News & Events

Beshear announces launch of Kentucky Small Business Investment Credit program


LEXINGTON, Ky. (Dec. 6, 2010) —Gov. Steve Beshear announced the Kentucky Small Business Investment Credit (KSBIC) program, part of the Governor's Incentives for a New Kentucky (INK) legislation, will start accepting applications in January 2011. The KSBIC program is designed to spur job creation by providing a nonrefundable state income tax credit to small businesses.

 

The program provides state income tax credits ranging from $3,500 to $25,000 per eligible small business that creates, fills and maintains one or more new, eligible jobs and invests at least $5,000 in qualifying equipment or technology. With certain exceptions, most for-profit small businesses with 50 or fewer employees are considered eligible for the program.

 

"I am delighted that Kentucky's small businesses will soon be able to benefit from the Kentucky Small Business Investment Credit program, established through my INK legislation," said Gov. Beshear. "Small businesses are vital to our state's overall economic health and prosperity and this new tax credit program will allow us to provide a new resource that will encourage new jobs and investment."

 

Businesses may apply one year after the latter of creating and maintaining at least one new eligible job and purchasing $5,000 or more in qualifying equipment or technology. Eligible hires and qualifying equipment and technology purchases dating back to Jan. 1, 2010, will meet program requirements. The KSBIC program is subject to a statutory limit of awarding $3 million in state tax credits per state fiscal year. Learn more.

 

The start date for the KSBIC program was accelerated from January 2012 to January 2011, in HB 2 of the 2010 Special Session. Subject to funding availability, all eligible applications will be scored and ranked, with the highest ranked applications being submitted to the Kentucky Economic Development Finance Authority for review and approval.

 

In addition to meeting the required program criteria, other factors will increase an applicant's score including: the amount of qualifying equipment or technology purchased from businesses physically located in Kentucky; the average base hourly wage for the eligible position(s); the number of eligible position(s) created and filled in enhanced counties; and having not been previously approved for a tax credit under this program.

 

"More than half of all Kentuckians work for small businesses," said Rep. Tanya Pullin of Greenup County. "This legislation will encourage small businesses to create jobs all over Kentucky. By creating jobs, small businesses have led the way out of past recessions and I believe it will be small businesses who will lead us out of this recession. I was pleased to sponsor this legislation."

 

Kentucky economic development officials worked with Rep. Pullin, the Department of Revenue, the Commission on Small Business Advocacy and the Kentucky Small Business Development Center to craft the program requirements. Additionally, small business organizations across the state, including the Kentucky Highlands Investment Corporation and Partners for Entrepreneurial Advancement in Kentucky provided input on the program.

 

"The Commission on Small Business Advocacy was very pleased to support the development of the Kentucky Small Business Investment Credit program," said Cathy Zion, chair of the Commission on Small Business Advocacy. "We worked closely with the Cabinet for Economic Development to review proposed program regulations and were grateful for the opportunity to provide comments. This program is a significant step toward helping job-generating small businesses as they continue to power our economy."

 

"I would like to thank Governor Beshear, the Kentucky Legislature, the Kentucky Cabinet for Economic Development, the Commission on Small Business Advocacy and all of the organizations that supported the Kentucky Small Business Investment Credit program," added Becky Naugle, state director of the Kentucky Small Business Development Center. "Their efforts acknowledge the importance of small businesses in Kentucky's economy. Helping Kentucky small businesses grow and add jobs is a giant step in supporting the future of our Commonwealth."

 

Additional information, including a program fact sheet, guidelines and application are available at The Cabinet for Economic Development, which routinely works with small business organizations from across the state to provide resources, advocacy and assistance to entrepreneurs and small businesses. For more information about the Cabinet's other small business programs, visit The Kentucky Cabinet for Economic Development, which is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2009 totaled nearly $ 977 million with the creation of more than 6,600 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.

Bluegrass Business Development Partnership wins EDA innovation award


Editor's note:The Bluegrass Business Development Partnership is an economic development initiative between Lexington city government, Commerce Lexington and the UK Office for Commercialization & Economic Development (UKCED). The Von Allmen Center for Entrepreneurship, the Lexington Innovation & Commercialization Center and the Kentucky Small Business Development Center, including the Bluegrass Small Business Development Center, are part of UKCED.

