SOKY Economic Development and Business News

April 10, 2023

Vol. 1, Issue 11

Content Compiled from Various Sources

Houchens Industries acquires

Feeders Pet Supply

Houchens Industries (“Houchens”), one of the largest and most diversified wholly owned S Corp ESOPs in the United States, announced today that it has acquired Feeders Pet Supply (“FSP” or the “Company”). 


FSP, based in Louisville, Kentucky, is a leading and rapidly growing omnichannel pet specialty retailer.  The Company operates under the names of Feeders Pet Supply and Chow Hound Pet Supplies across six different states.  The Company sells pet food, supplies, and services through its emerging e-commerce platform in addition to its 58 brick and mortar locations spread across Michigan, Indiana, Ohio, Kentucky, Tennessee, and North Carolina.  FSP’s customer loyalty program is quickly approaching one million members who enjoy the opportunity to set up monthly subscriptions for their pet food delivery in addition to visiting the many retail locations.  The Company has experienced steady growth since its founding in 1959. That growth accelerated in 2016 when PNC Riverarch, based in Pittsburgh, Pennsylvania acquired the majority ownership.  Now, the Company has entered into an agreement to sell 100% of the company to Houchens as a pathway for their employees to share in not only the ownership and success of FSP, but the ownership and success of Houchens.


-Houchens Industries

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The DeCesare Group Podcast: New Episode Available!


The first episode of The DeCesare Group Podcast was well received, and we're excited to announce our next guest, Richie Sanders.

 

Richie spent 18 years in the Kentucky General Assembly and has served

as Economic Development Director for Scottsville–Allen County, worked with

Kentucky Transportation Cabinet, the Kentucky Economic Development Cabinet, the

Kentucky Department of Local Government, the Tennessee Valley Authority, and

the Laura Goad Turner Foundation.


In this episode, Jim DeCesare sits down with Richie Sanders and together, discussed the 2023 legislative session. 

Listen Now

WoodSpring Suites coming to Bowling Green


Extended stay is here to stay in the Bowling Green lodging landscape.


Less than four months after David Chandler announced plans for an extended-stay SpringHill Suites by Marriott in his The Hub development along Lovers Lane, Pennsylvania-based Posh Properties has begun work on a 122-room WoodSpring Suites hotel near Cumberland Trace Road and Scottsville Road.


-Don Sergent, Bowling Green Daily News

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2024 Presidential Candidate to Headline Southern Kentucky Lincoln Day Dinner


The latest addition to the 2024 presidential primary field will keynote a Lincoln Day Dinner in Warren County later this month.


Former Arkansas Gov. Asa Hutchinson, who announced his candidacy on Sunday, is the first 2024 presidential candidate to appear in the bluegrass state. He will address Republicans on April 14th at the National Corvette Museum in Bowling Green.


-Kentucky Fried Politics

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O-I prepares to break ground on $240 million US facility


O-I prepares to break ground on its glass manufacturing facility in Bowling Green, Kentucky, US.


Last year, O-I unveiled its plans to build a $240 million greenfield facility in the US.


The investment will be O-I’s first facility in nearly two decades and the first purposely built for its MAGMA technology.


The plant is expected to set new standards in sustainable glass manufacturing by using renewable electricity, gas-oxy fuel and other innovative solutions.


Groundbreaking will take place at the site on April 14th.


-Jess Mills, Glass International

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A labor market cooldown: US economy added just 236,000 jobs in March


US employers added just 236,000 jobs in March, coming in below expectations and indicating that the labor market is cooling off amid the Federal Reserve’s yearlong rate-hiking campaign to chill inflation.


The unemployment rate dropped to 3.5%, according to the March jobs report released Friday by the Bureau of Labor Statistics.


Economists were expecting a net gain of 239,000 jobs for the month and a jobless rate of 3.6%, according to Refinitiv. This is the first jobs report in 12 months that came in below expectations.


-Alecia Wallace, CNN

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