1
Quarter 2
Quarter 3
Quarter 4
YTD
58
58
81
0
197
84
63
86
0
233
Economic Development
Clients Served
280
Client Meetings
285
Funding Received
$
70%
5,500,000
414%
$1,860,000
$3,300,000
$17,615,000
$0
22,775,000
650
215%
534
403
462
0
1,399
50,000,000
124%
$30,043,740
$4,214,000
$27,977,000
$0
62,234,740
1,050
116%
225
461
527
0
1,213
14
150%
4
9
8
0
21
114
15
0
0
129
Capital Investment
$
0
#DIV/0!
Workforce Development
Clients Served
225
57%
0
0
0
-
#DIV/0!
0
0
0
0
0
-
#DIV/0!
0
0
0
0
0
0
107
530,000
#DIV/0!
Minority Business Development
Clients Served
Funding Received
$
54%
31
30
46
400,000
133%
40,000
350,000
140,000
0
10
70%
4
0
3
0
7
#DIV/0!
0
0
0
0
0
Capital Investment
$
Procurement
$
0
200
1,000,000
39%
71,350
224,000
94,300
0
389,650
1,607
181%
563
2,257
86
0
2,906
20
70%
5
6
3
0
14
62
32
77
0
171
0
#DIV/0!
Innovation and Commercialization
Clients Served
Funding Received
120
$
$
0
20,000,000
327%
0
0
65,484,484
0
65,484,484
50
524%
0
0
262
0
262
#DIV/0!
0
0
0
0
0
Capital Investment
143%
-
0
850
149%
310
517
441
0
1,268
12
200%
6
11
7
0
24
#DIV/0!
Small Business Development Center
Clients Served
Funding Received
$
300
88%
72
112
80
0
264
2,500,000
191%
524,190
3,044,233
1,217,500
0
4,785,923
12
67%
2
3
3
0
8
#DIV/0!
0
0
0
0
0
Capital Investment
$
0
-
0
300
133%
145
77
178
0
400
45
104%
12
9
26
0
47
Duplicates (Office Use Only)
Clients Served
16
30
Funding Received
Capital Investment
450
922
1,004
4
18
14
Bluegrass Business Development Partnership Metrics Summary
Page 2 of 7
Economic Development
Clients Served
2010-2011 Goal
280
YTD
197
Quarter 3
81
Prospects
110
39
85
Commerce Lexington’s economic development team actively recruits
companies (manufacturing, distribution, headquarters, call centers) to
expand or relocate to the Bluegrass region. Recruitment is achieved
through many marketing initiatives such as advertising, direct mail
pieces, tradeshows, site selection and corporate real estate consultant
visits.
Existing Business Visits
150
34
102
Commerce Lexington visits 150 export based existing companies
every year. During the visits, the team identifies and addresses
barriers to growth of existing firms, as well as work to retain the at risk
companies. We also provide access to capital, opportunities and
networks for businesses.
8
10
Commerce Lexington continues to work hand-in-hand with UK’s
Innovation and Commercialization Center and the Small Business
Development Center on high-tech entrepreneurial projects. With these
relationships, Commerce Lexington can provide access to information
and funding for start-up companies. The partnership is also
developing a resource website for entrepreneurs. To further support
entrepreneurial companies, Commerce Lexington sponsors the
SBIR/STTR conferences, as well as the Lexington Venture Club.
285
86
233
285
83
225
3
15
$5,500,000
$17,615,000
$22,775,000
Number of StartUp/Entrepreneurial High
Tech Companies
20
Client Meetings
Client Meetings
Site Visits
Funding Received
$5,500,000
$17,615,000
$22,775,000
650
462
1,399
650
462
1,399
$50,000,000
$27,977,000
$62,234,740
$50,000,000
$27,977,000
Jobs Created/
Businesses Started
Jobs Created
Capital Investment
Capital Investment
Workshops/Training/Oth
Total number of meetings with all clients.