 

ATLANTA, Ga. (Oct. 25, 2010) —U.S. Assistant Secretary of Commerce for Economic Development John Fernandez today announced the winners of the U.S. Economic Development Administration (EDA) 2010 Innovation in Economic Development Awards during the Southeast Workforce and Economic Development Conference co-hosted by EDA and the U.S. Department of Labor Employment and Training Administration.

 

"The 2010 Innovation Award winners showcase some of the nation's best practices for promoting economic development through collaborative initiatives and highlight outstanding examples of regional success in the global marketplace," said Fernandez. "I congratulate all the winners for their tremendous contributions to strengthen our nation's economy."

 

Formerly known as the Excellence Awards, this year's awards encompass four categories: Innovation in Regional Innovation Clusters (RICs); Innovation in Commercialization; Innovation in Global Export Promotion; Innovation in Green Technology. The winners are:

 

Innovation in Regional Innovation Clusters (RICs) Category:
CONNECT, La Jolla, Calif.

CONNECT is a non-profit organization formed in 1985 with the mission of commercializing technology coming from San Diego's many federally-funded research institutions and offering on-going education, networking and recognition to start-up companies in emerging technology business clusters. The California Governor's Office of Economic Development designated San Diego as one of California's seven Innovation Hubs (iHUB) and CONNECT serves as the leader of San Diego's local iHUB effort.

 

Innovation in Commercialization Category:
Bluegrass Business Development Partnership (BBDP), Lexington, Ky.

Bluegrass Business Development Partnership is a collaboration among the Lexington-Fayette Urban County Government, Commerce Lexington's economic development divisions, and three University of Kentucky based organizations – the Von Allmen Center for Entrepreneurship, the Lexington office of statewide Innovation & Commercialization Centers, and the Lexington office of statewide Small Business Development Centers.

 

BBDP's goal is to be a one-stop, super-service provider, linking small businesses and entrepreneurs with the information they need to be successful. They offer a full range of business development services.

 

Innovation in Global Export Promotion Category: Pennsylvania Center for Trade Development "Envoy Program," Harrisburg, Pa.
The Envoy Program is designed to increase Pennsylvania companies' global competitiveness by providing them with a Pennsylvania Department of Community and Economic Development-supported low-cost, low-risk, and high-performance method of building a continuous and pro-active bilingual sales and marketing presence in international markets. Envoy services vary depending on the needs of the client, but the key concept is to allow the company to employ a representative who is laser focused on implementing the sales plan, pursuing leads, developing customer, agents, and channels.

 

Innovation in Green Technology Category: University of Arizona Tech Park's "Solar Zone," Tucson, Ariz.
The Solar Zone, an innovative strategic partnership between the University of Arizona and Tucson Electric Power is working to create a supportive environment where companies can develop, test and demonstrate the next generation of renewable energy products and technologies. The goals of the Solar Zone are to attract private investment, create sustainable, high-wage jobs, develop a skilled workforce, reduce the region's reliance on traditional energy sources, and educate the public on the importance of sustainable energy.

Allylix releases first product developed from UK technology


Editor's note: Allylix is an industrial biotech company that has its R&D lab at the UK Coldstream Research Campus. Allylix uses proprietary yeast-based fermentation technology developed by the UK College of Agriculture and the Salk Institute for Biological Sciences to produce a group of natural products called terpenes in greater quantities, of higher quality, and at significantly lower cost than traditional sources. With significant commercial value to a variety of industries, Allylix has plans for seven more products in the next two years. Last spring, the company raised $9 million in Series C venture capital from seven investor groups across the country including the Bluegrass Angels in Lexington, Ky. Kentucky Technology Inc., UK's for-profit corporation, was an early investor in Allylix through the Bluegrass Angel Venture Fund along with several individual Bluegrass Angels members.

