Owensboro one of 60 US metros to post two months of positive job growth

Owensboro is one of just 37 southern metropolitan regions and 65 US metros to post two or more months of job growth in the first part of 2010, according to a study released by Garner Economics.

The Owensboro MSA had year-over-year employment growth of 0.2 percent in April and 1.6 percent in May.

Elizabethtown and Lexington were the only other Kentucky metros to experience two or more months of employment gains. Only one of Owensboro's peer regions, Elmira, NY, have experienced job growth thus far in 2010. The report uses employment information from the Bureau of Labor Statistics from January through May 2010 for all 372 US metropolitan regions.

Garner Economics is an Atlanta-based economic development analytics research agency. The full report is available at the following link.
http://www.garnereconomics.com/PDF/US%20Metro%20Job%20Growth%20Report%200710.pdf



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Location:U.S. 431,Owensboro,United States

EDC Economic Development Priority Survey

As part of the EDC Strategic Planning process, the Greater Owensboro Economic Development Corporation are seeking public input regarding regional economic development priorities. Please take a few minutes to complete the survey of EDC priorities at the link found below.


This is a direct link to the survey: http://www.kwiksurveys.com/online-survey.php?surveyID=KMIOFF_d0781698

The survey can also be completed on the EDC Facebook page at http://www.facebook.com/pages/Greater-Owensboro-Economic-Development-Corp/

EDC Holding Public Input Meeting July 26

The Greater Owensboro Economic Development Corporation is holding a second meeting to garner public input for its strategic plan and economic development strategy on July 26 at 6 pm at the Owensboro Police Department Community Room.

The meeting will be held in conjunction with the Region of Opportunity Team (ROOT) formed after the We the People town meeting event in November 2007. ROOT has been meeting since that event supporting projects and community discussion on economic development.

The meeting will follow a format similar to the first EDC public input meeting in June. An added bonus to this meeting will be an optional walking tour of the Carnegie Village area and a tour of the Centre for Business and Research, the 40,000 square foot business accelerator located on Allen Street-- one block from the OPD.

The EDC presentation and public input session will begin at 6 pm, the walking tour is expected to begin around 7:30 pm. The public is invited.


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Emerging Ventures, SCORE and GRADD to Host Social Networking Seminar

The eMerging Ventures Center for Innovation, the Daviess County chapter of SCORE and the Green River Area Development District are hosting a free two hour seminar to help you best utilize social networking to build your business. In the first hour you will learn the basics of using Facebook, Twitter, and other social networking tools that can help you communicate with your customers/clients and grow your business. The second hour will be hosted by Agent511's Ankur Gopal who will provide tips and advanced techniques that will get your business noticed. Participants are asked to bring their laptop computers. Our goal will be for you to create and have in place a ready to use social networking strategy for your business before you leave.

The seminar will take place on July 27th at 5:15pm at GRADD's offices in Owensboro on Highway 60 West. Participants are encouraged to pre-register by calling GRADD at 270-926-4433 or by going to the GRADD web site, www.gradd.org.

Owensboro Ranked Among Top 100 Places to Live

Owensboro has been ranked in the top 100 on Money Magazine’s new “America’s Best Places to Live” report.

The report ranked “small” cities — those with populations between 50,000 and 300,000 — by criteria including such as job prospects, schools, low crime rates and things to do.

Owensboro was ranked 93rd. Money Magazine noted the city’s claim to being the “Bar-B-Q Capital of the World” and its free “Friday after 5” weekly concerts on its downtown riverfront each summer.

Owensboro students’ math and reading test scores are above the state average, the personal crime rate amounts to only two per 1,000 residents and it boasts average commute times of less than 13 minutes.

Owensboro was the only city in Kentucky to make the list.

Eden Prairie, Minn., near the twin cities of Minneapolis-St. Paul, ranked No. 1 thanks to a low unemployment rate, numerous lakes, 125 miles of recreational trails and strong municipal financial condition.

Rounding out the top five were Columbia/Ellicott City, Md.; Newton, Mass.; Bellevue, Wash.; and McKinney, Texas.

The rankings are available in the August issue of Money and at money.cnn.com.

