Owensboro CP.qk:Layout 1 1/31/11 10:08 AM Page 991 A Community Profile published by Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 992 Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 1 Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 2 4 There’s Never Been a Better Time to Invest in Owensboro 9 You Can Bank on Owensboro 10 Creating Economic Success by Investing in Education 11 Greater Owensboro Chamber of Commerce Honored as Nation’s Best 12 A Strategy for a Changing Economy 14 Arts Help Owensboro Thrive 15 Multimodal Logistics in the Center of the United States 16 Owensboro’s 25 Largest Employers 16 One of the Top 50 Sports Towns in America A Community Profile Published by This special advertising report is published by Lane Communications Group 201 East Main Street, Lexington, KY 40507 (859) 244-3500 lanereport.com Editorial content provided by the Greater Owensboro Chamber of Commerce was written by Tracy McQueen Marksberry Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 3 Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 4 There’s Never Been a Better Time to Invest in Owensboro Downtown Owensboro attracts thousands to its annual International Bar-B-Q Festival. Payne expects the transformation to get Owensboro noticed, not only in Ken- tucky but across the nation. Leaders have crafted a careful plan, taking lessons from communities such as Dubuque, Iowa, home to one of the country’s premier riverfronts. “I made the com- ment that they were 10 years ahead of us, but we’re going to pass them in five,” Owensboro Mayor Ron Payne Payne said. The renaissance is the result of local leadership, federal funds and smart con- sultants. The project along the Ohio River has been discussed for years but was pro- BY TRACY McQUEEN MARKSBERRY convention center and $20 million hotel pelled by the promise of $40 million in in 2013. Owensboro Medical Health Sys- federal funds in 2005. Payne was elected WENSBORO is in the midst tem, the region’s largest employer, will on a platform of progress in 2008 and led an amazing makeover, with open a new $385 million hospital on the the charge to implement an $80 million more than $700 million in ex- city’s east side the same year, along with plan to do even more downtown with in- citing projects underway. major transportation improvements, mak- creases in the city and county insurance OAn $80 million downtown redevel- ing 2013 very lucky indeed. premium taxes. opment plan is taking shape, with River- “I used to say we’re revitalizing down- Nick Brake, president and CEO of front Crossing expected to open later this town. I stopped saying that,” said Mayor the Greater Owensboro Economic Devel- year. Major initiatives will follow quickly, Ron Payne. “We’re revitalizing the entire including the opening of a $27 million city of Owensboro.” 4 The Lane Report’s Greater Owensboro Community Profile Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 5 In the ‘Sweet Spot’ Q&A: Entrepreneurs Larry and Rosemary Conder discuss investing in downtown Owensboro Why did you decide to invest How important were the public in downtown Owensboro? improvements to your decision Owensboro is home for us in every sense of to invest downtown? the word. We had investments in mutual We are determined to see projects we funds from around the globe. We decided start completed and are totally in support to pull some of those funds and invest in of the public investment in downtown. home. Our reasons are essentially selfish. Seeing the riverfront park and Riverfront We love Owensboro and want to see it pros- Crossing plans were critical to our per and grow. And we have grandchildren continued investment. we hope to see live, work and play here. How confident are you that your How much property do you investment will pay off? own downtown? We are totally confident. With the reloca- We currently own The Creme Coffee House tion and expansion of the Bluegrass at 109 E. Second St.; Crowne Gifts and Center and the Events Center project, we Events at 107 E. Second St.; the historic will have a tourist destination to rival any Smith Werner Building at 116-122 W. Sec- city. It is wonderful to see us recognize the ond St.; vacant lots at 124 and 126 W. Sec- importance of our river and music history. Larry and Rosemary Conder, their son-in-law John Condray and daughter Adrianne Condray. ond St.; a building at 221 St. Ann St. across from the courthouse and buildings at 101 What recommendations would and 103 W. Third St. and 224 Allen St. you have for others considering an increases each year. We feel we are in the investment in downtown Owensboro? “sweet spot” for investment