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Ready for Jobs? Report Shows How Kentucky Stacks up As a Place to Do Business in SPORTS, in BUSINESS and in Education, Rankings Matter

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Ready for Jobs? Report Shows How Kentucky Stacks up As a Place to Do Business in SPORTS, in BUSINESS and in Education, Rankings Matter AUGUST 2012 Ready for Jobs? Report shows how Kentucky stacks up as a place to do business IN SPORTS, IN BUSINESS and in education, rankings matter. In education, top-ranked universities attract the best students, and top-performing graduates get the best jobs and enjoy higher earnings. Highly ranked businesses attract more cus- tomers and investors, have higher earnings and create jobs through expansion. Top-ranked ath- letic teams attract the best players and win more championships. In short, excellence is rewarded. This is particularly true in the competition for jobs and economic growth. States with a good business climate have greater opportuni- ties to attract investment, create jobs and build more robust economies than states that rank Kentucky Chamber Kentucky poorly. news A good business climate that spurs econom- ic growth also benefits the state as a whole by generating more revenue from the taxes paid by growing businesses and their employees. Kentucky Chamber President and CEO Dave Adkisson illustrated Kentucky’s competitive strengths and weaknesses in the context of an national economic recovery during the unveiling of the “Ready for Jobs?” To determine how the Commonwealth report at the Business Summit on July 17. compares with other states as a place to do busi- ness, the Kentucky Chamber has prepared a new report, “Ready for Jobs?,” which was Praise for “Ready for Jobs?” released at the Chamber’s Business Summit on July 17. The report reviews the key elements the The Chamber did a great service to Kentucky with Chamber believes make up the Commonwealth’s its 2009 “Leaky Bucket” report ... The latest study business climate: will be equally valuable in focusing attention on Kentucky’s strengths and weaknesses and what — Economic Climate: An overview of needs to be done to protect some of its most Kentucky’s economy and the cost of important industries. doing business. — Business First of Louisville — Regulatory and Tax Environment: Editorial, July 20, 2012 Rankings of Kentucky tax and regulatory policies that have an impact on business. — Employment Climate: How Kentucky compares with other states on workers’ compensation, unemployment insurance, — Government Policy: State government The data and rankings used in the report right-to-work legislation and other indi- spending trends and debt levels. come primarily from national organizations and cators. government agencies. The results are not always — Education and Worker Training: The Chamber wanted to provide a look at flattering. While Kentucky compares well in Kentucky’s performance on such key the Commonwealth from the point of view of some areas, in many others we are falling behind rankings as college and career prepara- current and potential employers, using indicators as reflected in the following chart that summarizes tion, overall education attainment and to show how well Kentucky is doing in providing the key findings. others. a business climate that encourages job growth The “Ready for Jobs?” report shows — Quality of Life: How health and well- through business creation, expansion and invest- Kentucky have serious work to do to make being in Kentucky ranks with other ment. The report also includes recommendations Kentucky a more competitive place to do busi- states. for improving Kentucky’s performance and mov- ness and achieve economic prosperity. — Infrastructure: The relative condition of ing the state – and its economy – forward. The the state’s roads and bridges. full report can be found at kychamber.com/jobs. SEE JOBS, PAGE 3 ANNUAL MEETING Deaton outlines Chamber’s successes in 2012 DURING THE KENTUCKY Chamber’s seventh “To combat the rising cost of health care – Business Summit and Annual Meeting, presented particularly in workers’ compensation – the by Bingham Greenebaum Doll LLP, 2011-12 Board Chamber was a leader in pushing for a comprehen- Chairman Luther Deaton outlined the Chamber’s sive bill to help curb prescription drug abuse,” he accomplishments during his term, which will con- said. clude Oct. 1. Deaton, who is the chairman, Deaton also pointed out the efforts of the president and CEO of Central Bank in Lexington, Kentucky Chamber Foundation, which is now pointed out that during the recent legislative ses- active with two key projects that support the sion, the Chamber’s advocacy efforts saved the Chamber’s number one priority: Education. Kentucky business community an estimated $704.1 Thanks to generous donations from business- million per year. es throughout the state, 55 school principals are “That’s an average of $19,790 per year for a attending the