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A
Good
morning,
ladies
and
gentlemen,
I
know
my
watch
says
it's
just
a
little
bit
after
nine
o'clock.
We
do
have
a
number
of
members
joining
us
online
as
well.
When
I
first
looked
out
it
looked
kind
of
sparse
in
here
I
guess,
but
I
was
reminded
how
many
members
are
online.
So
that's
good
great
to
see
everyone
here
this
morning
for
our
first
interim
committee
meeting
of
the
2021
interim
session.
A
H
A
Great
thank
you,
members
for
joining
us
today.
I'm
excited
about
the
agenda
to
kick
us
off
for
the
interim
session.
Just
a
reminder,
I
think
by
now.
Everyone
knows
this,
but
lrc
is
monitoring
the
chat
function.
A
So
if
you
have
any
questions,
just
type
it
in
there
and
they
can
notify
me
we'll
probably
hold
questions
until
the
very
end
of
the
presentation.
That
would
be
my
preference
today.
A
I
think
lrc
is
going
to
be
able
to
remotely
mute
your
mic,
but
if
you
would
please
also
just
do
it
as
a
precaution,
so
we
don't
have
to
worry
about
that.
A
reminder.
Meeting
materials
are
on
the
lrc
website,
not
just
for
members,
but
I
believe
for
the
public
as
well
and
with
that
welcome
mr
secretary,
if
you
want
to
kick
us
off,
introduce
yourself
and
your.
H
H
Sorry
there
we
go.
Thank
you.
Thank
you.
Sorry
yeah
chairman
schroeder
and
chairman
weber,
thanks
a
bunch
for
the
opportunity
to
be
here
today.
It's
been
an
interesting
a
little
over
a
year,
so
we'll
we'll
kind
of
recap.
Part
of
that.
But
let
me
tell
you
sitting
to
my
left-
is
jeff
taylor,
commissioner
of
business
development
in
the
cabinet
and
commissioner
katie
smith,
who
has
been
there
for
how
many
years
now
katie
17
years
so
she's
a
veteran.
H
She
is
dealing
with
financial
incentives
and
a
number
of
other
things
in
the
cabinets
really
invaluable
to
the
commonwealth
and
bringing
that
knowledge
and
what
she's
done
you
know,
tony
ellis,
who
is
our
legislative
liaison,
and
many
of
you
all
have
worked
with
in
the
past,
he's
also
our
general
counsel
and
he's
also
in
charge
of
some
of
what
used
to
be
called
the
new
economy
programs.
But
you'll
learn
more
about
that
deputy
commissioner,
christina
slattery
who
works
in
business
development
with
commissioner
taylor
and
they'll
all
have
a
piece
of
this.
H
H
H
I
mean
all
the
different
ways
that
we
learned
how
to
communicate
and
for
a
month
or
two
scared
me
to
death,
because
I
always
had
somebody
doing
that
for
me
if
I
needed
to
be
on
one
of
those
sites
and
attend
those
meetings.
So
lo
and
behold
much
to
my
grandchildren's
surprise,
I
learned
how
to
manage
that
myself
and
I'm
sure
some
of
you
all
have
had
the
same.
Had
the
same
opportunity
to
to
increase
your
activity
on
the
web.
2020
has
been
really
an
interesting
journey
for
the
cabinet.
H
We
worked
for
weeks
in
the
beginning
of
this
pandemic,
talking
with
all
the
major
employers
in
the
state
who
wanted
to
be
declared
essential,
which
allowed
them
to
keep
operating
and
so
forth.
We
became
the
point
of
information
for
the
governor's
office
as
their
team
in
the
beginning
of
managing
something
that
was
unprecedented
with
the
pandemic.
H
H
You
know
our
communications
people
were
almost
totally
dedicated
at
that
point,
to
supporting
the
efforts
out
of
the
governor's
office
now
the
cabinet
for
health
and
family
services
in
their
efforts
in
communicating
as
it
related
to
the
pandemic.
So
we
really.
It
was
an
unusual
few
months
for
us.
At
the
same
time,
we
were
taking
care
of
business.
H
We
learned
how
to
use
those
tools
that
are
referred
to
before
and
rather
than
making
visits.
Personally,
we
were
able
to
maintain
contact
and
continue
with
those
projects
that
we
had
in
the
pipeline
and
develop
them
and
really
on
board
new
opportunities.
First,
two
or
three
months
there
weren't
a
lot
of
new
opportunities.
H
Now
that
doesn't
replace
for
those
like
me,
it
doesn't
replace
the
in
person
being
able
to
get
to
know
the
people
and
understand
the
project
and
when
we
get
down
to
actually
negotiating
with
them,
it
still
is
much
preferable
to
be
doing
that
in
person,
but
we
were
able
to
continue
to
develop
that
pipeline
and
what
you're?
Seeing
now,
when
you
look
at
the
trends,
I've
never
seen
in
quite
some
time
being
involved
off
and
on
in
this
business.
I've
never
seen
projects
of
the
size
that
we
have
available.
H
Now
I
mean
we
have
projects
they're
working
on
that
are
multi-billion
dollar
projects.
You
know
and
some
are
working
with
a
consultant.
Some
we're
working
with
the
companies
directly
and
the
the
a
project
like
that
before
would
take
a
long
time
to
develop
and
you'd
be
dealing
with
it
for
a
long
period
of
time.
Another
thing
that's
changed.
H
Another
trend
that
we're
seeing
is
time
to
market
there's
a
tremendous
feeling
that
the
market
needs
more
of
whatever
it
is
they're
trying
to
get
to
and
any
lost
time
to
getting
to
that
market
is
a
lost
opportunity
in
lost
real
dollars.
So
we've
got
companies
that
are
are
quickly
making
a
capital
investment
decision
and
then
they're
wanting
to
get
moving
as
quickly
as
they
can
so.
The
rapidity
of
of
those
projects
and
how
we
have
to
deal
with
them
is
something
that
is
is
really
noticeable.
H
We've
got
not
only
is
are
the
size
of
the
projects.
H
Many
of
the
projects
interesting
we've
got
a
bunch
of
companies
that
are
existing
companies,
where
here
again,
that's
where
our
greatest
number
and
greatest
increase
in
jobs
and
investment
comes
from
on
a
yearly
basis.
Existing
companies
expanding
so
we're
working
with
the
existing
companies
and
it
may
not
mean
a
lot
of
new
jobs,
but
what
it
will
mean
is
they
are
committing
large
sums
of
money
to
be
able
to
to
compete
in
what
they
view
as
the
new
market
for
them.
H
What's
it
going
to
look
like
in
that
competitive
environment
in
the
business
that
they're
in,
in
some
cases,
you're
trying
to
determine
what
business
we're
in?
We
all
know
that
we
have
a
significant
automotive
sector
that
automotive
sector.
What's
it
going
to
look
like
in
the
future,
dealing
with
many
different
oems,
the
original
equipment
manufacturers
in
that
industry
they're,
not
exactly
they're,
not
exactly
sure.
Most
of
them
are
betting
on
the
electrification
and
committing
their
future
capital
in
that
direction.
H
Yet
there's
still
a
lot
of
strides
being
made
in
the
battery
technology
and
so
forth,
but
I
think
there's
a
general
consensus
that
we're
moving
in
that
direction.
I
mean,
when
general
motors
says,
they're
not
going
to
make
any
more
cars
other
than
evs
after
2030.
That's
a
pretty
significant
statement,
so
some
are
working
on
hydrogen
technology.
The
other
thing
about
the
automotive
industry.
We
used
to
be
critical
to
automotive
alley
and
we've
got
a
plethora
of
suppliers
that
have
joined
and
we've
got.
You
know
we're
a
straight
shot:
north
and
south.
H
We
can
get
up
to
detroit,
where
you
know
the
traditional
automotive
industry
was,
but
the
competitors
now
for
a
lot
of
these
projects.
We've
never
competed
when
I
was
here
before
with
new
mexico
or
arizona
or
but
that
whole
industry
is
is
changing.
Our
competition
remains
many
of
the
same
ones,
we've
always
competed
with,
but
it's
not
just
us
competing
against
tennessee
or
whatever
those
states
in
the
west
for
a
number
of
different
reasons.
H
Sustainability
is
on
every
large
corporation's
capital
projects
agenda.
They
want
to
know
if
they
can
achieve
sustainability
at
100
percent
at
x
number
of
years,
and,
of
course,
that
creates
discussions.
We
have
with
our
utilities,
partners
and
our
utility
partners.
You
know
that's
a
significant
capital
investment
for
them,
so
their
the
competitive
environment
for
us
has
really
changed.
H
We,
we
do
have
a
robust,
robust
pipeline
that
we've
developed
you'll,
hear
more
about
that
today,
commissioner
taylor,
in
just
a
minute,
we'll
we'll
talk
about
kind
of
give
you
a
snapshot
of
where
we
have
been
the
current
year,
but
it's
really
what
direction
we're
heading!
That's
really
important
and
we're
all
going
to
have
to
look
at
things
like
workforce.
H
There
is
no
one
easy
answer
to
that:
either
internal
or
external.
When,
when
we
inbound
our
people
again,
which
we've
done
this
week
at
the
cabinet,
we
have
to
look
at
what
we've
learned
and
how
we've
created
the
opportunity
to
do
business
remotely
at
least
impartially
and
we've
got
to
look
at
our
workforce.
That
says
you
know
we
need
to
have
some
flexibility.
H
You
know
no
longer
do
I
need
to
be
standing
at
the
door
at
eight
o'clock
in
the
morning
five
mornings
a
week
and,
to
some
extent
that's
that's
an
exaggeration
because
number
one.
I
may
not
be
there
at
eight
o'clock
in
the
morning,
but
really
ours
is
a
professional
staff
and
we
treat
them
like
professionals
and
the
proof
is
in
the
pudding.
But
I
think
in
order
to
attract
talent-
and
this
is
a
very
real
issue
for
the
private
sector
as
well
as
the
public
sector.
H
As
we
move
forward,
we've
got
to
create
and
present
an
environment
where
you
can
get
the
very
best
talent
and-
and
you
can
retain
that
talent.
