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Mayor Greg Fischer is taking part in a 10-day trip to India, organized by the international Strong Cities Network (SCN), that will include a visit with His Holiness the Dalai Lama.
As part of the trip, funded by the U.S. Embassy in India, Mayor Fischer and Tom Tait, Mayor of Anaheim, Calif., will meet with government, business, media and thought leaders to discuss approaches to making cities safer and communities stronger amid the rise in violent extremist groups around the globe.
Mayor Fischer also will be speaking to members of India’s business community at the Indian Merchant Chamber of Commerce, and industry, interfaith and community leaders at various stops throughout the trip. He’ll also meet with state and city officials, including the mayor of Mumbai Vishwanath Mahadeshwar, and discuss Louisville’s story in interviews with India’s media.
“Visits like this are great opportunities to promote our city,” Mayor Fischer said. “Our focus on compassion is something that resonates worldwide and is so relevant in today’s world. And I always welcome to the chance to tell our city’s story to potential investors and business interests that may be looking to expand in the U.S.”
India’s population is 1.3 billion, and its GDP is about $2.3 trillion.
SCN Manager Rebecca Skellett said the two mayors were chosen for the trip because of their focus on compassion, which has been championed by the Dalai Lama. Anaheim’s City of Kindness initiative parallels Louisville Compassionate City efforts.
“Mayor Fischer and Mayor Tait are both driving forward innovative practices to build social cohesion with city-wide Charters for Compassion and Kindness, which offer tremendous value to residents and businesses alike,” Skellett said. “This is why we’re delighted to be taking these two U.S. Mayors to Delhi, Mumbai and Dharamsala — to share their journeys, inspire Indian cities and policy makers, and learn more about how India’s diverse range of communities live together side by side.”
Mayor Tait said, “As a city, we must always respond to daily needs for public safety and community services. But kindness is our long game. It has the potential for positive change over generations. While cities across the world may face different issues, the impact of kindness is the same. We are honored that His Holiness the Dalai Lama has embraced what we are doing in Anaheim. His words to us sum it up perfectly: ‘Creating cultures of kindness and compassion throughout the world is the key to achieving world peace.’”
Launched by the Institute for Strategic Dialogue at the United Nations in September 2015, SCN “is the first ever global network of mayors, municipal-level policy makers and practitioners united in building social cohesion and community resilience to counter violent extremism in all its forms,” according to its website.
SCN membership is diverse, including large megacities like London and Mumbai, to smaller municipalities such as Kristiansand and Tripoli. What unites SCN members is their desire to share their experiences, learn from others and build community resilience against the divisive ideologies of hate, division and violence in all its forms.
“The network catalyzes, inspires and multiplies community-centric approaches and action to counter violent extremism through peer learning and expert training including city exchanges, annual summits, regional workshops and providing consultancy to cities,” the website said.
Mayor Fischer, who leaves for India Tuesday afternoon, said he’s pleased to share Louisville’s successes in compassion, community building and economic growth, and to learn best practices from others while visiting India.
DPL Financial Partners LLC, an independent insurance consulting firm, will expand in Louisville with a $3.6 million-plus investment expected to create 40 full-time, high-paying jobs, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced today.
“The financial services industry is building momentum in Kentucky, which is yet another sign of a fast growing economy,” Gov. Bevin said. “DPL’s expansion is proof that service companies are realizing the many advantages of doing business in Kentucky, including our skilled employees, high quality of life, low business costs and close proximity to much of our nation’s population. We welcome DPL to the commonwealth and are grateful to them for their investment here.”
DPL, currently on Stanley Gault Parkway, will move within Louisville as part of its expansion. Company leaders have yet to finalize the exact location. Following a soft launch in 2017 and with recent recruitment of investors, the company stands primed for growth. In the coming months, DPL will add sales and marketing, information technology and finance positions to its current staff.
“Louisville is an ideal location for our growing firm,” said David Lau, DPL founder and CEO. “We’ve attracted experienced, talented individuals to our team and appreciate the governor’s support as we look to expand our staff in the future.”
