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Q: What drives Louisville's economy? ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: What drives Louisville's economy?
Category: Business and Money > Economics
Asked by: shikibobo-ga
List Price: $10.00
Posted: 10 May 2004 05:30 PDT
Expires: 09 Jun 2004 05:30 PDT
Question ID: 343970
What drives Louisville KY's economy? (Major industries, most important
business segments, huge employers, etc.)
Answer  
Subject: Re: What drives Louisville's economy?
Answered By: answerfinder-ga on 10 May 2004 06:29 PDT
Rated:5 out of 5 stars
 
Dear shikibobo-ga,

First, some general data from the Department of Labor Statistics.

Louisville, KY Economy at a Glance - March 2004, Labor Force Data

Civilian Labor Force (1)        553.7
Employment  (1)                 524.7
Unemployment (1)                 28.9
Unemployment Rate (2)             5.2

(1) Number of persons, in thousands, not seasonally adjusted
(2) In percent, not seasonally adjusted

Total Nonfarm (3)                         556.0 (P)

Construction and Mining (3)                28.0 (P)
Manufacturing (3)                          70.3(P)
Trade, Transportation, and Utilities (3)  121.8(P)
Information (3)                            10.8(P)
Financial Activities (3)                   37.0(P)
Professional & Business Services (3)       63.4(P)
Educational & Health Services (3)          71.7(P)
Leisure & Hospitality (3)                  52.7(P)
Other Services (3)                         30.0(P)
Government (3)                             70.3(P)

(P) Preliminary
(3) Number of jobs, in thousands, not seasonally adjusted

Source and previous years? data
http://www.bls.gov/eag/eag.ky_louisville.htm


The remaining information is from Greater Louisville Inc ? Metro
Chamber of Commerce. Some of the information is too detailed to place
here, so please access the various links.


Industry Sectors                          Facilities        Employees 
Agriculture, Forestry, Fish                  40                 545 
Mining, Construction                       3605              31,657 
Manufacturing                             1,539              87,838 
Transportation, Communication, Utility    1,293              42,861 
Wholesale Trade                           1,901              31,558 
Retail Trade                              4,467              69,385 
Finance, Insurance, Real Estate           3,265              40,529 
Services                                 13,668             234,043 
Government                                  N/A                 N/A
                                         29,778             538,416

Source:  County Business Patterns, 2001
http://www.greaterlouisville.com/content/ed/business/industry_sectors.pdf


Number of companies employing over 250 employees by sector

Agriculture, Forestry, Fish              0
Mining, Construction                     8
Manufacturing                            8
Transportation, Communication, Utility  21
Wholesale Trade                          8
Retail Trade                            31
Finance, Insurance, Real Estate         29
Services                                85
Government                             N/A

Source
http://www.greaterlouisville.com/content/ed/business/size_of_establish.pdf

Top Private Sector companies including information on product/service
& no. of employees
http://www.greaterlouisville.com/content/ed/business/top_private.pdf

Top FIRE companies (banking, finance and real estate)
http://www.greaterlouisville.com/content/ed/business/top_fire.pdf

Top 10 distribution companies
http://www.greaterlouisville.com/content/ed/business/top_dist.pdf

Top manufacturing companies
http://www.greaterlouisville.com/content/ed/business/top_mfg.pdf

New companies 100+ employees
http://www.greaterlouisville.com/content/ed/business/new_to_area.pdf


Well known and establish companies -

FORTUNE 500 HEADQUARTERS 
Humana Inc. (159) 
YUM! Brands, Inc.  (245) 
Kindred Healthcare (479) 
Fortune, April 5, 2004 
 
INC. 500 COMPANIES 
J. C. Malone Associates (467) 
Inc., 2003 
 
BLACK ENTERPRISE  INDUSTRIAL/SERVICE 100 
Manna Inc. (25) 
Black Enterprise, 2003

and additional information on the region's economy
http://www.greaterlouisville.com/content/ed/business/rankings.pdf


I hope this answers your question. If it does not, or the answer is
unclear, then please ask for clarification of this research before
rating the answer. I shall respond to the clarification request as
soon as I receive it. I also hope that the formatting of this answer
is easy to read.
Thank you
answerfinder

"Louisville economy"
://www.google.com/search?q=%22Louisville+economy%22&hl=en&lr=&ie=UTF-8&oe=UTF-8

Request for Answer Clarification by shikibobo-ga on 12 May 2004 14:27 PDT
The question is "What *drives* Louisville's economy?"  I am looking
for some commentary, analysis, or interpretation. Thank you.