Commerce Lexington works with the Kentucky Cabinet for Economic
Development (KCED) in administering tax incentive programs, which
are based on job creation and capital investment, to help companies
offset their start-up costs. Commerce Lexington also helps coordinate
with the KCED training program, such as grant-in-aid, and direct loan
programs, which offer companies low interest rates.
Number of new jobs created in Lexington in the areas of
manufacturing, distribution, headquarters operations, call centers, and
high-tech start-ups.
Expenditure in real estate, building renovations, equipment
$62,234,740
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
1050
14
527
8
1,213
21
Founded in 2002, The Lexington Venture Club is a partnership
between Commerce Lexington and UK’s Von Allmen Center for
Entrepreneurship. The Lexington Venture Club is a catalyst by which
entrepreneurs, service providers, and investors work together to
develop a strong economy in Central Kentucky. At the beginning of
each year, we have our annual “Who Got the Money” reception which
recognizes early stage and growing companies in Central Kentucky
that have received funding through venture capital, angel investors,
friends and family, and state and federal sources.
Lexington Venture Club
5Across
400
6
295
3
584
8
The Lexington Venture Club and Awesome Inc. are proud to announce
5 Across, an informal gathering of entrepreneurs, investors, and
service providers from Lexington, KY. Each Five Across meeting will
feature presentations from local entrepreneurs who will be pitching
their idea to a panel of judges.
5 Pitches from different teams
5 Slides per pitch
5 Minutes per pitch
5 PM start time
$500 prize to the winning pitch
in2Lex: (n) Innovators, engineers, techies, and entrepreneurs who
gather to share ideas. Alliance of forward thinkers. The future of
Lexington’s innovative spirit.
Activities
600
6
207
4
499
11
Start Up Advantage
Geeks Night Out
Mobile Conference
Start Up Weekend
See ICC tab.
Bench 2 Business (B2B)
Manufacturer's Network
Group
105
50
2
25
1
25
1
See ICC tab.
1
The Manufacturers Networking Group is comprised of local
manufacturing companies who come together to discuss issue they
face every day in the workplace. The group meets five to six times
each year -- four of the meetings are held at various manufacturing
plants and the other two meetings are the annual spring and fall
receptions. The group expressed interested in forming a training
consortium and a board of directors was formed to evaluate the
formation of the consortium.
Business & Education Network
Clients Served
2010-2011 Goal
225
Quarter 3
0
YTD
129
Number of applications, students and business/organizations
Entrepreneur Leadership
Institute Participation
50
0
Up to 30 Fayette County juniors and seniors learn about business and
entrepreneurship by meeting successful local entrepreneurs and leading
business people who will share leadership ideas and discuss what it takes
to succeed. Students visit businesses to see first hand how things work,
learn business planning basics, develop a business plan with a team. 92
applications have been received for the 2011 ELI. Student selection is
underway and planning is almost complete.
Number of applications, teachers, and business/organizations
Lexmark Teacher Institute
Educator Partipation
75
83
This is the only program in Fayette County in which teachers and
community business partners collaborate to better understand how business
use what schools are teaching. Teachers gain real-world examples to
enliven delivery, and create opportunities for students beyond the school
walls. Working with this fall to survey participants from the last three years
to obtain feedback on how the LTI impacted them and their teaching. A
recently released benchmark study from the UK College of Education,
reported on how teachers are using the information and the positive impact
on the learning of their students from engagement to outcome.
Teachers are in process of submitting LTI applications. Planning for the
LTI, scheduled for July 25-29, 2011 is already underway.
Business & Education
Network
"Best In the Bluegrass"
75
25
22
52
16
BEN will serve as a "portal" or system to match education needs with
business people, community organizations, professional associations and
others who want to volunteer their time and expertise in a variety of ways.
Working with FCPS to revamp marketing the BEN site to teachers.
Number of Students and companies participating. This pilot initiative aimed
at high-performing students in Fayette County Public Schools (FCPS) who
are going to college outside of Kentucky. Provide graduating students and
returning participants from the last four years with a high level internship
opportunity/scholarship. Goal is to show these students a variety of
companies and high-level high-tech career opportunities in Central KY. In
process of identifying and meeting with companies that may be good
opportunities for internships. Previous BBG participants have been notified
that they are eligible to return for another summer. Applications for new
participants are to be submitted by April 11.
