By Rebecca Feldhaus
http://stream.publicbroadcasting.net/production/mp3/wkms/local-wkms-926999.mp3
Cadiz, KY – In the small downtown of Cadiz, Kentucky, Cher Loose plays her radio as she welcomes visitors to her shop, Loose Treasures. The shop opened in 2004 and despite the constant fear of closing, she's continued to enjoy her endeavors in retail. Loose says it's been a rough road for small business in Cadiz.
"It used to be thriving, I guess, and then when they built the bypass, apparently, people didn't come to Cadiz anymore. So the little town, like many little towns, became far off the beaten path and became empty."
It's a problem recognized by many, including President of the Business Incubation Projects of Western Kentucky Linda Humbert. Humbert and colleague Kathy Tessier began their non-profit corporation just this year. The non profit receives federal grants to fund these specific projects from a pool of $220 million.
"The whole purpose is to bring some of those businesses together within the project, and part of it is to give them an advantage with lower operating costs, little bit lower cost per square foot for rent, we cover utilities, we cover maintenance on the building, that sort of thing."
Humbert and Tessier have two major projects. The first of these is Destination Cadiz, which looks to receive $5 million in grant funds. It will be a 15,000 square foot, two-story building housing restaurants, shops, galleries and offices for Adventure Tourism. The second business, Green Tech Business Center, expects $3 million in grants. It will be in the county near I-24. Humbert says Green Tech will focus on bringing start-up companies to the burgeoning green jobs field.
Trigg County's battle with a high rate of unemployment and other factors are the exact reasons the projects have been passed through the grant process so quickly. Humbert explains.
"This particular type of grant program is targeting strictly to areas that are very disadvantaged. So for instance, Christian County is directly to our east, they're not as disadvantaged as Trigg County, so they're not going to qualify for these particular grants, but we do think that we'll see some growth within the private sector just because we're bringing that type of industry here."
Information from Workforcekentucky.ky.gov shows Trigg County's unemployment rate in 2009 as 15.3 percent, more than 5 percent more than the state average. From January through July of 2010, the rate has decreased from 16.2 percent to 10.2 percent. Though the figures are encouraging, Humbert is concerned those statistics neglect those who no longer qualify for unemployment benefits. Kentucky Office of Employment and Training chief labor market analyst Dr. Justine Detzel says that's not the case.
"The only way people would be counted as not being unemployed is if they have stopped looking for work."
Detzel says it's often misunderstood that when unemployment benefits run out, the state no longer counts the person in the unemployment statistics. Detzel says her office conducts a monthly census count from 60,000 households, to track unemployment.
Though the recession is harsh on unemployment tallies, Detzel says there is a silver lining.
"Some of the major companies do form during recessionary periods just because it's cheaper if you're looking to build or to expand, you can do so a lot more cheaply because of the fact the economy is in a recession. Your construction costs are going to be lower."
She says there is a catch. Owners must have the start-up capitol to take advantage of the low rates.
Humbert and her seven-member board plan to take advantage of those rates with the two new projects, one of which would be right down the road from Cher Loose's shop. Loose says she and her husband, who's been unemployed for two years, plan to apply for a space in the new center to open another store. With the steady support of the new Business Incubation projects, she might get the help she needs. She says she's never lost hope in her town.
"Cadiz, Kentucky is about the best little American town I've ever been in because it has the heart and soul like when they talk about a baseball player, maybe he's not big or strong, but he can still hit that ball because he has heart. Well I think everybody I've ever met in Cadiz has that same kind of heart."
Should the final stage of the grants come through, the Loose's would vie for one of 20 spots at Destination Cadiz. Humbert and her board expect the full grant to come through sometime this month.