All
that
being
said,
the
availability
of
the
workforce
we've
got
a
lot
of
fundamental
problems
across
the
state
that
we
really
need
to
take.
A
deep
dive
in
the
governor
had
a
meeting
the
other
day,
and
I
know
there's
another
one
tomorrow
morning
that
I'm
being
involved
in
internally
and
it's
not
just
about
the
same
tools
that
we've
always
used.
H
H
H
Are
we
increasing
that
population
or
is
that
population
going
to
decrease
in
the
future?
You
know
we've
got
to
look
at
ourselves
and
really
really,
I
think,
take
a
long-term
view.
It's
not
any
one
thing.
That's
going
to
change
that
so
anyway,
I
will
stop
and
a
commissioner
I'm
going
to
turn
it
over
and
let
you
tell
them
where
we've
been
and
look
forward
to
the
questions
you
all
might.
G
H
G
Thank
you
secretary,
hayes
good
morning,
chairman
schroeder,
chairman
weber,
good,
to
see
you,
gentlemen.
Good
morning.
All
the
legislators,
both
president
and
those
that
are
remote
pleasure
to
be
with
you
face
to
face,
have
some
good
news
to
share
with
you.
A
research
team
tells
me
that
we
are
seeing
the
most
project
activity
in
our
pipeline
since
march
of
2017..
G
This
activity
has
allowed
us
to
assist
with
50
projects
you
heard
chairman.
I
mean,
I
beg
your
pardon.
You
heard
secretary
hayes
talk
about
existing
industries
versus
new
locations
with
50
of
those
out
of
those
50
of
those
projects.
27
have
come
from
existing
industries
23
from
new
locations,
something
that
is
a
little
different
this
year,
however,
is
the
bulk
of
jobs
and
capital.
Investment
have
come
from
the
new
locations
on
the
average
hourly
salaries,
we're
at
23
dollars
an
hour
a
little
more
than
23
hours.
G
That's
the
highest
number
we've
seen
in
the
last
seven
years.
We're
only
number
two
this
year
compared
to
2019
and
the
2019
numbers
are
skewed
a
bit.
If
you
see
the
asterisk
at
the
bottom
of
the
slide,
that
includes
ups,
pilots,
announcements,
1000
jobs
at
70
and
average
hourly
wage,
so
that's
a
little
different
next
slide.
Please.
G
We
talked
about
our
industry
segments
just
a
little
bit,
but
before
I
do
that
you
again,
you
heard
secretary
haste
talk
about
this.
I
want
to
talk
a
little
bit
about
some
of
the
trends
we're
seeing,
especially
in
the
automotive
area
in
the
renewable
area,
the
ev
battery
area,
they're,
huge
projects
and
again
you
heard
secretary
hayes,
say
that
they're
multi-billion
dollar
projects
two
thousand
to
four
thousand
jobs.
G
The
issue
that
we
have
there
is
they're
all
looking
for
what
we
call
mega
sites,
they're
very
large
sites,
they're
shovel
ready.
They
have
the
permitting
in
place
to
move
very
quickly.
We
don't
have
many
there's
a
shortage.
We
have
a
very
good
one
in
elizabethtown
called
the
glendale
site.
When
I
leave
here
today,
I'm
going
to
ohio
county,
we
have
a
mega
site
there,
it's
1,
000
acres,
it
has
a
390
000
square
foot
pad
that
is
shovel
ready.
However,
we
have
an
issue
with
electricity
right
now.
G
The
electrical
provider
tva
can
do
nine
megawatts
in
one
year.
That
site
needs
a
lot
more
and
they're
telling
us
it
would
take
four
years
to
get
it
where
we
need
it
to
be
to
make
it
competitive.
So
I'm
going
down
to
meet
today
with
kim
lawson
and
five
county
judges
that
are
over
that
part.
We
have
to
get
sites
ready,
not
just
mega
sites
but
sites
in
general.
It's
a
problem,
the
thing
with
these
big
industries
when
they
come
to
visit.
They
just
expect
that
you're
going
to
gift
these
sites.
G
They
they
just
expect
it
because
everybody
else
is
doing
it
to
talk
about
the
other
markets.
You
will
see
that
medals
leads
the
way
in
both
jobs,
announced
and
capital
investment,
followed
by
automotive,
food
beverage,
agritech
distribution
and
logistics,
and
then
plastics
and
rubber.
But
after
medals
you
see
that
things
sort
of
swap
out
and
just
my
humble
opinion
on
the
food
and
beverage
portion
of
that
on
the
announcements
and
investment.
Well,
food
and
beverage
is
immune
to
global
competition.
G
C
Projects,
thank
you
good
morning,
christina
slattery,
so
on
the
screen
here
you
see
a
few
different
case
studies
of
projects
that
we
have
been
able
to
announce
over
the
the
last
year
and
really
what
we
want
to
illustrate
here
is
the
diversity
of
the
projects
that
we
are
working.
C
You
know
within
what
you're
looking
at
here
you've
got
diversity
amongst
the
the
ownership,
so
you
know
canadian-owned
german-owned.
We
see
you
know
foreign
direct
investment,
despite
what
we
have
been
through
continues
to
be
strong
for
us.
You
know
you
also
see
diversity
in
industry,
so,
for
example,
krueger
packaging,
a
project
that
we're
really
excited
about
will
make
a
hundred
percent
recyclable
boxes
and
container
board
versus
chapin
and
mount
vernon,
which
is
doing
air.
You
know
air,
sprayers
and
and
plastic
parts.
C
Chapin
is
an
example
of
a
of
a
company
that
not
only
do
they
make
air
sprayers,
but
they
made
the
pumps
and
the
mechanisms
for
hand
sanitizers,
so
that
project
move
really
quickly
and
is
one
that
we
saw
really
as
a
boom
due
to
covid.
You
know,
diversity
also
comes
in.
You
know
what
what
type
of
entity
do
you
have
operating
in
kentucky?
C
So
if
you
look
at
vlan
north
america,
that
project
was
interesting
because
we
got
the
opportunity
to
compete
for
their
headquarters,
which
located
in
louisville
and
then
a
few
months
later
were
able
to
announce
their
copper
facility
in
at
the
norfolk
southern
side
in
shelbyville.
So
this
really
proves
to
us
that-
and
we've
heard
this
from
from
companies-
that
we
can
attract
different
types
of
talent.
We've
got
what
we
need
for
these
companies
to
feel
good
about
attracting
manufacturing,
talent
and
technical
talent
as
well.
C
So
these
are
sort
of
your
you
know
some
examples
of
some
of
some
top
projects.
We've
announced
and
one
other
I'll
highlight
before
we
transition
over
to
tony
ellis
firestone
industrial
products.
We've
talked
a
lot
about
electrification
today,
and
we
are
always
thinking
about
how
does
this
impact
the
automotive
industry?
How
does
that
ripple
throughout
kentucky?
How
does
that
affect
our
suppliers
and
and
the
customers?
You
know
firestone's
an
example
of
a
company-
that's
been
in
williamsburg,
for
you
know,
since
I
believe
the
early
80s
and
their
automotive
air
springs.
C
This
expansion
is
completely
tied
to
electrification
and
making
those
air
springs
to
to
handle
the
heavier
load
of
you
know.
A
battery-powered
vehicle
and
they've
got
a
contract
with
with
a
large
oem
that
that
they're
going
to
be
working
with.
So
these
are
again
some
of
the
more
traditional
economic
development
projects
that
you
that
you
may
see,
but
we
also
have
a
lot
of
activity
in
our
small
business,
startup
and
entrepreneurship.
C
F
Morning,
everyone-
I
will
echo
what
commissioner
taylor
and
secretaries
and
everyone
has
said.
Thank
you
so
much
for
allowing
us
the
opportunity
to
be
here
and
talk
to
you
a
little
bit
about
what's
going
on
anybody.
Who's
talked
to
me
previously
about
the
entrepreneurial
sector
knows
that
I
believe
strongly.
Kentucky
is
positioned
for
great
things
and
great
growth
in
our
entrepreneurial
and
startup
sectors.
I
really
like,
where
we're
positioned
and
what
we're
seeing
on
the
ground
right
now.
F
The
timing
is
is
now
you
know
there
is
a
highly
competitive
marketplace
for
tech,
talent
and
people
and
resources,
because
people
that
have
these
skills
can
work
anywhere
in
the
world.
Remote
work
has
opened
that
up,
so
many
of
those
companies
are
now
providing
them
with
various
job
structures
that
allow
them
to
set
up
shop
anywhere
from
harlan
to
pikeville.
To
you
know
the
valley
in
california,
and
as
resources
are
spreading
and
opportunities
are,
are
growing.
F
There
is
a
huge
competition
among
the
midwest
and
the
southern
states
for
these
coastal
talents,
and-
and
these
folks
can
really
change
the
game.
You
know
salesforce,
just
in
indianapolis
changed
the
nature
of
that
city.
Both
the
amount
of
money
that
came
into
the
state
for
investment
in
indiana,
if
we
land
one
of
those
companies,
it
could
be
a
game
changer
for
kentucky.
Well,
how
do
you
do
that?
Well,
we
need
to
make
somewhere
that
they
want
to
be.
F
We
need
to
create
an
environment
within
the
startup
community
that
people
that
can
work
anywhere
want
to
work
and
live
in
kentucky.
We
think
we're
doing
that.
We're
pretty
excited
about
where
things
are.
We
started
with
a
holistic,
statewide
approach,
really
taking
advantage
of
all
of
the
opportunity,
resources
and
programs
that
exist
around
the
state,
many
of
whom
had
never
talked
to
each
other
and
I'll
talk
a
little
bit
more
about
that
on
the
next
slide,
but
that
kind
of
collaboration
is
allowing
ideas
to
spread
promoting
efficiencies,
so
we're
not
duplicating
resources.
F
I
mean
we're
not
a
wealthy
state.
We
don't
have
as
many
resources
as
some
of
our
peer
states
around
entrepreneurship.