 

Kerry A. Dolan, posted Oct. 21, 2010
Forbes Magazine dated Nov. 8, 2010

 

In a Lexington, Ky. research lab 16 biologists and chemists are producing aromas and flavors that thus far only nature has been able to make. When their first products, an orange and a grapefruit flavor and fragrance, go on sale in December it could revolutionize a $21 billion industry.

 

The scientists work for tiny San Diego-based biotechnology company Allylix. They have spent five years engineering baker's yeast to produce a variety of smells and flavors. Feed sugar to the altered yeast, ferment it in a 6,000-gallon tank for five days and you have your citrus essence.

 

Currently flavor and fragrance companies must extract the oil from peels to get those tastes and smells, used in beverages and expensive perfumes. But because supply of these fruits is limited and the quantity of desired molecules in the oils is low, the price for the grapefruit product, called nootkatone, is a steep $2,000 a pound. The orange product, valencene, sells for $600 a pound or more.

 

"Long term we're looking at producing these for a fifth or a tenth of the cost. We see opening up new markets in personal care and household cleaning," says Allylix Chief Executive Carolyn Fritz. Allylix has developed six other flavors and fragrances (Fritz won't say what they are yet) and aims to create new markets for those, too.

To read the rest of this article, visit Forbes.com.

Governor Steve Beshear and State Officials Break Ground on the Eastern State Hospital at Coldstream Research Campus


LEXINGTON, Ky. (Sept. 24, 2010) —Governor Steve Beshear joined local leaders, other state officials and representatives from the University of Kentucky (UK) and the Kentucky Community and Technical College System (KCTCS) to break ground for the new Eastern State Hospital facility. The new hospital will be located at UK's Coldstream Research Campus in Lexington. Construction on the project is expected to be complete by fall 2012.

 

Eastern State Hospital The 239-bed, approximately 300,000 square foot replacement facility will provide a modern setting for inpatient psychiatric treatment, along with specialized services for individuals with acquired brain injuries, individuals with psychiatric disabilities requiring nursing facility level of care and forensic mental health services.

 

In addition to the inpatient hospital, the new Eastern State Hospital campus will include three 11,000 square foot personal care homes, each with 16 beds that will offer a less restrictive level of care that promotes patients' return to a community setting. These personal care homes will provide residential psychiatric services and serve as a step-down from the acute care setting.

 

"It's exciting to officially launch the construction of this much-needed facility that will undoubtedly transform how Kentucky cares for individuals with mental health needs," said Gov. Beshear. "Today is indeed a day of celebration for all of those who have played a role in reaching this milestone, including Rep. Jimmie Lee and other strong advocates and family members who have lobbied for this project for many years."

 

"The $129 million facility will replace the 185-year-old Eastern State Hospital, the second oldest psychiatric hospital in the country. The project involves a unique agreement between UK, Bluegrass Community and Technical College (BCTC), the state and the city of Lexington in which Eastern State will move from its campus on Newtown Pike to the Coldstream Research Campus location; BCTC will move from UK's Lexington campus to the current Eastern State location; and UK will take over BCTC's location on Cooper Drive, also providing UK with additional parking.

 

"I am so pleased to be part of finally breaking ground on Eastern State Hospital," said Rep. Jimmie Lee, of Elizabethtown. "The new, state-of-the-art facility will provide inpatient care for adults with acute disorders, persistent mental illness, and inpatient care for psychiatric evaluation, rehabilitation, and many other services for patients and their families at Eastern State Hospital. Working together for many years with the the city of Lexington, the Governor, the University of Kentucky, KCTCS, and the Cabinet for Health and Family Services has made this day a long-awaited vision and dream become a reality for many, many people."

 

"The construction of a new Eastern State Hospital is also the construction of a new era of health care for Kentuckians who suffer from mental illnesses," Lexington Mayor Jim Newberry said. "Just as this new hospital will offer new opportunities to its patients, moving this hospital to Coldstream will offer new opportunities to our city. This remarkable configuration will result in enormous economic development opportunities for years to come."

