General Motors Announces CORVETTE C7 to be Built in Bowling...

National Corvette Museum: General Motors Announces C7 to be Built in Bowling...:

The General Motors Corvette Assembly Plant was packed full of community and state leaders, GM officials, media and supporters of Corvette today in hopes of good news with regards to the future of Corvette and Bowling Green. It was good news indeed as GM North American President Mark Reuss took to the podium and announced their plans to invest $131 million in the Bowling Green Assembly Plant, "This facility is particularly thrilling for me to be at because I've had Corvettes, in fact, Corvette is one of the reasons why I went to work for the company a long time ago," said Reuss.



"It's a thrill for me to be here today in Bowling Green as the bearer of good news at one of our very best facilities building" our most iconic car," Reuss said. "When I say our most iconic car, I really mean America's most iconic car."



Reuss then cut to the chase and made the announcement everyone had been hoping for, "I'm here to announce that GM will invest $131 million in Kentucky to ensure that the next generation Chevrolet Corvette will be produced by this team, in this plant, in Bowling Green - the Home of Corvette.



Reuss's announcement was met by resounding applause, cheers and a standing ovation



"Thank you to you because you are the reason and the quality and the innovation and the craftmanship that happens here is a direct reflection of our re-investment, but more importantly as much money as that is, we really are adding about 250 jobs to the area..."



Reuss said the current generation will continue for about two more years while work happens behind the scenes work will begin to update the facility and ensure the Corvette will continue to be the true American sports car built here for many years to come. The C7 model is predicted to be debuted Spring of 2013 for a 2014 model year Corvette.



"As you know Bowling Green is a special place and not just to me and to GM but to Corvette lovers around the world. This place is THE mecca for those who appreciate true affordable sports car performance and they come from the four corners of the globe to see what you do here," said Reuss. "It is amazing and it is inspiring and it is very American. "



Reuss added that they come to see the birthplace of the American car that holds it own against Porsche, Ferarri, BMW and the rest of the legendary European sports car makers, both on the street and on the track. "They come to see how on earth Americans can build such a car... a car that meets and beats the best in the world, and the world has to offer, although typically the world has to offer theirs at a MUCH higher price point."



Reuss praised the craftsmanship of the Bowling Green Assembly Plant, that the plants in Italy wish they could match. He added that though GM boasts the Corvette getting 27 miles per gallon, that he had a Corvette in school and would get better than that - 29 miles per gallon from Detroit to Nashville. "Like the ad says, you are building rockets."



"Unlike any other facility in North America your doors are open to our customers who make pilgrimmages to Bowling Green to see their car being built, meet the people, and visit the National Corvette Museum." Reuss also praised the Museum pointing out that it is not funded by General Motors. "I'm one of the lovers of the Museum and the heritage of Corvette and this state means a lot to me personally."



Reuss closed his presentation saying "Tadge and the team are doing the next generation Corvette and it will thrill all of the sports car drivers of the future and it will be built right here." He added that this is just one of their ongoing investments of billions of dollars in their US facilities, keeping and creating jobs for their American workers.



Later in the presentation Kentucky Governor Steve Beshear named Reuss a Kentucky Colonel, presenting him with a framed certificate and mint julep cup.



Watch a complete video of Reuss's speech on the National Corvette Museum's You Tube channel at www.youtube.com/corvettemuseum. High res images are also available for download at:
https://picasaweb.google.com/corvettemuseum/GMC7Announcement

Bowling Green is a Top-Ranked Metro by Site Selection Magazine

Bowling Green is a Top-Ranked Metro by Site Selection Magazine

BOWLING GREEN, KY-Site Selection Magazine's March 2011 issue has recognized Bowling Green for an impressive 2010 in economic development projects. Amongst metropolitan areas with populations under 200,000, the city was ranked as third in the nation for its number of industry expansions and locations in 2010. Bowling Green is the only Kentucky metropolitan area other than Cincinnati/Middletown (Ohio, Ky., Ind.) to be listed in the magazine's Top 10 metropolitan areas by number of projects this year.