We
need
to
be
smart
about
how
we
use
them
and
also
we
need
to
hold
all
of
our
organizations
and
the
entrepreneurial
support
or
community
accountable,
so
we
instituted
for
the
first
time
a
series
of
data
and
metrics
across
all
of
our
programs.
We
want
to
be
very
transparent
with
you
and
the
entire
community.
F
You
will
know
how
we're
doing
quarterly,
because
we're
gonna
post
those
numbers
and
how
we
track
it,
and
that
way
we
can
make
adjustments
as
we
go
forward
to
see.
What's
working
and
what's
not
working
now,
I
can
tell
you
one
of
the
things
that
we're
very
excited
about
and
as
we're
looking
at
the
data
is.
This
is
an
area
where
you
really
leverage
your
resources
for
every
dollar.
You
give
us
we're
gonna,
hopefully
produce
at
least
10
back
in
terms
of
private
sector.
F
Apparently,
everybody's
very
excited
about
that,
and
I
am
too
we're
we're
able
to
return
dollars
on
that
investment,
and
that's
why
these
are
great
areas
to
put
state
dollars
and
public
funds
we
started
marketing
directly
outside
you
know.
We
need
to
think
creatively
what
are
our
opportunities
here
since
everybody's
looking
at
the
same
thing
we're
targeting
international
startups
people
that
look
like
they're
going
to
open
an
office
in
america
and
really
don't
know
where
they're
going
to
start?
F
Why
not
kentucky
it's
a
great
place
to
set
up
shop
because
of
all
the
advantages
that
we
have
in
the
state
and
the
people
that
we
have
in
the
state
and
our
energy?
So
through
a
partnership
with
the
kentucky
chamber,
the
governor
launched
the
discover
kentucky
initiative,
which
is
a
direct
outreach
program,
and
we've
got
some
ideas
and
things
that
we're
thinking
about
that
can
even
bolster
that.
F
We've
also
got
strong
support
for
our
traditional
main
street
businesses,
which
are
the
backbone
of
our
economy.
The
three
main
things
that
that
we
provide,
in
addition
to
being
just
a
contact
point
to
help
navigate
the
federal
infrastructure.
Is
the
commission
on
small
business
advocacy
and
innovation?
We
changed
the
name.
You
changed
the
name
this
year
to
add
innovation
to
that,
because
it's
really
important
that
we
provide
a
resource
that
allows
main
street
businesses
to
access
innovation
opportunities.
F
The
ssbci,
which
is
the
collateral
support
program,
a
federal
program
which
commissioner
smith
is
going
to
talk
a
little
bit
more
about
later,
has
been
very
successful,
providing
them
capital
and
resources
to
grow,
and
you
know
sustain
their
workforce
and
commit
and
they've
already
got
roots
here.
We
want
to
keep
them
here
and
kyp
tech
is
a
program
that
I
am
shocked.
More
people
don't
know
about.
F
We
have
a
free
program
that
helps
every
business
in
the
state
for
free,
develop
their
ability
to
land
government
contracts
at
the
state,
local
and
federal
level.
The
program
in
kentucky
run
through
a
partnership
with
the
kstc.
The
kentucky
science
and
technology
corporation
is
a
nationally
recognized
program.
The
federal
government
takes
the
people
in
kentucky
that
run
this
and
ask
them
to
train
other
states,
because
the
program
has
been
so
successful.
I'm
going
to
jump
to
the
next
slide.
F
I
think
I'm
probably
running
over
my
time
a
little
bit
so
I'll
go
a
little
bit
quicker.
How
do
we
support
entrepreneurship?
We
have
multiple
tracks,
but
the
main
track
we
have
is
regional
partnerships.
F
We
have
a
number
of
public-private
partnerships
in
the
entrepreneurial
sector
and
we
provide
them
grants,
put
metrics
and
accountability
standards
and
have
them
work
together.
There
are
six
around
the
state
we
added
bowling
green
last
year
could
not
be
more
excited
that
we
we
have.
I
don't
know
if
any
of
you
are
aware
of
how
amazing
bowling
green
is
in
the
entrepreneurial
sector,
but
they
have
an
organization
there
that
that
every
single
person
in
the
state
should
be
proud
of
with
crick.
F
When
everybody's
talking
about
what
are
we
gonna
do
with
malls
or
strip
malls
and
everything
else,
they
have
turned
it
into
a
nationally
recognized
entrepreneurial
center,
which
most
people
don't
know
about.
I
had
the
pleasure
of
visiting
with
their
executive
director
recently.
I
could
not
be
more
excited
about
what's
happening
and
we
could
not
be
more
excited
to
have
them
as
a
part
of
our
community.
Those
entities
and
they're
they're
listed
here
provide
direct
on-the-ground
support
for
startups
and
entrepreneurs.
F
I
tell
everybody
our
job
is
to
make
it
as
easy
as
possible
to
be
a
small
business
owner
and
entrepreneur,
because
those
folks
put
everything
on
the
line
to
grow
businesses.
So
you
know
we
have
a
customer
service
approach.
We
really
like
how
they're
coming
together.
I
do
want
to
point
out
on
the
sheet.
Awesome.
Inc
is
lexington,
but
it's
actually
lex
gives
first
every
one
of
these
entities
that
you
see
here
actually
partnerships
with
leaders
within
the
community,
and
that
was
critical
for
how
we
thought
we
would
provide
services.
F
The
second
way
we
provide
services
is
through
the
kentucky
science
and
education
foundation,
our
engineering
foundation,
kcf,
it's
managed
by
the
kentucky
science
and
technology
corporation.
There
are
two
primary
things
that
it
does.
One
is
sbir
sttr
grants.
Thank
you
so
much.
You
changed
the
law
this
year
and
made
it
so
much
easier
for
kentucky
to
participate
in
the
sbr
sttr
federal
government
grant
program.
That
is
the
main
way
that
they
deliver
dollars
for
small
businesses
and
universities
to
commercialize
technology
and
because
of
the
way
our
fiscal
year
is
structured.
F
F
The
second
way
that
we
do
this
is
through
kentucky
commercialization
ventures,
which
is
the
in
university
entrepreneurship
and
commercialization
work.
We
created
a
first
in
the
nation,
statewide
tech
transfer
office
with
all
22
of
our
regional
public
education,
universities
participating.
This
is
a
huge
deal.
We've
got
programs
in
research
coming
out
of
eastern
kentucky
university.
F
That
is
some
of
the
best
in
the
nation
and
for
the
first
time
we
are
giving
them
access
to
a
free,
statewide
tech
transfer
office,
we're
also
creating
a
legal
clinic
so
that
every
entrepreneur
in
the
state
has
access
to
a
virtual
legal
clinic
in
partnership
with
the
law.
Schools
very
excited
about
that
and
we're
thinking
creatively.
So
we
looked
at
the
numbers
and
it
turns
out
that
kentucky
is
not
getting
a
lot
of
department
of
defense
dollars
in
terms
of
sbi
or
sttr,
which
is
crazy.
F
Given
that
that's
where
all
the
money
is
so
we
started
for
the
first
time
a
department
of
defense,
sbir,
sttr
accelerator.
We've
got
13
companies
in
it
with
the
goal
that
we're
going
to
build
out
that
network
build
those
relationships
and
start
landing
more
of
those
things
because
with
the
dod
sbir,
you
don't
just
get
the
research
funding,
but
when
it
works,
they
buy
it
from
you
and
they
give
you
a
contract.
F
F
Funding
every
state
in
the
nation
has
an
investment
fund
where
they
invest
directly
in
startups
across
the
state.
They
use
it
as
a
recruitment
tool
to
bring
startups
from
other
areas
here
through
equity
investments,
and
they
use
it
as
a
tool
and
opportunity
to
grow
their
own
startups.
We
have
two
different
funds:
the
kentucky
enterprise
fund,
which
is
managed
in
partnership
with
kstc
and
commonwealth
seed
capital.
We
are
working
with
the
organizations
to
change.
They
haven't
changed
in
20
years,
but
we're
making
them
adopt
best
practices
they're
fully
on
board.
F
With
this
we're
very
excited
about
the
direction
those
funds
are
going.
F
In
addition
to
that,
you
brought
back
the
angel
investment
and
fund
tax
credits-
everyone
in
the
community,
thanks
for
that
we're
rapidly
flying
through
those
tax
credits
and
really
appreciate
you
bringing
them
back.
If
anybody
has
any
questions
or
want
to
talk
any
more
about
this,
I
could
talk
all
day.
F
I
Good
morning,
I'm
glad
to
be
here
to
give
you
an
update
kind
of
on
our
incentive
programs.
As
you
know,
we're
always
looking
for
ways
to
improve
our
processes
and
modernize
our
tools
to
help
economic
development
projects.
Here
in
kentucky
and
thanks
to
your
help
earlier
this
year,
it
is
I'm
sorry
to
earl's
help.
Earlier
this
year
we
were
able
to
get
some
updates
and
improvements
to
to
our
programs.
I
I
don't
know
if
many
of
you
know
our
most
popular
tool
is
our
kentucky
business
investment
program.
We
call
it
the
kbi
program,
it's
focused
on
new
job
creation
and
new
investment
here
in
kentucky.
We
also
have
our
kentucky
reinvestment
act,
which
is
kra.
It's
focused
on
job
retention
and
also
reinvestment.
I
Both
of
these
programs.
We
amended
the
definition
of
full-time
employee
in
the
the
session
earlier
this
year
to
allow
for
remote
employees.
As
we've
talked
about
the
pandemic,
we
feel
like
a
lot
of
companies
are
going
to
be
switching
to
remote
workers
and
hybrid
schedules,
and
we
want
to
be
able
to
accommodate
those
in
our
incentive
programs
so
to
qualify
as
a
remote
worker.
I
You
have
to
be
a
full-time
employee,
working
35
hours
a
week
and
you
have
to
be
a
kentucky
resident
and
the
employee's
payroll
has
to
be
expensed
to
the
project
here
in
kentucky
something
else
we
did
with
ural's
assistance.
Is
we
aligned
all
of
our
tools
that
we
have
to
for
all
of
the
industries
that
are
eligible
under
all
of
our
programs?