DPL is an insurance network for registered investment advisors, providing them and other fee-based advisory practices with a new model for offering low-cost, commission-free insurance to consumers. Lau founded DPL in 2014 to provide consultation to some of the nation’s largest insurance carriers on commission-free products. The commission-free approach saves money for customers, increases value and, ultimately, improves insurance products.
Mayor Fischer said the company makes a great fit in the city’s existing insurance and financial business community.
“Louisville is proud to have a historically strong financial services sector that can support new business growth such as these new, high-wage jobs at DPL Financial Partners,” he said. “I applaud DPL’s double down on investment in our city and look forward to seeing their fast-paced rise on the national financial services scene.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in January preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over a five-year agreement term through corporate income tax credits and wage assessments by meeting certain targets. Those targets are: creation of up to 40 jobs paying at least an average $62 an hour including benefits, and the investment of $3.6 million. The company has since decided to inject more capital into the project without additional incentives.
In addition, DPL can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal 2017, the Kentucky Skills Network provided training for more than 120,000 Kentuckians and 5,700 companies from a variety of industry sectors.
For more information on DPL Financial Partners, visit www.dplfp.com.
Photo: Louisville Forward
Four businesses were approved for loans totaling $291,000 by the Louisville Metro Departments of Economic Development and Resilience and Community Services. The loans will leverage a total investment of more than $1.2 million and will assist the businesses to open, expand services or rehabilitate properties.
METCO small business loans have been awarded to the following businesses:
• $190,000 Go Green loan has been approved for Nicholas Ellis on behalf of CFG Holdings for its property located at 1202 S. 3rd Street in Old Louisville. The loan will allow owner Nicholas Ellis to increase energy efficiency by replacing the HVAC unit, installing additional insulation and improving the electrical system. After improvements are made, the annual energy cost savings is estimated to be nearly $4,000. The owner plans to reopen the building as mixed-use with commercial tenants on the first and second floors and residential apartments on the third floor.
• $86,000 façade loan has been approved for Refuge Community Development, Inc. for its property located at 1716 Prentice Street in the California neighborhood. The loan will allow owners to rehabilitate the building and return it to its original use as a worship facility, which will be rented out to Refuge in Kentucky Church.
Microbusiness Development Program loans have been awarded to the following businesses:
• $10,000 loan to Flo’s House of Soul, LLC to assist owner Jason Alexander Hatcher with rent, insurance and supplies. Flo’s House of Soul is a sandwich shop and ice cream parlor located at 3400 W. Muhammad Ali Blvd. where customers can purchase fun food favorites at a family-friendly venue.
• $5,000 loan to Sherrell Anderson dba DN Surprise Florist and Gifts to assist owner Sherrell Anderson with insurance, rent and inventory. DN Surprise Florist, located at 2001 W. Broadway, provides services such as floral, wreath, bouquet, vase and centerpiece design. Online FTD delivery services and in-store purchases also are available.
The Metropolitan Business Development Corporation (METCO) governs metro government’s small business loans, which include facade, accessibility, and gap financing loans. Because metro government is not the primary lender, the loan program allows many public-private partnerships between government and private business ventures that further the vitality and quality of life in the Louisville community.
The METCO board meets the fourth Thursday of each month. Meetings are at 9:00 a.m., at the offices of Louisville Forward, located at 444 S. 5th Street, 6th floor. Remaining meetings for 2018 are scheduled for February 22, March 22, April 26, May 24, June 28, July 26, August 23, September 27, October 25 and December 13.
To learn more about the METCO loan program, visit
https://dev.louisvilleky.gov/government/louisville-forward/local-loan-programs
The Microbusiness Development Program helps low and moderate income business owners with starting and growing small businesses. A microbusiness employs five or fewer people, including the owner. The program includes training, technical assistance and an opportunity to apply for a loan, which can range from $5,000 to $15,000.
Many microbusinesses have little or no access to the commercial banking sector, and this loan program helps business owners who need capital. Borrowers have a choice of two programs, one for businesses which have been open for at least one year, and one for start-up businesses.
