SOKY Economic Development and Business News

March 20, 2023

Vol. 1, Issue 8

Content Compiled from Various Sources

A wave of legislation receives final passage before lawmakers recess for vetoes

Lawmakers often compare the chambers of the House or Senate to an arena.

They sometimes quote Theodore Roosevelt’s famous passage about faces “marred by dust and sweat.”

If ever a week in the General Assembly proved those sentiments correct, it was the one that wrapped up late Thursday night when the legislature gaveled out for a 10-day veto recess.

The last full week of the 2023 Regular Session was ablaze with electric oratory and raw

debates as lawmakers hotfooted from committee to caucus to chamber – all in a four-day sprint to get bills to the governor’s desk.

-Public Information Office, Kentucky General Assembly

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Brooke Waldrup to head Logan industry recruitment

The Logan Economic Alliance for Development, Inc. (LEAD) is pleased to announce the hiring of Brooke Brown Waldrup as its new President/CEO. Brooke will begin her new position effective April 3. She is a graduate from Western Kentucky University and brings with her several years of experience in state government. 

-Jimmy Kent Wilson, LEAD Board Chair

-The Logan Journal

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Inflation Reduction Act – Clean Energy Tax Credits

The Inflation Reduction Act of 2022 (the “IRA” or “Act”) presents an opportunity to significantly offset the cost of constructing renewable energy generation facilities and other green-energy projects. Specifically, the Act amended the Internal Revenue Code (IRC) to incentivize clean energy technologies in three ways: (1) by extending already existing energy tax credits while establishing a two-tiered credit structure; (2) creating a host of new tax credits; and (3) monetizing the tax credits. Now, with the potential bonus tax credits available, the Act can take investment tax credits on certain projects as high as 70% of the qualified investment.

-Dutton, Masterson, Agnihotri, Schikler, and Tomoki - Frost Brown Todd -

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Independent Community Bankers of America (ICBA)voicing community bank resiliency amid banking industry developments

Amid a series of developments following the closure of Silicon Valley Bank on March 10, 2023, ICBA said it is ensuring the community banking voice is being heard while it reminded consumers they can bank with confidence at a community bank.

-ICBA Newsroom

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Steve Lutz named Western Kentucky head

men's basketball coach

Steve Lutz has been named the 16th head men's basketball coach at Western Kentucky University, Director of Athletics Todd Stewart announced on Saturday.

"We are excited to name Steve Lutz as our next head coach," said Stewart. "He is a proven winner and a respected coach with a track record of consistent success in recruiting, player development, academics, and community involvement. It is nice to hire someone with head coaching experience, but it is even better if they have winning head coaching experience. After having a major impact at Purdue as an assistant coach, Steve's impact at Texas A&M – Corpus Christi over the last two seasons as a head coach is remarkable. He inherited a program with four consecutive losing seasons and led an immediate turn around culminating in conference championships and an NCAA Tournament appearance each season. And, over his last seven seasons, his teams have reached the NCAA Tournament each year. He is the right person at the right time to lead our program."

-WKU Sports

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