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BARDSTOWN
Armag Corp. has been awarded a $49.9 million contract by the U.S. Department of Defense to supply the Navy with steel containers and accessories for portable weapons storage.  The work is expected to be complete by Sept. 2013.

BOWLING GREEN
Declining sales in the truck market are being blamed for layoffs at Bowling Green Metalforming, which has laid off some 50 employees. The company, which is owned by Magna International, employs approximately 900 people at its plant in Bowling Green and produces frames for General Motors and Ford pickup trucks.

Texas-based Perot Systems is expanding its operations in Bowling Green, where it provides service desk operations to clients in the health care industry. The company, which established its Bowling Green office about five years ago, plans to add 85 to 90 new positions to its staff of 200. 

BULLITT COUNTY
Louisville-based Hillsdale Furniture has leased 300,000 s.f. of warehouse space in Bullitt County that will serve as a distribution center for the company. The company has up to now been operating its distribution operations from a smaller warehouse in Louisville.

COVINGTON
BioLogic Corp. has announced plans to locate its U.S. headquarters in Covington. The company will function as the Greater Cincinnati Area Midwest Portal and Management Consulting Group for BioLogic affiliate companies that focus on life sciences development, specifically therapeutic, diagnostic testing and instrumentation. BioLogic will create 10 new jobs at its Covington headquarters.
 
FRANKFORT
The Kentucky Chamber of Commerce is expanding its 10,000-s.f. headquarters building in Frankfort to accommodate the organization’s growth. The expansion will add 5,000 to 7,000 s.f. and will include additional office space, a teleconferencing center, a boardroom and several small conference rooms.

FRANKLIN
Shepherdsville-based Integrity Manufacturing has broken ground on its automotive production plant in Franklin that will produce the ZAP electric vehicle and announced plans to also build a support facility next to the Integrity Automotive plant. The support facility will handle stamping and frame production for the ZAP car and will employ several hundred people. Both the automotive production plant and the support facility are expected to open around November 2009.

LEXINGTON
The Lexington-based law firm of Dinsmore & Shohl has been named as the No. 1 law firm in the nation for mining law by The Best Lawyers in America, a well-known referral guide to the legal profession.  Best Lawyers rankings are based on peer-review surveys of more than 16,000 attorneys who vote on the legal abilities of other lawyers in their specialties.

According to statistics released by the Lexington-Bluegrass Association of Realtors, median sales prices for existing homes in the third quarter of the year were up an average of 2.5 percent – compared to drops of 8 and 9.5 percent reported by the National Association of Realtors for July and August. Existing Bluegrass area sales rose 1.34 percent in September, compared to NAR reports of 11 to 15 percent declines in July and August.

Ceradyne Inc. has been awarded a $2.37 billion contract from the U.S. Army to produce personal ceramic armor plates. Ceradyne President David Reed said the five-year contract is the largest body armor contract ever received by the company, which operates manufacturing facilities in Lexington and Irvine, Calif.

The University of Kentucky College of Public Health has announced plans to establish a Center of Excellence for public health workforce research and policy. “We at the university are interested in fostering growth and interest in public health workforce research and policy to assure the public health system has a competent workforce to meet the needs of communities,” said Cynthia Lamberth, co-principal investigator. “The establishment of a Center of Excellence in Lexington will support a national effort to evaluate public health workforce issues.”

Lexington-based Bluegrass Energy Inc. has acquired proven reserves of approximately 500,000Bbls of oil and approximately 1 Bcf of natural gas in Eastern Kentucky for $759,000 plus 350,000 shares of restricted stock. “We believe there are some real values that can be secured at this time based on local and world economic events,” Bluegrass Energy President Leslie Schaefer said. “In the case of one of the properties, it is located on the eastern edge of the largest known producing oil field in the eastern United States, the Big Sinking oil field. The Big Sinking Field is classified as a ‘giant’ according to the United States Geological Society and to date has produced in excess of 120 million barrels of oil.”