Site Selection ranked Bowling Green as No. 3 in the nation for its 12 expansion and location projects in 2010, with the city following behind No. 1 Lake Charles, La. and No. 2 Altoona, Pa. This year's ranking is the highest to date that Bowling Green has received from the magazine, and this is the third time in four years that Bowling Green has been listed in Site Selection's Top 10 Metros by Number of Projects.

"Site Selection is one of the premier magazines for the economic development industry, and we're proud to see our city and region receive national recognition for economic development projects," explained Ron Bunch, CEcD, president and CEO of the Bowling Green Area Chamber of Commerce. "It's an honor to be ranked in the magazine once again, especially at such a high level, and we are eager to continue our work to market South Central Kentucky to the world."

Site Selection publisher Conway Data's yearly analyses are regarded as "the industry scoreboard" by corporate real estate analysts. The magazine's circulation base consists of 44,000 executives involved in corporate site selection decisions. To determine the rankings, Site Selection utilized Conway Data's database to track industry location and expansion projects on a state and metropolitan area level. Qualified projects include those that meet at least one of three criteria: (1) involve a capital investment of at least $1 million, (2) create 50 or more jobs, or (3) add at least 20,000 square feet of new floor space.

In 2010, the Chamber participated in 21 economic development projects, 15 of which were expansions. These projects announced 1,653 new and retained jobs and a capital investment of more than $241 million for South Central Kentucky, and they will create an additional $140 million in annual economic impact. These are the highest job and capital investment figures that the Chamber has experienced to date. Below is a list of the announced projects that the Chamber supported in 2010.

New Projects

Integrated Pharmaceutical Company (Barren County) - $5.1 million capital investment, 100 new jobs
Certifed Flux Solutions (Butler County) - $863,000 capital investment, 12 new jobs
Renaissance Industries (Edmonson County) - $1 million capital investment, 15 new jobs
Kentucky Chrome Works LLC (Hart County) - $2.6 million capital investment, 80 new jobs
Medina Blankings (Shiloh Industries, Inc.) (Warren County) - $9.9 million capital investment, 60 new jobs
Pure Power Technologies (Warren County) - $884,440 capital investment, 10 new jobs
Expansion Projects

Amneal Pharmaceutical Company (Barren County) - $6.6 million capital investment, 48 new jobs
Corvac Composites LLC (Butler County) - $8.1 million capital investment, 75 new jobs
Gulfstar Energy (Butler County) - $5 million capital investment, 7 new jobs
Sister Schubert (Hart County) - $33.2 million capital investment, 65 new jobs
American Howa Kentucky (Warren County) - $11.5 million capital investment, 86 new jobs
Bando USA (Warren County) - $7 million capital investment, 15 new jobs
Country Oven Bakery (Warren County) - $10.6 million capital investment, 33 new jobs
Fruit of the Loom (Warren County) - $47 million capital investment, 600 new jobs
Magna Car Top Systems (Warren County) - $952,775, 30 new jobs
NASCO (Warren County) - $10 million, 206 retained jobs
Owl's Head Alloys Inc (Warren County) - $3 million capital investment, 30 new jobs
SCA Personal Care (Warren County) - $44.1 million capital investment, 65 new jobs
Sun Products Corporation (Warren County) - $23.9 million capital investment, 73 new jobs
Topura America Fastener (Warren County) - $9.3 million capital investment, 30 new jobs
Xhale Inc (Warren County) - $175,000 capital investment, 13 new jobs
As projects are completed, South Central Kentucky will see more residents, additional tax revenues, and increased sales because the impact of new manufacturing jobs carries through the region into all industries. For example, 100 manufacturing jobs in Warren County will create $15.96 million in economic impact for all industries, and that number continues to grow each year. One hundred new manufacturing jobs created in 2010 will have a 10-year cumulative impact of more than $196 million.