The job portal, www.bluegrassjobs.com, launched recently with the new economic development website. This portal aggregates thousands of Lexington area jobs from hundreds
of sites including job boards & company listings. On average, there have been 4,000+ jobs aggregated through the portal. From January 1 - March 31, 2011, the site was
viewed nearly 300 times.
Minority Business Development
2010-2011 Goal
200
Quarter 3
46
YTD
107
Minority
100
19
53
Existing Minority Business
Visits
55
16
16
Clients Served
A minority business as defined by Commerce
Lexington is a business that is 51% owned, operated
and controlled by a person who is a member of the
following racial and ethnic groups:
African American: An individual of Black race or African origian or
parentage;
Hispanic American: An individual of Latin American culture, origin or
parentage; and
Funding Received
ACCE$$ Loan Program
Asian American: An individual of Japanese, Korean, Chinese, Indonesian,
45
11
38
$400,000
$140,000
$530,000
Female
Indochinan, Malaysian, Filipino, native Hawaiian, or Pacific Islanders culture, origin
or parentage.
$400,000
$140,000
$530,000
10
3
7
10
3
7
$0
$0
$0
Jobs Created/
Businesses Created
Capital Investment
The Acce$$ Loan Program's mission is to provide
easier access to the financing and helpful business
advice that you need to start or grow your business.
This program is committed to fostering economic
growth and enhancing business opportunities for
minorities, women, and emerging small businesses.
$0
Procurement
Workshops/Training/Othe
Facilitated over $8 million in contracts and business
over the past 4 years.
$389,650
$94,300
$1,000,000
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
86
3
2,906
14
1,600
1
Yearly event. Allow Commerce Lexington staff to
canvass Tier-1 & Tier-2 Suppliers for opportunities
1607
20
Toyota Opportunity
Exchange
400
1
Opportunity Exchange
75
2
42
1
73
2
Local Bi-Yearly event that connect MBE's to
opportunities with large companies
TSMSDC/CLX Seminar
15
9
16
1
62
3
Information/Training sessions on benefits of
Cetification for MBE's
LFUCG Minority Business
EXPO
400
1
480
1
Yearly event.
TSMSDC Awards
Celebration
450
1
500
1
Held each year in December to recognize large company
and MBE accomplishments towards Economic Inclusion
Community Ventures Corp Entrepreneurial Training
17
2
45
3
Part of regional Minority Business outreach
Partners for Entrepreneurial
Advancement in KY
100
1
77
1
Educational session held year for professionals that
work with small businesses.
Business Credit Seminars
10
1
27
1
Commerce Lexington will bring in noted speaker
TSMSDC Business
Opportunity Fair
100
1
0
0
Large event that features a matchmaking session for minority
businesses and the companies they want to do business with
Bluegrass Airport DBE
Seminar
40
1
42
1
Partnership with Airport.
28
1
Innovation and Commercialization
2010-2011 Goal
120
Quarter 3
77
YTD
171
New Clients
20
15
29
Existing Client Meetings
100
62
142
$20,000,000
$65,484,484
$65,484,484
Federal Funds
$15,357,667
$15,357,667
Funding received by regional companies from federal agencies.
KY State Funding Programs
$6,546,471
$6,546,471
Funding received by regional companies from a variety of state programs
targeted at technology-based companies; SBIR/STTR match program, KY
enterpriese funds, forgiveable loan program, …
Friends/Family/Founders
$14,855,671
$14,855,671
Funding for startup companies provided by the founders
Angel Investors
$6,934,435
$6,934,435
Funding received from private investors; e.g., the Bluegrass Angels
Venture Capital
$3,130,000
$3,130,000
Funding received from venture capital firms; e.g., Chrysalis Ventures, KY
Highlands, River Cities Capital, Adena Ventures
Strategic Partners
$12,545,727
$12,545,727
Other
$6,114,513
$6,114,513
Clients Served
Funding Received
Jobs Created
The Lexington ICC is part of a state-wide program funded by DCI. The
objective of the program is to create more technology-based businesses and
jobs in the state. The Lexington ICC serves UK, Lexington, and the
surrounding counties.
