The State Journal, Frankfort, Kentucky - July 14, 1996, By Susan Allen
Growth rate exceeds census projections, developers are busy
The sounds of jackhammers, bulldozers and heavy machinery, are being heard in much of Franklin County, which is the midst of an economic development and population spurt. Commercial and residential developments are popping up all over the county and some existing businesses are expanding. Local government officials have no explanation except the county is finally coming into its own to experience growth which is not related to state government. Economic Development Director Darrell Gilliam noted there have been three announcements of new manufacturing plants locating in the county within the last year, representing $15.2 million in new investment which will create 185 new jobs with a projected $3.9 million payroll. Four manufacturing expansions represent an $8.7 million investment; they are expected to create 126 new jobs and generate a $3.1 million payroll, Gilliam said. The economic impact of all the new developments is $25-26 million in new investments, 311 new jobs and total projected payroll of approximately $12.5 million. “That kind of investment and those kind of employment levels is a real shot in the arm,” Gilliam said. “All of our growth has been manufacturing, services, professional offices and that kind of thing, which is good. The future is real bright. I think you’ll see some additional growth in manufacturing, tourism and offices.” A major development by THP Development Company of Louisville at Poplar Creek Plaza, which will include a Wal-Mart SuperCenter and an expanded Lowe’s store, is expected to be a $25 million venture, Gilliam said. Frankfort Planning Director Vickie Sewell said an increase in population from outside sources – not state government – has boosted commercial development. Sewell added a low crime rate, good services, easy accessibility to larger metropolitan areas and numerous shopping opportunities are some of the reasons Franklin County is being recognized as “a great place to live.” Some concerns exist among small business owners with the location of a Wal-Mart SuperCenter on the west side, but Sewell said programs are in place to help offset a decline in business. “The Chamber of Commerce has some programs and contacts for local businesses to go to local training sessions on how to compete with Wal-Mart (or other) super stores,” Sewell said. “They (Wal-Mart) haven’t run anybody out of town yet.” An effort to pump new life into downtown Frankfort is underway, also, to prepare for the opening of the $20 million Kentucky History Center, slated for next year. Downtown Frankfort Inc. and other local groups are trying to develop a plan with local restaurant owners to keep downtown eating establishments open later in the evenings. “A task force kind of group, made up of merchants and interested citizens in all of our commercial and historic areas, has been formed,” Sewell said. “One of the things that the downtown group talked about is the fact there needed to be cooperation with the merchants that restaurants stay open later. If it’s going to be a tourism community, with the history center, you’re going to have to offer these tourists something to eat and drink while they’re shopping and looking at our shops.” “Downtown Frankfort is taking the initiative to be able to develop on their own and figure out what their needs are and what’s not being served and trying to market that area,” she added. Gilliam said national economic trends, plus Frankfort’s reputation as being “business friendly” town, in part, have lead to the local growth. “It’s a combination of things. The national economy is very strong. It’s about the hottest I’ve seen it in 20 years,” Gilliam said. “Interest rates are stable. In general, Kentucky is hot. We are still reaping the benefits of the automotive industry, particularly supplier plants to Ford and Toyota. We’re strategically located between the Nissan, BMW plants in the South and the Honda and General Motors plants in the North. “In Frankfort in particular, I think a combination of being a well-located community with easy access east, west, north and south, and, also, from the rededicated marketing effort within the last year (has led to growth),” Gilliam said. “We offer the cost of doing business of a smaller community, but yet we’re within 30-35 minutes of a major metropolitan area.” Latest census projections, Gilliam said, have increased Franklin County’s anticipated growth rate, from about 2 percent to 3.5 percent during the decade from 1990 to 2000.