January 2008

Welcome to eFYI, your exclusive monthly e-newsletter from Greater Louisville Inc. - The Metro Chamber of Commerce. As one of our valued partners, you can count on eFYI to cover the topics and issues of most interest and benefit to you. Share your comments and ideas with us any time at VFisher@greaterlouisville.com.


Louisville is cited as a safe city
More local startups get investments
Bioplastics company to locate plant in Seymour
Twin towers planned
Liberty Green soon to begin selling home lots
MKM Machine Tool boosts expansion plans
New service boosts airport
Center City up to $442 million
Scientists receive $2 million grant for tissue technology


Louisville is cited as a safe city


 Louisville Metro has been rated the eighth-safest city among metropolitan areas with a population of more than 500,000.

The 14th annual report, published by CQ Press, a division of Congressional Quarterly Inc., ranks cities based on six basic crime categories -- murder, rape, robbery, aggravated assault, burglary and motor vehicle theft. It uses a formula that measures how a city or metro area compares with the national average for a crime. The result in each category is combined to determine a final score. Read more.


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More local startups get investments

Thirty local ventures are known to have received private or state investments over the past 12 months, closing out what has been a good year for Louisville startups looking for funding, according to Mark Crane, executive director of the Enterprise Corp, a division of Greater Louisville Inc., the metro chamber of commerce.

Last year, 15 companies received funding. This year's investments followed a trend toward "more deals being done, but smaller deal size," with total awards of about $11.5 million. Read more.


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Bioplastics company to locate plant in Seymour

Cereplast Inc., a manufacturer of sustainable plastics, plans to locate a plant in Seymour, Ind., that will create about 200 jobs.
Cereplast designs and manufactures bio-based, sustainable plastics that are used as substitutes for petroleum-based plastics in processes such as injection molding, thermoforming, blow molding and extrusions. Read more.


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Twin towers planned

 A Louisville developer is planning a $150 million project that will feature twin glass office towers across from Slugger Field along Main Street.

The 12-story towers will be another new piece in the changing landscape of the growing Main Street corridor.

Jefferson Development Group, headed by Kevin Cogan, recently filed a plan for the project with the city that calls for 626,000 square feet of office space and 11,000 square feet of retail space.

The towers would both be built on top of eight levels of parking with a total of 1,466 spaces. Two levels of the parking are to be underground. And a plaza would be developed between the towers on the garage roof.

The garage and first office tower is expected to be completed around 2010 and the second tower completed a year or two after that. Read more.


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Liberty Green soon to begin selling home lots

The Liberty Green project -- which aims to build an urban neighborhood on the eastern fringe of downtown Louisville -- is ready to move into the next stage.

Lots for homes are being offered for sale to complement the 185 rental units that already are part of the $233 million development.

Construction at Liberty Green, which replaced the Clarksdale public-housing project, started in 2005. It is being funded, in part, with a $40 million federal Hope VI grant, the same type of funding that helped build the successful Park DuValle project in western Louisville, which also replaced a large public housing project.

Already, 185 mixed-income rental units have been completed at Liberty Green, with 180 of them under lease. Read more.


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MKM Machine Tool boosts expansion plans

MKM Machine Tool Co. Inc., a manufacturer of high-precision machine parts, plans to expand its Jeffersonville headquarters more than previously anticipated to increase its production in the automotive sector.

The company announced earlier this year that it would invest $6.7 million in new equipment and hire 35 production workers. Now, those figures have expanded to about $12.7 million and 87 new jobs, according to Dan Peterworth, president and chief operating officer of MKM. Read more.


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New service boosts airport

 An estimated 3.8 million passengers boarded and departed planes at Louisville International Airport this past year, an increase of 3.7 percent, with October the busiest month since the terrorist attacks of September 11, 2001, according to the airport.
Louisville added flights to Denver, Raleigh, N.C., and Boston and expanded service to Orlando and Tampa in Florida and to New York City and Charlotte, N.C., in 2007, attributing to the increase.
Other highlights from the year included the completion of a new baggage screening system that screens luggage in nearby buildings rather than at the airport ticket counter. Read more.



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Center City up to $442 million

The cost of plans for developing the old Louisville Water Co. headquarters block downtown has nearly doubled to $442 million.

The original cost figures announced in August were conservative and have since firmed up and the Cordish Co., which also owns 4th Street Live, is contemplating "more bells and whistles" for the proposed Center City District, city officials said.

The block will eventually include a 20-plus-story tower -- probably primarily condominiums and a cinema complex, hotel, office space, retailing, restaurants, nightclubs and other entertainment.

There is no schedule yet on construction, but it is hoped that ground could be broken by the end of 2008. Read more.


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Scientists receive $2 million grant for tissue technology

Two Cardiovascular Innovation Institute scientists, Stuart Williams and Jay Hoying, have received a $2 million grant from the National Institutes of Health to develop "tissue printing" technology.

The Cardiovascular Innovation Institute, a partnership between the University of Louisville and Jewish Hospital, is used to conduct early-stage research, animal studies, clinical trials and other studies aimed at advancing medical care for heart-related conditions. Read more.


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