Economy

The ten-county Caves, Lakes and Corvettes Region saw an increase of 3.7% in direct tourism expenditures in 2011 equaling nearly $340 million. The increase added an overall amount of nearly $534 million in total expenditures to the region's economy.

Thousands of Americans who have been receiving extended unemployment benefits will no longer receive that money, if they live in states that no longer qualify for the program. Under federal law, the rate of unemployment must be 10 percent higher than for the previous three years for extended benefits to remain in each state. States that no longer qualify, as of today, include California, Colorado, Connecticut, Florida, Illinois, North Carolina, Pennsylvania, and Texas.  Officials in California say that state alone will see more than 90, 000 people lose their extended unemployment benefits today.

Eighth-graders in Kentucky are scoring higher than their national counterparts in science in what's known as the "nation's report card." The Kentucky Department of Education reports that for 2011, the state's average score was 157, compared with the national average of 151. The grading scale goes from 0 to 300.

Kentucky is reporting a decline in general government revenue in April after several months of growth. State Budget Director Mary Lassiter said today the nearly 1% drop in revenue isn't a sign that the economy has taken a step backward.

Kentucky Governor Steve Beshear this morning announced that Vermont Thread Gage is investing  $1.7 million in a growth project that will add to its workforce in Simpson County, Kentucky. The 35,000 square foot expansion will lead to fifteen additional jobs at a facility that already employs about one hundred people.

Many people facing retirement are finding that its difficult to predict how much money they will need to cover rising costs for food and gasoline after they retire. The WKU Human Resources Department has scheduled a series of meetings next week to help employees plan ahead for the future.  We hear from  Kari Aikins of the WKU Human Resources Department..........

The Office of the Budget Director for the State of Kentucky says General Fund receipts were up significantly last month. State Budget Director Mary Lassiter says General Fund receipts grew 8.4 percent in March, compared to March of last year.

Taggart Solar, LLC plans to locate a new manufacturing facility in the Edmonson County Industrial Park in Edmonson County in a 10,000 square foot leased building. The company's $440,000 capital investment will create 30 new jobs. 

A travel and hospitality company is creating 125 jobs at its facility in Campbellsville. Serco, which is an international service company based in the United Kingdom, is expanding its reach in the hospitality and travel industry.

Figures compiled by the U-S Commerce Department indicate that per capita personal income in Kentucky increased more than four percent in the past year. 

Daviess County's Judge-Executive says he's pleased with federal lawmakers' responses so far to the idea of creating a new interstate highway across western Kentucky and southern Indiana. Al Mattingly and other political and business leaders from the region this week went to Washington DC to lobby lawmakers for funding for the proposed I-67, a four-lane interstate running from Washington, Indiana through Owensboro and continuing to Bowling Green, where it would connect with I-65.

Kentucky lawmakers are planning to help home and business owners in tornado-stricken areas. Earlier this month, tornadoes ripped through Northern and Eastern Kentucky, causing millions of dollars in damage. But lawmakers are working on legislation to give storm victims refunds on sales tax for building materials.

New guidelines issued by the U-S Department of Labor mean claimants will have to conduct documented work searches to continue receiving jobless benefits. Under terms of federal legislation enacted in February, claimants will also be required to meet face to face with state job service workers.

The Kentucky Education and Workforce Development Cabinet  says jobless rates declined in 114 of the state’s counties from January of last year to January of 2012. State officials say Woodford County had the lowest unemployment rate in the state, at 6.9 percent. Webster, Fayette, Union, Oldham, and Henderson Counties are among those listed with relatively low rates, ranging from 7.2 to 7.9 percent.

A compromise to help employers avoid high federal unemployment insurance taxes has easily cleared a House committee. The proposal would allow Kentucky to borrow money from a bank or other organization to repay federal loans. Kentucky borrowed nearly one billion dollars from the federal government to pay for unemployment insurance during the recession.

The Office of State Budget Director Mary Lassiter says General Fund Receipts in the bluegrass state increased 3.8 percent in February, compared to February of 2011. Total revenues topped 574 million dollars, compared to just under 553 million dollars for the same month last year.

Owensboro leaders announced Friday a project that will invest 44 million dollars in the city's downtown area. A key portion of that investment will be a new convention class Holiday Inn hotel, to be located on the west side of the newly planned convention center. In addition,  Boardwalk Pipeline Partners LP has come to a preliminary agreement with the Riverfront Jam, LLC developers to relocate the Owensboro office to a downtown location.