Kentucky closing the gap - but not the way we wanted
It wasn't all bad news that was presented earlier this month at the 20th Annual Economic Outlook Conference. While both the state and national economies have felt the pain of the economic downturn, Kentucky hasn't seen the same precipitous plummet experienced by the rest of the nation. Of course, we also didn't have as far to fall, according to Dr. Kenneth Troske, UK economics professor and director of the Center for Business and Economic Research.
While unemployment rates in Kentucky have historically been higher than the national rates, that gap has gotten smaller since 2008, so that today there is essentially not much difference between the two, Troske said. And while Kentucky's foreclosure rate has also been higher than the national average in the past, recent increases in foreclosures have been much less dramatic here than those occurring on the national level. As a result, the foreclosure rate for the rest of the country is now higher than that experienced by Kentucky, according to Troske.
But just because the state hasn't fallen as hard doesn't mean it hasn't fallen. Kentucky has felt the sting, especially in regard to the drop in exports and the loss of manufacturing jobs, according to Troske. Job losses in manufacturing, which accounts for roughly 13 percent of the state's employment, have been particularly devastating for Kentucky, Troske said. Between 30,000 and 40,000 manufacturing jobs have been lost across the state in the last year alone.
Lexingtonians may also take comfort in the fact that their economy appears somewhat stronger and steadier than their metropolitan neighbors.
"The Lexington economy has been much more dynamic than either Louisville or Northern Kentucky/Cincinnati," Troske said. "That has a lot to do with the types of industries we have."
In particular, Lexington's higher education, government and healthcare jobs have not been hit as hard by the downturn.
Over the next year, Troske said he expects to see the overall economy contract by about .5 percent. The Kentucky economy, he believes, will fair slightly better, with Lexington's economy staying strong - from a relative perspective.
"We're a poor state," Troske added, "and that's not going to change in this current climate." - Susan Baniak
Grant to fund parent leadership institute with a STEM focus
Parents interested in becoming advocates for improved science and math education in their schools and communities now have access to training and support. The program is a joint project of the Prichard Committee for Academic Excellence, and the Carol Martin Gatton Academy of Mathematics and Science and The Center for Gifted Studies at Western Kentucky University.
A $275,000 grant from the James Graham Brown Foundation to the Prichard Committee will fund creation and implementation over two years of the Commonwealth Institute for Parent Leadership (CIPL) focused on science, technology, engineering, and mathematics (STEM) disciplines.
Since CIPL was launched in 1997, about 1,500 parents have participated in six days of intense instruction to gain the knowledge and skills they need to become leaders in school improvement.
The curriculum focuses on leadership skills, planning and strategic development as well as elements of Kentucky's education and accountability systems. After completing the institute, parents work with educators and other parents on projects targeting specific areas of student achievement. Projects in this institute will focus on opportunities to increase student achievement in science and mathematics in the participants' schools and districts.
Those interested should contact Lou Ann Ramos at the Prichard Committee at lramos@prichardcommittee.org or apply online at www.cipl.org. Applications are due April 15.
Manufacturers asked how to remain competitive and successful
What will Kentucky manufacturers need to do to remain competitive and successful in the year 2015? That is the key question in an online survey designed to show Kentucky manufacturers how they stack up statewide, as well as how they compete within a multi-state region.
The Next Generation Manufacturing survey is a joint effort of the American Small Manufacturers Coalition, the Kentucky Manufacturing Assistance Center (KMAC) and its partners, which include the Kentucky Cabinet for Economic Development, Kentucky Chamber of Commerce, E.ON U.S. and the Tennessee Valley Authority.
The survey looks at six major competencies that manufacturers need to be successful in 2015 and beyond, including: investing in customer-focused innovation; engaging in continuous process improvement; tapping into global markets; developing a skilled and engaged work force; using partnerships or supply chains for strategic advantage; and incorporating "green" or sustainable practices into growth and operating strategies.