 

"The incredible and relentless hard work of so many mental health advocates over the years is now reaching a goal that some believed impossible. Their names are many, and all of us celebrating this day know exactly who they are. All of us owe them a huge debt of gratitude," said Sen. Kathy W. Stein, of Lexington. "This day moves us one step further along the road to recognize that mental health is an issue to be dealt with just as we do other diseases—and that the stigma of mental illness is fading away. As a person who has dealt with chronic depression all of my adult life, I am very pleased we are able to mark this day's significance with the building of a state of the art facility to treat so many Kentuckians who need its help."

 

"We look forward to Eastern State Hospital joining our Coldstream Research Campus," said UK President Lee T. Todd Jr. "More than that, however, we are thrilled that this new facility will provide Eastern State's patients and their families with the type of world-class facility that they richly deserve."

 

The plans and specifications for the replacement of Eastern State Hospital were posted on Kentucky's Vendor Self Service System for bid Aug. 30, 2010. Bids for individual trade packages advertised will be received and reviewed by D.W. Wilburn, construction manager for the replacement project. Construction is slated to begin in November 2010. The facility will be Leadership in Energy and Environmental Design (LEED) Certified, meaning it will meet the highest green building and performance measures. Currently, the site is being excavated, including building pads for the personal care homes, parking lots A and B and bridge foundation work.

 

"Once complete, this state-of-the-art facility will offer us the ability to provide expanded services to better meet patient needs," said Cabinet for Health and Family Services Secretary Janie Miller. "Examples include the addition of a neuro-behavioral unit and a geriatric-nursing unit, which will create the opportunity for individuals with acquired brain injuries and elderly patients with severe mental illness to receive needed inpatient psychiatric treatment closer to their family and natural support setting."

 

Eastern State Hospital serves an average of 2,000 patients per year from 80 Kentucky counties. The primary counties served include Boyle, Madison, Franklin, Kenton and Fayette, ranging from 65 to 279 patients annually.

Biotechnology company working on lower back pain treatment moves to the UK Coldstream Research Campus


LEXINGTON, Ky. (Sept. 23, 2010) —Orthopeutics L.P./Intralink Spine Inc., a biotechnology company that is working on an injectable tissue revitalization reagent for the treatment of Degenerative Disc Disease and related lower back pain, has relocated from Texas to the University of Kentucky Coldstream Research Campus. Three employees, including the CEO and the CSO, who will hold a joint UK faculty appointment in engineering and medicine, have moved to Lexington. It is anticipated that additional high-tech positions will be created when the company begins manufacturing the reagent and the medical device.

 

"It was the eagerness of UK's faculty and leadership team to collaborate in the research and development of this potentially game-changing technology that convinced me to make the University of Kentucky my academic home," said Tom Hedman, Ph.D., an MIT-trained and NIH-funded research associate professor who comes to UK by way of Texas A&M University. Hedman founded Orthopeutics and its spin-off company, Intralink Spine, and serves as the Chief Scientific Officer.

 

" Dr. Hedman tells me that he is excited to broaden his research efforts in conjunction with our colleges of engineering and medicine and our neurosurgery department," said UK President Lee T. Todd Jr. "Orthopeutics/Intralink Spine aligns perfectly with our focus on medical devices and pharmaceutical manufacturing at Coldstream."

 

Yesterday Governor Steve Beshear announced that Orthopeutics L.P., parent company of Intralink Spine, will receive an award from the Kentucky SBIR-STTR Matching Funds Program for an NIH SBIR Phase II federal grant. According to Orthopeutics/Intralink Spine CEO and President Eric Hauck, Kentucky's matching funds program for SBIRs and STTRs was the initial impetus to relocate Dr. Hedman's research group from Texas to Kentucky. The company will receive $408,000 in state matching funds.

 

Orthopeutics/Intralink Spine is a client of the Bluegrass Business Development Partnership, an economic development initiative between Lexington city government, Commerce Lexington and the University of Kentucky. UK's Office for Commercialization & Economic Development including the Lexington Innovation & Commercialization Center (joint program of the Ky. Dept. of Commercialization & Innovation and UKCED) and Commerce Lexington started working with Orthopeutics/Intralink at the beginning of the year to find a location in Lexington, make connections at UK, and work with the state Economic Development Cabinet on funding sources.

