Each quarter we like to share a brief snapshot highlighting the organization’s activity. Highlights in this newsletter include the announcement of Big Rivers Electric Corporation’s relocation of their headquarters to Owensboro, GOEDC’s participation in the KAED fall forum, a virtual site visit of our community with site selectors, and much more.  It was a successful 4th quarter, and we are looking forward to the opportunities ahead in 2021 and beyond. 

View the full newsletter below!

Dahl & Groezinger is a 5th generation scrap iron & metal recycling business that purchases steel, aluminum, copper, brass, and more from both individuals and businesses. They supply buyers across the nation and ship internationally to buyers throughout the world.

Founded in 1885, Dahl and Groezinger has the distinction of being Kentucky’s oldest family-owned scrap iron and metal processor. The family takes personal pride in maintaining a quality facility and providing ultimate service to their customers.

This video proves that the organization strives to make the recycling process as simple and as profitable as possible for their customers. Listen to hear how one of the many reasons they are able to do so, is because of their location in Owensboro, Kentucky.

A state law that took effect last year could begin benefiting local distilleries and breweries, as the legislation allows alcohol producers to ship their products directly to consumers. Officials with Green River Distilling Company have already said they plan to take advantage of the new law in order to increase their sales.

Jacob Call, master distiller at Green River, said the distillery has already received its permit to ship alcohol and they hope to be able to start shipping their products within the next month.

Bourbon produced by Green River can now be shipped across the entire state of Kentucky, as well as to 10 other states with reciprocal shipping laws — Alaska, Arizona, Connecticut, Hawaii, Nebraska, Nevada, New Hampshire, North Dakota, Rhode Island and Washington, D.C.

According to the law, known as HB 415, each producer is allowed to ship 10 liters of distilled spirits, per consumer, per month; 10 cases of wine, per consumer, per month; 10 cases of beer, per consumer, per month.

Call said HB 415 would increase business and revenue for distillers that are able to take advantage of the new alcohol shipping law. The distillery will likely benefit even more once Green River Distilling Co. launches its first batch of newly rebranded products this summer.

All shipping requests will be handled through the distiller’s gift shop. Click here to visit their website and learn more about the Green River Distilling Company and their products.

The Canteen Service Company of Owensboro has been acquired by Five Star Food Service.

The highly regarded Owensboro-based franchise group comprises four companies — Canteen Service Company of Owensboro, Canteen Service Company of Kentuckiana, Derringer Food Group, and John Conti Coffee Company — operating collectively as Canteen’s third largest franchise.

The Canteen/Derringer/John Conti sale comes nearly five months after the passing of former owner and senior partner Jack Wells, under whose leadership the company saw exponential growth over the last decade.

The acquisition expands the company’s reach into western Ohio, southern Indiana, and a majority of Kentucky with service in Cincinnati, Dayton, Columbus, Louisville, Lexington, and Owensboro, among other cities. Furthermore, the breadth of business that comes to Five Star pushes the company to nearly 2,300 micro markets, more than 30,000 vending machines, 15,000 coffee and water service locations, and over 60 cafeterias.

Wells purchased the Canteen franchise in 2010, adding the John Conti company in 2014. By early 2020, the number of team members had swelled to 770 (a 230% increase), and revenues increased by more than 370%.

The geographic service area also more than doubled in that time span — extending from the Kentucky/Tennessee border to 50 miles south of Lake Erie in Ohio, and from the West Virginia state line to the Land Between the Lakes region in Western Kentucky.

“Even with the meteoric growth as part of Jack’s vision for our organization, the remaining ownership/partner team realizes, however, there is still tremendous growth opportunity,” said Keith Sharber, Executive Vice President and Owner/Operator of the Owensboro-based group. “The Jack Wells partnership group firmly believes that a vibrant and successful organization must grow. It is with this thought first and foremost in our minds that we have determined that Five Star Food Service is best positioned to now come alongside our organization, take the reins with our incredible team of food service professionals and phenomenal customer base, and continue the onward and upward trajectory.”

