Kentucky real estate market sets record for third straight year despite issues with available inventory

For the third year in a row, Kentucky’s real estate market set new records in a number of areas despite inventory issues that kept many buyers on the sidelines for much of the year. Click on images to enlarge Total home sales reached in 2017 were the highest ever recorded in the state at 53,058, a 1.8 percent increase over the 52,129 sold in 2016. Kentucky Realtors (KYR) reported that over the past...

Community Trust Bank earns ninth ‘Gold Lender Award’ from Small Business Administration

Community Trust Bank, Inc. was recently honored for the ninth consecutive year with the “Gold Lender Award” from the United States Small Business Administration (SBA) as Kentucky’s top volume SBA 7a Community Bank lender for the federal fiscal year that runs from October 1, 2016 to September 30, 2017. The award was presented November 17, 2017 at the SBA Lender’s Conference...

LG&E and KU reach unanimous settlement to deliver nearly $180 million in tax savings to customers

Customers of Louisville Gas and Electric Company and Kentucky Utilities Company will begin to see the financial benefits associated with the Tax Cuts and Jobs Act beginning in March. The two utilities announced today that they will file a unanimous settlement agreement with the Kentucky Public Service Commission requesting approval to return tax savings to customers this spring. If approved by the...

BBB Trends: Review details before approving a contract for home remodeling project

By Sandra Guile Better Business Bureau Home remodeling shows highlight the latest and greatest must-have features to update any living space, and they’re a good way to gather information and ideas for a new project. Homeowners attending remodeling expos should plan to listen to presenters and pick up contact information from potential contractors – not go in with the intent to hire someone...

AgTech Scientific plans Bourbon County facility to develop hemp-based products; will create 271 jobs

AgTech Scientific plans to create 271 jobs at a new hemp-products development and manufacturing center in Paris as it forges relationships with Kentucky farmers and partners on research projects with the state’s flagship university. “AgTech’s plans for Bourbon County put the company at the forefront of realizing Kentucky’s potential as an international leader in hemp production,” said Gov....

Hardin Scientific Inc. announces $11.6 million facility planned for Greensburg, will create 50 new jobs

Biotech device maker Hardin Scientific Inc. will locate its new $11.6 million manufacturing and development operation in Green County, a project expected to create 50 full-time jobs. “Hardin Scientific combines cutting-edge science with the kind of business initiative we want to encourage more of in Kentucky,” said Gov. Matt Bevin of the announcement. “Companies like this are fueling our state’s...

Grimes tours Louisville’s Commonwealth Extracts, encourages growth in Kentucky Hemp economy

Secretary of State Alison Lundergan Grimes visited Commonwealth Extracts in Louisville to tour and learn more about the producer’s operation that is emerging as a leader in the fast-growing cannabidiol, or CBD oil, marketplace. Secretary of State Alison Lundergan Grimes talks with employees of Commonwealth Extracts (Photo from SOS) “Commonwealth Extracts is the premier example that Kentucky...

Keven Moore: Flu season is here, widespread across nation, and its impact is dramatic and can be deadly

A new influenza (flu) season is upon us and it is widespread nationwide. Thirty-two states have experienced high flu patient traffic, making this year’s flu season the most hectic for hospitals since at least 2009. While the impact of flu varies, it places a substantial burden on the health of people in the United States each year. CDC estimates that influenza has resulted in 9.2 million-35.6 million...

Novelis Inc. build new $305 million aluminum processing plant in Todd County, create 125 jobs

Aluminum supplier Novelis Inc. has announced a nearly $305 million investment in Todd County with plans for a new processing plant in Guthrie to produce automotive-grade sheet and creating 125 new jobs. “We are excited to see Novelis, a leader in the global aluminum industry, expand its Kentucky presence and bring new advanced-manufacturing jobs to Todd County,” said Gov. Matt Bevin Tuesday. “Partnering...

Tax time coming: KY Department of Revenue to begin accepting electronic and paper returns on January 29

Income tax season is just around the corner. The Kentucky Department of Revenue (DOR) is finalizing its processes and procedures, to make this the most efficient and safe filing season possible. The IRS will begin accepting both electronic and paper federal tax returns on Jan. 29. They will begin processing paper returns later in mid-February as IRS system updates continue. The IRS expects the earliest...