"It is great to once again be ranked in Site Selection for our many projects," said City of Bowling Green Mayor Joe Denning. "These rankings give our city national recognition and create top-of-mind awareness for professionals throughout the economic development industry."

Site Selection also recognized Glasgow (Barren County) as a top micropolitan area by number of projects. With three projects, Glasgow tied for 41st with cities in Georgia, Indiana, Ohio and Pennsylvania, among others.

"Rankings in Site Selection bring attention to the economic development progress being made by South Central Kentucky," said Warren County Judge Executive Michael Buchanon. "Because of our regional approach, we understand that a ranking for Bowling Green or for Glasgow is not limited to only those municipalities. Growth in one county equals growth for the entire region."

"Congratulations again to our economic development leaders in the region for their 2010 achievements," said 2011 Chamber Board of Directors Chairman Rodney Rogers. "It's an honor to be a part of a nationally recognized community like ours, and we look forward to continuing the tradition of delivering value to our current and expanding industries, as well as attracting new investments to the region."

The article and rankings can be viewed in their entirety at www.siteselection.com.

BGHS Among Top High Schools Nationwide

Bowling Green High School Receives Third Medal from US News and World Report

For the third consecutive year, Bowling Green High School is at the top of the class among high schools nationwide. Today, US News and World Report released their annual list of America’s Best High Schools. The top 100 high schools in the nation were awarded gold medals, the next 561 silver, and an additional 1,750 bronze. BGHS is one of only 8 high schools in Kentucky to earn a Silver Medal. There were no gold medals awarded in the Commonwealth.

Principal Gary Fields attributes Bowling Green High School’s most recent recognition to the work of everyone in the Bowling Green City Schools Purple family. He says, “I hope everyone takes personal pride in making this honor possible for our school. Our work from preschool to high school, and the support of our alumni and community, has led our students to achieve great things.” He also adds, “It is a great day to be a PURPLE.”

US News and World Report used a three-step formula to calculate the list of top schools. First, they measured how students performed on state tests, adjusting for student circumstances. Next, they evaluated the performance of each school's disadvantaged students. Finally, they looked at the school’s success in providing college-level coursework such as Advanced Placement courses.

BGHS has approximately 1,075 students enrolled in grades 9-12. Of the student population, 34% are minority students, and 44% are eligible for free or reduced lunch. Kentucky Core Content Test results from 2009 confirm Bowling Green High School is performing above the state average in all content areas.



Currently, Bowling Green High School offers 17 Advanced Placement Courses, which are open to all students. In the spring of 2009, 26% of BGHS students completed at least one Advanced Placement exam. Results from the College Board Exams show 62% of those students earned college credit.



US News and World Report will publish the America’s Best High School rankings in the January 2010 issue. Printed copies will be available to subscribers and on newsstands on or around December 17.



For more information, visit:

http://www.usnews.com/listings/high-schools/kentucky/bowling_green_high_school

How to Price Your Home in Today’s Market

When we meet with prospective home buyers, one of their first questions is inevitably, “How low below the asking price should I expect to pay?” Our answer is always the same… it depends! Some homes are priced fairly and others are grossly overpriced. Wecannot recommend a generalized strategy as we need to weigh the merits of each home individually against their prices.

When our team members work with a seller to list their home, our strategy is to determine the home’s approximate market value, and then offer it for sale for as close as possible to (or even slightly below) that number. This strategy is especially important in a declining market. If we were to tack on an extra 10% of “wiggle room” onto our asking price, and then the market dropped 5%, we would be 15% above the market. The larger the gap between market value and asking price, the greater the chance that the right buyers will not see your home. Rather, buyers in the market for a more expensive home will see yours, and it will pale in comparison to the competition. The most effective strategy is to price slightly below the market so your home is the “best in its class.”


How We Determine a Home’s Value
When evaluating a home’s market value, we consider the following factors:

1. Availability and pricing of similar properties - Is the home unique or are there many like it for sale? If there are others for sale, how do they compare? What would it cost to get those homes to the same condition as yours, and vice versa?

