"
Grants reveal growing high-tech sector in area
12 of 20 Kentucky high-technology companies recently awarded state matching funds are concentrated in Fayette County or in the surrounding region.
The grants, ranging from $69,999 to $100,000, are for Phase 1feasibility research and are part of the state's efforts to attract and support high-tech small businesses.
Central Kentucky recipients include the following:
Advanced Dynamics of Lexington models and simulates aerospace, marine and automotive systems.
Oraceuticals of Lexington develops natural products to prevent and manage oral diseases.
Lumenware of Lexington develops software to eliminate cables and ease use of displays, keyboards and speakers.
Adaptive Intelligent Systems of Lexington is working to improve welding quality and productivity with new technology.
ParaTechs of Lexington focuses on research to create proteins from the cells of caterpillars (see article on page 11).
Lexington's Mersive Technologies is redefining the process of designing ultra-resolution, multi-projector displays.
Topasol of Lexington focuses on multifunctional coatings for aerospace and solar power industries.
Nethery Technologies of Fayette County is developing gasification technology to convert poultry litter into fuel.
Naprogenix is a Lexington biotechnology company working to commercialize bioprospecting technologies targeting the pharmaceutical and nutraceutical industries.
ECM Biosciences of Woodford County is developing technologies to advance research in cancer and other diseases.
customKYnetics of Woodford County is developing rehabilitation products for paralysis patients.
Wilson's Cedar Point Farms of Nancy, Ky., is teaming with UK researchers to study premium quality peppers.
KCTCS report cites KY workforce challenges
The competitive pressures of the global marketplace, changing demographics, and the need for higher level technical and supervisory skills all point to a precarious position for Kentucky's current and future workforce, according to a new report from Kentucky Community and Technical College System. The report -- "In the Eye of the Storm: Confronting Kentucky's Looming Workforce Crisis" — was presented at the recent Kentucky Chamber of Commerce Economic Summit in Louisville. It cites significant workforce development challenges in healthcare, manufacturing and education. Those challenges include, according to the report, "lack of a sufficient pool of qualified workers; limited availability of technically-skilled employee and escalating healthcare costs."
"In the eye of the storm, winds are calm, little or no precipitation falls and the sun may even shine," KCTCS President Michael B. McCall stated in a press release. "But outside this tranquil center, a storm is building pressure for a devastating landfall. This image appropriately describes the powerful forces encircling Kentucky and threatening our position in the globally competitive marketplace."
McCall said he kept these economic forces in mind as he traveled the state recently to conduct CEO dialogues with more than 300 local business executives in 17 regional settings."Their comments and concerns, together with state and national reports underscoring the workforce challenges before us, will require us to reengineer our workforce training programs to align more closely with the needs and competitive strategies of Kentucky's businesses and industries," McCall said.
Results from the CEO dialogues are included in the "Eye of the Storm" report along with details of a new KCTCS Strategic Workforce Preparedness Initiative.
A copy of the report is available online at: http://www.kctcs.edu/newspublications/2007/ kctcs_ceo_summary_report.pdf
Additional recommended reading on this subject can be found on page 35.
2007 state property tax rate set at 12.4 cents
The Kentucky Department of Revenue has set the 2007 State Real Property Tax Rate at 12.4 cents per each $100 of assessed value. The Department of Revenue is required by law (KRS 132.020) to set the real property rate no later than July 1 of each year.
The rate is based on the percentage increase of taxable real property from 2006 to 2007. If the increase is more than 4 percent after the exclusion of property newly added to the tax roll during 2007, then the prior year rate must be reduced to limit the revenue increase to 4 percent. Since the assessment increase for 2007 is estimated at 6.8%, the state rate must decline from 12.8 to 12.4 cents per $100 of assessed value.
$5.5 million makeover for Lexington hotel
The Doubletree Guest Suites-Lexington on Richmond Road is slated for a $5.5 million renovation.
Roger Miller of the Atlanta-based hotel ownership and management firm, Hospitality Ventures, LLC, said of the company's plans for the former Sheraton Suites of Lexington, "we're going to update the entire property and at the same time maintain the French Quarter ambience. A large emphasis is going to be put on the sleeping rooms. They're going to be upgraded dramatically to the Doubletree Guest Suites standards, and beyond."