Clarification of Answer by answerfinder-ga on 13 May 2004 01:03 PDT
The main economy is varied, but is slowly changing to one based on
transportation and distribution, service industries and retail.
Manufacturing jobs are still disappearing. Many commentators remark on
the lack of professional workers in the work force and the lack of
blue-collar jobs.  The established of United Parcels Service at
Louisville's International Airport, has had a profound positive effect
on the local economy and is described as a boon to Louisville?s
distribution and logistics industries. Improved logistics has
encouraged health care companies to establish in the area. UPS is  the
largest employer with 20424 employees. Manufacturing, though
declining, is a source of high income. Largest employers are Ford,
9807 employees, and GE Consumer Products, 5800 employees.


Sources include those detailed above, and:
University of Louisville - Report on the economy 2000
http://monitor.cbpa.louisville.edu/region/region.htm
http://monitor.cbpa.louisville.edu/region/MEPI2000combined.pdf


Comprehensive news article titled "Louisville sets sights on economic
recovery" - 26.12.03
"The economy is getting stronger, and employers are hiring again.
[...] Although overall Louisville-area employment is improving,
manufacturing jobs continue to disappear at a rate of more than 1,000
per month. [...] Earlier this month, a job fair sponsored by Bank One
attracted more than 500 people and resumes for 100 new jobs at its
Louisville processing operations. [...] Whole Foods Market ? a
Texas-based chain that plans to open its first Kentucky store near
Mall St. Matthews in February ? interviewed about 300 job candidates
and hired about 100, said marketing specialist Erin Jones. [...]"There
are more service and retail-oriented jobs, less blue-collar jobs, and
that will continue," he said, adding that the Jefferson County work
force is becoming more female, more skilled, older and more diverse.
[...] Strong areas for jobs include health-care and financial
services, she said, but for jobs that pay more than $40,000, "you'll
have to work at it."
http://www.courier-journal.com/localnews/2003/12/26ky/wir-front-econ1226-11611.html

"The presence of United Parcel Service at Louisville's International
Airport offers another important advantage. As the area's largest
employer, UPS is a mainstay of the local economy. Distribution,
manufacturing and repair operations have discovered that locating near
the UPS gives them a leg up on their competition"
http://www.leveinteam.com/l_welcome-louisville-shelbyville-oldham-county-kentucky-real-estate.asp


"Greater Louisville gained about 75,000 new jobs between 1989 and
1996. Unemployment has remained low and the local economy continues on
a path of moderate but steady growth. Healthcare and the diverse
manufacturing base have revitalized the area and brought 140 new
employers here since 1989.
The main contributors to this economic mini-boom have been United
Parcel Service, Greater Louisville's largest private employer; Ford
Motor Co., which employs over 10,000 people, continues to expand its
Kentucky Truck plant in eastern Jefferson County; and a steadily
expanding healthcare sector.
UPS, which operates its main U.S. air hub out of Louisville
International Airport, now employs more than 21,000 workers in Greater
Louisville. The company recently announced plans to build its $860
million mega-hub air-cargo terminal here. UPS has also attracted a
number of distribution and electronic repair firms to the area over
the past three years.
Ford announced in late 1997 that it would expand its Louisville
operations by adding 1,000 jobs and 130,000 square feet to the
Kentucky Truck Plant. The expanded facility, at 4.7 million square
feet, will be the largest Ford assembly plant in North America."
http://www.relospec.com/jobs.html



I trust this additional information now answers your question.

answerfinder-ga
shikibobo-ga rated this answer:5 out of 5 stars
Thanks!

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