262
262
New Technology Based
Start Up Companies
22
22
Existing Technology Based
Job Growth
240
240
$0
$0
50
Capital Investment
$0
$0
Capital Investment
Workshops/Training/Oth
Objective is to help create higher paying jobs with average salaries exceeding
$60,000.
Number in
Attendance
Number of
Events
850
12
Lexington Venture Club
5Across
Number in Number of
Attendance
Events
Number of
Events
441
7
1,268
24
295
3
489
6
see ED tab. Lexington Venture Club is a joint initiative between UK and
Commerce Lexington.
105
1
Bench to Business UK Networking Event
271
6
The Bluegrass Angels are the first organized angel group in KY. Their mission
is to provide early-stage capital and mentoring to new scalable businesses in
the region.
B2B
Bluegrass Angels
Number in
Attendance
60
2
in2Lex: (n) Innovators, engineers, techies, and entrepreneurs who gather to
share ideas. Alliance of forward thinkers. The future of Lexington’s innovative
spirit.
Activities
600
6
55
1
302
7
UK Business Classes
Workshops
250
6
31
1
101
4
Workshops set up in conjunction with funding sources as a tutorial and
questions answered sessions.
Von Allmen Center Marketing for High Tech Start Ups
Small Business Development Center
Clients Served
2010-2011 Goal
300
Clients that had counseling
services with the SBDC.
Funding Received
Dollar amount and number
of loans received or equity
financing received
Quarter 3
80
YTD
264
300
80
264
$2,500,000
$1,217,500
$4,785,923
$2,500,000
$1,217,500
$4,785,923
12
3
8
12
3
8
$0
$0
$0
Jobs Created/
Businesses Created
Jobs created from
counseling clients that
started business
Capital Investment
A client is the business, if it exists. In the case of a
prospective business, the client is the individual (i.e.,
nascent entrepreneur) receiving SBDC services.
Counseling is defined as services provided to an
individual and/or business, i.e. client (see above)
that is substantive in nature and is in the area of
business formation, management, financing, and/or
operation of a small business enterprise.
Businesses that are started as a result of SBDC
counseling/consulting.
$0
Workshops/Training
Customers that attended
training conferences at the
SBDC
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
Number in
Attendance
Number of
Events
300
45
178
26
400
47
300
45
178
26
400
47
Training is defined as an activity or event in which
the SBDC plays a substantial role in delivering a
structured program of knowledge, information or
experience on a business-related subject. There
must be one or more attendees.
Submitted By:
Lexington-Fayette Urban
County Government
Quarterly Report
January 1—March 31, 2011
ECONOMIC DEVELOPMENT
B
y the Numbers:
In the 3rd Quarter Fiscal Year 2011 (January 1 – March 31), Commerce Lexington’s
Economic Development Division responded to calls from the following:
New Business
28
33
Existing Client
3
19
Exisiting Business
Visits
LFUCG Quarterly Report—January 1—March 31, 2011
Client Visits
Company News &Announcements
G
overnor Steve Beshear, Mayor Jim Gray and Commerce Lexington’s Past Chairman, Kim Menke, announced on March 2 Lockheed Martin’s commitment to retain 1700 jobs in Lexington at Bluegrass
Station and add 224 new jobs to their operations. Lockheed
Martin was recently awarded a government Logistics Support
Services contract. The company plans to invest $26,000,000 in new facility improvements, as
well as new equipment. Lockheed Martin is one of Lexington’s top payroll producers and is an
active corporate citizen. Congratulations to Lockheed on their expansion! Thank you to all the
councilmembers who attended the announcement!
