A recent study released by the University of Kentucky reports that the Kentucky Proud program, the Kentucky Department of Agriculture’s “buy local” initiative, has become a highly successful investment of the commonwealth’s tobacco settlement funds. According to the report, every dollar of tobacco settlement money invested in Kentucky Proud added $4.70 in additional farm income. More than 1,300 farmers, processors, retailers, restaurants, farmers’ markets and state parks are members of Kentucky Proud.
New projections issued by the Consensus Forecasting Group (CFG) estimate a shortfall of more than $450 million this fiscal year for Kentucky’s state government, a figure that represents a 5.1 percent decline in revenues. The CFG also projected a $104.7 million shortfall in the road fund, a decline of nearly 8 percent. Gov. Steve Beshear is formulating a plan to address the shortfall and meeting with legislators and people throughout the state for input in “finding the best way to navigate an economy as challenging as any in U.S. history.”
The Association for Corporate Growth (ACG), a professional organization focused on corporate growth, development, and mergers and acquisitions, has announced the formation of ACG Kentucky. ACG Kentucky will be headquartered in Louisville, but will hold statewide meetings and event with the goal of facilitating networking, deal flow and the sharing of best practices among local corporate growth and merger professionals. For more information on ACG Kentucky, visit www.acgkentucky.org.