 

Mayor Jim Newberry said, "Today's announcement is a clear illustration of what can happen when we connect UK brainpower and economic development. As many of you know, our Bluegrass Business Development Partnership is designed to make that connection. It is the combined effort of Commerce Lexington, the university and the city. By focusing on the horse, healthcare and high-tech industries that partnership has brought more than 3,000 jobs to our community since 2007."

 

"Commerce Lexington has thoroughly enjoyed working with Orthopeutics on their relocation to Lexington," said Bob Quick, President and CEO, Commerce Lexington Inc. "We have seen an increase in technology companies considering Lexington for relocations because of our educated workforce, low cost of doing business, and strong partnerships with the University of Kentucky and the city of Lexington. We are excited to welcome Orthopeutics to Lexington!"

 

Dr. Hedman and his research team have already shown that their therapeutic tissue revitalization agent acts almost immediately, is long lasting, and produces a wide range of positive effects including increasing tissue strength, tear resistance, and durability, as well as stabilizing joints, and improving nutritional flow through biologically harsh environments.

 

"Our nonsurgical, novel biomimetic approach replicates the human body's natural response to stabilize and prevent degradation of certain load supporting tissues," said Hedman. "Other than the spinal disc, candidate tissues include the knee meniscus, the larynx and soft palate, and the stifle joint of the horse."

 

"The next steps will be to prepare for clinical trials and work with Dr. Tibbs at UK on refining our delivery protocols," said Hedman. Phillip Tibbs, M.D. is the chair of UK's Department of Neurosurgery and a professor of neurosurgery and physical medicine and rehabilitation. Hedman, whose primary UK appointment is as a Research Associate Professor in Biomedical Engineering, has a joint appointment in neurosurgery.

 

The third Orthopeutics/Intralink Spine employee that moved to Lexington is Paul Slusarewicz, Ph.D., Biochemistry Program Director.

 

Back pain statistics:

  • More than 15 million people per year in the U.S. could receive from this treatment
  • Low back pain (LBP) costs nearly $100 billion annually in the U.S.
  • 85 percent of adults experience LBP during their lifetime, 37 percent are experiencing back pain at any given time
  • 20 percent of LBP sufferers describe pain as severe or disabling
  • LBP is the second most common reason for seeing a physician, third most common reason for surgery

Five high-tech small businesses affiliated with the University of Kentucky receive state matching grants


Editor's note: Five of the seven companies receiving $1.8 million in Kentucky matching funds have ties to the University of Kentucky. The high-tech companies are: Orthopeutics/Intralink (relocated to Coldstream Research Campus from Austin, Texas, Tom Hedman has joined the faculty with a joint appointment in biomedical engineering and neurosurgery), nGimat (working with College of Engineering and the UK Center for Applied Energy Research), 3H Company (located in UK's largest on campus incubator known as ASTeCC, will be moving soon to Coldstream Research Campus), Vindico NanoBioTechnology (located in UK's ASTeCC campus incubator), and Advanced Dynamics (located at Coldstream Resaerch Campus). Company descriptions are at the end of the press release.

 

LEXINGTON, Ky. (Sept. 22, 2010) —Gov. Steve Beshear announced awards totaling more than $1.8 million to seven Kentucky high-tech companies as part of a Kentucky initiative to attract and support technology-based small businesses. Through the state's competitive SBIR-STTR Matching Funds program, Kentucky matches federal SBIR-STTR awards received by Kentucky companies or those willing to relocate to Kentucky. This seventh round of state awards supplements more than $2.4 million in federal funding made to the firms.

 

The state matching funds were awarded after the high-tech firms received grants in Phase 1 or Phase 2 of the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Kentucky is the first and only state to match both phases of the federal program: up to $150,000 to match Phase 1 federal awards and up to $500,000 per year to match Phase 2 federal awards. To date, the state's SBIR-STTR matching program has made a total of 91 awards to 52 Kentucky high-tech companies for a combined $20.5 million in state funds, leveraging more than $37.4 million in federal funds. The program has also helped bring 10 new high-tech businesses to the Commonwealth to benefit from the matching funds.