University of Kentucky to hold 29th annual Economic Outlook Conference Feb. 6 at Gatton College

By Carl Nathe Special to KyForward Will the bullish stock market of the past year continue throughout the rest of 2018? Is the outlook positive or negative for Kentucky’s economy? What impacts will the newly enacted federal tax policy have on government spending? Questions like these and many more will be addressed by a panel of experts on Tuesday, Feb. 6, as the University of Kentucky hosts the...

LBAR reports 5,328 sales in Fayette County in 2017 for a total of $1.2 billion, driving force in economy

Residential real estate sales by members of the Lexington-Bluegrass Association of Realtors (LBAR) positively impacted the Fayette County economy in 2017 with 5,328 reported sales totaling $1,231,435,452. Sales continue to be a driving force in Fayette County economy. 

Residential sales decreased three percent from 5,501 sales reported in 2016 to 5,328 sales reported in 2017. The median sales...

LG&E and KU offer helpful winter season reminders to help area residents stay safe and warm

With continued cold temperatures across the region, Louisville Gas and Electric Company and Kentucky Utilities Company are offering a few seasonal reminders to help area residents stay safe and comfortable in their homes. • Keep warm air in and cold air out – Ensure heating systems are operating efficiently. Seal leaks and gaps around the home with caulk, spray foam or weather-stripping. Make sure...

BBB Trends: If you are taking those steps toward ‘I Do,’ have a plan and don’t fall for high-pressure sales

By Sandra Guile Better Business Bureau At least 40 percent of engagements happen between Thanksgiving and Valentine’s Day and one of the first stops for many newly-engaged couples may be a bridal expo. A wedding is one of the most expensive, one-day investments a couple will make, so making a split-second choice might end in unnecessary extra costs. On average, couples will spend approximately $27,000...

Gross sales rise 21% on buyer confidence, demand for quality as Keeneland January sale comes to close

Keeneland’s 2018 January Horses of All Ages Sale concluded Thursday with healthy results that signal continued buyer confidence and demand for quality that buoyed the recent September Yearling and November Breeding Stock auctions. Evidence of market strength were the significant growth in gross, average and median prices spurred by competition among major domestic and foreign buyers who took advantage...

Keeneland marks milestone as January sale tops 2017 gross during Wednesday session

Keeneland’s January Horses of All Ages Sale reached a milestone Wednesday when gross sales of $31,744,700 through three days of the four-day auction exceeded total sales of $28,785,500 recorded during last year’s entire five-day auction. The total for 651 horses sold this year is 27.03 percent higher than the corresponding period last year when 581 horses brought $24,989,500. The average of $48,763...

Grade 2 winner Mrs McDougal brings $1.6 Million to top Tuesday session of Keeneland January sale

Grade 2 winner Mrs McDougal, the final horse in the ring for Tuesday’s second session of Keeneland’s January Horses of All Ages Sale, became the sale’s highest-priced offering when she sold to Steven W. Young, agent, for $1.6 million. Mrs McDougal and a yearling colt from the first crop of 2015 Triple Crown winner American Pharoah that sold for $1 million Tuesday are the most seven-figure horses...

Botanica awarded first Brownfield Redevelopment Program’s Cleaner Commonwealth Fund loan

Waterfront Botanical Gardens Master Plan Botanica Inc., a nonprofit in Louisville, will receive a $390,000 partially forgivable loan from the Kentucky Brownfield Redevelopment Program’s Cleaner Commonwealth Fund. Botanica Inc. will utilize the funds to help transform a former city dump into a state-of-the-art botanical garden. This is the first loan made from the Cleaner Commonwealth Fund since it...

Stakes winner Bellavais brings $485,000 to top first day of Keeneland’s January Horses of All Ages Sale

Keeneland realized double-digit growth in gross, average and median prices during Monday’s opening session of the 2018 January Horses of All Ages Sale, which was highlighted by the $485,000 paid by Steven W. Young, agent, for Bellavais, a stakes-winning daughter of Tapit from a successful female family developed and raced by Darby Dan Farm. Young said he purchased Bellavais for an undisclosed client...

LG&E and KU Energy chairman and CEO Victor Staffieri announces retirement effective March 8

Long-time leader of LG&E and KU Energy, Victor A. Staffieri, announced Monday that he plans to retire March 8 as chairman and CEO of the state’s largest utility. Paul Thompson, who was named president and chief operating officer in January 2017, will succeed Staffieri. Staffieri, who has been in LG&E and KU’s top role since 2001, has been directly involved in the strategic transformation...