C
ommerce Lexington recently announced that Allconnect Inc. is establishing a new
220 person sales and customer care center in Lexington! The company is a consumer
services company and assists customers in ordering and transfer home services such
as cable, Internet, and phone services. Allconnect is opening a 32,000 square foot
facility in Coldstream Research Campus and is investing nearly $7 million. The company, headquartered in Atlanta, will be a great addition to our community!
Lexington Name Best Place For Jobs
A
recent survey from Manpower revealed that Lexington, KY
is the #1 best city for finding a job this spring! According to
the survey, Lexington can expect a 24% net employment
growth. The economic development team has been working with an increased number of existing businesses this quarter on
expansion plans, which solidifies this ranking. Way to go Lexington!
This ranking was also featured in Time magazine’s cover story called
“Where Are All the Jobs.”
Council District Day
“I very much enjoyed and profited from meeting the managers of three key businesses in the 2nd Council District. While I had a general idea of Cintas’s business, I
was completely ignorant of what is being produced in the ASC and ITW plants. I
want to thank the officers who took the time to show me through their establishments, explain their operations, and answer my questions. Council District Day
was a valuable educational experience for me. I’m grateful for the opportunity
that Commerce Lexington and my guide, Kelly Cain, provided.”
10th District Councilmember Doug Martin had this to say about Council District Day:
"The Kentucky Blood Center and St. Joseph Hospital are each located in the 10th District and are two of Lexington's most important healthcare providers. Council District
Day was a great opportunity to sit down with leadership teams from these valuable
community partners and hear their concerns about Lexington and the 10th District.
This was time well spent and I look forward to Council District Day next year!"
C
ommerce Lexington continues to build upon successes
with the Council District Day initiative. Doug Martin and
former councilmembers Cheryl Feigel and Andrea James participated in 2010. This
year is off to a fantastic start with Councilmember Tom Blues participating in March.
Staff has enjoyed working with council members, while council members find the experience
beneficial.
T
he Lexington Venture Club rocked the annual Entrepreneurial Celebration on January
25at Buster’s Billiards and Backroom. Nearly 90 start-up and entrepreneurial companies were recognized for raising over $65 million in funding in 2010! Our theme, Rock
Stars of the Startup Community, rang true throughout the evening. In addition to recognizing these rockin’ entrepreneurs, the Venture Club showcased three awards of the evening. Our Best New Artist award went to Intralink-Spine who recently relocated their biotech
medical device company from Austin, TX. APOonline was awarded with Best Live Performance
for their win at the 5 Across event, a spin-off event of Lexington Venture Club featuring five
entrepreneurial pitches every other month. APOonline won the finale competition in December. Last, but certainly not least, Dr. Lee T. Todd, Jr. was honored with the Lifetime Achievement award. Dr. Todd is a huge supporter of the Lexington Venture Club and the group honored his last performance at the event.
The Lexington Venture Club is proud of all the companies recognized this year. For more information about the event and to see the companies recognized and the videos of the award winners, please visit: www.lexingtonventureclub.com.
2011 Luncheon Dates
March 23, 2011
May 25, 2011
July 20, 2011
September 21, 2011
November 16, 2011
(All luncheon events will be held at the Hyatt Downtown from 11:30 a.m. to 1:30 p.m.)
A
rea manufacturers gathered for lunch on Wednesday, February
9th at Kentucky Eagle, Inc. to learn more about the Kentucky Export Initiative. Ying Juan Rogers, Executive Vice President of the
Kentucky World Trade Center, talked about the initiative and other services that the organization can provide. It was a very informative session and many people in the room took away information to help them grow
their businesses.
KentuckyUnited
C
ommerce Lexington, as part of the Bluegrass Alliance, attended the KentuckyUnited
marketing trip to Dallas in January. KentuckyUnited is a statewide marketing initiative sponsored by local economic development agencies. Commerce Lexington met
with several site selection consultants at the reception event, as well as companies
evaluating Kentucky as a potential business location. During the trip, we represented the Bluegrass Alliance, which is the regional economic development initiative that includes Bourbon,
Clark, Fayette, Franklin, Jessamine, Madison, Scott and Woodford Counties.