Previously
we
had
different
programs
that
had
different
eligibility,
so,
for
example,
under
our
reinvestment
program,
it
was
only
the
kra
program
I
mentioned
earlier.
I
So,
speaking
of
our
website,
I
want
to
share
a
report
with
you
that
we
have
available
on
our
website.
We
update
it
monthly
and
it's
approved,
and
we
present
it
to
our
kedford
board
and
it's
related
to
our
kbi,
our
most
popular
tool
that
we
use
for
new
and
expanding
industry
projects
here
in
kentucky.
I
If
you
look
to
the
left,
you'll
see
the
the
job
target
and
wage
target
columns,
as
well
as
the
actual
jobs
and
the
wages
that
are
reported,
and
I'm
happy
to
report
that
for
all
of
the
wage
targets
and
for
all,
but
the
very
first
year.
All
of
the
percentage
achieved
is
over.
A
hundred
percent,
so
the
jobs
are
being
created
and
the
wages
are
being
paid
based
on
what
the
companies
are
committing
to
us.
I
Additionally,
if
they
don't
create
jobs
or
meet
certain
requirements,
we
do
penalize
them
and
reduce
their
incentive.
So
if
you
look
to
the
right
side
of
the
screen,
we
have
a
column
that
says
approved
annual
maximum
and
the
total
shows
you
370
million
dollars.
That's
the
amount
of
the
incentive
that
was
approved
by
kedfa
at
the
meeting
well
based
on
monitoring
and
performance.
If
some
of
the
companies
don't
meet
the
requirements,
they
we
reduce
their
incentive.
I
They
do
a
great
job
of
monitoring
the
projects
and
this
information
is
cumulative
right
now
that
you
see,
but
we
also
have
it
available
on
a
project
by
project
basis
on
our
website,
if
you're
interested
and
as
tony
mentioned
earlier,
we
have
a
state
small
business
credit
initiative
program
and
some
of
you
may
have
heard
about
it.
It
was
in
the
news
a
little
bit
earlier
this
year,
so
I'm
going
to
go
back
to
2011,
give
you
a
little
bit
of
history.
I
The
federal
government
created
this
program
and
conte
and
we
applied
and
we
received
over
15
million
dollars
for
us
to
use,
and
it
was
to
provide
to
lenders
to
assist
with
small
businesses
that
needed
loan
and
credit
assistance,
and
I'm
happy
to
report
that
since
inception,
we've
approved
support
for
21
million
dollars
to
support
over
173
million
dollars
in
small
business
loans.
Our
most
popular
program
is
what
we
call
the
collateral
support
program
that
allows
us
to
put
20
percent
of
the
loan
up
as
collateral
for
the
lender.
I
I'm
happy
to
report
that
we
have
submitted
a
letter
of
intent.
It
was
due
in
may
and
we
did
submit
a
letter
of
intent.
Kentucky
may
be
eligible
for
over
80
million
dollars,
but
we
are
anxiously
waiting
for
the
federal
government
to
release
the
guidelines.
They
say
they're
going
to
release
them
in
the
summer
and
we
have
not
seen
them
just
yet.
It
may
be
august
or
september
before
we
get
those
we
do
plan
on
submitting
an
application
and
that
date
is
december
11th.
H
E
H
Our
our
monitoring
program
in
the
cabinet
they
oftentimes
are
sight
unseen.
I
mean
they're,
really
not
the
ones
involved
with
the
announcements
or
the
projects
or
whatever
you
don't
read
about
what
they
do,
but
they're
successful,
because
you
don't
read
about
what
we're
doing
you
know
you
oftentimes
read
about
agencies
like
ours
and
other
states
and
and
different
issues
that
come
up
in
terms
of
whether
appropriate
performance
took
place
after
an
incentive
was
given
and
so
forth.
H
We
have
a
very
transparent
monitoring
and
a
very
it's
very
significant,
the
effort
put
forth
by
the
people,
katie
and
and
her
staff
over
there
is.
It
keeps
us
out
of
the
newspaper
we
get
audited,
our
federal
programs
get
audited
by
treasury
and
different
auditors,
and
you
know
it
is.
I
can't
say
enough
about
the
job
they
do
and
it's
less
appreciated,
probably
than
most
of
the
other
things
we
do
in
the
cabinet.
So
they
are
it's.
It's
a
well-seasoned
team,
the
average
tenure
in
that
group.
H
A
No
great,
thank
you
all
for
your
presentation.
We
do
have
a
number
of
questions.
We
also
have
members
just
a
reminder.
We
do
have
another
presentation
as
well.
Certainly
don't
want
to
limit
our
conversation
here
today
because
I
think
it's
you
know
perhaps
one
of
the
most
important
ones,
what
we're
going
to
have
during
the
interim
process.
But
hopefully
we
can
continue
this
dialogue.
I
will
say
you
all,
you
know
met
with
me
last
month
and
I
appreciate
that
sit
down.
Conversation
look
forward
to
keeping
that
door
open.
A
A
H
You
know
the
the
normal
measures
that
people
are
used
to
is
investment
in
jobs.
You
know-
and
you
do
that
comparison,
but
the
truth
is.
It
is
more
fundamental
than
that.
If
we
can
look
at
the
the
sum
total
and
it's
hard
to
do
that
on
a
year-to-year
basis,
because
a
lot
of
these
projects
really
lend
themselves
toward
a
longer.
H
You
know
I
always
say
when
you,
when
you
come
into
office,
if
you're
a
new
administration,
new
governor,
you
might
as
well
take
the
first
year
year
and
a
half
of
their
announcements.
Those
were
projects
that
were
generally
started
in
part
of
the
pipeline
that
was
left
by
the
person
that
came
in
so
I
mean
it
is
a
long
time
in
coming.
I
think
there's
going
to
be
more
clarity.
We
hope
when
we
sit
back
down
again
the
end
of
the
year
and
we're
talking
about
budgets
and
new
tools
and
so
forth.
D
H
At
those
those
sectors
that
have
been
important
to
us
over
the
years
and
based
upon
some
of
the
things
that
we're
working
with
now
and
whether
we're
going
to
be
a
part
of
and
a
vital
part
of
the
electrification
efforts,
that's
going
on
what
products,
what
reinvestments
are
being
made
by
both
ford
and
toyota,
and
gm
and
bowling
green.
H
You
know
those
are
the
kind
of
things
we've
got
to
pay
attention
to,
because
that
industry,
which
is
so
important
to
us
all
over
the
state
with
our
auto
suppliers,
I
mean,
if
it
easily,
could
become
a
dinosaur
if
we're,
if
we're
not
successfully
working
with
the
current
oems,
that
we
have
and
help
them
and
get
some
of
their
investment
on
the
new
technology
and
bring
some
other
ones
in.
We
hope
I
mean
which
gets
down
to
again.
H
We
need
to
have
more
sites,
we
need
to
look
at.
My
guess
would
be.
We
may
be
talking
about
the
mega
site
that
the
general
assembly
some
time
back
and
their
wisdom
bought
and
is
down
in
elizabethtown.
My
hope
would
be
that
we're
going
to
have
to
be
looking
for
another
mega
site
that
that
one
is
now
doing
exactly
what
you
know
was
intended
and
it
could
be
transformational,
but
we
need
we
need
to
reload
on
that.
H
We
need
to
solve
the
problem
of
the
one
down
in
western
kentucky
in
ohio
county
and
the
other
five
counties.
We've
got
to
resolve
that
issue
with
utility
company
down
there
to
be
able
to
gear
up
and
provide
the
kind
of
power
that
some
of
these
projects
are
requiring
and
they
don't
want
to
wait
four
years
for
that
kind
of
thing.
We've
got
to
do
that.
H
We've
got
to
have
that
kind
of
partnership
with
them
and,
as
jeff
said,
he's
going
down
there
having
those
discussions
again
with
the
utilities
and
with
the
local
people,
but
I
hope
we're
able
to
tell
you
that
you
know
we're
reloading
on
some
sites,
our
product
development
initiative
that
we
have.
We
call
it
pdi.
H
That's
an
effort
to
try
to
gain
some
more
sites
that
we
can
we'll
have
you
know
under
our
our
control,
I
want
to
say
under
our
control.
Actually,
it's
not
under
our
control,
but
the
local
people
will
have
available
so
that
we've
got
more
inventory
to
be
able
to
show
to
prospective
customers.
That
is.
That
is
a
very
difficult
challenge
for
us
right.
D
A
Thank
you
secretary
and
my
second
question.
You
know
you
were
talking
about
the
mega
site
and
the
build
ready
sites.
What
kind
of
I
guess?
What
are
you
looking
for
in
those
sites-
and
I
know
in
the
second
committee
meeting
today
we're
going
to
hear
about
workforce
shortages
and
my
question
I
guess,
would
be
how
much
you
know
this
population
and
workforce,
just
education,
levels
and
opportunities
play
a
role
in
those
selections
of
those
sites.
H
H
The
ceo
of
the
americas
came
up
and
he
made
the
point
that
they're
making
internally
some
decisions
on
capital
expenditures
and
they
wanted
to
invest
in
this
operation.
Here,
as
he
looked
at
the
workforce
and
as
he
looked
at
not
just
what
they
do
now,
but
they
are,
they
are
moving
into
other
markets
also
which
are
going
to
require
a
different
skill
set
and
he's
really
describing.
H
He
doesn't
necessarily
need
a
curriculum,
that's
prescribed
by
one
of
our
universities
or
whatever.
He
needs
to
have
a
more
individually
developed
curriculum
that
that
involves
some
machining
training
and
so
forth.
We
need
to
become
very
flexible
and
more
flexible,
and
I
know
the
governor's
having
some
meetings
about
that
now,
with
both
the
universities,
the
community
colleges,
workforce
cabinet.
So
I
know
there's
a
real
effort
and
an
understanding
that
we've
got
to
become
more
flexible
in
how
we
can
assist
companies.
H
That's
really
going
to
be
the
the
the
key
thing.
Besides
having
those
sites
available,
you
know
having
the
workforce
that
they
can.