 

"Kentucky's unique program is widely recognized as the top SBIR-STTR matching program in the nation," said Gov. Beshear. "Not only do these awards help support our high-tech small businesses, they bring in tens of millions of dollars in federal funding that indirectly benefit other Kentucky companies and their employees who provide products and services in support of our research industry."

 

The seven Kentucky companies receiving matching funds specialize in areas as diverse as human health and development, energy, nanotechnology, bioscience, materials science and advanced manufacturing.

 

Company descriptions:

nGimat Co., which relocated from Georgia to Lexington, will initially develop advanced energy storage nanomaterials for use in next-generation lithium-ion automotive batteries, as well as in energy storage components for the emerging electrical smart-grid. nGimat's facility will also produce nanopowder using the company's proprietary process. www.ngimat.com

 

Advanced Genomic Technology LLC, of Louisville, is developing a genetic test to identify specific disease biomarkers in patients who have Alzheimer's disease. www.advancedgenomictechnology.com

 

Talon Technologies, of Covington, is developing a high-performance flexible conduit for use with the Army's rapidly installed fuel transfer system during active combat deployments.

 

Orthopeutics Inc., which relocated from Texas to Lexington, is developing a nonsurgical treatment for degenerative disc disease and associated lower-back pain. The treatment involves injecting a tissue revitalization material into the spinal disc to mechanically reinforce and stabilize the joint and decompress the surrounding neural tissues without the need for invasive spinal surgery. www.intralink-spine.com

 

3H Company LLC, of Lexington, is developing technology that captures and stores carbon dioxide underground to help reduce greenhouse gas emissions from coal-fired power plants. The company's novel absorbent also helps reduce energy loss during the coal capture process.

 

Vindico NanoBio Technology Inc., of Lexington, is developing a synthetic oxygen therapeutic, a blood substitute, that can be administered to patients and help reduce blood shortages. www.vindicopharma.com

 

Advanced Dynamics Inc., of Lexington, is developing software that enables more accurate designs of aircraft wings and rotor blades, while providing rapid and reliable aeromechanics assessment. www.advanceddynamics-usa.com

 

The Cabinet for Economic Development, through its Department of Commercialization and Innovation (DCI), manages the Kentucky SBIR-STTR Matching Funds program, which is administered under contract to DCI by the Kentucky Science and Technology Corporation (KSTC).

 

"Kentucky's SBIR-STTR matching program has generated a lot of interest nationwide," said DCI Commissioner Deborah Clayton. "Not only have the awards brought 10 high-tech firms – and their jobs – to Kentucky from other states, but they have greatly increased the number of Kentucky companies that are applying for and winning federal SBIR and STTR awards."

 

Applications for each round of the program are accepted by KSTC on a regular basis. A link to the online guidelines and application form for the Kentucky program are posted at www.ThinkKentucky.com/dci/SBIR.

United States Equestrian Federation Equine Drug Testing and Research Lab moving to UK's Coldstream Research Campus


LEXINGTON, Ky. (Sept. 17, 2010) —Already the site of the 2010 Alltech FEI World Equestrian Games, First Lady Jane Beshear announced Lexington will be the location of the United States Equestrian Federation's (USEF) Equine Drug Testing and Research Laboratory. USEF will relocate the specialized equine drug testing facility from Ithaca, NY later this year, creating a dozen specialized new jobs and a capital investment of nearly $1.5 million to the Commonwealth.

 

"USEF's equine drug testing and research lab will be an excellent addition to the Commonwealth, already known as the Horse Capital of the World," said Mrs. Beshear. "The creation of a dozen, high-paying jobs, dedicated to providing and maintaining a safe and level playing field for equine athletes, will have a positive effect on the Lexington community."

 

The University of Kentucky's Coldstream Research Campus will be home to the new facility, which is expected to occupy a 7,500-square-foot space. In addition to testing more than 15,000 samples each year collected from USEF licensed competitions across the country and samples from the American Quarter Horse Association (AQHA), the USEF's lab will be fully capable of serving any additional needs for equestrian sport.

