Mayor Craig Greenberg announced a year of growth for Louisville’s economy, celebrating record-breaking job creation and unprecedented support for small businesses, despite increases in unemployment across the city over the last two years.
Small businesses benefited significantly in 2024, with 21 enterprises receiving Metropolitan Business Development Corporation (METCO) loans totaling $5.1 million. These loans leveraged an additional $59.3 million in private investment.
According to the mayor’s office, there were four notable recipients of these loans highlighted, which include:
- Locals Food Hub and Pizza Pub, LLC: Received $200,000 for startup costs and working capital.
- Talk Childcare To Me, LLC: Secured $100,000 for temporary location expenses.
- Halevi Bros. at 770, LLC: Granted $300,000 to renovate a property for transitional housing for unhoused youth.
- Hadley Continuum Factory: Awarded $200,000 to purchase a state-of-the-art Blau kiln.
“Great things are happening in Louisville. I am excited to celebrate the tremendous growth we’ve seen in our economy and the progress we are making toward becoming a safer, stronger, and healthier Louisville for everyone,” said Mayor Greenberg. “I want to thank the companies that are investing and growing in our city, as well as the Louisville Economic Development Alliance team who brought these projects to our city.”
Despite these achievements, challenges remain. Louisville’s unemployment rate has risen steadily since 2022, increasing from 3.5% in April 2022 to 4.5% in October 2024, according to the U.S. Bureau of Labor Statistics.
Money coming from the government to businesses through Mayor Greenberg’s latest budget included $1.5 million in “new economic development authority” which can be used in investment in new businesses across the city.
This article appears in Dec 18, 2024 – Jan 16, 2025.