You
know
that
you
can
point
to
the
ability
to
attract
people
and
to
train
people.
D
D
Unfortunately,
the
governor
vetoed
that
bill
two
questions,
one
is:
did
you
all
support
that
legislation,
and
did
you
have
any
interaction
with
the
governor
prior
to
his
veto
on
that?
And
two
I'd
really
like
to
see
that
bill
come
back
in
the
next
session
and
I'd
like
your
thoughts
on
it
moving
forward.
H
B
H
Which
we
did
and
the
biggest
reason
we
supported
that
was
you
know
there
was
there-
was
an
opportunity
out
there
in
a
lot
of
different
communities.
We
heard
that
from
a
lot
of
different
local
ignite
development
agencies.
There
also
are
some
challenges
with
that.
You
know:
they're
they're,
they're,
big
power
users.
They,
the
data,
centers,
don't
employ
a
large
number
of
people.
H
D
H
D
Well,
I
think
it
was
a
missed
opportunity
and
I
tell
folks,
if
we're
not,
if
we're
not
participating
in
the
parade,
you
know
we're
going
to
be
relegated
to
standing
on
the
sidelines
watching
it
go
by
and
something
you
touched
on,
which
is
very
important,
which
is
one
of
the
main
components
of
the
data
center
is
coming
to.
The
state
is
they're
looking
for
rural
areas
in
the
state-
and
you
know
I
I'm
I'm
blessed
in
that-
I
I
live
and
represent
an
area
that
is
prospering
economically
right.
D
There
are
areas
in
the
state
that
are
struggling.
Folks
are
looking
for
jobs,
they
need
industry
coming
in
these
data,
centers
can
come
in
and
retool
existing
buildings,
whether
it's
was
a
tire
manufacturer
or
you
know,
name
the
building.
They
can
come
in
and
retool
those
and
they
br
they
bring
a
lot
we're,
not
a
lot,
but
they
bring
quite
a
number
of
well-paying
jobs
to
a
community,
and
I'm
sure
those
folks
would
would
appreciate
having
150
jobs
that
pay
the
70
to
80
000
plus
range.
D
So
I
appreciate
you
and
I'm
glad
that
you
supported
the
bill
because
I
think
it
was
an
important
move
and
I
think
it
was
something
that
we
needed
to
do.
D
I'm
going
to
work
to
to
to
on
that
legislation
in
the
2022
session,
hopefully
with
chairman
pratt
on
that-
and
I
again
hope
to
have
your
support
at
that
time,
because
I
do
think
we
need
it
and
we
missed
a
great
opportunity.
Thank
you,
mr
thank
you,
representative.
B
Yes,
thank
you.
My
question
is
for
commissioner
taylor.
Oh
no,
not,
commissioner,
I'm
sorry.
What's
your
name
me.
B
Folks
in
the
audience,
so
I
was
having
a
conversation
with
gli
and
the
topic
of
encouraging
entrepreneurs
to
locate
in
kentucky
came
up,
and
they
mentioned
that
one
of
the
barriers
for
entrepreneurs
in
kentucky
is
the
ability
to
obtain
venture
capital
is.
Is
that
a
barrier
that
you
see
as
opposed
to
locating
say
in
silicon
valley
or
or
could
you
just
speak
on
that?
Please.
F
There
is
absolutely
no
question
that
our
coffers
are
not
nearly
as
filled
as
our
competitive
states.
All
right
and
governor
holcomb
put
250
million
dollars
into
a
fund
just
to
support
early
stage
companies,
because
it's
not
just
the
initial
investment.
F
But
when
they've
got
250
million
dollars,
they
can
do
that.
So
there
is
no
question
that
that
indiana
through
elevate
ventures
wrote
a
very
big
check
once
and
then
is
now
they're
now
seeing
the
benefits
for
it
in
ohio.
They
did
the
same
thing.
They
were.
They
created
a
1.6
billion
dollar
fund
and
then
reinvested
with
750
million
dollars,
so
they
can
go
to
a
startup
with
no
revenue.
F
Very
early
stage
and
offer
them
a
million
dollars
to
relocate
in
ohio
in
an
equity
investment,
that's
a
tool
that
we
can't
do.
I,
in
fact,
if
I
did
that
you'd
be
like
tony.
What
are
you
doing?
You're
crazy?
We
only
have
30
million
dollars
that
company
has
no
revenue
if
we
were
able
to
expand-
and
I
know
in
in
the
original
budget
that
the
governor
had
there
was
22.5
million
dollars
for
emerging
ventures-
that's
not
a
ton.
F
This
is
a
phrase
I
had
to
learn
but
dry
powder,
and
that
is
how
much
money
do
you
have
for
early
stage,
venture
capital
and
some
companies
look
at
that
number
and
say
I'm
out
so
our
best
chance
and
and
where
we're
putting
all
of
our
resources
is
trying
to
grow
the
businesses
that
are
already
here
for
a
hundred
other
reasons,
their
families.
Here,
their
friends,
are
here.
F
B
For
you,
so
sorry
what
about
access
to
private
venture
capital,
non-governmental.
F
So
one
of
the
things
that
we
initiated
this
year,
which
had
not
existed
before,
is
we're
working
with
kstc
to
create
that
network.
The
venture
network
that
has
never
been
catalogued.
We
know
there's
money
here
in
the
private
sector,
but
nobody's
ever
sat
down
with
each
one
of
these
partners
and
said:
okay,
you've
got
how
much
in
the
bank-
and
sometimes
they
don't
want
to
give
the
full
number,
but
you've
got
roughly
x.
And
what
are
you
really
interested
in?
Because
we
don't?
Our
entrepreneurs
are
too
busy
to
waste
time.
F
The
the
venture
capital
side
of
that
is
is
exactly
that.
We
want
to
create
a
list.
That's
really
easy
for
entrepreneurs
to
scroll
down,
so
that
all
of
our
hubs
can
meet
with
an
entrepreneur.
That's
trying
to
fundraise
and
say
great
rather
than
you
pounding
the
payment
for
50
companies
that
are
unlikely
to
invest
here
are
the
15
that
actually
may
really
invest
in
your
business.
F
The
other
thing
that
we
don't
have
in
kentucky
is
somebody
to
lead
investments.
You
know
every
other
state
through
their
state
investment
fund
leads
investments.
That
means
they
do
all
the
paperwork
they
handle
all
the
legal
fees,
they
create
the
original
deal
structure
and
then
they
go
out
into
the
community
and
recruit
people.
Kstc
has
done
a
good
job,
but
we
don't.
F
F
F
You
know
they're
going
to
laugh
at
me
if
I
say
85.,
they
have
laughed
at
me
when
I
said
85.,
I
only
you
know
so.
Those
kinds
of
issues
and
struggles
are
things
every
business
deals
with,
but
the
more
that
we
have
in
the
tank.
I
can
assure
you
we
are
spending
it
responsibly.
You
know
nobody
is
more
hawkish
about
where
that
money
goes
than
I
am.
You
know
we
we've
instituted
accountability
metrics.
We
want
to
see
every
invoice.
F
We
are
focused
on
trying
to
use
our
money
efficiently
because
we
don't
have
a
lot
of
it
and
I
don't
want
to
move.
I
love
it
here.
We
just
renovated.
You
know
and-
and
I
think
that's
true
of
everybody
in
the
state
when
we,
when
I
go
around
the
state,
the
governor
always
says
opportunity
is
limited,
but
ability
is
everywhere.
I've
seen
that
I
visited
paducah,
I'm
going
to
pikeville.
I
am
out
there
meeting
these
people
and
what
I
can
tell
you
is.
B
B
B
G
Secretary
I'll
take
that
one
we
have
quite
a
few
businessmen
from
various
nationalities
that
contact
us
personally
in
regards
to
the
electrical
vehicle
and
automotive
sector.
That's
korea,
that's
japan!
That's
europe!
All
their
oems
are
talking
to
us
as
well
as
india.
They
are
venturing
into
not
just
electric
vehicles,
but
electric
tractors,
so
we've
been
in
touch
with
them.
We
also
have
a
multi-faceted
and
comprehensive
marketing
campaign
we're
reaching
out
to
california
the
east
coast,
texas,
where
they
had
the
reliability
issue
with
the
electricity.
G
It's
not
just
a
kilowatt
per
hour
issue
that
companies
look
at.
They
also
want
to
know
about
electrical
reliability.
So
with
these
campaigns
we
also
target
europe.
We
talk
asia.
The
issue
is
that
we
are
so
busy
just
responding
to
what
comes
through
the
door.
We
don't
have
a
lot
of
time
to
proactively
market,
but
we
do
when
we
have
time.
We
have
various
campaigns
that
we've
rolled
out.
We
have
a
office
in
japan
and
also
in
europe.
G
I
think
secretary
haste
told
you
that
earlier
we
were
slated
to
go
to
europe
in
both
japan
and
march
and
covet
shot
that
down.
We
are
we're
able
to
zoom
with
several
companies
in
europe
and
both
japan.
We
have
company
coming
in
next
week,
a
german-based
company
for
its
winner,
that
is
located
in
franklin
kentucky,
so
we
get
a
good
bit
of
foreign
direct
investment.
They've
been
chopping
at
the
bit.
G
H
You
know
I
don't
know,
I
don't
know
the
current
number
when
I
was
here
before,
like
by
comparison
with
other
states
on
a
per
capita
basis
only
hawaii
exceeded
kentucky
in
terms
of
japanese
direct
investment
in
japanese-owned
businesses.
Most
people
wouldn't
realize
that,
but
you
know
kentucky
on
a
per
capita
basis
and
hawaii
is
obviously
a
more
normal
landing
place
for
that,
and
that
happened
in
a
period
of
10
15
20
years,
one
of
the
ownerships
of
companies
now
and
here
again
I'll
go
with
suntory.
H
I
mean
we
think
of
makersmart
bean
global
all
of
those.