LOUISVILLE
Brown-Forman Corp. has announced a stock split, to be effected as a dividend, on both Class A and Class B common stock, payable in shares of Class B common stock. For every four shares of either Class A or Class B common stock held, shareholders of record as of the close of business on Oct. 6 will receive one share of Class B common stock, with any fractional shares payable in cash. Louisville-based Brown-Forman is a producer and marketer of alcohol brands that include Jack Daniel’s, Southern Comfort, Finlandia Vodka and Korbel California Champagnes, among others.

LOUISVILLE
Raytheon Technical Services Company LLC (RTSC) has announced plans to open a Warfighter Support Center depot repair facility in Louisville to support the U.S. Army’s Warfighter Field Operations Customer Support (FOCUS) program. The 135,000-s.f. center will employ 75 people providing logistics, technical support and depot maintenance services. “The Warfighter Support Center will improve service to soldiers by increasing turnaround times for repairable items,” said Mike Edwards, an RTSC vice president and program manager of the Warrior Training Alliance, which facilitates execution of the Warfighter FOCUS contract. “The center’s overall goal is to get equipment back to warfighters faster so they can complete their valuable training operations.”

University of Louisville business students now have the opportunity study in China as the result of a new agreement between UofL and China’s Nankai University Business School and the Shanghai Institute of Foreign Trade. Bob Taylor, director of international programs for UofL’s business school, said the university expects to initiate undergraduate exchanges, undergraduate study tours, graduate student experiences and joint faculty research opportunities within the next year. In addition to China, the College of Business has exchange agreements with schools in the Netherlands, Germany, France, Moscow, Czech Republic, Taiwan and Hungary, and pending relationships with schools in New Zealand and Poland.

Sullivan University has officially opened its new College of Pharmacy in Louisville. The college’s inaugural class includes 74 Doctor of Pharmacy students, of which 39 are from Kentucky, eight from Indiana and 27 from 11 other states.

Almost Family Inc., a Louisville-based provider of home health nursing services, has been ranked No. 24 in Forbes’ 2008 listing of the 200 Best Small Companies in America, rising from its No. 77 ranking in 2007. To qualify for the 200 Best Small Companies list, companies had to have shown a consistent pattern of positive growth over the past 12 months and also over a five-year period. Forbes selected companies with revenues between $5 million and $750 million, net profit margins greater than 5 percent and share prices above $5 as of Sept. 29, 2008. Almost Family was founded in 1976 and now operates more than 90 branch locations in 11 states.

The North American International Livestock Exposition will return to the Kentucky Exposition Center in Louisville this month for its 35th consecutive year. The event will include exhibitors and entrants from 48 states and six continents and is expected to generate an economic impact of $11.6 million for the state.

LOUISVILLE
BAE Systems Land & Armaments has been awarded a $31.5 million contract by the U.S. Department of Defense to overhaul and upgrade four MK 45 gun mounts and produce three MK 45 upgrade kits. Approximately 75 percent of the work will be handled by BAE’s Louisville operations, with the remainder being performed by the company’s Minneapolis facility.

Financial services firm Hilliard Lyons has eliminated some 45 positions at its Louisville headquarters, citing the need to adjust costs to ensure the company remains competitive. A number of the affected employees have been reassigned to other areas – the company operates more than 70 offices in 12 states – but most have been laid off.  Hilliard Lyons employs approximately 1,000 people total, with some 500 located in Louisville.

Trilogy Health Services has entered into an agreement to acquire six senior living communities from Franciscan Sisters of Chicago Service Corp. The acquisition involves four facilities in Indiana, one in Illinois, and the Franciscan Health Care Center in Louisville. Louisville-based Trilogy offers a range of personalized senior living services, ranging from independent and assisted living to skilled nursing and rehabilitative services.