For more information about the Microbusiness Development Program, visit the Small Business Clinic at the Nia Center, 2900 W. Broadway, or visit https://louisvilleky.gov/government/resilience-and-community-services/microbusiness-program
EY, one of the world’s largest business-services organizations, opened its new center for executive assistants and other professional functions within its expanded and remodeled downtown Louisville office, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced today.
“We are excited to see a global icon like EY finalize plans to make Kentucky an integral part of its operations,” Gov. Bevin said. “EY’s new professional service center is further evidence that the commonwealth is an ideal destination for companies seeking a skilled, professional workforce, outstanding quality of life and low operating costs. Their innovative office concept is a prime example of why the company has been a leader in its industry for generations. We are grateful for their continued confidence and investment in Kentucky.”
The 20,109-square-foot office at 400 W. Market St. serves as EY’s Kentucky and southern Indiana market headquarters and houses members of the firm’s expanding National Executive Assistant Team (NEAT) along with the rest of EY’s practice. The center supports EY executives across the country. The firm operates similar centers in Dallas, Cleveland and Tucson. The company invested $4.3 million to remodel and outfit the Central Business District location as an expansion of its professional practice office, which has been part of Kentucky for nearly a century.
The Louisville NEAT center showcases the company’s EY@Work office design, which includes a mix of individual and collaborative spaces and robust technology resources to support teamwork and productivity. EY also announced Louisville native Greg Pope will lead the NEAT center as office managing partner for Kentucky and Southern Indiana.
“The opening of our modern, engaging office space and the ever-evolving business climate makes for an exciting time to join the Louisville office. This space will allow our people to grow as professionals and do their best work at EY, with innovation and teaming at the forefront. This collaborative environment will lead to us asking better questions and providing better answers for our clients,” Pope said. “We’ve built an amazing practice and culture here in Louisville. As a Louisville native, I could not be more excited and proud to carry them forward and work closely with our people to advance EY’s purpose of building a better working world.”
EY’s market position and brand in Louisville led in large part to the firm selecting Louisville for the NEAT center. Specialty branding in the office also celebrates EY’s 95-year legacy in the Louisville area, with unique visual nods to Muhammad Ali, the Kentucky Derby and more.
Pope succeeds David Calzi, who assumes the lead role for EY’s central region government and public sector.
“I could not be happier for Greg and for our entire practice. He is an amazing professional and more importantly a great guy who cares very deeply about the community we all live in. He along with our dedicated and passionate professionals will take the EY brand in the market to even greater heights.” Calzi said. “I am heartened by this successful transition as well as the addition of the National Executive Assistant Team being an impetus for the expansion of our local footprint. EY has been a proud local citizen for close to a century and will continue to be so for many years to come.”
Louisville Mayor Greg Fischer said EY’s new space helps it continue growing as an integral part of the city’s flourishing professional services sector.
“Thanks to EY’s continued investment in our city, Louisville’s business services cluster is leading the way in innovative back office support,” said Mayor Fischer. “We congratulate EY on officially opening their forward-thinking and efficient center for doing business on a global level, and we look forward to supporting EY’s team.”
Sen. Gerald Neal, of Louisville, welcomed the new jobs to the state’s 33rd District.
“This investment and commitment in our community will provide much-needed jobs and a boost to our local economy,” Sen. Neal said. “We look forward to a long and prosperous partnership.”
Rep. Darryl Owens, of Louisville, said the company’s new office was the product of a group effort and proof the city is a major driver of commerce.
“This opening is great news for our community, especially those who will benefit from these new jobs and the businesses that EY serves,” Rep. Owens said. “I want to thank its leaders for making this investment, and I appreciate the local and state cooperative spirit that made this announcement, and others like it, possible. This further solidifies our well-earned reputation as the commonwealth’s economic engine.”
EY traces its roots to the early 1900s with the founding of two accounting firms; Ernst & Ernst in Cleveland, and Arthur Young & Co. in Chicago. Their 1989 merger created Ernst & Young, which then became Ernst & Young LLP.