They
are
very
much
kentucky
companies
and
run
as
kentucky
companies,
but
they're
owned
by
centauri,
who
you
know
is
a
japanese-owned
and
that
relationship
has
been
wonderful
in
terms
of
both
allowing
the
bill,
samuels,
family
and
the
other
people
to
run
those
businesses
and
the
mother
company,
providing
the
capital
to
see
all
the
expansion
that
you
see
and
yet
that's
an
example
there's
starting
to
be
an
assimilation
of
capital
from
the
company
I
met
with
yesterday.
H
H
H
We
do
have
research
on
how
we,
how
we
rate,
both
in
terms
of
foreign,
owned
businesses
and
so
forth,
we'll
pull
that
together
for
you-
and
I
know,
you're
very
active
in
that
community-
and
it's
it's
fascinating
really
that
kentucky
I've
always
had
the
impression
we
really.
H
We
really
fight
above
our
fighting
weight,
if
you
will,
by
comparison
with
other
states,
but
I
always
the
staff
knows,
I
always
hate
to
talk
about
comparing
ourselves
to
other
people,
because
really
it's
what
direction
we're
heading
and
how
successful
we
are.
We're
not
we're
not
trying
to
compare
ourselves
to
someone
else,
but
we'll
get
you
that
information.
H
A
A
E
Thank
you,
mr
chairman
and
larry
great
presentation
today.
I
think
you
guys
are
doing
really
great
work,
and
so
one
of
the
things
I've
done
is
I've
worked
with
companies
on
on
the
workforce.
Training
in
you
know
program
that
you
guys
have
through
that,
and
it's
excellent
a
lot
of
companies.
E
I
mean
a
lot,
don't
take
advantage
of
it
and
what
I
see
in
that
is
all
the
incentives
that
you
were
showing
up
there
and
surprisingly,
a
lot
of
companies
don't
actually
take
advantages
of
this
incentives
that
they've
been
given
and
typically
it's
because
they
have
nobody
to
dedicate
to
follow
that
and
that's
very
unfortunate.
But
that's
the
thing
I
hear
over
and
over
and
over
again
I
do
come
from
one
of
the
areas
that
has
probably
we've
been
number
one
in
economic
development.
E
E
We
need
people
to
come
here
that
that
have
the
skills
and
that
are
workers
and
I've
often
said
we
need
a
marketing
program
that
would
help
market
that,
and
you
know
it
was
mr
ellis,
you
talked
about
that
how
they
paying
500
000
out
here,
but
they
could
come
here
for
110
because
they
can
buy
a
house
for
one-fifth
of
the
cost
of
what
they
could
pay
in
california.
E
The
cost
of
living
is
so
much
better
than
it
is
there
and
it's
it's
incredible
if
we
had
some
kind
of
marketing
campaign
to
attract
people
to
come
here
for
the
jobs
that
are
available
for
them.
For
all
these
companies
that
are
coming-
and
that's
the
biggest
flaw
that
I
see
in
our
program
and
what
we're
doing-
and
I
know
that
it
falls
back
to
us
because
we
haven't
allocated
any
money
for
that,
but
that's
something
I
think
that
we
absolutely
need
to
do
to
attract
the
workforce.
We
need.
E
H
H
Maybe
that's
almost
a
year
ago
now
they
were
talking
about
what
they
found
at
their
headquarters
out
in
seattle.
They
had
60
000
employees
at
that
headquarters
out
there
and
they
had
the
search
going
for
their
second
big
headquarters,
and
he
said
when
they
all
of
a
sudden
went
remote
fled
seattle
and
they
located
wherever
they
wanted
to
locate.
H
So
they're,
really
working
at
that
you're,
exactly
right,
we're
in
transition
right
now
in
in
even
the
companies
that
we
think
have
all
the
answers
to
those
things
haven't
yet
determined
all
the
answers,
and
I
would
say,
with
ours-
and
this
isn't
meant
as
an
excuse.
I'm
probably
lobbying
I'll-
have
to
lobby
the
governor
for
this.
But
when
I
was
here
in
2008,
we
had
105
or
106
employees.
H
We've
got
64
today
in
our
cabinet
and
we
have
a
ton,
and
this
isn't
meant
to
complain
we
just
when
the
when
they
say
we
are
just
busy
as
can
be.
It
is
absolutely
true.
Everybody
is
strong.
So
if
we
have
all
these
ideas
too,
and
it's
hard
to
be
able
to
separate
those
things
that
are
imminent
and
that
we've
got
to
deal
with
and
manage
these
projects.
H
So
when
we
come
back
again
when
we
come
back
with
the
the
budget
in
the
fall
and
so
forth,
we'll
try
to
we'll
have
a
thoughtful
conversation,
and
I
know
the
governor
wants
us
to
encourage
us
to
try
to
staff
up.
It's
been
very
difficult
to
try
to
staff
up
when
we
aren't
there
to
have
an
onboarding
process
with
people,
so
we're
gonna.
H
A
A
I
would
ask
you
all
to
please
email
staff
we're
going
to
put
together
those
questions
and
then,
along
with
the
earlier
questions,
hopefully
we'll
get
answers
that
we
could
distribute
to
the
whole
whole
group
here
there
is,
I
want
to
go
to
online
finish
it
up.
Senator
mcdaniel
has
been
patiently
waiting
and
I've
waited
till
the
end
to
switch
people
online
here.
So
senator
mcdaniel.
B
Thank
you,
mr
chairman
secretary
everybody.
I
appreciate
you
being
here
today.
My
question
is
simply,
you
know,
as
an
employer
and
someone
who
deals
with
employers
every
day.
We
know
the
biggest
issue
that
we
face
is
getting
people
on
boarded
and
getting
people
to
show
up
and
doing
the
jobs
every
day,
and
one
of
the
impediments
that
we've
complained
about
has
been
the
lack
of
need
to
apply
for
work,
which
was
fortunately
remedied,
but
also
the
change
in
the
pandemic
unemployment.
H
H
I
mean
it
is
something
that
you
know
our
competitors.
States
also
are
faced
with
when
we're
dealing
with
these
projects,
and
we
talk
with
them
about
that
and
it
it
is
a
national
problem.
I
think,
but
you're
correct
senator.
That
is
that
that
is
a
big
issue
for
sure.
Maybe
the
issue,
if
you're
running
a
small
business
that
I'm
in.
A
Okay,
thank
you
all.
We
appreciate
your
time.
As
I
said
members,
please
email
your
questions
again.
I
know
there
are
a
number
still
here
on
the
list.
So
go
ahead,
email,
those
questions
we'll
get
those
to
you
by
the
end
of
the
week
and
then
look
forward
to
your
answers
that
will
distribute
to
the
group.
So
thanks
again,
thank
you
all
look.
A
Okay
and
members,
just
as
a
reminder
as
andrew
mcneill
comes
to
the
table,
his
presentation,
the
lost
decades
kentucky's
economic
underperformance
from
1980
to
2020,
is
previously
made
available
to
members
on
the
committee
page
of
the
lrc
website.
So
if
you
need
to
access
that
now
or
later
for
reference,
it's
on
the
committee
page.
A
Just
also
so
we
know
where
we
are
with
time.
I
was
told
that
earlier
that
licensing
and
occupation
is
gonna
meet
in
another
room,
so
that
did
give
us
an
extra
15
minutes.
So
we
are
good
until
10
45,
but
I
do
know
we
want
to
leave
some
room
for
questions.
J
Thank
you,
mr
chairman,
chairman
weber,
members
of
the
committee.
J
My
name
is
andrew
mcneill,
I'm
a
policy
fellow
with
the
bluegrass
institute
for
public
policy
solutions,
we're
a
501,
c
3,
nonpartisan
organization,
dedicated
to
policy,
research,
education
and
engagement,
and
I
appreciate
the
chance
to
be
in
front
of
this
committee,
particularly
following
the
presentation
that
we
just
had
from
the
economic
development
cabinet,
because
I
think
that
there's
two
sides
to
the
coin,
that
their
presentation
will
discuss
and
reveal
and
in
my
presentation,
we'll,
discuss
and
reveal
in
that
with
their
presentation.
J
It
was
a
very
good
encouraging
snapshot
if
you
will
of
where
they
are
or
where
we
have
seen
some
of
the
more
recent
trends
with
progress
in
economic
development
and
growth
within
the
states
focusing
on
various
programs
and
initiatives
to
move
the
state
forward.
J
What
I
was
interested
in
when
I
joined
the
bluegrass
institute
was
looking
at
a
longer
term
view
of
kentucky's
performance
in
terms
of
generating
growth,
generating
higher
standards
of
living
and
generating
a
higher
quality
of
life
and
using
benchmarks
to
determine
just
how
exactly
we
have
progressed,
vis-a-vis,
some
competitor,
but
really
benchmark
states
and
then
also
look
less
from
a
programmatic
standpoint,
but
at
what
are
the
structural
underpinnings,
if
you
will
that
shapes
the
environment
for
entrepreneurs,
businesses,
various
growth,
components
to
see
success
and
again
using
that
as
an
opportunity
to
compare
with
with
some
of
our
competitors.
J
So
I've
been
in
frankfurt
for
for
20
years,
it's
interesting,
sometimes
the
little
factoids
or
things
that
you
file
away.
J
That's
that
stick
with
you,
but
but
this
stuck
with
me,
because
it
was
right
about
the
time
that
I
was
beginning
to
work
over
here,
which
was
paul
patton
and
his
his
first
term
set
a
pretty
ambitious
goal
for
his
administration
and
for
the
long-term
policy
outcomes
of
the
steps
that
he
took
to
position
kentucky
for
the
future
and
that
was
to
raise
the
quality
of
life
in
standard
of
living.
In
kentucky
above
the
national
average
in
20
years,
it's
about
1999-2000.
J
I
want
to
go
ahead
and
say
that
this
is
not
a
critique
or
any
criticism
of
governor
patton's
success
or
his
program.
It's
just
an
interesting
launch
point
for
this
discussion
and
for
the
framing
of
the
questions
that
I
had
about
this
report,
which
was
if
he
set
up
this
time
horizon
of
20
years
well.
Here
we
are
we're
pretty
close
to
20
years.
Let's
see
how
kentucky
has
done.