F
or 2011 we have shifted some of our marketing budget to a new initiative through PR
Newswire. Commerce Lexington will work with Meridian-Chiles on writing six stories
that will be sent to PR Newswire. PR Newswire has an extensive database of over
5,700 publications and websites. They release the story to each publication and track
which ones published the story. The first story we are working on is the Lexington Venture
Club annual entrepreneurial celebration.
For print advertising, we have placed ads in the Business Facilities Site Seekers’ Guide, as well
as the March issue featuring editorial on Lexington. We also plan to place an ad in the May
biotech issue. We have also placed ads in the Kentucky Alumni magazine, Keeneland spring
program, and the Equestrian magazine.
Marketing & Advertising
BUSINESS AND EDUCATION NETWORK
T
his is the only program in Fayette County in which teachers spend a week out in the
business community learning about economic and workforce development issues
and opportunities. The intent of the institute is to provide a forum for teachers to
directly connect to business expertise. The business people demonstrate how subjects such as math, science, communications and more are actually applied in the business
setting. The LTI provides teachers an excellent forum in which to gain insight into the applied
side of what they teach and incorporate more relevant examples and information into their
respective curriculums. For many teachers, the LTI is their first opportunity to delve into and
learn about what types of companies are in Lexington along with learning about what technical
skills and education students need to have to be successful. Nearly 200 teachers have participated in the last four years.
WORKFORCE DEVELOPMENT
T
his is the only program in Fayette County designed to connect with high-performing
students in Fayette County Schools, who are going to college outside of Kentucky.
The intent behind the BBG is to connect these students, who have already decided to
go to school outside Kentucky, with companies or organizations in Central Kentucky…
ones with high-level, high-tech and interesting career opportunities that perhaps the students
do not know about. They are already leaving Kentucky. The BBG shows them there are reasons for them to come back to Lexington sooner rather than later. Students who are selected
receive a $1,000 scholarship and a 4-6 week internship/mentoring opportunity. Students must
apply and meet criteria such as minimum GPA, ACT or SAT scores and go through a face-toface interview. 2011 marks the fourth year of the BBG.
T
his is the only summer weeklong program available to up to 30 Fayette County juniors and seniors in which they learn about business and entrepreneurship by
meeting successful local entrepreneurs, visiting businesses and working with mentors to
devise a business plan. They also learn about economic development issues and learn about different
companies in Lexington that offer interesting, challenging and viable career opportunities. The ELI opens
their eyes to what Lexington and its business community have to offer, whether it is support for an entrepreneurial venture or other business/career options.
More than 200 students have attended the ELI in the
last eight years.
www.bluegrassjobs.com
T
he job portal that aggregates thousands of jobs from many different websites including major job boards such as Careerbuilder and Monster as well as individual company websites. This makes it easier for the job seeker in that the majority of jobs are
listed in one place. On average, the have been 4,000+ jobs aggregated through the
portal. From January 1—March 31, 2011, the site was viewed nearly 300 times.
COMMUNITY & MINORITY
BUSINESS DEVELOPMENT
Lexington.
Minority Business Development Advisory
Committee
D
anny Murphy, Assistant Dean of UK’s College of Law, conducted his first meeting as
chair of the MBDAC 2011 in March. The established members that were able to
attend were: P.G. Peeples, George Brown, Stephanie Powell, Keith Peel, and Mark
Hill. We also welcomed new members Shirie Hawkins of the Bluegrass Small
Business Development Center, and a partner of the Bluegrass Business Development
Partnership; and Marilyn Clark, LFUCG. The topics of discussion included: Overall Metrics,
Client activity, the calendar of meetings and events, as well as future agenda items.