 

"Our facility is one of the world leaders in cutting-edge drug testing and research," said John Long, CEO of the USEF. "During the last few years, the size and scope of our program has nearly doubled. Growth of this size presents challenges and we look forward to meeting those challenges by relocating our facility closer to our headquarters, in the heart of Lexington."

 

Before making its transition to Lexington, the lab in Ithaca will be responsible for processing the samples collected during the 2010 Alltech FEI World Equestrian Games. The lab is one of only five in the world used by the Fédération Equestre Internationale (FEI) to receive samples collected at FEI competitions.

 

In addition to the relocation of the lab, Mrs. Beshear also announced a partnership between USEF, the U.S. Eventing Association and the University of Kentucky's College of Engineering that will have a significant impact on safety in the equestrian sport of eventing. An Olympic sport and part of the World Equestrian Games, eventing includes dressage, cross country and stadium jumping.

The UK research team is working to develop new designs and new materials for cross country jumps that will greatly decrease the chance of severe injuries to the rider and horse. While these injuries are infrequent, the severity of the injury has led a worldwide effort to reduce their occurrence and improve eventing safety.

 

"We are very proud to be in partnership with USEF," said UK President Lee T. Todd Jr. "Having this lab at Coldstream provides great synergy between USEF and our researchers, and will attract even more equine-related businesses to our research campus. Currently, there are seven equine-related companies and the UK College of Agriculture Veterinary Diagnostic Laboratory (formerly the UK Livestock Disease Diagnostic Lab) at Coldstream."

 

Established in 1917, USEF serves as the National Governing Body for Equestrian Sport. The federation trains, selects and funds the United States Equestrian Team which consistently wins medals at the highest level of international competition, including the Olympic Games. The USEF also licenses 2800 equestrian competitions of all levels across the United States each year in 28 different breeds, national disciplines and international disciplines.

 

"We have some of the world's top equine researchers at the University of Kentucky Gluck Center and the world's best horses. USEF will be a welcome addition," said Lexington Mayor Jim Newberry. "This is another clear example of the capacity of the horse industry and the strength of UK research to attract good jobs to our community."

 

"Commerce Lexington is excited that USEF has chosen to relocate its equine testing lab to Lexington," said Bob Quick, president and CEO of Commerce Lexington Inc. "Having a world-class lab in Lexington will only strengthen our standing as the Horse Capital of the World. Congratulations to USEF on their expansion in the Bluegrass."

 

USEF was preliminarily approved by the Kentucky Economic Development Finance Authority for up to $300,000 in tax incentives through the Kentucky Business Investment program. The performance-based incentive can be earned over a 10-year period through corporate income tax credits and wage assessments. The average annual approved amount to be earned by USEF is $30,000.

 

A detailed community profile for Lexington (Fayette County) can be viewed at Lexington Community profile. Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com.

George Ward named executive director of Coldstream Research Campus


LEXINGTON, KY (September 14, 2010) — The University of Kentucky Board of Trustees approved the appointment of George Ward as the new executive director of the university's Coldstream Research Campus.

 

George WardWard, who has served as a Kentucky commerce cabinet secretary, has 30 years of executive experience in hotel and real estate development, finance and business operations, and government relations.

 

"We believe that George has all of the qualifications and experience that will be critical to take Coldstream Research Campus to the next level," said University of Kentucky President Lee T. Todd Jr.

 

Last year, consultants were hired to update the Coldstream master plan according to UK Vice President for Commercialization & Economic Development Len Heller. Heller and Ward will announce the new long term vision for Coldstream and details on the first phase of development later this year. 

 

"Serving as the executive director of the Coldstream Research Campus fulfils a personal goal to utilize my business and marketing skills and past experience to contribute to Kentucky's future," said George Ward. "I consider it an honor to be part of the team that is assisting Dr. Todd in fulfilling UK's economic development mission as the land-grant institution and economic engine for the Commonwealth."