J
J
So
here's
here's
here's
what
we
found!
J
J
there
has
been
a
steady
decline
in
our
per
capita
income
as
as
compared
to
the
u.s
national
average.
It's
important
to
point
out
that
kentucky
has
grown.
During
that
period.
The
there
has
been
success
in
the
cabinet
for
economic
development's
efforts
to
draw
and
enhance
investment
in
the
states.
There
has
been
entrepreneurial
growth.
J
I
wanted
to
take
a
look
at
how
we
compare
a
benchmark
to
a
selection
of
states
and
for
anyone
who's
interested
in
this
in
the
appendix
of
the
reports.
J
There's
a
description
of
how
exactly
we
go
through
and
end
up
with
this
selection
of
states.
But
you
know
a
lot
of
times
in
frankfort.
People
want
to
know
how
do
we
compare
against
surrounding
states?
How
do
we
compare
against
neighboring
states?
The
fact
is
for
an
analysis
like
this
when
you're
looking
out
over
40
years,
you
really
want
to
try
to
find
those
states
that,
for
lack
of
a
better
term,
looked
like
us
at
a
certain
starting
point,
which
was
1980.
J
J
The
state
of
iowa
may
have
had
some
similar
characteristics,
but
you
know
we
can
just
intuitively
understand
that
you
know
there's
some
significant
differences
between
state
like
iowa
and
south
dakota
and
kentucky,
but
these
were
the
benchmarks
that
that
again,
they
looked
like
us
and
if
you
look
at
this,
what
is
the
far
right
column
to
me?
J
J
Well,
the
fact
is
is
that
north
carolina
and
tennessee
especially
have
seen
rates
of
growth
in
their
per
capita
disposable
income,
which
reflects
upon
their
higher
quality
of
life
and
living
standards
in
a
way
that
has
far
outpaced
the
state
of
kentucky
alabama,
which
was
a
state
that
was
slightly
behind
us
at
the
starting
point,
has
not
only
caught
us
but
has
surpassed
us
indiana.
We've
actually
done
pretty
well
against.
J
What's
interesting,
if
you
look
at
this,
is
that
if
you
want
to
see
what
real
progress
looks
like
look
at
tennessee,
they
were
behind
indiana
in
1980
by
700
over
40
years.
They
have
moved
ahead
of
indiana
by
less
than
a
thousand
dollars
on
average,
that's
what
has
been
possible.
J
Kentucky
has
again
seen
growth,
but
we
have
not
seen
growth
at
the
rate
or
trajectory
of
these
other
states.
So
you
know
just
looking
at
some
of
the
raw
gdp
numbers
over
these
periods.
J
If
I
would
have
told
you
or
if
I
would
have
had
a
conversation
with
anyone
that
shared
with
me
that
our
gdp
number
over
a
four
over
the
1997
to
2019
period
was
3.3
percent
in
isolation
or
in
a
vacuum.
I'd
say
that
looks
pretty
good.
You
know,
that's
that's
a
nice
solid
growth
rate,
but
look
at
again
what
has
been
possible
in
in
other
states,
and
those
are
the
figures
that
drive
what
we
just
saw
in
the
previous
slide
in
terms
of
a
rising
set
of
incomes
in
other
states.
J
That
kentucky
simply
has
not
witnessed.
Although
we've
seen
progress
in
the
past
so
to
this
to
this
question
of
what
are
the
structural
underpinnings
that.
J
What
what
I
have,
what
what
I
have
determined
or
or
an
argument
that
I
would
make
and
would
present
the
data
here
in
a
minute
to
support,
is
that
you
know
we
have
this
easily
understood
red
and
blue
dichotomy
related
to
red
states
and
blue
states,
largely
driven
by
how
state
votes
for
presidents
really
and
and
kentucky
has
since
1996
voted
consistently
for
the
republican
presidential
candidate.
J
We
are
a
red
state
politically,
but
when
you
look
at
certain
factors
of
our
economy
and
especially
our
finances,
our
budget,
our
fiscal
policy,
our
taxes,
we
have
a
state
government,
more
akin
to
new
york
and
california
in
blue
states
in
size
and
scope
than
we
do
alabama
or
north
carolina.
What
do
I
mean
by
that?
J
California,
new
jersey
and
illinois
wanted
to
validate
that
with
a
second
data
point.
This
is
from
the
kaiser
family
foundation.
If
you
look
at
per
capita
spending
from
fiscal
year,
2019.
J
kentucky
ranks
16th
in
the
nation
in
terms
of
the
size
and
scope
of
state
spending
or
spending
government
spending
within
the
state.
It's
not
just
state
spending,
it's
state
federal
bonds
and
everything
across
the
board
again
on
a
per
capita
basis,
higher
spending
levels
in
california,
new
jersey,
michigan
and
illinois.
J
Only
behind
new
york,
with
this
list
of
states
16th
in
the
nation,
and
then
you
look
at
tennessee
and
north
carolina,
lower
rates,
lower
levels
of
spending
and
over
a
period
of
time,
although
I'm
not
claiming
a
direct
causal
relationship.
I
haven't
run
regressions
on
this
necessarily,
but
you've
seen
that
from
an
economic
growth
standpoint,
you
know,
they've
far
exceeded
our
levels
of
growth.
You
know,
there's
there
seems
like
there's
something
to
this
question
of
what
is
the
size
and
scope
of
kentucky
state
government?
J
What
does
its
impact
maybe
have
on
the
entrepreneurial
climate,
the
business
climate,
the
the
growth
climate
within
the
state,
high
debt
levels?
Forbes
calculates
that
kentucky
has
the
eighth
highest
level
of
debt
in
the
nation.
J
J
J
I
believe
that
we're
on
a
course,
although
some
work
remains
to
be
done,
we
sort
of
have
recognized
that
that's
at
issue
and
and
we've
done
the
work
to
get
our
arms
around
it
general
obligation,
debt
debt
service,
it's
a
big
problem
from
a
debt
standpoint
within
the
state,
and
if
you
see
here,
the
doubling
of
debt
service
as
a
percentage
of
the
general
fund
means
that
we're
borrowing
a
lot
of
money.
J
How
do
you
pay
for
high
levels
of
spending?
How
do
you
finance
high
levels
of
debt?
Well,
it
comes
down
to
taxes,
obviously,
and
something
that
I
would
really
like
to
emphasize
for
members
of
the
committee
and
members
of
the
general
assembly
is
this
focus
on
going
forward
this
question
of
overall
tax
burden?
J
Okay,
a
lot
of
discussion
in
in
meetings,
a
lot
of
discussion
and
policy
about
rates
about
switching
between
taxes
on
consumption
versus
income,
but
but
tax
burden
is
is
doesn't
really
get
the
discussion
that
it
needs
and
think
of
tax
burden,
as
it's
kind
of
the
weight
that
your
small
entrepreneur
carries.
Your
average
kentuckian
carries
and
with
with
total
tax
burden,
kentucky
again
ranks
near
the
top
20
for
income
tax
burden.
We
rank
sixth
and
again,
look
at
the
comparison
with
those
other
states
that
have
done
demonstrably
better
in
terms
of
growth.
E
J
More
attention
and
should
get
more
attention
going
forward,
so
why
couldn't
kentucky
compete?
And
this
is
where
the
presentation
takes
a
point
of
view.
J
This
term
economic
freedom
is
a
term
that's
used
by
prominent
think
tanks
that
you'll
hear
from
us
and
from
other
organizations
that
take
a
certain
point
of
view
on
these
questions,
but
but
really
the
dichotomy
here
that
I
would
suggest
that
you
can
evaluate
this
question
of
how
to
describe
the
sort
of
fundamentals
of
kentucky's
economy
is
economic
freedom
versus
economic
redistribution
and
economic
freedom,
limited
governments,
lower
government
spending,
lower
tax
burdens,
responsible
debt
levels,
economic
redistribution,
which
I
would
suggest
to
you-
is
the
category
that
kentucky
belongs
within
you:
have
more
redistribution
through
central
governments,
reflected
in
higher
government
spending,
higher
tax
burdens
and
and
high
levels
of
of
debt?
J
There's
a
couple
of
prominent
think
tanks
that
rate
and
rank
states.
According
to
this
measure
of
economic
freedom,
the
fraser
institutes
out
of
canada,
the
cato
institute
out
of
out
of
washington.
I
present
this
for
a
couple
of
reasons.
Again,
look
at
the
contrast
of
kentucky
versus
especially
tennessee
from
a
fiscal
government
from
a
government
spending
and
a
fiscal
policy
ranking
if
you're
thinking
about
size
and
scope
of
government.
That
is
what
that
essentially
is.
Is
that
the
the
fiscal
policy
of
the
state?
J
You
know
we
rank
again
with
a
set
of
states
that
that
are
well
accepted
to
be
bigger
government
states
and
we
are
not
ranked
favorably
with
those
states
that
I
think
that
we
should
consider
as
as
benchmarks
and
and
models
going
forward,
some
some
recommendations
for
2022
and-
and
you
know
this
is
a
long-term
challenge.
J
This
is,
as
the
saying
goes.
This
is
turning
the
battleship.
The
size
and
scope
of
kentucky
state
government
has
been
built
up
over
many
generations.
J
It's
not
something
that
you
can
change
overnight,
but
I
think
that
with
very
particular
attention
to
what
the
north
star
is,
which
is
aligning
ourselves
more
closely
to
states
that
embrace
economic
freedom
and
an
agenda
to
get
us
there,
we
can
begin
to
make
progress.
2022.
I
want
to
run
through
these.
Just
real
quickly
strengthen
the
rainy
day
fund
begin.
The
process
of
reining
in
kentucky's
debt
continue
responsible
budgets
and
principal
tax
policy.
J
I'd
be
happy
to
answer
any
questions
about
specifics
on
that,
but
I
want
to
speak
a
little
bit
just
quickly
to
what
do
I
mean
by
principal
tax
policy,
and
I
wanted
to
make
sure
that
this
was
part
of
today's
conversation,
because
you
know
the
question
of
whether
or
not
there's
going
to
be
an
effort
to
undertake
comprehensive
tax
reform
or
tax
modernization.