NORTHERN KENTUCKY
Four Northern Kentucky start-up companies have received $25,000 grants through the Northern Kentucky ezone, a division of the Northern Kentucky Tri-County Economic Development Corp. that provide support for young companies as well as established companies commercializing a new product, technology or process. The companies include: DiabetiTec, an emerging medical device company; Beneficiency One, a benefits software company; World e Business Solutions, a real estate software company; and Dito Solutions, a financial services software company.  Ezone launched a new round of funding in mid-October; ezone clients are eligible to apply for grants of $30,000 or other funding options ranging from $100,000 to $750,000 toward commercializing high-tech/high-growth companies and ideas.  

OWENSBORO
Kentucky Bioprocessing LLC (KBP) and Bayer Innovation GmbH, a subsidiary of German pharmaceutical giant Bayer AG, are collaborating to develop a facility at KBP’s Owensboro plant for the production service of biopharmaceuticals. Based on Bayer’s proprietary magnICON® technology, plant-made pharmaceutical proteins and other high-value products will be produced in tobacco plants on commercial scale. KBP is investing $2 to $3 million to expand the partnership with Bayer and will adapt its existing facility for the installation of an automated system to accommodate production.

PIKEVILLE
In an effort to manage rising costs, Pikeville College is restructuring its undergraduate program, cutting staff positions and limiting expenditures to only essential spending. The private liberal arts college has cut 25 of its 105 staff positions and plans to eliminate 15 of 105 faculty positions over the course of the coming 18 months. Terry Dotson, chairman of the board for Pikeville College, told The Appalachian News-Express that the combination of stagnant enrollment, a shaky national economy and increased energy, fuel and health care costs have taken a toll on the college’s finances.

SHELBYVILLE
Automotive parts supplier Martinrea International Inc. has laid off around 70 workers at its plant in Shelbyville. The plant is one of numerous companies and facilities in the commonwealth affected by the current slump plaguing the automotive industry.

SIMPSONVILLE
Leggett & Platt is laying off 86 workers at its plant in Simponsville, where the company produces mechanisms for reclining and swivel chairs. The job cuts are being attributed to a decreased demand for the company’s products. The cuts, which will take effect around mid-December, leave the company with approximately 160 workers.

SOMERSET
Construction is under way on Somerset Community College’s new $13.8 million allied health and technical education building. The new 53,720-s.f. facility is expected to open in the spring of 2010 and will provide space for the college’s practical nursing, registered nursing, medical assisting, respiratory care and pharmacy technology programs.

WASHINGTON COUNTY
Automotive parts manufacturer Toyotomi America is investing $1 million to expand its facility in Springfield and is also adding some $7 million in new equipment. The expansion will enable the company to consolidate its engineering and management staff, while also providing additional space for future staff expansion. The new transfer press will allow Toyotomi to produce some of its parts in half the time.

STATE
Kentucky has become the first state in the nation to enroll its state employees in Virgin HealthMiles, a health incentives program designed to lower long-term health care costs and increase employee productivity by motivating employees to get physically active and rewarding them for their efforts. The program will be offered to state employees beginning early next year. GLI, Louisville’s metro chamber of commerce, is also offering HealthMiles to GLI members enrolled in its HealthSolutions insurance program.

New Gold for Kentucky's Economy
Fort Knox area booms as Army brings in battalions of higher-paid personnel

A Pep Rally for Boldness
Kentucky must encourage change to compete in today's economic environment

Commentary on U.S. Economy
Commentary on U.S. Economy

E-mail Fatigued?
Efficiency techniques tame the inbox and make it an invaluable tool rather than a productivity killer

University Research
Fischer-Tropsch Is Turning Kentucky's Coal and Biomass into Ultra Clean Fuels Discovered by two German scientists in the 1920s, the Fischer-Tropsch (FT) process uses a catalyst (a reaction accelerator) to convert syngas to hydrocarbons.

One-On-One
Home Builders Association executive Bob Weiss talks abouthow the current economic crisis is affecting Kentucky construction

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Updates on business and economic news from across Kentucky compiled by the editors of the Lane Report.

December 2011: Western Kentucky University expects its recent acquisition of a large-chamber scanning electron microscope will bring more research dollars to campus.