Economy
As Kentucky’s largest coal producer mines Bitcoin, its power discounts draw scrutiny
Union County in Western Kentucky has been the state’s top coal-producer for years, mining more than 10 million tons in 2022. Something else is being mined in Union County: Bitcoin. In both cases, the mining is done by Alliance Resource Partners (ARP) headed by Joseph Craft III, whose wife Kelly Craft, just lost an expensive […]
Funding for 33 rural broadband projects unveiled by USDA
WASHINGTON — The Biden administration on Monday announced it will send $714 million to help rural areas in 19 states connect to the internet. “The president honestly believes that in order to have the fullest opportunity available to bring manufacturing back, to bring precision agriculture, to reconnect young people to economic opportunity in rural places, […]
Property for proposed aluminum mill back with local authority, Beshear says
Property once eyed for an aluminum mill in northeastern Kentucky is again under local control, Gov. Andy Beshear said.? He announced Thursday that Unity Aluminum has transferred more than 240 acres to the Northeast Kentucky Regional Industrial Authority, an economic development group that manages the multi-use business park near I-64 between Grayson and Ashland.? During […]
Dollar stores, giant grocery chains push healthy food out of reach for many, activists say
“Efficiency” is a frequent justification for allowing corporations to consolidate vast swathes of the marketplace. But when it comes to food, huge grocery chains and ubiquitous dollar stores are limiting some rural and urban communities’ access to healthy food at the same time they bankrupt the farmers who produce it, members of a virtual panel […]
Remote work biting into Covington’s payroll tax revenue
The city of Covington has attributed its recent budget shortfalls to rising work-from-home policies.? Covington’s finance director Steve Webb disclosed during a presentation at a city commission meeting on May 23 that the city’s general fund’s expenditures had exceeded its revenue for the third quarter of the 2023 fiscal year, which ends on June 30. […]
Toyota’s first electric vehicle factory in the US will be in Kentucky at its Georgetown plant
In what Gov. Andy Beshear called an “enormous” economic development announcement for Kentucky, Toyota plans to establish its first electric car manufacturing facility in the United States at its plant in Scott County.? The Georgetown factory, which has manufactured millions of cars since 1988, plans to retain nearly 9,000 employees to manufacture electric SUVs as […]
States see record low unemployment across the US
Across much of the country, the jobs market is as strong as it’s ever been, and Black women, young people and people with disabilities are among the workers benefiting, recent U.S. Bureau of Labor Statistics data show. Twenty-nine states reported unemployment lower than the nation’s 3.4% rate in April, while 15 states saw record lows, […]
Toyota to buy power from planned Martin County solar installation on former surface coal mine
Japanese car manufacturer Toyota says it plans to purchase 100 megawatts of power from a 200-megawatt solar installation in Martin County being built on a former surface coal mine and brownfield site.?? Toyota in a Wednesday news release stated the multi-billion-dollar company would use the solar power to offset some of its carbon emissions. Toyota […]
Some movement reported in debt limit talks as Biden cuts short overseas trip
WASHINGTON — President Joe Biden and congressional leaders struggled to find common ground on the debt ceiling during a Tuesday meeting, though lawmakers said afterward there was some progress toward a deal. Biden and U.S. House Speaker Kevin McCarthy will become the two primary negotiators on a bipartisan debt limit bill that could include other […]
Another lawsuit challenges Kentucky’s ban on ‘skill-based’ gambling machines
A manufacturer and operators of so-called “skill-based” gaming machines have filed a lawsuit, the second of its kind, challenging the constitutionality of a new state ban on such machines that’s set to go into effect this summer.? Prominent Technologies, a Pennsylvania-based company that manufactures and operates “skill-based” machines often found in gas stations and convenience […]
Small Business Administration seeks applicants for free executive training program
Small-business owners have until May 17 to apply for free executive training offered by the U.S. Small Business Administration.? The six-month training includes coaching to “accelerate the growth of high-potential small businesses” as well as financial management, marketing and strategic planning, according to a news release.? Participants will develop a three-year strategic growth plan and […]
‘Neighbors, heroes and leaders’ step up after last summer’s record flooding
HAZARD — How does one of the nation’s poorest rural regions recover from the most disastrous flooding some of its communities have ever seen? “Neighbors, heroes and leaders.” That answer was the three-legged theme sounded repeatedly by Peter Hille, chair of the East Kentucky Leadership Foundation, at its annual conference in Hazard Thursday and Friday […]