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March 2015 Volume Xxiii, Issue Iii

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USINESS OCUS BOFFICIAL PUBLICATION OF COMMERCE LEXINGTON INC. F MARCH 2015 VOLUME XXIII, ISSUE III KansasHere City We Come! Leadership Visit May 13-15 | Register Now Emerging Leader Scholarship Apps Due March 13th Inside This Issue: Photo Courtesy of KC Chamber Second Annual EMERGE Conference is Thursday, March 5th Spring Opportunity Exchange Event is March 26th Featuring Stacey Wade Kentucky Legislative Session Update 2015 Annual Dinner Recap www.CommerceLexington.com BUSINESS FOCUS March 2015: Volume XXIII, Issue III INSIDE THIS ISSUE ECONOMIC DEVELOPMENT: 4-5 STAT: Average Weekly Wages Improving, But at Slow Rate Lexington’s Global Game Jam Helping to Grow Industry Next Venture Club Meeting Features Student Pitch Competition Spring Opportunity Exchange Event is March 26th Business Focus is published once a month for a total of 12 issues per year by Commerce Lexington Inc., 330 East Main Street, Suite 100, Lexington, PUBLIC POLICY: KY 40507. Phone: (859) 226-1600 6 Legislative Update: 2015 Kentucky Legislative Session Nears End 2015 Chair of the Board: Herb Miller, President EVENTS: Columbia Gas of Kentucky 8-13 @330 Series: Helping Businesses Navigate Tough Times Publisher: The Club at Spindletop Hall Hosts Next Business Link Robert L. Quick, CCE, President & CEO 2015 Annual Dinner Recap with Photos by Bill Straus Commerce Lexington Inc. Emerging Leader Apps for K.C. Trip Due by March 13th Second Annual EMERGE Conference is March 5th Editor: Mark E. Turner Communications Specialist: Elizabeth Bennett Printing: Post Printing 14-19 GET CONNECTED: Mail Service: Lexington Herald-Leader Commerce Lexington Inc. Social Media Guide Subscriptions are available for $12 and are SKO’s Bill Lear to Chair 2015 Winner’s Circle included as a direct benefit of Commerce Leadership Development Program Recaps Lexington Inc. membership. Business Focus Ambassador Spotlight: Monica King (USPS 012-337) periodical postage paid at Lexington, Kentucky. Welcome New Commerce Lexington Inc. Members Member Personnel Announcements & Awards POSTMASTER: Send address corrections to Business Focus, Commerce Lexington Inc., P.O. Box 1968, Lexington, KY 40588-1968. WHAT 2 WATCH 4 Display Rates For DISPLAY RATES in Business Focus, con- tact Dana Zinger at (859) 226-1607 or [email protected], and an account executive will contact you. Emerging Leader Scholarship Columbia Gas of Kentucky Applications Due March 13th for Presents Spring Opportunity Personnel Updates Kansas City Leadership Visit Exchange Event March 26th Submit your company’s awards and mile- stones or personnel changes and additions to [email protected]. Personnel news might include promotions, additions, awards and milestones, recogni- tions and certifications and/or appoint- ments. Information is published only as space permits. @330 Series Event: Helping The Club at Spindletop Hall, UK Businesses Be Prepared for Federal Credit Union Co-Sponsor Adversity, Navigate Tough Times Business Link on April 16th 2 BUSINESS FOCUS MARCH 2015 COMMERCE LEXINGTON INC. TOP INVESTORS 2015 COMMERCE LEXINGTON INC. DIAMOND INVESTORS (AS OF 02-12-2015) Alltech Anthem Blue Cross & Baptist Health BB&T Bingham Greenebaum Central Bank & Trust Co. Columbia Gas of Community Trust Bank Deirdre Lyons Blue Shield Lexington Heath Campbell Doll LLP Luther Deaton Jr. Kentucky Larry Jones Director, Corporate Kennan Wethington William G. Sisson Regional President Job D. Turner, III Chairman, President & Herb Miller President Image and Project Regional Vice President President/CEO Partner, Lexington CEO President Management Office Fifth Third Bank Forcht Bank Humana Kentucky Keeneland Association Kentucky American Kentucky Community Kentucky Eagle, Inc. Kentucky Employers’ Mike Ash Tucker Ballinger Jennifer Willis Bill Thomason Water & Technical College Ann Bakhaus Mutual Insurance President President Market President President/CEO Cheryl Norton System (KCTCS) President Jon Stewart President Dr. Jay K. Box President & CEO President KentuckyOne KU Lexington-Bluegrass City of Lexington Lexington Industrial Lexmark McBrayer, PNC Bank R.J. Corman Railroad Health a PPL Company Association of Jim Gray Foundation International, Inc. McGinnis, Leslie & John Gohmann Group Sue Downs David Freibert Realtors Mayor Robert Trimble Paul Rooke Kirkland, PLLC Regional President Craig King Interim President, Director of External Larry Freels Dir., Distribution Chairman & CEO James H. Frazier, III President Saint Joseph Affairs President Operations, Managing Partner Hospital Kentucky Utilities Co. Stites & Harbison, Stoll Keenon Toyota Motor UK HealthCare University of U.S. Bank VisitLEX Windstream Wyatt, Tarrant & Your Community PLLC Ogden, PLLC Manufacturing, Dr. Michael Karpf