Five Star is an industry leader in micro markets, full-line vending, pantry, coffee and water services, full-service dining, catering, and sustainable products serving eight states including Tennessee, Georgia, Kentucky, Alabama, Mississippi, Ohio, Indiana, and North Carolina. 

Founded in 1993, Five Star has grown to one of the largest privately held convenience services operators in the United States and is the largest franchise of Canteen, a Compass Group company.

Owensboro is thrilled to witness the two like-minded companies come together and welcome Five Star Food Service to the community!  

The Kentucky Association for Economic Development (KAED) is an organization of stakeholders dedicated to strengthening prosperity in the Commonwealth. The Association’s membership is comprised of over 700 members consisting of economic development organizations, Chambers of Commerce, state Cabinets and Agencies, local governments, utilities, universities, quasi-governmental organizations, and professional service firms. With a mission to enhance professional capacity to accelerate economic development, the KAED service portfolio includes education, advocacy, domestic and international business development marketing, consultative services, networking forums, and more. KAED has recently elected four new Directors to the Board.

New Directors, elected by the membership to the 13-member full Board include the Greater Owensboro Economic Development Corporation’s very own President/CEO, Mrs. Brittaney Johnson. Brittaney feels honored to be appointed to the KAED Board of Directors and is looking forward to beginning her service in January 2021. Other new elects to the Board include Kimberly Rossetti, VP of Economic Development at Northern Kentucky Tri-ED; Amanda Davenport, Executive Director of Lake Barkley Partnership; and Lucas Witt, Managing Director of Economic Development at Fortune Solutions and Licensed Realtor at Fortune Realty.

The Greater Owensboro Economic Development Corporation values our partnership with KAED. As a member, it is a great way to network with economic developers from across the state, create relationships that build resources, broaden our expertise in the field, and serve as an advocate for the growth of our community and the Commonwealth.

Today, the City of Owensboro, Daviess County Fiscal Court and Greater Owensboro Economic Development Corporation, announced, Big Rivers Electric Corporation is relocating their headquarters to Owensboro, KY. Big Rivers headquarters operation employs 120 employees with an annual payroll of $14 Million.

“We are very excited about the opportunities ahead for Big Rivers in the Owensboro community,” said Bob Berry, President and CEO of Big Rivers Electric. The Big Rivers headquarters will create an annual economic impact of over $100 Million for the Greater Owensboro region. We look forward to Big Rivers future success for years to come. Their investment, ability to create quality, good-paying jobs for Daviess County residents and those throughout the Greater Owensboro region will be an economic boost to our community. The new headquarters location will be constructed at 700 W 2nd Street in downtown Owensboro, Kentucky. Company leadership is hopeful the project will be complete within 18-24 months. We are thrilled to welcome Big Rivers to the Greater Owensboro community and look forward to continuing a strong partnership with this great corporate citizen. 

The holiday season is in full swing which means shopping – lots and lots of shopping. While online shopping can be convenient, especially during these challenging times, we must remember the benefits of shopping local and contributing to our community is much more rewarding. Here are a few reasons why.

Shopping local helps grow the community’s economy. Instead of taking your money to a chain store, think about how beneficial it would be to invest in your local economy and help support a small business owner’s family, especially around the holidays.

Shopping local boosts job growth. When you shop local, you create job stability for current working individuals in the community, as well as continuously open the door for more local hiring opportunities. Having a reliable job that is close to home is definitely something to celebrate and be thankful for this holiday season.

Shopping local gives local artists and vendors exposure. Our community is full of incredibly talented artists. Shopping with these individuals gives them the exposure and funding they need to continuously grow their business. Another added bonus of shopping with local craftspeople is the ability to give custom-made, personalized items during the holidays that provide that extra special feeling of a unique gift that can’t be found anywhere else!

Put your money where your heart is. We live in a community full of talented entrepreneurs that need our support, not only during the holiday season or a global pandemic, but always. Help grow the community by shopping local and give hard-working business owners in Owensboro the opportunity to thrive. Many local establishments offer options such as delivery, curbside pick-up, and online ordering and shipping. Therefore, even during these strict protocols with COVID-19, we are still able to keep our money close to home.