J
That's
always
in
these
halls
right.
It
has
been
in
the
20
years
that
I've
been
here.
It's
always
out
there
and
we
don't
have
a
set
of
recommendations
in
terms
of
you
know
what
to
set
the
income
tax
rate
out
of
the
sales
tax
rate
at
this
point,
but
I'd
offer
you
three
principles
to
to
gauge
tax
policy
changes
with
are
the
tax
changes
of
revenue
neutral
and
therefore
won't
increase
the
overall
tax
burden
on
kentuckians,
and
that
goes
back
to
the
point
of
focus
on
tax
burden.
J
Tax
burden
is
again
that
level
of
taxation
that
your
average
kentuckian,
your
average
small
business
or
your
average
business
bearers.
So
you
could
change
the
rates
in
a
way
that
meets
the
principles
of
the
second
point.
You
know,
shifting
from
income
to
consumption,
but
if
it's
revenue
positive,
then
you
may
have
increa.
J
You
may
have
improved
the
rate
structure
or
improved
the
trade-off
between
income
and
consumption,
but
you've
increased
the
tax
burden,
and
what
we've
seen
in
this
presentation
is
that
those
states
that
have
performed
at
a
level
that
we
were
not
capable
of
of
matching
their
tax
burdens
are
significantly
lower
than
than
ours,
so
pay
attention
to
tax
burden.
We
do
believe
that
changes,
favoring
consumption
over
income
and
savings
are
important.
J
The
last
one
is
do
tax
changes,
favor
individuals
and
small
entrepreneurs
over
narrow
special
interest,
and
what
this
really
gets
to
is
this
question
of
looking
at
tax
exemptions.
Looking
at
tax
expenditures?
J
Looking
at
credits,
I
mean
you
know
you,
you
want
to
have
flatter
rates
that
have
fewer
loopholes
and
that
just
makes
for
a
more
fair
and
efficient
tax
system
and
where
you
tend
to
find
the
swiss
cheese
approach
towards
tax
policy
is
when
you're
trying
to
carve
out
certain
exemptions.
Certain
credits
for
industry
and
and
therefore
keeping
things
flat
lower
and
with
fewer
exemptions,
really
is
just
creating
the
level
playing
field
that
favors
individuals
and
entrepreneurs
as
much
as
it
does
any
any
large
industry
or
or
group.
That
is
lobbying
for
small
changes.
J
A
Thank
you.
Thank
you
for
being
here.
We
do
have
some
questions
and
I'm
going
to
first
go
to
members
who
had
questions
last
presentation,
but
I
wasn't
able
to
get
to
them.
So
we'll
start
senator
wheeler.
D
Thank
you,
mr
chairman.
I
guess
one
of
the
questions
I
have
is
it's
it's
kind
of
more
of
a
comment
as
well.
While
I
understand
that
you
know,
we
need
some
tax
reform.
I
think
there's
some
general
consensus
on
that
within
the
general
assembly
going
to
a
completely
consumption-based
based
tax
system
does
create
some
issues
with
burdening
low-income
citizens
and
in
many
areas
of
the
state,
like
my
own,
where
some
of
the
signature
industries
have
struggled
in
recent
years
like
the
coal
industry,
that's
that's
a
very
difficult
thing
to
do.
D
You
know,
in
addition,
I
think
that
a
lot
of
the
policies
that
you
know-
and
this
is
more
of
a
national
level
of
have
promoted
outsourcing,
which
has
you
know,
cost
the
country
a
lot
of
good-paying
jobs
that
were
here
previously,
which
formed
the
basis
of
a
lot
of
the
economic
success
in
these
other
states.
D
J
Yeah,
thank
you
senator
and
it's
it's
an
important
point
about
this
shift
from
taxing
consumption,
vis-a-vis
income
and
having
worked
with
the
bevin
administration
in
2018
and
looking
at
multiple
scenarios
of
an
aggressive
tax
reform
and
hearing
the
conversations
around
frankfurt
and
oftentimes.
The
ideal
that's
set
up
is
well
gosh.
If
we
could
just
mimic
the
state
of
tennessee
and
eliminate
the
personal
income
tax
shift
all
that
to
consumption,
you
know,
wouldn't
that
be.
Wouldn't
that
be
great.
J
I
don't
think
there's
any
scenario
that
you
can
do
that
without
examining
and
moving
forward
with
the
taxation
of
groceries
and
utilities
and
to
the
senator's
point.
You
know
that
is
a
very
significant
and
regressive
tax.
J
J
I
think
that
their
sales
tax
may
be
seven
percent,
so
maybe
a
point
higher.
J
They
may
have
a
broader
base
if,
if
there
was
a
discussion
about
what
could
be
potentially
a
north
star
for
a
significant
tax
reform,
indiana
would
actually
be
the
model
that
I
would
suggest
the
legislature
take
a
close
look
at
because
you
know,
unless
the
legislature
is
willing
to
entertain
this
idea
of
taxing
groceries
and
utilities
getting
to
zero
percent
on
the
state
income
tax
is
going
to
be
a
bridge
too
far.
So
senator
hope
that
may
have
answered
your
question.
D
Mr
chairman
does
indiana:
do
they
tax
their
groceries
or
utility
bills,
or
do
they
exempt
those
things
like
kentucky.
J
I
don't
I
don't
believe
so,
but
I
would
have
to
verify
that
specifically
sir.
A
B
Thank
you,
mr
chair,
for
your
accommodation.
I
appreciate
that.
Thank
you
for
being
here
today.
I
appreciate
you
bringing
up
about
the
tax
expenditures.
That's
I
keep
that
hard
copy
on
my
desk.
That's
where
it
is
right
now
I
try
to
follow
that
every
year
I
don't
know
if
you
or
your
group
followed
my
house
bill
156
from
this
last
session.
It
was
talking
about
improving
the
taxing
on
historical
horse
racing
and
the
advanced
deposit.
Wagering
again
I
don't
have
that
in
front
of
me.
Did
your
group
look
at
that?
B
J
Thank
you
for
that.
The
horse
industry
specifically
or
this
question
of
how
to
tax
the
historical
racing
going
forward,
taxing.
J
Yeah
you
know
I
so
I
followed
it
didn't
follow
it
in
the
detail.
That
allows
me
to
probably
give
a
whole
lot
of
insight
into
that,
but
but
but
it's
an
important
question
and
I'm
going
to
go
back
to
this
question
of
tax
burden.
J
My
recommendation
on
that
would
be
whatever
that
figure
is
the
revenue,
the
the
the
positive
net
revenue
that
would
come
from
the
taxation
use
that
to
buy
down
or
eliminate
another
tax
revenue
neutrality?
If
it's,
if
it's
50
million
dollars,
50
million
dollars-
and
I
know
that
this
is
going
to
be
received
somewhat
controversially,
50
million
dollars
is
what
it
would
take
to
eliminate
the
death
tax
in
the
state
of
kentucky.
J
J
I
B
J
B
E
I'll
be
quick
andrew.
E
You
stole
some
of
my
thunder
on
a
couple
of
my
questions
I
had,
but
since
we're
talking
about
economic
development-
and
I
think
senator
wilson
talked
about
this
as
far
as
the
the
issues
that
we
have
attracting
families
on
the
move
attracting
workforce-
that
we
need
just
comment
on
a
change
of
tax
structure
like
indiana,
I
border
indiana
and
follow
the
tax
structure
there
substantially
and
you're
exactly
right
to
go
to
zero,
like
tennessee
is
probably
not
doable
for
us,
but
to
follow
the
model
of
indiana
much
lower
income
tax.
E
Less
exemptions
is
probably
what
we
need
to
be
looking
toward,
but
how?
How
do
you
think
if
we
ended
up
where
indiana
is
at
how
much
more
competitive?
Would
we
be
when
we're
talking
about
all
these
programs
that
the
secretary
talked
about
beforehand
I
mean
we
would
we
would
be
that
much
more
competitive
for
jobs
and
talent.
J
We
we
would
be
we'd,
be
more
competitive.
I
think
that
it
would
position
the
cabinet,
for
example,
to
have
a
different
pitch
to
to
clients
about
locating
in
the
state,
but
nothing
while
taxes
are
important.
J
Nothing
drives
the
migration
or
the
immigration
of
talent.
Like
economic
growth,
I
mean
you
know
we
need
to
have
the
necessarily
policies
in
place.
J
You
know
to
to
drive
growth,
but
if
you
look
at,
if
you
look
at
tennessee,
I
drove
by
nashville
a
couple
of
weeks
ago
and
even
in
the
last
10
years
that
city
skyline
has
has
transformed
now
they've
got
some
problems
with
traffic
and
everything
that
goes
along
with
that,
but
those
sometimes
good
problems
to
have
you
know
I
think
it
may
have
been
senator
wilson
was
talking
about
how
u-hauls
are
moving
to
to
tennessee.
So
taxes
are
part
of
it,
a
big
part
of
it.
J
But
again,
look
at
some
of
these
structural
questions.
I
I
can't
emphasize
enough
this
question
of
getting
serious
about
paying
down
our
debt.
You
know
that's
a
direct
reflection
upon
the
state
and
its
willingness,
or
lack
thereof,
to
engage
in
sound
financial
management.
You
know-
and
it
takes
time,
but
if
we
begin
over
the
next
four
to
six
years
to
focus
on
some
real
solid
reforms,
then
I
start
thinking
that
we
start
seeing
those
rates
of
growth
that
exceed,
or
you
know,
closer
to
four
percent
or
closer
to
our
competitors.
A
Andrew
thank
you
for
your
presentation,
appreciate
it.
I
know,
there's
a
couple
members
that
had
questions
I'd,
encourage
them
to
reach
out
to
you.
I
know
you've
always
been
willing
to
respond
to
me
with
any
questions
I
have,
and
I
certainly
appreciate
that
members.
Thank
you
for
a
good
first
meeting,
look
forward
to
continue
conversations
here
in
the
future
and
I'll
see
a
number
of
you
back
at
one
thanks.