Kentucky Laura Boison Mary Quinn Communications Combs, LLP Bank Kenneth R. Sagan William M. Lear, Jr. Kentucky, Inc. Executive VP for Dr. Eli Capilouto Market President Ramer Barry Bishop J. Mark Burton Jeff Koonce Member Managing Wil James Health Affairs President President & CEO Region VP, Partner-in-Charge Central Kentucky Director President Operations Market President DIAMOND INVESTORS: Commerce Lexington Inc. recognizes member businesses investing $20,000 or greater annually in overall activities, including the Full Stride economic development campaign, membership dues, and event sponsorships. MARCH 2015 BUSINESS FOCUS 3 ECONOMIC DEVELOPMENT A Collaborative Effort of the Bluegrass Business Development Partnership (BBDP): SUBMITTED BY: Gina Greathouse, Hannah Huggins & Kimberly Rossetti, CLX Economic Development Division Stat of the Month: Average Weekly Wages Improving, But at a Slow Rate Weekly wages in the Lexington area are improving very slowly. Since the start of the recession in December 2007, average weekly wages fell from approximately $778 to a low of $722 in August 2013. Since that time, wages have recov- ered to approximately $746. Nearby metro areas and the nation did not see as large of declines in average wages and have stabilized at higher levels than in the Lexington metro area. The stagnancy of the recovery in Lexington’s metro area wages is largely in response to slower growth in the higher-paying manufacturing sector. Despite the fact that the many local manufacturing facilities are expanding, it is likely to have only a short-term impact on wage growth as much investment and retooling is focused on using automation and robotics. Lexington’s Global Game Jam Helps Grow the Game Development Industry Lexington’s Global Game Jam took place January 23rd through the 25th and was hosted by RunJumpDev. This event serves to grow the game and technolo- gy industry in Lexington through the cooperation of the Bluegrass Business Development Partnership and Bluegrass Community and Technical College. Over a 48-hour period, twenty-four developers came together to produce seven unique games with the theme “What Do We Do Now?” RunJumpDev’s site is a part of the larger Global Game Jam community, which itself had a record-breaking year with 28,837 registered participants across 518 jam sites in 78 countries. This year, Kentucky had three jam sites, including the RunJumpDev site, showing a marked growth in the development of Kentucky games. March 18th Venture Club Meeting Features By The Numbers: Pitch Competition for Student Entrepreneurs In 2015, Commerce Lexington’s Economic Development Division has responded to calls Join the Lexington Venture Club for its together student teams, who are developing from the following: next meeting on March 18th, from 11:30 business and commercialization plans to a.m. to 1:00 p.m. at the Hyatt Regency create new business ventures. New Business: 11 new prospects interested in Lexington. The University of Kentucky’s Von See some of the best and brightest entre- finding a new location or expanding operations Allmen Center for Entrepreneurship and the preneurs from the region. Come cheer on Existing Clients & Local Entrepreneurial Lexington Office of the Kentucky Innovation and vote for your favorite team. The Companies: 3 companies with potential Network have partnered with UK’s Gatton Lexington Venture Club will award a $1,000 expansions in Lexington College of Business & Economics MBA pro- prize to the best team/idea. The cost to Client Visits: 3 gram, iNET, and other colleges and universi- attend is $35 per person. Register on-line at Existing Business Visits: 32 ties across the Commonwealth to bring https://2015marchlvc.eventbrite.com. 4 BUSINESS FOCUS MARCH 2015 MINORITY BUSINESS DEVELOPMENT THURSDAY, MARCH 26, 2015 | 4:00 - 6:00 P.M. | CLARION HOTEL (1950 NEWTOWN PIKE) Spring Opportunity Exchange is March 26th Commerce Lexington Inc.’s Spring Opportunity Exchange pre- PRESENTED BY: sented by Columbia Gas of Kentucky will feature great network- ing and interaction for minority- owned and small businesses in the Lexington community. Stacey Wade, founder of NIMBUS, will address participants at the event. NIMBUS is a fully-integrated cre- STACEY WADE GOLD SPONSOR: ative agency focused on the ideolo- Republic Services of KY, LLC gy of creating great work that is inclusive to a growing multi-cultural market. Stacey’s client list includes many SILVER SPONSOR: top brands such as Toyota, MTV Networks, Vectren, WUKY 91.3 FM Monster Headphones, Conjure Cognac, Soul Headphones by Ludacris and more. From dynamic design and brand identity to fully-integrated and innovative mar- Medical Device keting strategies, his results are achieved through a bal- and Manufacturing ance of creative energy and strategic thinking.
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