Welcome to the Official Website for
The Kentucky Lake Economic
This organization was founded on March 1, 2010.
The Aurora-Kenlake region is once again blazing trails with the launch of an Economic Revitalization Plan for southeastern Marshall County, Kentucky.
Everyone is working together to put into place a community driven regional Business and Neighborhood Economic Revitalization plan that will once again make this area a desirable area for people to live, do business and play. We can prove to the naysayers wrong in showing how strategic planning of the use of funds can have a positive effect on improving our local communities in southern Marshall County.
By working with the US Department of Housing & Urban Developments (HUD), Neighborhood Stabilization Program (NSP) and other national organizations and with the assistance of Federal Stimulus funds and other state and federal grants, this area can move forward in economic revitalization and development. This will assure the Aurora KenLake area of Marshall County much needed progress in economic development and revitalization for this region.
There are many revitalization strategies for downtowns, regions and areas to work towards in bringing the Aurora-Kenlake area into economic dominance once again. There is one major factor that many small towns and areas need to be focusing on these days. That is an effective economic development plan. There are those who may question whether economic development is really necessary for the Aurora-KenLake revitalization effort. The answer to that is a resounding Yes, an active economy is the source of community wealth and well-being.
Economic development and revitalization is necessary for a community to renew itself and grow. Many small towns and rural communities are lost and today are losing people, jobs, and quality of life due to economic instability. Unfortunately, small towns are not self-sustaining, and it is no easy task to maintain economic quality, good jobs, good public services, and a decent vibrant business and tax base.
Many of the world’s most successful companies have discovered that Kentucky, land of the thoroughbred, is a great place to build their business. Whether you’re a prospect, an existing Kentucky business or you’re looking to start a business in Kentucky, it helps to hear what other business leaders are saying about doing business in the Bluegrass. We’re happy to spread the word.
DID YOU KNOW...
Kentucky’s business tax climate ranking rose faster than any other state, up 14 spots to 20th in The Tax Foundation’s 2010 State Business Tax Climate Index.
Kentucky ranks 3rd among all states in light vehicle production. In fact, nearly 10 percent of all cars and trucks produced in the U.S. are made in Kentucky.
Kentucky is located within a 600-mile radius of 67 percent of the nation’s population and personal income.
Nearly 400 international companies have operations in the Bluegrass State, employing over 72,000 people across the state
TOP 10 REASONS FOR LOCATING
OR EXPANDING YOUR BUSINESS
WE'RE IN THE MIDDLE OF EVERYTHING
Kentucky anchors the Upper South. We’re at the southern end of the Midwest. We’re not far from the East Coast. The fact is, Kentucky’s borders are within 600 miles – about a day’s drive – of two-thirds of America’s population. That helps when you have to move product, meet with a customer, or close a sale.
WE'RE A LOGISTICAL DREAM
Kentucky business is served by not one but two major shipping hubs, giving companies a leg up on getting products, papers and packages into the global stream of commerce. UPS Worldport has just completed its second $1 billion expansion at the Louisville International Airport, pushing handling capacity at its worldwide air hub to an incredible 500,000 parcels per hour. DHL also moved its base to the Cincinnati/Northern Kentucky International Airport in Erlanger, Ky, in 2009.
Kentucky is well-served by interstates, state parkways, railroads, barge traffic on the Ohio and Mississippi rivers, and three major airports. Cincinnati/Northern Kentucky International Airport consistently ranks among the nation’s top five airports in independent passenger surveys.
ELECTRIFYING POWER RATES
The U.S. Energy Information Administration has consistently listed Kentucky as having one of the lowest costs in the nation for industrial electricity.
MAJOR TAX OVERHAUL
The Kentucky legislature recently passed a major tax-modernization initiative, eliminating the corporate license tax and lowering the corporate income tax rate to 6%. Even more, Kentucky’s business tax climate ranking rose faster than any other state, up 14 spots to 20th in The Tax Foundation’s 2010 State Business Tax Climate Index.
A TEAM YOU CAN COUNTY ON
The Kentucky Cabinet for Economic Development is overseen by an independent board made up of representatives from both the public and private sectors. As a result, politics are taken out of the mix, allowing you to build ongoing relationships with our experienced staff.
INCENTIVES THAT CAN SEAL THE DEAL
Kentucky provides financial support through an array of financial assistance and tax credit programs to encourage economic development, business expansion and job creation. In June 2009, Gov. Steve Beshear signed HB 3, Incentives for a New Kentucky (INK), into law, modernizing and streamlining Kentucky’s business incentives. The landmark legislation ensures that Kentucky’s economic development programs are on the cutting edge.
HIGH QUALITY OF LIFE
Life outside the office just couldn’t be better than it is in Kentucky. Our breathtaking countryside is home to the heart and soul of America’s thoroughbred industry. Our bluegrass music, crafts and fine arts are known around the world. Our state parks are among the finest in the nation. Our crime rate and our housing costs are both low.
AN EDUCATED WORKFORCE
Our nationally recognized workforce training programs give Kentucky employers a competitive edge. We work closely with our educational partners to train workers in industry-specific skill sets. Our ability to provide the flexibility and customization that companies require sets us apart.
OUR PEOPLE ARE SECOND TO NONE
The friendly, hard-working people of Kentucky possess an unbridled spirit that can literally boost your bottom line. The people here are genuine - a mix of southern charm with a Midwestern work ethic. On top of that, our workforce consistently outperforms the national average for productivity.