COMMUNITY & MINORITY BUSINESS DEVELOPMENT
W
e can report that $140K loan closed during this period. That takes the Access
Loan Program to well over $8.6 Million as of this report. The success of the
program has also attracted two new requests for membership by
representatives of Kentucky Bank Clark County and Whitaker Bank in
COMMUNITY & MINORITY
BUSINESS DEVELOPMENT
Events
We also attended a best practices event in Corbin, Kentucky sponsored by Kentucky
Association of Economic Developers, which featured Mr. Jerry Ricketts, President/CEO of
Kentucky Highlands Investment Corporation. We as a staff have also had many meetings with
a combination of the media, LFUCG, and steering committees regarding the Angelou Economic
Development strategies report, now scheduled to be revealed soon.
At the end of 2010, a partnership was developed with the Frankfort office of Community
Ventures Corporation to present “The Keys to Financing a Business Loan” to attendees of its
business classes. So far, we have made two such presentations before a total of 28 people
interested in starting a business. This activity will continue throughout the 2011 calendar
year. Tyrone is a member of the Lexington Fayette Minority Business EXPO Committee. The
committee conducted its kick-off meeting here at Commerce Lexington earlier this month. The
two-day event is scheduled for late July of this year.
COMMUNITY & MINORITY BUSINESS DEVELOPMENT
S
taff attended several events representing minority businesses during the period of this
report. The most significant would have to be Governor Steve Beshear’s invitationonly event for MBE’s and people who represent MBE’s on the $4.1 Billion event to
announce the construction of the Indiana, Ohio, and Kentucky Bridges, and the second
would be the break-out session on the second day. It turned out to be a great place to
connect with companies who will need minority business owners and sub-contractors with
which to work over the next year or so.
Commonwealth of Kentucky
Office of the Governor
FOR IMMEDIATE RELEASE
Contact: Kerri Richardson
502.564.2611
502.330.6633
Jill Midkiff
502.564.2611
502.330.1185
Mandy Lambert
502.564.7670
Governor Beshear Announces Lockheed Martin to Secure Kentucky
Footprint, Add 224 Jobs in Lexington
Company to invest $26 million at Bluegrass Station to support new government contract
LEXINGTON, Ky. (March 2, 2011) – Gov. Steve Beshear today announced Lockheed
Martin is reaffirming its commitment to Kentucky with a $26 million investment at
Lexington’s Bluegrass Station. The global security company was recently awarded a
major contract for Logistics Support Services that will result in securing its statewide
presence, as well as add 224 new, full-time jobs in Lexington over the length of the
contract.
“This $26 million investment by Lockheed Martin sends a strong and clear message that
Kentucky is a true partner with its existing businesses,” said Gov. Beshear. “Not only
will this project enhance Lockheed Martin’s existing footprint in Kentucky, it will add
224 new jobs in the Lexington community. This is a win-win situation for everyone.”
The logistics contract is supported by 1,856 full-time Lockheed Martin and partner
company employees across Kentucky, including Bluegrass Station, Fort Campbell and
the Blue Grass Army Depot in Richmond. Lockheed Martin’s investment will entail
numerous improvements to existing state-owned facilities, as well as equipment costs that
will increase the performance and longevity of the operations.
“This investment will improve the existing equipment, tools, and facility infrastructure as
well the overall efficiency and quality of work to position us as a world-class sustainment
operation within the Commonwealth of Kentucky,” said Howard Yellen, Lockheed
Martin vice president. “Our joint vision is to develop the existing workforce while
making strategic investments in equipment and infrastructure for the long-term growth
into a Sustainment Center of Excellence.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily
approved Lockheed Martin Corporation for tax incentives up to $15 million through the
Kentucky Business Investment program. The performance-based incentive will allow
Lockheed Martin to keep a portion of its investment over a 10-year period through
corporate income tax credits and wage assessments by meeting job and investment
targets.
KEDFA also approved the company for tax benefits up to $415,000 through the
Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup
Kentucky sales and use tax on construction costs, building fixtures, equipment used in
research and development and electronic processing equipment.
“Lockheed Martin is ranked 44th on the Fortune 500 list and is an international leader in
the aerospace and defense industries,” said Lexington Mayor Jim Gray. “These are good
jobs with a future. We’re extremely pleased that Lockheed Martin is remaining and
growing jobs in our community.”