in downtown. How much have you invested? Now is the time to invest. It is true the We are encouraging any local and national We have invested approximately $2.5 initial cost of renovation of historic property venture capitalist to look at the incredible million in property and revitalization. is higher, but the value of the property potential of investing in Owensboro. opment Corp., said the community has community more attractive to visitors and worked closely with some of the best con- new residents. Although they faced con- sultants from around the country to de- troversy over the tax increase, Brake said velop a placemaking initiative to make the the community is fortunate to have bold leaders who saw value in investing down- town. City and county leaders joined forces in the midst of a national recession to make it all happen. “This is our front door. Downtown is the center of commerce,” said former Daviess Keith Free, Owensboro director of community County Judge-Executive Reid Haire. “If we development, explains the riverfront were going to do anything to move this com- redevelopment project to a small crowd munity forward, we had to start downtown.” during a tour in fall 2010. Construction is well under way on a walkway that will connect RiverPark Cen- To the west of McConnell Plaza lies ter, Owensboro’s performing arts center, 17 acres on the river, ripe for development. and Mitch McConnell Plaza, which in- It is the site of the former Executive Inn cludes a gazebo and other public gather- Rivermont, which the city purchased and ing spaces. Along the new walkway, demolished to make way for a new and im- Smothers Park will be expanded from less proved downtown. than an acre to more than three acres and Owensboro builder Benny Clark has a a signature fountain will be constructed. special fondness for riverfront developments, Riverfront redevelopment including “When people come down that river, I and he is the first to make major investments a new convention center, hotel and want them to immediately know it’s Owens- in downtown residential developments. Clark performing arts center is part of an boro,” Payne said. “That river was a signifi- has already constructed two upscale condo- $80 million downtown redevelopment plan now underway on 17 acres. cant part of our past. We’re working to make minium communities on the riverfront and it a significant part of our future.” hopes to do much more. The Lane Report’s Greater Owensboro Community Profile 5 Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 6 Construction on the new Owensboro riverfront plaza area in November 2010. Mark Green photo “We know that will work. There’s not ment is “one of the most critical if not “If you have an opportunity to live any other community anywhere close to here the most critical” elements of downtown downtown, you should do it,” Kathy Novick that has 17 acres downtown to do what we’re redevelopment. said. “You’re at the epicenter of everything.” going to do,” Clark said. “We have the best Sandy and Kathy Novick were Local leaders hope that $80 million in opportunity for growth ever.” pleased to find Rivercrest, Clark’s newest public investment will inspire private en- Downtown Development Director riverfront development, when they moved terprise to go downtown for both com- Fred Reeves said residential develop- to Owensboro from Michigan. mercial and residential uses. Owensboro CP.qk:Layout 1 1/31/11 10:09 AM Page 7 Artist’s rendering of the 447-bed $385 million Owensboro Medical Health System hospital scheduled for completion in 2013. The latest plans call for a $27 mil- lion convention and events center on the former Executive Inn Rivermont prop- erty, with part of it overlooking the Ohio River. It will be flanked by a $20 million, 150-room Hampton Inn and Suites hotel, developed by The Malcolm Bryant Corp. The 60,000-s.f. former state building, which the city purchased for $1.1 million, is under consideration as the new home for an expanded International Bluegrass Music Museum and Center. Newly elected Daviess County Judge- Executive Al Mattingly is optimistic struction jobs but also more business for local The largest project is Owensboro Med- about the future. restaurants, hotels and other businesses,” said ical Health System’s $385 million hospital, “It will be spectacular. It’s exciting. Greater Owensboro Chamber of Commerce scheduled for completion in 2013. Also under Things are happening in Owensboro,” Mat- President Jody Wassmer. “Cranes in the air construction is a $37 million extension of the tingly said. “People are starting to look to the are generally good for everyone.” U.S.