Members of the South Western Kentucky Economic Development Council unanimously approved their budget for fiscal year 2023-24 Monday afternoon — one that’s balanced and valued at $653,500.
Among its highlights, per EDC Executive Director Carter Hendricks:
— More than 80% of the budget income is confirmed and locked in place.
— Private contributions have increased 300% in the last two years.
— More than 20% of this year’s budgeted expenses will go toward marketing and industry leads. This includes aggressive site travel and site consulting in the next 12 months.
— And the continued search for private dollars, as Todd, Trigg and Christian EDC contributions for the moment remain locked in place.
Hendricks noted that SWK EDC dealt with 20-plus site visits in each of the past two years.
Furthermore, he added at the top of this year’s priority list includes the seeking of tenants for the Christian County and Trigg County spec buildings — both capable of housing major industry.
At the end of May, the EDC reported more than $635,000 in total expenses for fiscal year 2022-23 — with a total income just north of $627,000.
The 10 “Winners Circle” donors already contributing considerable dollars include Planters Bank, Higgins Insurance, Rogers Group, Pennyrile Electric, HWEA, Scott, Murphy & Daniel Building Construction Specialists, Denham Blythe, the Cadiz/Trigg County Economic Development Commission, the City of Hopkinsville, and Morgan Contractors.
In other SWK EDC news:
— The council voted in favor of once again naming Higgins Insurance’s Lee Conrad its chair, adding Pennyrile Electric’s Alan Gates as vice-chair, Planters Bank’s Elizabeth McCoy as treasurer and United Southern Bank’s Billy Bingham as secretary. Conrad alerted the group that this is his “two-year” warning, to laughs.
— Conrad, along with Eston Glover, opened Monday’s meeting with a moment of silence. It’s the first time the group had convened since the passing of Todd County industrial giant John Walton, who was a regular attendee, supporter and thinker for the monthly session.
— Former Christian County magistrate and long-time EDC servant Darrell Gustafson was honored for his 30-plus years of service, awarded a large wood-burning for his office.
— According to Hendricks and Todd County officials, the Guthrie Planning Commission recently approved plans for a 580-unit apartment complex, one that is to be built adjacent and annexed into the city limits. Population estimates indicate that if 2.5 persons move into and buy each apartment, the population of Guthrie doubles.
Todd County Judge-Executive Todd Mansfield and Glover each noted that all of the major housing ends at the Tennessee line, and that this is the first big offering “on the other side.”
— Among those joining the EDC’s ranks in the new fiscal year: Todd County’s Jeff Traughber, Christian County’s Philip Eastman and Christian County’s Don Pemberton, among others. They’ll attend a new board training July 17.