“Many people don’t realize it, but from an employment standpoint, the military’s impact
is felt throughout the Bluegrass. Together, Bluegrass Station in Fayette County and
Bluegrass Army Depot in Richmond account for an annual economic impact of more
than $400 million within our region,” said Bob Quick, president & CEO of Commerce
Lexington Inc. “Lockheed Martin has certainly contributed to that figure, and we
appreciate its commitment to our community by retaining and creating new jobs for our
economy. We are excited about Lockheed Martin’s expansion effort, and we look
forward to a great partnership for many years to come.”
For more information on Lockheed Martin, visit http://www.lockheedmartin.com/.
Information on Kentucky’s economic development efforts and programs is available at
www.ThinkKentucky.com.
A detailed community profile for Lexington (Fayette County) can be viewed at
http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.
###
Commonwealth of Kentucky
Office of the Governor
FOR IMMEDIATE RELEASE
Contact: Kerri Richardson
502.564.2611
502.330.6633
Jill Midkiff
502.564.2611
502.330.1185
Mandy Lambert
502.564.7670
Governor Beshear Announces Allconnect to Establish
Sales and Customer Care Center in Lexington
Operation will create up to 220 new jobs, entail nearly $7 million investment
FRANKFORT, Ky. (March 30, 2011) – Gov. Steve Beshear today announced
that Allconnect Inc., a leading consumer services company, is locating a new inbound sales and customer care center in Lexington. The company is investing
nearly $7 million to establish an approximately 32,000 square-foot facility in the
Coldstream Research Campus that will add up to 220 new jobs in the
community.
“I’m pleased to welcome Allconnect to the Commonwealth,” said Gov. Beshear.
“The company’s new facility will have a positive economic boost on the
Lexington community, creating new jobs for Kentuckians. We look forward to
continuing an ongoing partnership with Allconnect to create additional
opportunities in the future.”
The new operation will allow consumers to order or transfer home services, such
as satellite and cable TV, Internet, phone, and home security service. Allconnect
is based in Atlanta, Ga., and has relationships with a variety of service providers
across the country, including AT&T, Comcast, DIRECTV, DISH Network, Time
Warner Cable, and Verizon. The facility is expected to be operational in summer
2011.
“Our new Lexington facility provides the technology foundation and first-rate
workforce required to support our growing customer base with the best
consultation and service as they compare and select home services,” said
Allconnect CEO Mark Miller. “The opportunities for growth and the pool of
talent in Lexington are an ideal fit as we continue our rapid expansion and
deliver the highest quality service to every single customer.”
The Kentucky Economic Development Finance Authority preliminarily
approved Allconnect for tax incentives up to $2.2 million through the Kentucky
Business Investment program. The performance-based incentive will allow
Allconnect to keep a portion of its investment over a 10-year period through
corporate income tax credits and wage assessments by meeting job and
investment targets.
“It’s good to welcome Allconnect, a new corporate citizen bringing jobs to
Lexington. Our people need jobs and we need to compete in every arena,” said
Lexington Mayor Jim Gray. “Thanks to Governor Beshear, Economic
Development Cabinet Secretary Larry Hayes and Commerce Lexington for their
recruiting efforts.”
“We are excited to announce the location of Allconnect to Lexington,” said Bob
Quick, president & CEO, Commerce Lexington Inc. “Lexington is thrilled to be
the top city selected amongst four cities and three states. We look forward to
working with Allconnect as they establish a new operation creating new jobs for
our citizens. Welcome to Lexington!”
For more information on Allconnect, visit www.Allconnect.com or follow them
at www.twitter.com/Allconnect and www.facebook.com/Allconnect. For press
inquires, contact [email protected]. Candidates can apply at
www.Allconnect.com/Lexington.
Information on Kentucky’s economic development efforts and programs is
available at www.ThinkKentucky.com.
A detailed community profile for Lexington (Fayette County) can be viewed at
http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.
###

LFUCG Metrics - 01-1-2011 to 03-31

Transcription

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