US Bank to Add 500 Jobs at Owensboro Mortgage Serving Center

OWENSBORO, Ky. (July 1, 2010) Demonstrating the state's commitment to support its existing industries, Gov. Steve Beshear today visited Owensboro to announce a major expansion at US Bank that will create 500 new jobs in Owensboro.

The U.S. Bank National Association's Home Mortgage's Servicing Center in Owensboro supports U.S. Bank's national portfolio, will invest more than $14.1 million as a result of the expansion and add a location in the Mid America Airpark in Owensboro.

"Today's announcement that U.S. Bank will create 500 new jobs is fantastic economic development news for Owensboro and Kentucky," said Gov. Beshear. "I am pleased that the Commonwealth could once again partner with our existing industries to create employment opportunities and secure additional capital investments in Kentucky facilities."

A subsidiary of US Bancorp, a division of U.S. Bank National Association, U.S. Bank Home Mortgage is ranked sixth among originators and servicers nationally. US Bank originates loans nationwide through its network of more than 2,700 branch banks in 24 states. The Owensboro Mortgage Servicing Center supports U.S. Bank's the bank's national portfolio of nearly $1.4 million loans totaling $193 198 billion. An increase in demand for U.S. Bank mortgage products and services has spurred the expansion. The company plans to lease an 81,000 square-foot facility in the Mid-America Air Park to house the new employees. Owensboro's existing facility facilities currently employs just over 1,100 people.

"We continue to add quality loans to our solid mortgage portfolio," added Dan Arrigoni, President of U.S. Bank Home Mortgage. "We're continuing to invest in our infrastructure so that we can keep providing top-notch service for our existing customers while building for our future mortgage growth." Bob Smiley, U.S. Bank executive vice president and loan servicing manager at U.S. Bank Home Mortgage in Owensboro said the portfolio has continued to grow at a rapid pace since reaching a milestone in 2007 by surpassing $100 billion in servicing volume. Today, only 36 months later, we have nearly doubled that volume to $198 billion.

The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved U.S Bank National Association for tax incentives up to $4,370,000 through the Kentucky Business Investment program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments. Additionally, KEDFA approved the company for tax benefits up to $130,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures and equipment used in research and development. The City of Owensboro has pledged to partner with US Bank with a local incentive valued at $1.7 million.

"US Bank is a corporate citizen who we are extremely proud to partner with," added Owensboro Mayor Ron Payne. "The city sees this as a project with great benefits today and significant potential for the future. Owensboro is on the move thanks to the efforts of US Bank and many others. We are growing stronger together."



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Swedish Match to Invest $3.7 Million in Owensboro Plant to Retain 300 Jobs

OWENSBORO, Ky. (July 1, 2010) Demonstrating the state's commitment to support its existing industries, Gov. Steve Beshear today visited Owensboro to announce an investment by Pinkerton Tobacco that will reinvest in the Owensboro plant and preserve 296 jobs in the community.

Pinkerton Tobacco, a subsidiary of Swedish Match, North America, plans a significant investment in its Owensboro plant that will allow the company to upgrade its facility and retain nearly 300 employees.

"Today's announcement that Pinkerton Tobacco will reinvest in its plant, retaining another 296 jobs, is fantastic economic development news for Owensboro and Kentucky," said Gov. Beshear. "I am pleased that the Commonwealth could once again partner with our existing industries to create employment opportunities and secure additional capital investments in Kentucky facilities."

Pinkerton Tobacco, which was established in Owensboro in 1973, produces smokeless tobacco products under the brand name of Red Man, Timber Wolf, Longhorn and Renegades at its 450,000 square-foot Owensboro plant. The company will invest $3.7 million in equipment upgrades that will allow for a continued production level, retention of the current market and the ability to maintain an existing workforce of 296 people. The reinvestment project will also encourage projections of up to 10 percent annual growth.

The Kentucky Economic Development Finance Authority preliminarily approved Pinkerton Tobacco for tax incentives up to $1.85 million through the Kentucky Reinvestment Act, a program that was expanded in the Governor's Incentives for a New Kentucky bill last summer to assist companies that need to make significant capital investment in Kentucky facilities in order to remain competitive.

“Swedish Match/ Pinkerton has been a longstanding corporate partner in the Owensboro region," said Daviess County Judge Executive Reid Haire. "Their growth and long-term commitment speaks volumes about the good things happening in Owensboro and Daviess County.”


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