 

Ward, who was president of H&W Management Co. Inc., a regional hotel development and real estate company, for 18 years, was appointed Kentucky State Parks commissioner in 2004 and later served as Kentucky Commerce Cabinet secretary until December 2007. Most recently, he has worked with Transposagen Biopharmaceuticals Inc., an early stage biotech company that relocated to Lexington from Philadelphia, Pa. and is located in UK's ASTeCC campus incubator. Ward also serves on the board of directors of Commerce Lexington and is a member of the Bluegrass Regional Public Policy Council.

 

Coldstream Research Campus is currently home to some 65 companies and more than 1,000 employees. The companies at Coldstream include IBM, HP, Embassy Suites Hotel, the UK Veterinary Diagnostic Laboratory (formerly the UK Livestock Disease Diagnostic Lab), Kentucky's largest sterile pharmaceutical manufacturing facility Coldstream Laboratories Inc., and other biotech, pharmaceutical, equine-related and service businesses.

 

Ward has lived in Lexington since 1984. He and his wife, Lorie, have six children, including three children currently enrolled at the University of Kentucky.

Larry Kranking named CEO of Coldstream Laboratories Inc.


LEXINGTON KY (August 23, 2010) — Larry Kranking has been named the new President and CEO of Coldstream Laboratories Inc. (CLI), the largest sterile pharmaceutical manufacturing facility in Kentucky.

 

Kranking, who comes to CLI from Aveta Lifesciences-usa in Valparaiso, Ind., has 38 years of experience as a pharmaceutical executive leading start-up companies and implementing innovative regulatory strategies. Kranking will head a staff of 70 who provide full service GMP sterile manufacturing services for international biotech and pharmaceutical clients who require small batches of product for use in pre-clinical trials to commercial distribution.

 

"Larry is an internationally recognized industry leader who has helped develop the guidelines that define today's biopharma manufacturing world," said Len Heller, chairman of the board of CLI. "Larry also brings expertise in the area of ANDA drug development which will be important to CLI as we move into our fourth year of operation," said Heller, who also serves as the University of Kentucky Vice President for Commercialization & Economic Development.

 

"CLI is in an excellent position to expand our customer base and services as we leverage the University of Kentucky's position as a premier research institution and global leader in cancer research and drug development," said Larry Kranking, whose business operations experience includes the startup of cGMP manufacturing facilities for Boehringer Ingelheim and Eisai Inc. "We want to position Coldstream Laboratories as the bridge between drug discovery and commercial business."

 

Kranking replaces Joe Wyse who transitioned CLI from the University of Kentucky Center for Pharmaceutical Science & Technology to a private business in 2007. "Joe has done a tremendous job the past three years navigating all of the issues and regulations inherent in a start-up business and a cGMP pharma operation while starting to build an international client base," said Heller.

 

Coldstream Laboratories Inc., located at the Coldstream Research Campus, is wholly owned by the University of Kentucky through the University of Kentucky Research Foundation.

Coldstream's barn owls fledge, nesting box installed


LEXINGTON, KY (July 28, 2010) — Coldstream's temporary tenants, a pair of federally protected barn owls and their chicks, have fledged and a permanent nesting box has been installed. Barn owls have what scientists call a high "nest fidelity," meaning they often return to the same nest each year.

 

Barnowl"The owls will come back and find their nest has been closed up and hopefully they will find our box to be suitable since it's so close (to the original nest)," said Kate Heyden, an avian biologist with the Kentucky Department of Fish and Wildlife Resources. The new nesting box was installed near the owl's original nest near the top of the Lexhold building and provides a plywood space 2.5 ft. wide and 1ft. high.

 

"I watched one of the chicks take its first flight," Heydon said. "It flew to the rooftop ... of the building, then took many small flights from there to build up its strength."

 

She said the owl family might still be seen around the building for the next month or so and the adults will stay in the area through the winter. The owls were first discovered in June by a construction worker who was completing final detailing on the building. Wildlife officials were called in and construction halted until the young birds flew away.

 

Biologists think the numbers of barn owls are decreasing because the owls like to nests in old trees with hollow spaces or in hay barns or other old buildings that are becoming increasingly scarce.

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