KMAC is making the survey available online to Kentucky's approximately 4,200 manufacturers. The questionnaire is confidential and takes about 30 minutes to complete. To participate, go to www.NGMStudy-Kentucky.com
Thinking about a career change? "Try Teaching"
Now in its fourth year, Eastern Kentucky University's "Try Teaching" program is accepting applications from mid- and second-career professionals who are intrigued about their potential in front of a classroom.
Sponsored by Ashland, Inc., the program is designed to appeal to those who have doubts about leaving their current job behind to return to college for a second degree. It allows participants to gauge their comfort level as a classroom teacher before making a life-changing career move.
The program has attracted 28 participants in its first three years. Each spent one or two weeks in a K-12 classroom, gaining first-hand experience as they assisted in the preparation and execution of lesson plans while learning successful educational practices from their teaching mentors.
Participants have the option of one- or two-week placements in elementary, middle and high schools throughout central and southeastern Kentucky, as close to home as possible.
In addition to classroom time with their mentoring teacher, "Try Teaching" participants will spend time with a university-level educator to learn more about certification procedures, the teaching profession and career benefits.
A preliminary screening will pre-qualify participants and reduce the risk that a participant would be ineligible for EKU's Masters in Teaching program. Those interested in the "Try Teaching" program will be asked to assemble educational transcripts, a professional resume and letters of recommendation, and will be interviewed to assess their overall disposition to teach. Also, before introducing anyone into a classroom setting, EKU will complete stringent state and federal background checks on all program candidates.
The application deadline this year is June 15. Because the number of participants will be limited, interested individuals should contact program coordinate Cynthia Resor as soon as possible at 859-622-2165 or at Cynthia.resor@eku.edu. More information is available at www.tryteaching.eku.edu.
In the numbers: a portrait of Kentucky agriculture
Kentucky farmers took in $4.82 billion from the sale of farm products in 2007, according to the 2007 Census of Agriculture. That's an average of $56,586 per farm and a 57 percent increase over the last census in 2002.
The number of tobacco farms in Kentucky declined 72 percent since 2002 to 8,113, according to the census. Tobacco acres harvested fell 21 percent from 2002. The federal tobacco quota and price support system was eliminated after the 2004 growing season.
The census showed that slightly fewer people farmed slightly more acres in Kentucky in 2007 than in 2002. Eighty-nine percent of Kentucky's 85,260 agricultural operations are still run by individuals or families, and most are still small farms. The number of farms declined 1 percent from 2002, but the size of farms increased 1 percent from an average of 160 to 164 acres.
The number of full-time farmers in Kentucky dropped from 54 percent in 2002 to 40 percent in 2007. The average age of farm operators was 56.5 years old, up from 55.2 in 2002.
Twenty-seven percent of agricultural producers were women in 2007, and the number of women who were principal operators increased 10 percent from 2002. African American principal operators dropped from 687 to 505 in the five years after 2002.
Huskisson column to highlight arts-friendly businesses
Since its inception almost four years ago, Business Lexington has encouraged the recognition that art is a direct reflection of local life - that the creation, consumption and appreciation of art, as well as experiences with it are essential traits of a thinking, creative and competitive community.
Many members of our business community are somehow engaged in the arts, yet little is known of the details of that engagement. Some admire and acquire; others execute or perform. In the coming months in an ongoing series of interviews with members of the central Kentucky business community, Arts and the Economy columnist Christine Huskisson will explore these personal interests along with perceptions of how the arts are beneficial to local culture, business and economic development.
We hope to hear from individuals in the community who are willing to share their artistic interests - including their own collections and/or talents. We hope many will show us how they have enriched their workplaces and those who visit them by displaying original works. By offering their example, these individuals can help our community become more comfortable with the idea that an openness to and support of artistic expression- -from the visual to the sonic - is more relevant than ever.
Interested in sharing? We'd like to hear from you. Contact christine@smileypete.com or tom@bizlex.com.