SOKY Economic Development and Business News

February 13, 2023

Vol. 1, Issue 3

Sen. McConnell & Paul: Americans have a different view of last week's State of the Union

U.S. Senate Republican Leader McConnell said Americans view the direction of our nation much differently than the president.

Kentucky Senators Mitch McConnell and Rand Paul had decidedly partisan views of the state of the nation after President Biden’s Tuesday address during a joint session of Congress.

U.S. Senate Republican Leader McConnell said Americans view the direction of our nation much differently than the president.

“I was looking at a survey today that said only 13% of the American people thought the state of the union was ‘strong.’ That means they don’t like the way things are going,” McConnell said.

“The border is open… crime is rampant… inflation is through the roof… in fact, the only that that’s come down lately was the Chinese balloon – thanks to our great military,” he continued. “But even then, after allowing it to traverse the entire country and survey many sensitive sites.

“It’s no wonder the American people are dissatisfied. The President did the best that he could do to try to convince people otherwise. I think it was largely a failed effort.”

-Kentucky Fried Politics

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Trader Joe's distribution center coming to Franklin

Trader Joe’s is coming to southcentral Kentucky, just not to where rumors have had the California-based grocery store chain setting up a retail shop.

Four months after being approved for state tax incentives, Massachusetts-based Trader Joe’s East Inc. has purchased 160 of the 187 acres in

Franklin’s new Stone-Givens Industrial Park and work has begun on a three-building, 1 million-square-foot distribution center that Simpson County leaders say will be the largest economic development project in the county’s history.

-Bowling Green Daily News

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Kentucky joins national initiative to expand access to college and career pathways

The Kentucky Council on Postsecondary Education (CPE) is pleased to announce its involvement in a new national initiative, Launch: Equitable & Accelerated Pathways for All. The program aims to expand access to high-quality and equitable college and career pathways for all learners.

The CPE will serve as the lead agency in collaboration with ten state partners, including the Kentucky Department of Education, Commerce Lexington, Inc., Kentuckiana Works, Kentucky Center for Statistics, Kentucky Chamber of Commerce, Kentucky Community and Technical College System, Kentucky Education and Labor Cabinet, Fayette County Public Schools, Jefferson County Public Schools and Shelby County Public Schools.

-Lane Report

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Kentucky Senate sends income tax cut bill to governor

Republicans wrapped up work Wednesday on making a deeper cut in Kentucky's individual income tax rate, sending the bill to the Democratic governor in the midst of an election campaign.

The measure won Senate passage on a 30-5 vote after an hourlong debate.

For Republican lawmakers, it's another step toward achieving a long-running goal to phase out individual income taxes in Kentucky. The attention will quickly shift to whether Gov. Andy Beshear — who is seeking a second term this year — will sign or veto the measure.


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“7 Brew” coffee shop coming to Bowling Green, donates to Stuff the Bus Foundation

7 Brew, a drive-thru coffee concept revolutionizing the coffee industry, dropped their building on-site at 2962 Scottsville Rd. on Friday, Feb. 4, 2023. They also donated $2,000 to the Stuff the Bus Foundation. The mission of the rapidly growing brand is to cultivate kindness through every drink they serve.

“With each new 7 Brew location, our goal is to make people’s days through great drinks and a great atmosphere. We are thrilled to bring this energy to Bowling Green,” said Ralph Cole, owner of 7 Brew Bowling Green. “Being involved in the communities we are a part of is something that’s important to our brand, and we are proud to support the impact that Stuff the Bus is making in Southern Kentucky.”

The construction crew dropped the future 7 Brew coffee stand into place this afternoon preparing for a March 27 opening.

Members of the Stuff the Bus Foundation attended the building drop to receive the donation from 7 Brew.


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Op-Ed: An easy tax change to support small businesses in Kentucky

For small business owners, every dollar counts. This is especially true today. With labor and materials costs rising rapidly, small business owners are looking everywhere they can for savings.

Lawmakers in Frankfort can help with these challenges by passing legislation to allow small business owners to deduct a greater share of their state and local taxes (SALT) from their federal income tax liability. They are often known as “SALT parity” or “SALT cap workaround” legislation. More than two dozen other states have passed such bills to provide federal tax relief for small business owners. These bills utilize a tax structure approved by the IRS and have no impact on state coffers. Small business owners save money through a lower federal income tax liability.

-Lane Report (Kevin Moser, Managing Partner of Anneken, Huey, & Moser PLLC)

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