2. Condition - Unless it is a very unique property, buyers in today’s market will discount the value of a home that requires more than simple cosmetic work. On the other hand, a home that offers popular amenities and is tastefully decorated will stand out among the competition.

3. Utility of Floor Plan - When we value a property, we look at the utility of the floor plan. For example, a three bedroom house with two bedrooms on the second floor and the third in the lower level would appeal to fewer people than a three bedroom house with all three bedrooms upstairs. A deck can be a plus, but less so if it is only accessible by walking through the master bedroom. Also, a kitchen with a large pantry would have more appeal than a kitchen with minimal storage.

4. Location - This used to be the single most critical criteria in evaluating home values, but as our city grew and neighborhood boundaries blurred with new development popping up all over, buyers were more willing to sacrifice location for value. Still, there are certain factors (like being near an El track, a bar, or on a busy street) that will negatively impact market value. Likewise, certain locations still command a premium.

There are some factors that are irrelevant to market value. They include:

1. How much you paid when you bought the property?

2. How much you spent improving the property?

3. How much you owe against the property (mortgages and/or equity lines)?

4. The amount you hope or need to get from the property’s sale

Why Testing the Waters Doesn’t Work
Sometimes sellers ask if we can just “test the market” at a price that we both know is above their home’s market value. There are several reasons why this is a bad idea including the following:

1. Your home gets the most visibility the first time you list - and you only get one first time. There are buyers out in the market who have seen everything else, and they are waiting for “the right” home to come on the market. If your home is overpriced, those buyers are less likely to see it, and they may not be around to take a second look after you reduce your price.

2. Based on our experience, the longer your home is on the market for sale, the less negotiating leverage you have. Buyers will discount your asking price (even if it has been adjusted) if there is a lengthy market time, as it is their “proof” that the home is overpriced.

3. You may ultimately get less when you sell, than if you had priced it correctly in the beginning. We have seen sellers put their homes on the market with ambitious prices, receive offers, and turn them down because they were to low relative to their asking price. Subsequently, the offers stopped coming, the prices have been reduced to below what the sellers previously turned down, and they are still carrying the property. This is a slippery slope to be avoided.

4. Selling it is only half the battle. Once under contract, your home needs to appraise for the price on the contract, or the buyer will have to put more money down toward the purchase. Even if we are lucky enough to get someone to pay an over market price, there is a good chance the sale will fall apart or the buyer will renegotiate price when they receive their appraisal.

Why the Right Agent Can Mean the Right Price
So, how does your real estate agent evaluate competing inventory, condition, utility of floor plan and neighborhood? In smaller communities, agents can be familiar with each home that is available or sold recently because the total scope is manageable. But, in our area, where there are hundres of properties on the market at any given time. It is impossible to have physically inspected every home. So, we rely on our experience and on the information and photos found in our Multiple Listing Service (MLS). Sometimes we also reach out to agents who have sold similar properties and ask them for help so we can make an accurate comparison.

Note that while past and current sales data is available in the MLS, not every agent will interpret it the same way. The “lens” through which we see sales data will be colored by our overall experience, as well as by our level of expertise in the property type, in the price range, in our knowledge of the neighborhood, and our overall outlook. For example, an agent who is an expert at valuing a farm property may not be qualified to value a luxury home. So, in searching for an agent to sell your home, be sure to ask for a list of properties these agents have sold in the last two years, and verify that they have related experience.

Final Notes
It is critical to understand that while we have the tools to help you estimate market value, it is only a momentary assessment. Pricing in this market is highly volatile. We will put a home on the market based on our estimate of value, but the following week the family who lives on the same street may decide to put their home on the market at a price that is $20,000 below yours. Assuming the condition is equal, the value of your home will drop by at least $20,000, perhaps more. You need to work with your agent to continually monitor the market once you have listed your home to make sure your pricing is still competitive. If not, immediately adjust in an increment that will allow you to reach a new audience (at least 5%).

