Bowling Green is a city in Southern Kentucky with a population of at least 71,000 people. It houses well-known attractions like the National Corvette Museum, home of the iconic sports car, and the Kentucky Museum, with its comprehensive Civil War exhibit. It also showcases the Lost River Cave, with its large cavern accessible by boat, and the Beech Bend, a combined amusement park, race track, and campgrounds. Bowling Green has a lot of parks and good public schools, plus it holds races, festivals, and other yearly events.
On top of that, Bowling Green has been named one of the Top 20 US Cities for Manufacturing by Global Trade Magazine. The city is home to 22 global manufacturing companies and contributes $1.1 billion to US exports. All these are good enough reasons to take out a home loan and buy your second home in Kentucky. But wait, there’s more.
A Windfall
On August 5, Dollar General Corporation, a huge chain of variety stores in the United States, announced that it’s pouring in $26 million on expansion projects in the region. This initiative includes a DG Fresh cold storage facility in Bowling Green and a distribution center in Walton—both in Kentucky.
Though this primarily means better access to the chain’s supplies, it also translates to an economic boost for the city and the state. Not only will the company’s in-house workers inject new cash flow into the region, but locals can benefit from both direct and indirect employment opportunities. It’s a big deal now because of the economic impact of the pandemic on many businesses and industries.
With a rosy outlook for the city, would you like to jump in and be part of the brewing economic boom? How can you maximize this opportunity?
Business Opportunities in Bowling Green
Given the possible influx of capital and people—contractors, transport services, workers—anticipate increased demand for certain products and services. This is where you can create opportunities, such as the following:
Healthcare. There are at least four major hospitals in Bowling Green, KY and multiple urgent care facilities. While COVID-19 isn’t that huge in the city—with over 2,600 cases and 22 deaths, as of this writing—an additional provider or a specialist practice won’t upset the healthcare ecosystem. Preferably, you must be able to provide efficient telehealth services. If you’re moving in, make sure you have the proper licenses and permits to start a practice in the area.
Housing. More than 4,000 people look for homes for sale in the city each month, based on search results. Are you an agent who knows properties for sale or rentals in the area? Start creating your listings now because you’ll soon have a healthy market. Are you a residential contractor? Build your portfolio; you might be making a client call soon. Are you a mortgage broker, ready to propose the best rates?
Food Trucks. These trucks are a thing now; in fact, there might be a lot of competition. Food trucks help keep people fed while limiting mobility and, in a way, keep social distancing. They also abound in major metros, giving diners variety without having to travel far. Food trucks in big cities can earn as much as $20,000 to $50,000 a month, while trucks in smaller metros earn $5,000 to $16,000. If you can provide a product no one else does, you’ll gain a captive market.
Financing. A new distribution center means increased activity in the city. And you know how businesses go. Once a big company moves into a place, related businesses and the competition often follow. Expect individuals and families to start moving in or transact more in Bowling Green. They would soon require home construction or improvement, education for their children, cars, insurance, and stuff like that. For these, they may require financing. If you’re an insurance agent, lender, broker, accountant, or financial consultant, ensure your capabilities for better profitability.
New developments and investments are always good news, especially during the pandemic. It doesn’t hurt to explore possibilities in Kentucky, whether you’re a resident or planning to move to the state, to raise your income potential. There’s plenty of room for everyone.