HUD Awards Eight Southeastern Counties Promise Zone Status
Eight southeastern Kentucky counties have been awarded a national Promise Zone designation from the U.S. Department of Housing and Urban Development (HUD). Bell, Harlan, Letcher, Perry, Leslie, Clay, Knox and part of Whitley County together make up one of only five Promise Zones in the country.
The initiative, which was applied for by the Kentucky Highlands Investment Corporation (KHIC) and several community partners, will give the area a competitive advantage in applying for federal grants, as well as additional assistance from various federal agencies that oversee housing, education, economic development, agriculture and safety. Those agencies also will provide increased coordination to help the counties maximize federal and private investment.
According to HUD, each designated Promise Zone will be asked to identify a set of outcomes they will pursue to revitalize their communities, develop a strategy supporting those outcomes and realign resources accordingly. For communities selected, the federal government will partner to help the Promise Zones access the resources and expertise they need.
“Being awarded this designation is a testament to the collaboration and leadership in the region — from the private sector to local governments to nonprofit organizations,” said Jerry Rickett, president and CEO of KHIC. “This initiative will be driven by the true needs of community, build upon the region’s assets and contain comprehensive solutions to address the many challenges facing our region.
“With input and effort from the entire community, we can create a sustainable strategy for the future,” he said.
KHIC will coordinate and manage the resources. It will include partnerships among local, state and federal governments; the nonprofit sector; schools, colleges and universities; law enforcement; and private sector investment.
Other areas selected for Promise Zones by HUD are: the cities of Los Angeles and San Antonio, the Mayor’s Office of Community Empowerment and Opportunity in Philadelphia and the Choctaw Nation of Oklahoma.
Kentucky Tops Nation in New Business Creation
Kentucky led the nation in new businesses created, according to the most recent data from the U.S. Bureau of Labor Statistics.
The commonwealth saw a 6.05 percent year-over-year jump in new businesses opened during the second quarter (Q2) of 2013, the most recent quarter for which information is available.
That quarter saw 6,686 new businesses open in the state.
“Business creation is one of the key building blocks for economic development,” Gov. Steve Beshear said in a release from his office. “The fact that Kentucky leads the nation in this key metric by a big margin shows that our hard work has put us on the right track. New businesses are a sign of economic know-how and success, so this report is important to both the business community and the Commonwealth.”
During the first quarter of 2013, Kentucky ranked second nationally, by percentage, in new businesses opened. During the fourth quarter of 2012, it ranked third, and during the third quarter of 2012, it ranked fourth. Over the four most recently reported quarters, Kentucky ranked third nationally in new businesses created.
Kentucky Utilities and Sister Company Plan Natural gas and solar power facility
Kentucky Utilities and its sister company Louisville Gas and Electric have filed an application for certificates of public convenience and necessity with the Kentucky Public Service Commission, requesting approval to construct a second natural gas combined-cycle generating unit (NGCC) and a solar-generating facility. The NGCC plant, to be located in Muhlenberg County, is expected to create about 40 permanent full-time jobs and several hundred construction jobs in western Kentucky.
Due to increased federal environmental regulations, KU and LG&E previously announced they are retiring 800 megawatts of older coal-fired generation — at Cane Run, Green River and Tyrone stations — and building a 640-megawatt NGCC unit at Cane Run. The companies announced their plans to build a second NGCC and a photovoltaic solar facility in October, following a year-long review of proposals to address the remaining lost generation and long-term load growth.
The utility companies evaluated competitive bids that included renewable energy, existing energy within Kentucky and building new generation. The utilities also considered short-term proposals — from one to five years — and long-term proposals of 10 to 20 years. After careful analysis, building a second NGCC at the existing Green River site proved to be the best long-term solution for baseload generation. The unit is expected to add approximately 700 megawatts of capacity and cost approximately $700 million to construct. Additionally, the companies will be seeking to construct about a 10-megawatt solar facility, costing approximately $36 million, at the Brown generating station.
“Our filing outlines the importance and the need for this additional generation,” said Ed Staton, vice president of State Regulation and Rates. “Due to the more stringent environmental regulations, we are planning to retire six of our older coal fired units, which will require us to build additional units to serve our customers’ energy needs in the future.”
The utilities intend to have the NGCC unit online in 2018 and the solar facility online in 2016. If approved, KU and LG&E’s generation capacity will be 59 percent coal-fired, 40 percent natural gas-fired and 1 percent renewable.