The good news is that in the Southern Kentucky there are still plenty of buyers. If your home is in good condition, priced at or below its current market value, and there are not too many like it for sale, you should get showings and even offers.

J.M. Smucker Company to Bring Jobs to Scottsville

Governor Beshear Announces the J.M. Smucker Company to Bring 25 Additional Jobs to Scottsville
Contact:

FRANKFORT, KY - Gov. Steve Beshear and Economic Development Cabinet Interim Secretary Larry Hayes today announced J.M. Smucker LLC will add a new production line to its Scottsville plant, investing $3 million dollars and creating an additional 25 jobs in the community.

"We're delighted with the positive news resulting from the success and growth of The J.M. Smucker Company plant in Allen County," said Gov. Beshear. "Kentucky is proud to partner with the company and community to bring this additional investment and jobs to the South Central Kentucky region."

The announcement comes after the Kentucky Economic Development Finance Authority approved J.M. Smucker LLC for tax incentives up to $550,000 under the Kentucky Rural Economic Development Act, an incentive program designed to increase manufacturing employment in the state.

Currently, 288 employees work at the Scottsville plant, which makes Smucker's Uncrustables frozen peanut butter and jelly sandwiches. The additional line will bring a new "grab and go" waffle product to the plant.

"The addition of the new Snack'n Waffles line to our Scottsville facility will allow us to better meet the needs of our consumers while continuing to grow the successful operation already in place there," said Maribeth Badertscher, director of corporate communications for The J.M. Smucker Company. "We are pleased to be adding these 25 new jobs and to be continuing to build our strong partnership with Scottsville and Allen County."

"The Smucker's plant is a great asset for Scottsville, Allen County and the entire South Central Kentucky region, and I am excited about the new product the company will be making in Allen County," said Richie Sanders, director of economic development for Scottsville and Allen County. "By adding another 25 jobs to their facility here, they are creating more wealth for our area and are making a positive impact on our community."

"Today is a great day in our community because of Smucker's commitment to bring additional jobs to Allen County," said Jordan Clarke, chairman of the Allen County Economic Development Authority. "We're grateful to Smucker for the opportunity it is creating for our citizens."

"We are dedicated to helping our businesses and industries grow in Allen County," said Judge Executive Bobby Young. "It's a great day when we can announce that one of our longstanding industries has decided to bring more jobs to our county."

Scottsville Mayor Rob Cline agreed. "With this announcement, Smuckers demonstrates its commitment to residents of Scottsville and Allen County. We're excited that they have decided to create more jobs here, and we're very appreciative of their decision."

Allen County is part of the South Central Kentucky regional partnership, taking advantage of the enhanced marketing package offered by the Bowling Green Area Chamber of Commerce.

"The South Central Kentucky partnership was formed to help bring in new industries and expand current industries throughout the entire region," said Todd Davis, chairman of the 2009 Bowling Green Area Chamber of Commerce, "And the whole partnership is successful when an announcement comes like the one made today."

N.E.W. Customer Service Companies, Inc. Continues to Grow Work-at-Home Program in Bowling Green

N.E.W. Customer Service Companies, Inc. (NEW), the nation's leading provider of extended service plans and buyer protection programs for consumer products, hit the ground running in Bowling Green with their work-at-home customer service program. Back on May 29th, the company announced that they would be bringing a unique opportunity to the community with their work-at-home program. The program has been so successful that the VA-based company is launching a second group of company-paid training classes beginning on October 20th. This new training class is expected to bring an additional 160 jobs to Bowling Green over the course of a year bringing the total number of jobs to 320 by May 2009.


"Bowling Green has far exceeded our initial expectations back in May at the start of the program," said NEW's Senior Vice President of Customer Experience Ray Zukowski. "The caliber of the candidates and the tremendous support and enthusiasm we have received from the community has been the deciding factor in expanding the Bowling Green work-at-home training site."

