Ray Hagerman, MHCEDC President |
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My Take On Buying Local.... |
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If you’re like me, Buying Local makes me feel like I’m doing something good. But I know I also buy things online. It might be cheaper and we have so much more to choose from, especially considering all that money dished out to us because of Covid-19. Sit at home on the couch and spend the stimulus checks buying stuff. It has to be helping the overall economy, right? |
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As of today according to the Daily Mail, the biggest traffic jam in the world is occurring at the Port of Long Beach (yes, the one in California). Sixty-two cargo ships are lined up at the port trying to get unloaded. They will process over 9 million containers this year (1 million over last year) and 40% of the container traffic in the United States goes through this port.
Why the traffic jam?
First, it’s Consumer Good Imports (mostly from China), stemming from the increase in Covid-19 purchases that have somehow continued. Consumer Goods, mind you, not business raw materials or components, which means it’s probably stuff we wanted rather than needed.
Second, a shortage of truck drivers (average pay over $50,000 annually) to carry the same stuff all over the country. Madisonville Community College has a CDL training program, by the way, if you’re interested.
Fedex and the US Post Office just announced they are upping their prices for shipping on average 5.9%, and you can bet UPS will follow suit (according to the Guardian). This is a full percentage point higher than last year, and they are doing away with most of their high-volume business discounts. Why? Because of the off-the-charts volume and because they can (meaning too much of our shipping transactions are concentrated in too few hands).
There is no direct negative impact of all the online sales at the Commonwealth of Kentucky level because tax is charged on them and 100% of the sales tax goes to Frankfort. However, there are plenty of sales that didn’t happen locally as a result.
So, here we are having to pay more and wait longer for the stuff we really didn’t need by continuing to buy so much online.
At least if we had purchased local, it would have fed our neighbors and we would have gotten it the same day. Just sayin’.
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Pennyrile Area Development District
Revolving Loan Fund Program
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The Pennyrile Area Development District Revolving Loan Fund Program is available to assist in the financing of projects in the Pennyrile Area that result in the creation of new jobs and/or have a significant impact on the
economic growth of a Pennyrile community.
Program Guidelines
- Projects financed may include manufacturing, service, or tourism-related businesses.
- PADD is not a primary lender and will require other lender’s participation in a project to equal or exceed the PADD loan amount. The maximum loan amount cannot exceed $250,000. Job creation requirements also impact the maximum loan amount.
- Loan terms will match the life of the asset financed, but not exceed twenty years.
- Interest rates are currently set at 4 percent.
- Projects must be creditworthy and meet standard credit tests.
- Project owners must inject a minimum of 10% toward the project cost.
- Only fixed assets (land, buildings, and equipment) may be financed.
- Personal or corporate guarantees are normally required of principals.
- Projects must be evaluated from an environmental aspect.
- A $300 application fee is required with the application.
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Please contact Jason Vincent or Amy Frogue for an application or further information at (270) 886-9484 . |
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KENTUCKY MOVERS AND MAKERS |
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Cookie Cutters printed on a MakerBot 3D Printer |
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We paired up with the Madisonville Minority Economic Council for a fun day of tours at the makerspace. |
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New member, Bobby Carter tried his hand at laser engraving! |
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What is Kentucky Movers and Makers? |
Kentucky Movers and Makers non-profit community Maker Space is here to serve Western Kentucky's creative community with over 7,000 sq. ft. of air conditioned workspace. Our community space offers membership access to hands-on learning, and equipment that we maintain. |
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Hopkins County employers, are you utilizing the free job posting website that we created? The number of available jobs in Hopkins County, Kentucky, is already at a 15-year-record level, and hundreds of millions of dollars in new business investment are coming to our community. Organizations are challenged to find the skilled workers they need, and prospective employees are challenged to keep up to date on the opportunities of the moment.
HopkinsCoKYJobs.com was designed with both the job seeker and the employer in mind. As an employer, you can submit a job online and choose which category(s) you would like the position to be posted, helping to find potential employees with specific training, backgrounds and experience. Our goal is to help provide an opportunity for qualified applicants to find your job listing, fast! These listings are kept on the website, posted on Facebook, and emailed weekly to hundreds of job seekers.
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2021-2022 LEARNING SERIES ANNOUNCEMENT |
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Registration details coming soon. Keep watch on our website and Facebook page. |
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UPCOMING EVENTS + TRAINING |
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9/30/21
5:00 PM - 7:00 PM
Kentucky Innovation Station
Here are two hours well spent:
Enjoy drinks and appetizers with entrepreneurs like you. Don’t forget your business cards! Drop-in 9/30/21 for an Entrepreneur Happy Hour welcoming entrepreneurs & other local business leaders to connect and learn from each other.
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10/2/2021
10:00 AM - 1:00 PM
Kentucky Movers and Makers
Grab breakfast and coffee at The Roastery at Kentucky Movers and Makers before dropping in at Demo Day to see local makers working at the maker space. Watch as they hand craft items and see how their products are made! This event is open to the public to attend. No ticket is required.
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Innovate + Caffeinate
10/6/2021
7:30 AM
Kentucky Innovation Station
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Hopkins County I+C
is a caffeine fueled, free monthly gathering for entrepreneurs of all stages. Entrepreneurs, like minded professionals and ecosystem builders offer support and learning opportunities as a presenter delivers a brief talk about their business or brewing business ideas and the opportunities and challenges that come along with both.
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Free CoWorking Wednesdays |
10/6/2021
8:30 AM - 4:00 PM
Kentucky Innovation Station
Free CoWorking Wednesdays at Kentucky Innovation Station. Not sure if coworking is right for you? Try it out on the first Wednesday of every month!
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10/19/2021
6:00 PM - 8:00 PM
Kentucky Movers and Makers
This beginners class will show you basics and demonstrations of how to use the CNC Plasma cutting table for cutting out shapes from flat sheet metal class. Class Goals:
We will start with a demo and familiarization with the Baileigh CNC Plasma Cutter.
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Madisonville-Hopkins County
Economic Development Corporation| Website
Contact Us:
(270) 821-1939
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