foundation’s Leadership Institute for business with 50 employees, and $395 per employ- School Principals this year. ee,” said Deaton. “The primary cost-savings came In its second year, the program offers public through spending reductions in the state budget and and private school principals an opportunity to averted a huge unemployment insurance disaster.” receive powerful leadership training from the The Chamber’s efforts during the session, as nationally recognized Center for Creative Deaton pointed out, resulted in hundreds of mil- Leadership, a top-ranked global provider of lions of dollars in savings by stopping an unem- executive education. ployment insurance tax penalty of $420 per Says Deaton: “All of these efforts are paying employee. Chamber efforts helped provide tax off for the Chamber, and members are playing a Luther Deaton is chairman, president and CEO of Central Bank. His term as Chamber chairman will relief by spreading out interest payments over time key role in directing these efforts through their end Oct. 1. and creates opportunities for future tax relief. participation and support.” Welcome new members! Please help us thank these companies for investing in the Chamber’s mission by giving Gov. Collins spreading them your business. Chamber’s message on trade TRUSTEES FORMER JBS Swift & Company KENTUCKY Tiffany & Co. Gov. Martha WellCare Health Plans Layne Collins, EQUITY PARTNERS now the Bank Of Kentucky Kentucky Kentucky Trailer Chamber’s ambassador-at- Group one of the Leadership Institute for School Principals class of 2013 participated in GENERAL MEMBERS its first training session at the Center for Creative Leadership in June. large for inter- AbellEyes Laser Vision Correction Center national trade, Advance Feeding System Chamber sends 55 Kentucky principals recently spoke Audubon Area Community Services at the Bird Consulting Group for executive leadership training Henderson- Photo by Mike Lawrence, The Gleaner Capitol Auto Park Henderson County City of Central City THE KENTUCKY CHAMBER Foundation’s Leadership Institute for School Chamber of Commerce’s annual dinner. Cumberland Valley National Bank Principals kicked off in late June at the Center for Creative Leadership (CCL) in “I believe very strongly that the future of Kentucky is Danville Inns Ltd.-Quality Inn Greensboro, N.C., with 28 of the state’s princi- global, it’s international,” Collins said. “We’ve got to grow Domtar Paper Company pals attending. The remaining 27 principals visit- Eastern Telephone Company ed Greensboro in July. The program, which will in opportunities, in business, in dollars, in people.” Elswick Outdoor Advertising continue with two other sessions at the Collins’ presentation to the Henderson Chamber on Etown Small Engine Chamber’s headquarters in Frankfort later this international trade is one of several that she’s made on Galen College of Nursing year, is receiving rave reviews from participating behalf of the Kentucky Chamber in recent months. Gault-Marsh Development principals. Hanner Machine Company “The experience at CCL this week has been Heritage Bank Former chairwoman honored invaluable to me as an educator,” said Jennifer Hicks Golden Years Nursing Home COMMUNITY TRUST Inside Out Design Hutchison, of Picadome Elementary in Jeff Lee's Automotive Sales & Service Lexington. “I have learned a tremendous Bancorp, Inc. Chairman, Just Fabulous amount about leadership and look forward to President and CEO Jean Hale, KEDC using this knowledge this upcoming school year. a former chair of the Kentucky Luckett & Farley I greatly appreciate the business leaders who Tiffany Stith, principal of Smyrna Chamber Board of Directors, Mattingly Foods made this possible.” Traditional Elementary School in has been named Chamber Mediaura The principals spent their time in Greensboro Louisville, participates in activities Advocate by the Kentucky at the Center for Creative Objective Dx participating in experiential learning exercises, per- Leadership. Chamber of Commerce Pikeville Family Medicine Associates sonality assessments and career coaching and facil- Executives (KCCE), a society Jean Hale served as Plymouth Engineered Shapes Kentucky Chamber itated discussions about research surrounding successful leadership habits. of local chamber of com- chairwoman in 2004-05 Powell-Walton-Milward “It has been an amazing experience,” said Gary Fields of Bowling Green High merce professionals from Prodigy Construction Corporation School. “In two days, I have learned so much about myself as a leader. Not as a across Kentucky. PT Pros Hale was honored at KCCE’s annual Spring Tucker's Gateway Shop-O-Rama principal, but as a leader. I think that’s a powerful distinction.” Warner Fertilizer Company This program was funded through donations from Chamber members and Conference held in Frankfort, Ky., for her dedication non-members alike. The support from the business community has allowed all 55
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