"This is the third expansion announcement the Chamber has been a part of since the beginning of October," said Bowling Green Area Chamber of Commerce Board of Directors Chairman Doug Gorman. "We're grateful to NEW for their enthusiasm and support of our community, which they're showing once again by choosing to expand their operations here."

Many new NEW employees in the area are reaping the benefits of the work-at-home program. "There are several things that I love about working for NEW," said NEW Customer Care Representative, Jonita Woodcock. "The people are great - everyone has a winning 'can do' attitude. I work from my home, which is something I have always wanted to do, and the money I save on gas really helps the budget. But, the number one thing I love about working for NEW is the extra time I have for my family."

Saving on gas is just one of the perks of these customer care positions. NEW's work-at-home program offers paid time off, comprehensive company-paid training, set work schedules, competitive hourly wage, free DIRECTV and tremendous opportunities for professional growth.

"In May we were very proud to welcome NEW to our community," said Bowling Green Mayor Elaine Walker. "Their commitment to bringing jobs to South Central Kentucky was very exciting, and now our excitement continues because NEW has announced this expansion-all due to our outstanding workforce here!"

Warren County Judge Executive Michael Buchanon agreed with Mayor Walker. "It hasn't been five months since we announced that NEW would locate here, and they've already decided to expand their workforce. Their decision is a great testament to the quality of employees offered here in South Central Kentucky," he said.

Interested job candidates can learn more about the work-at-home customer care positions by visiting www.newhomebasedccr.com. Virtual job fairs are also available on the website. Eligible candidates must have a computer and basic PC skills.

About N.E.W. Customer Service Companies, Inc. (NEW)
NEW is the leading provider of extended service plans, buyer protection services and product support, providing coverage to more than 150 million consumers worldwide. Founded in 1983 with headquarters in Sterling, Va., NEW provides award-winning, post-sale consumer care for leading retailers, consumer service providers, wireless carriers and financial services firms. NEW has expanded its product offerings and now delivers a comprehensive customer care solution that begins on day one of the product purchase and extends through the end of the product lifecycle. For more information, please visit NEW at www.newcorp.com.

DESA, LLC Announces Additional Manufacturing Operations to Move to Bowling Green Headquarters

BOWLING GREEN, KY-DESA, LLC announced its plans to bring more than 100 new jobs to its Bowling Green headquarters yesterday. These new jobs will come from the planned move of DESA's Power Tools Division manufacturing and distribution operations from Manchester, Tenn., to Bowling Green.


The consolidation and additional jobs in Bowling Green will provide additional manufacturing capacity to produce the new Remington Power Mower and support the continued growth of the Power Tools Division. DESA expects to add 100 new jobs to the Bowling Green headquarters over the next several months, along with additional jobs as new products from the Power Tools line are introduced into the marketplace in the coming years.


DESA, LLC is a manufacturer and marketer of electric lawn and garden tools and heating products. DESA's corporate office is located in Bowling Green, Ky., which is also home to the Retail Heating Division, the Power Tools Division and distribution. Other divisions include the Professional Heating Division and the International Division. DESA's products are marketed under the following brand names: Remington, Master, Vanguard, Reddy Heater, Comfort Glow, Design Dynamics, Outdoor Leisure, FMI and Glo Warm. The company's channels of distribution include home centers, distributors, contractors, mass merchants and hardware cooperatives.


The decision to consolidate existing manufacturing operations from Manchester to Bowling Green did not come easily to DESA; however, the company based its decision on the availability of several Lean process improvements at the Bowling Green headquarters, which will allow it to maintain a competitive edge in the power tools market.


"While this is an extremely difficult decision for everyone involved, it was required to provide the manufacturing capabilities to sustain our future growth" said Lance Servais, President, Power Tools Division. "Our headquarters in Bowling Green is growing substantially this year because of our primary goal, which is to remain the leader in the marketplace for electric lawn and garden tools and heating products."