The Louisville-Jefferson Co. Metro Government has hired the Creative Time art group to develop a plan for creating more public art in the city. Mayor Jerry Abramson said Creative Time artists and curators will spend the next year studying Louisville’s visual arts history and laying out a strategy for funding and placing more public art in all parts of the city. The $50,000 master plan, which will include recommendations for funding public art, is expected to be completed next fall.
Integrity Asset Management, a Louisville investment management firm, was the sole Kentucky company to be named to Inc. magazine’s annual Inc. 500 list, a ranking of the country’s fastest-growing private firms. Integrity Asset was ranked No. 47 on the list and pulled the No. 6 ranking among financial services companies. Founded in 2003, Integrity employs 15 people and is 100 percent employee owned, with ownership distributed among five principals who are active employees with the firm. Between 2004 and 2007, the company saw revenues increase by 3,217.9 percent.
Chrysalis Ventures, a Louisville company that is a leading source of equity capital for young growth companies in the Midwest and South, has announced the revised final closing of its fourth investment fund, with commitments now totaling $175 million. The firm, which invests primarily in health care services and technology, media and communications, and emerging trends and technologies, announced in February 2008 that it had raised $163 million and exceeded its $150 million target for the fund. Chrysalis Ventures’ fourth fund attracted commitments from a variety of institutions and high-net-worth individuals, many of whom have been serial investors in Chrysalis’ prior funds. The firm also welcomed such new limited partners as Morgan Stanley, Credit Suisse and the Kentucky Teachers’ Retirement System. The most recent addition was Health Evolution Partners, a manager of health care investment funds.
Copart Inc., an online remarketer of vehicles, has opened a new 10-acre facility in Louisville. The new facility is the California-based company’s fourth Kentucky location; the company also operates two Lexington locations and one in Walton. Copart sells vehicles on behalf of insurance companies, banks, fleet operators, and car dealerships, offering a range of remarketing services to process and sell salvage and clean-titled vehicles.
National Tobacco Co. has announced that it will discontinue all manufacturing and distribution at its Louisville facility by the end of next year, eliminating some 100 jobs. Officials with the company, which will retain its administrative offices in Louisville, said it was simply no longer feasible to continue operating out of the existing Louisville plant, which is 108 years old. The company plans to outsource production of its loose-leaf tobacco products, including its Beech-Nut brand, to Swedish Match North America’s facility in Owensboro.