Danville/Boyle CountyEconomic Development Partnership<br />Danville Rotary Club <br />State of the<br />Danville/Boyle Cou...
WHO ARE WE? <br />The 2010 EDP Board of Directors . . . <br />Chairman:  John Albright(Industrial Foundation)<br />Vice Ch...
WHERE DO WE STAND?<br />Boyle County Q4 2009 Employment Report:<br />Industrial:  (19 with 25+ employees)<br />Q4:  3270<b...
WHERE DO WE STAND?<br />Kentucky Office of Employment & Training:<br />December '09 (Q4)Employed: 11,388 Unemployed: 1,377...
WHERE ARE WE GOING?<br />Announced Closures:<br />FKI Logistex:  August ’10 – 245 jobs (consolidation)<br />Next steps:  E...
WHERE ARE WE GOING?<br />Pending New/Expansions 2009 - 2010:<br />Alan Clark Holdings:  10 jobs, $358,000 cap ex (Local)<b...
WHERE ARE WE GOING?<br />New Prospects 2009 - 2010:<br />Project Thrust:  Aerospace component manufacturer; 68 employees, ...
WHAT DO WE OFFER? <br />And introducing . . .<br />Boyle County & City of Danville’s <br />Job Development Incentive (JDI)...
State Of The Danville Boyle Economy
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State Of The Danville Boyle Economy

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Danville/Boyle County Economic Development Partnership President/CEO Jody Lassiter's update on local economic issues.

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State Of The Danville Boyle Economy

  1. 1. Danville/Boyle CountyEconomic Development Partnership<br />Danville Rotary Club <br />State of the<br />Danville/Boyle County<br />Economy<br />
  2. 2. WHO ARE WE? <br />The 2010 EDP Board of Directors . . . <br />Chairman: John Albright(Industrial Foundation)<br />Vice Chairman: Richard Trollinger, Director at Large (Centre College)<br />Secretary: Lisa Bottom(Main Street Perryville)<br />Treasurer: Mike Perros(Chamber of Commerce)<br />Jerry Boyd (Convention & Visitors Bureau)<br />Carol Senn(Heart of Danville Main Street)<br />Angie Lamere, Director at Large (Caterpillar, Inc.)<br />Judge/Executive Harold McKinney, Boyle County<br />Mayor Hugh Coomer, City of Danville<br />Mayor Jim Douglas, City of Junction City<br />Mayor Anne Sleet, City of Perryville<br />Jody Lassiter, President/CEO<br />
  3. 3. WHERE DO WE STAND?<br />Boyle County Q4 2009 Employment Report:<br />Industrial: (19 with 25+ employees)<br />Q4: 3270<br />Q3: 3323 (-53)<br />Q4 2008: 3711 (-441)<br />Non-Industrial: (10 with 100+ employees)<br />Q4: 4196<br />Q3: 4106 (+90)<br />Overall: +37 jobs in Q4 2009<br />Source: Notes, www.facebook.com/betterindanville <br />
  4. 4. WHERE DO WE STAND?<br />Kentucky Office of Employment & Training:<br />December '09 (Q4)Employed: 11,388 Unemployed: 1,377Unemployment Rate: 10.8%<br />September '09 (Q3)Employed: 11,453Unemployed: 1,438Unemployment Rate: 11.2%<br />ChangeEmployed: - 65Unemployed: - 61Unemployment Rate: - 0.4%<br />Annual<br />December '09 (Q4) Unemployment Rate: 10.8%December '08 (Q4) Unemployment Rate: 7.5%Change: +3.3%<br />Source: www.workforcekentucky.ky.gov; Notes, www.facebook.com/betterindanville<br />
  5. 5. WHERE ARE WE GOING?<br />Announced Closures:<br />FKI Logistex: August ’10 – 245 jobs (consolidation)<br />Next steps: Exploring options with corporate owner to preserve jobs with other business enterprises; 4 potential conveyor-related prospects identified<br />Red Wing: June ’10 – 140 jobs (consolidation)<br />Next steps: Working with new owner re: building/site use; 1 new prospect expressing interest <br />Red Flags:<br />Products impacted by new technology<br />New corporate ownership/restructuring<br />Loss of contracts due to economic downturn<br />Future of automotive/consumer good markets<br />
  6. 6. WHERE ARE WE GOING?<br />Pending New/Expansions 2009 - 2010:<br />Alan Clark Holdings: 10 jobs, $358,000 cap ex (Local)<br />American Greetings: <br />Phase 1: 39 jobs, $4.8 mil cap ex (KBI)<br />Proposed Phase 2: 35 jobs, $2.7 mil cap ex (KBI)<br />Greenleaf Plant Food: 10 jobs, $6 mil cap ex (KBI)<br />Caterpillar: 14 jobs, $2.8 mil cap ex (KRA)<br />Hobart: Recalling layoffs with possible new hires for new, added product lines <br />
  7. 7. WHERE ARE WE GOING?<br />New Prospects 2009 - 2010:<br />Project Thrust: Aerospace component manufacturer; 68 employees, $35.6 mil cap ex<br />Project Sunshine: Alternative energy start-up project in development; 12 jobs, $2.2 mil cap ex<br />Project Barrel: Cooperage for distilleries; 75 jobs, $35 mil cap ex <br />Project Call: Vacant retail spaces submitted for consideration for call center development<br />
  8. 8. WHAT DO WE OFFER? <br />And introducing . . .<br />Boyle County & City of Danville’s <br />Job Development Incentive (JDI)<br /><ul><li>A rebate of up to 1% of net profits tax for a period of not less than 5 and not more than 15 years, </li></ul> AND/OR<br /><ul><li>A rebate of up to 1% of payroll tax paid by new employees to the employer for a period of not less than 5 and not more than 15 years. </li></li></ul><li>Thank you for YOURpartnership!<br />Help us spread the word that . . .<br />
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