The 155-suite property was re-flagged a Doubletree Guest Suites when a joint venture between RockBridge Partners (an affiliate of RockBridge Capital, LLC) and Hospitality Ventures acquired the hotel and the adjacent French Quarter Square retail center last month.
"Lexington is a very stable, very diversified, very good hotel market," Miller said. "It's structure of corporate base businesses that are in the area as well as leisure attractions that are annual there make it a very strong market for any hotel company to look into for acquisitions and new-builds."
Are future acquisitions in the market in the cards? "Robert Kohls, the owner and president of this company, is extremely aggressive right now with acquisitions. His partner, RockBridge Capital, is also very aggressive in future growth," Miller said.
Green announces resignation
Daniel Green announced at a recent Burley Tobacco Growers Cooperative (Co-op) Board meeting that he was resigning as acting director and secretary-treasurer of the Co-op.
"It was a privilege to work with such a great group of hard-working people," said Green as he talked about his years of working with the Co-op.
Daniel Green has worked for the Co-op for more than five years and has served as the acting director since December when Danny McKinney resigned as director. Green had previously worked with the Co-op directing legislative affairs and serving as the Co-op's financial officer.
"I have enjoyed the challenges and am proud to have participated in some of the extraordinary things the Association has accomplished for tobacco growers," said Green.
Green will continue working on tobacco issues at the University of Tennessee as the coordinator for the new Center for Tobacco Grower Research.
Hand specialists partner with Central Baptist
Kleinert Kutz Hand Care Center has entered into an exclusive agreement in Lexington with Central Baptist Hospital.
Kleinert Kutz plans 24-hour hand trauma services through Central Baptist Hospital's Emergency Department. The team of specialists at Kleinert Kutz Hand Care Center has developed highly specialized hand injury repair, reattachment and reconstruction surgical methods, and has performed the nation's only three successful hand transplants.
Mary Chiles becomes St. Joseph Mt. Sterling
The boards of directors of Mary Chiles Hospital and Saint Joseph HealthCare have signed a definitive agreement to transition Mary Chiles Hospital into Saint Joseph HealthCare on August 1. The hospital will be renamed Saint Joseph Mount Sterling. The agreement will also result in a brand new hospital.
Mary Chiles Hospital, incorporated in 1918, is a 63-bed, non-profit acute care facility.
Windstream commercial uses local scenes, talent
The official communication sponsor of the UK Wildcats scoured the country in search of the perfect shooting location for the company's new national advertising campaign. Windstream, planning a print and television advertising campaign, spent three days shooting in Lexington.
Featured in the commercial is the UK Wildcat mascot, Rupp Arena, the trademark Windstream truck (as seen in parades and tours across the country), and regional citizens who use Windstream services, said Director of Creative Services, Jean Ramano.
"We wanted to honor the heritage we have here in Lexington, and to contribute to the local economy by shooting in this location," said Ramano. That heritage includes being most recently known here in Lexington as the land and wireless provider, Alltel.
Area and regional freelancers were hired on the production team for this commercial, working in tandem with Windstream's New York advertising agency representatives, including a photographer, camera operators, a director, and even makeup.
Windstream celebrated its one-year anniversary July 17.
- By Jillian Jackson
WTVQ searching for Pimentel successor
Media General has launched a search for a new general manager of its Lexington station, WTVQ-36. Current GM Mark Pimentel has been named president and general manager of WHAS-11 in Louisville. He begins the new position on August 9.
Keeneland Concours d'Elegance Designated "Classic"
The Indiana Region of the Classic Car Club of America is conducting its "Grand Classic" event concurrent with the 2007 Keeneland Concours d'Elegance. The event is scheduled for August 23-26 at Keeneland.
The CCCA Grand Classic designation is an honor only bestowed upon the finest car events in the country. Worth noting is that the Keeneland Concours is being associated with such an event after only three years as a host site.
CCCA members are the proud owners of the finest and most rare cars that were built from 1925 through 1948. The lineup for this year's event includes Duesenbergs, Bentleys, Packards, and Rolls-Royces.
Proceeds benefit the Kentucky Children's Hospital and WUKY.
For more information go to- www.keenelandconcours.com