Last week, GOEDC team members Sidney Riney and Elizabeth Griffith had the pleasure of attending the Annual Kentucky Association for Economic Development (KAED) fall forum in Ashland, Kentucky. As the world mitigates a global pandemic, Kentucky economic developers have had to reach deep within our collective resolve to emerge with strategies to address COVID-19 and to protect our existing industries. We have also been forced to innovate to assure that our Commonwealth remains competitively positioned to seize upon new opportunities post-COVID-19.

Each year we meet with partners at the Kentucky Economic Forum with those responsible for job creation, for retaining existing industry, for inspiring innovation, and for preparing Kentucky’s workforce for success. Together, our group strives to assure that we thrive in the Commonwealth. It is beneficial to discover key Kentucky leaders plans for economic growth and the KAED resources available to accelerate economic development in the Commonwealth. We are excited to seize new opportunities and are looking forward to Kentucky’s bright future. 

The Owensboro metropolitan area, which includes Hancock and McLean counties, has ranked third for the Ohio River Corridor Ranking of 2020 in the Site Selection magazine. The rankings for this international business publication are based on per-capita corporate investment and the most projects in the metro area.

The Greater Owensboro Economic Development Corporation reported seven projects in Owensboro this year, creating 238 jobs and an investment of $154 million. The list included Envision Modular, $25.1 million and 85 jobs in Hancock County; Kimberly Clark, $19 million; MidSouth Rentals LLC, $23,500 and five jobs; Southern Star, $3.3 million and 13 jobs; Swedish Match, $100 million and 120 jobs and more.

With a diverse industry base, strength of the local economy and a dedicated workforce, Owensboro/Daviess County continues to thrive. We are proud to work alongside strong industry, successful educational institutions and are fortunate to have great community partnerships.

Owensboro has ranked in the top five over the past five years. There are multiple great assets in this community that allow us the opportunity to continue to attract new investment and foster existing business growth.

Kentucky Small Businesses have the opportunity to claim a tax credit of up to $25,000, but time is running out to include the credit on 2020 tax returns.

Through the Kentucky Small Business Tax Credit (KSBTC) program, small businesses need to apply in early November to secure their best chance of approval in time for this year’s tax filings. Tax credits are available to most companies that added at least one new full-time employee and invested $5,000 or more in qualifying equipment or technology within the past 24 months.

“Small businesses are an essential driver of our state’s economy, and we want every eligible company to have the best chances for growth and success,” said Ellie Puckett, deputy executive director of KY Innovation within the Kentucky Cabinet for Economic Development. “This program has long helped make that possible by supporting companies that add jobs and invest in their futures. During a time when many businesses need assistance, it’s even more important they participate, if they qualify. Kentucky is home to an incredible, diverse network of small businesses and we hope to see continued expansion in the years ahead.”

Qualifying small businesses may be eligible to receive a state income tax credit ranging from $3,500 to $25,000 per year. The tax credit amount depends on the number of jobs created and the amount invested in new equipment. Most for-profit businesses of 50 or fewer full-time employees qualify, including construction, manufacturing, retail, service and wholesale companies.

In 2019, the program incentivized the creation of 487 private-sector jobs and over $4.1 million in investments by 151 small businesses. On average, each participating company hired three people and received more than $10,000 in tax savings. Since inception, the program has assisted in creating over 2,800 jobs and $27 million in new investments.

KSBTC is a program of the Cabinet’s KY Innovation office, which encourages growth among Kentucky’s startups and small businesses. Other resources through KY Innovation include programs providing access to credit, mentoring and advocacy. Entrepreneurs and startups also can connect with multiple resources at Regional Innovation for Startups and Entrepreneurs (RISE) offices statewide.

To learn more about the Kentucky Small Business Tax Credit program or to apply, visit www.KentuckyTaxCredit.org or contact the Kentucky Cabinet for Economic Development at 800-626-2930.

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The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.CED.ky.gov. Follow the Cabinet at facebook.com/CEDkygov, on Twitter @CEDky.gov and LinkedIn.