The firm is a member firm of the global EY organization whose members provide assurance, tax, transaction and advisory services to many of the world’s largest companies. EY operates in 152 countries and employs 231,000 people globally.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority in February 2017 preliminarily approved the company for tax incentives up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, the firm can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. In fiscal year 2017, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on EY, visit www.ey.com.
photo credit: Jamesmac96
Venue industry publication, Pollstar Magazine, released its 2017 Year-End Worldwide Ticket Sales rankings and AEG Facilities’ managed KFC Yum! Center is ranked 24th in the nation and 50th in the world for ticket sales by venue, having sold more than 386,000 tickets in 2017. The arena broke its records for total tickets sold and total number of concerts hosted in a calendar year, both set in 2014.
AEG Facilities, the KFC Yum! Center’s management group, owns, operates or is affiliated with 26 of the top 100 arenas worldwide, including the No. 1 ranked The O2 in London.
Multiple factors contributed to the success of the arena including the record breaking number of concerts, quality of artists who performed at the venue and fan support. Of the 29 total concerts hosted at the KFC Yum! Center in 2017, 14 sold out and three were ranked in the top 10 tours in the world, including Guns N Roses, Bruno Mars and Ed Sheeran. The Louisville community visited the venue in record numbers, but more than half of the venue’s ticket sales came from regions outside Louisville, including Lexington, Cincinnati, Evansville and Indianapolis.
The KFC Yum! Center is excited for a strong slate of amazing shows in 2018, including Kid Rock, Luke Bryan, P!nk, Maroon 5, among many others.
*Value includes concerts and family shows only; does not include sporting events, private meetings or trade shows
A major project to improve safety along one of the city’s most traveled highways began a new phase today, as Mayor Greg Fischer and U.S. Dept. of Transportation Secretary Elaine Chao announced the construction kickoff of the New Dixie Highway Project.
Upon completion in December 2019, the improved corridor will include safety improvements such as new medians, wider sidewalks and clearly marked crosswalks; efficiency improvements including responsive traffic signals linked by fiber optic cable; and the city’s first bus rapid transit system which will vastly improve bus travel times to and from downtown.
“The U.S. Department of Transportation’s $16.9 million TIGER grant is providing nearly half of the funding for the New Dixie Highway Project to greatly improve the Louisville area transportation network,” said Secretary Chao. “As a resident of Louisville, I have spent a lot of time driving Dixie Highway and am delighted to be part of this effort to improve the safety and efficiency of the city’s busiest traffic corridor.
The $35 million project will create a New Dixie Highway that’s safer for drivers and pedestrians, and will fuel transformation of a major economic corridor for southwest and west Louisville. The New Dixie Highway Project is the first major construction project under the Mayor’s MOVE Louisville initiative.
“We’re investing more money into improving Dixie Highway right now than any other corridor in the city,” said Mayor Greg Fischer. “This road is a crucial connector for people to get to schools, to work, to health care, and most importantly, to get back home. This project will not only make Dixie safer for drivers, but it will make it more attractive for business owners, consumers and investors.”
Dixie Highway carries nearly 60,000 vehicles per day near its busiest intersections, which is a higher traffic count than some interstate stretches. Dixie Highway also suffers a fatality rate three times higher than comparable Kentucky roadways.
The project includes funding from federal, state and local sources, including a $16.9 million federal TIGER grant, $5.28 federal funds through KIPDA, $12 million in state funds, and $600,000 from Louisville Metro.
“It takes collaboration and support between city, state and federal partners to move a project of this size forward,” said KYTC Secretary Greg Thomas. “The upcoming construction, coupled with roadway improvements in recent years, will completely transform Dixie Highway into a safer, better-connected corridor.”
Mayor Fischer, Sec. Chao, KYTC Sec. Thomas, Congressman John Yarmuth, Metro Council members and other leaders celebrated the New Dixie Highway construction kickoff at the Kroger Marketplace, a $23 million grocery and retail superstore, at 4915 Dixie Highway. The location is appropriate, Mayor Fischer said, because the project builds on the renaissance already under way on the corridor, with tens of millions of dollars in private investments in new restaurants, retail businesses, housing and other developments.
Safety improvements lead the way
This month, MAC Construction began preparations for construction, including temporary lane shifts and utility location. Safety improvements will include new concrete medians designed to limit left turns between Crums Lane and Greenwood Road. Dedicated turn lanes will reduce the risk for head-on collisions. Pedestrians will enjoy new, more accommodating sidewalks that are eight feet wide in many areas, and better markings for crosswalks.
