The state Public Service Commission on Friday approved a adjustment that means the average customer will see an increase of $7 a month. Louisville Gas & Electric bills will go up by the same amount.

In January, the companies asked the PSC for permission to raise rates by $11.85 for the average customer.

The adjustment approved Friday was agreed to by the two utilities and most of the parties to the rate case. The state attorney general’s office, which advocates on behalf of residential customers, did not agree.

The PSC said it accepted the partial settlement because it will “result in a lower rate increase than justified by our traditional rate-making case.”
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Kentucky Utilities’ rates increasing $7 a month for average customer is a post from: Kentucky Registrar

The company, nGimat, plans to hire 18 people during the next three years at an average salary of $58,500. It also expects to hire an additional 50 full-time employees in production and administrative positions.

Lexington was chosen, officials say, because of the planned construction here of the U.S. Department of Energy’s National Battery Manufacturing Research and Development Center.

“Federal research centers are known for their ability to help attract high-tech companies that want to work with state-of-the-art scientific facilities,” Gov. Steve Beshear said in a statement.

Founded in 1994, nGimat develops coatings and nanopowders for a wide variety of products such as cell phones and fuel cells.
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Nanotechnology firm locating in Lexington is a post from: Kentucky Registrar

In general, when a company is approved for tax incentives, it can keep that amount of money, which it would otherwise pay in taxes, assuming it fulfills the terms of the deal.

Here are selected board approvals:

Corning in Harrodsburg, $4.5 million for its plans to expand production of a cover glass used in electronic devices. The company estimates the expansion will cost $186.57 million. It is expected to add 80 jobs that pay an average hourly wage of $25. Under a different tax incentive program, the company also was approved for up to $1 million.

CSC in Somerset, $1 million for its plans to expand its call center. The company estimates the expansion will cost $2.11 million. It is expected to add 200 jobs that pay an average hourly wage of $15.
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Tax incentives awarded to expanding companies is a post from: Kentucky Registrar

“One of our goals is to establish ourselves as a statewide firm, and Cotton + Allen has a long storied history in Louisville,” said Richard O. Dorton, CEO of Dean Dorton Ford, which was founded in 1979. “It really just helps us to further establish our Louisville presence and helps us quicken our move into Western Kentucky and the balance of the state.”

No money will change hands as part of the combination, he said.

The new firm, Dean Dorton Allen Ford will have 160 employees. Of those, 100 will work in Lexington and 60 in Louisville, where Cotton + Allen has its 45 employees and Dean Dorton Ford has 15.

Dorton said the combination also made sense because the two firms don’t have significant overlaps in specializations.
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Ky. accounting firms combining is a post from: Kentucky Registrar

The Kentucky Economic Development Finance Authority in Frankfort gave the nod to allow the state to work with city government employees to finalize what’s called tax-increment financing.

The idea behind TIF projects is for governments to invest in improving infrastructure and then pay for those improvements using new tax revenue, which developments are expected to generate when the projects are completed and areas are revitalized.

The proposed $91 million development on Angliana would include an upscale movie theater complex, bowling alley, restaurants, shops and apartments.

Developer George Krikorian, who owns a farm in Woodford County where he breeds and trains racehorses, had requested $36 million in tax-increment financing for the project. Krikorian has previously built several theater complexes in Southern California.
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State approves financing for Angliana project is a post from: Kentucky Registrar

In general, when a company is approved for tax incentives, it can keep that amount of money, which it would otherwise pay in taxes, assuming it fulfills the terms of the deal.

Here are selected board actions:

CSC in Somerset was approved for $1 million for its plans to expand its call center. The company estimates the expansion will cost $2.11 million. It is expected to add 200 jobs that pay an average hourly wage of $15.

American Howa Kentucky in Bowling Green was approved for $900,000 for its plans to expand its facility that manufactures headliners and dash insulaters for automakers. The company estimates the expansion will cost $11.48 million. It is expected to add 86 jobs that pay an average hourly wage of $18.09. Under a different tax incentive program, the company was also approved for up to $100,000.
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Tax incentives awarded to expanding companies is a post from: Kentucky Registrar

This fall’s sale will feature a different format. Instead of starting on a Monday as has been its tradition, the September exercise will now hold its two select sessions featuring the top-end stock on Sunday and Monday with both sessions conducted at night. In doing so, Keeneland hopes it can recapture some of the energy and glitz that was the norm with its now defunct July yearling sale, which was as much a social event as it was a major auction.
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4,857 horses cataloged for Yearling Sale is a post from: Kentucky Registrar

The move creates the seventh Kentucky regional office for Arison, which is owned by Assurance Investment Partners. The company also has an office in southern Indiana.
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Louisville insurer buys London firm is a post from: Kentucky Registrar

IMG Worldwide announced it is purchasing ISP Sports, a firm with more than 275 employees that also manages the media rights of university athletics programs. Among its clients are Duke, Georgia Tech, Wake Forest, Alabama and Auburn.

IMG Worldwide spokesman Jim Gallagher said it’s not yet known how the acquisition will affect employees in Lexington. He said the division, the main offices of which are in Atlanta and Lexington, previously didn’t have a headquarters per se.

The combined businesses will be led by ISP Sports founder and CEO Ben C. Sutton in Winston-Salem. The division’s previous leader, Atlanta-based Pat Battle, will become chairman of the division. Lexington leader Tom Stultz will remain in a key leadership role, too, Gallagher said.

After the acquisition, IMG College will have more than 700 employees in 75 offices across the country and annual sales of more than $400 million.
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IMG buying North Carolina firm is a post from: Kentucky Registrar

The vacancy will likely be filled for the time being by what are called temporary tenants, stores that move between vacant spaces, said Melissa Blackburn of Fayette Mall marketing. The mall has no other vacancies, said General Manager Myron Worley.
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The Body Shop closes at Fayette Mall is a post from: Kentucky Registrar