The city’s busiest transit corridor will also get the region’s first “bus rapid transit” line, including distinctive TARC buses and high-visibility shelters to help move thousands of people daily and better define the 14-mile corridor. More than 100 trees will be planted along the route, as well as native grasses and plants within the new landscaped medians.
Mayor Fischer thanked state legislators, Metro Council members and the KYTC for their commitment to improving safety and mobility along Dixie Highway, noting that without their work to secure state and local matching funds, the city would not have been able to leverage the federal grant to jump-start the project.
Bus rapid transit will help move people to work, home
Fueled by a $16.9 million federal TIGER grant, the New Dixie Highway project will include a new bus rapid transit line along Dixie Highway from around the Gene Snyder Freeway to Broadway, and connect to the downtown business district. It will include specially designed vehicles and bus stations that will reduce travel times for riders and increase reliability along Louisville’s most used public-transit corridor.
“This strategic investment in a proven transportation solution will help transit users get to work, to stores and back home faster and more reliably than today,” Yarmuth said. “That’s important for working families, employers and our regional economy.”
With more than 30 distinctively branded bus shelters, new buses and sidewalk improvements, the New Dixie Highway project will also help transform the look and feel of the corridor.
Multiple improvements on Dixie are already underway or completed
Overall, more than $50 million has been invested in Dixie Highway in a series of projects over the past two years. The total investment of federal, state and local dollars includes:
- $14.5 million in pavement replacement and resurfacing underway along a five-mile segment from Stonegate Manor Drive to Greenwood Road
- $2.5 million in resurfacing work completed this summer – a two-mile section from Algonquin Parkway to Maple Street (31W) and a six-mile section from the Jefferson/Hardin county line to Stonegate Manor Drive
- $2.5 million project to clean and repaint the Dixie Highway overpass at the Watterson Expressway completed last year
- $800,000 project completed this fall to add a new sidewalk along the east side of Dixie, and straighten ramp and add a signal at the westbound I-264 Shively exit
Open house meetings planned for early 2018
Citizens will get a chance to learn more about the planned improvements at an open house meeting in early 2018. Citizens can also get more information through the project website (www.TheNewDixieHighway.com) and social media channels, including Facebook and Twitter.
Follow progress on the New Dixie Highway at TheNewDixieHighway.com, on Facebook, and on Twitter @NewDixieHighway.
photo credit: Jamesmac96
The Louisville Arena Authority and the KFC YUM! Center announced the successful refunding of its outstanding debt. Scott C. Cox, the Arena Authority Chairman, stated that “we are pleased with the restructuring of the LAA’s debt. The new structure will allow the KFC YUM! Center to continue to operate as a world class facility for all Kentuckians.”
The weighted average interest rate for the 2017 issue is 4.544%. The weighted average interest rate for the 2008 issue was 6.455%. This almost two percent reduction in the weighted interest rate will result in tremendous savings for Kentucky taxpayers.
The bonds were sold to institutional investors across the United States and to individuals in Kentucky.
Chairman Cox emphasized his appreciation for the partnership that achieved the KFC YUM! Center’s new investment grade rating. Governor Matt Bevin, Senate President Robert Stivers, former Speaker Jeff Hoover and current Speaker David Osborne, Louisville Mayor Greg Fischer, the Louisville Metro Council and its President David Yates, and President Greg Postel of the University of Louisville and Mr. J. David Grissom, Chairman of the Board of U of L’s Board of Trustees all deserve great credit for their help in restructuring and improving the KFC YUM! Center’s finances.
Mayor Greg Fischer said, “Congratulations go to the KFC YUM! Center team for a successful bond sale, which will result in savings of many millions of dollars for our community. This positive step is the result of the City, Commonwealth and the University of Louisville working together for the benefit of citizens and the local economy.”
Hilliard Lyons served as the financial advisor to the Arena for the refinancing and Bank of America Merrill Lynch led a twelve member underwriting team that brought the issue to market this week in New York.
The KFC YUM! Center is managed by AEG Facilities.