FHA Loans in Kentucky
About This State and its People, Places, and Industries
The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state. Kentucky is one of four U.S. states constituted as a commonwealth (the others being Virginia, Pennsylvania, and Massachusetts). Originally a part of Virginia, in 1792 it became the 15th state to join the Union. Kentucky is the 37th largest state in terms of total area, the 36th largest in land area, and ranks 26th in population.Kentucky is known as the "Bluegrass State", a nickname based on the fact that native bluegrass is present in many of the pastures throughout the state, based on the fertile soil. It made possible the breeding of high-quality livestock, especially thoroughbred racing horses. It is a land with diverse environments and abundant resources, including the world's longest cave system, Mammoth Cave National Park; the greatest length of navigable waterways and streams in the Lower 48 states; and the two largest man-made lakes east of the Mississippi River. It is also home to the highest per capita number of deer and turkey in the United States, the largest free-ranging elk herd east of Montana, and the nation's most productive coalfield. Kentucky is also known for thoroughbred horses, horse racing, bourbon distilleries, bluegrass music, automobile manufacturing, tobacco, and college basketball.
The total gross state product for 2006 was US$146 billion, 27th in the nation. Its per-capita personal income was US$28,513, 43rd in the nation. Kentucky's agricultural outputs are horses, cattle, tobacco, dairy products, hogs, soybeans, and corn. Its industrial outputs are transportation equipment, chemical products, electric equipment, machinery, food processing, tobacco products, coal, and tourism. The Eastern Kentucky Coal Fields are recognized as being among the most productive in the nation.
Kentucky ranks 4th among U.S. states in the number of automobiles and trucks assembled. The Chevrolet Corvette, Cadillac XLR (2004–2009), Ford Explorer, Ford Super Duty trucks, Ford Excursion (2000–2005), Toyota Camry, Toyota Avalon, Toyota Solara, and Toyota Venza are assembled in Kentucky.
Unlike many bordering states which developed a widespread industrial economy, much of rural Kentucky has maintained a farm based economy, with cattle, corn, and soybeans being the main crops. The area immediately outside Lexington is also the leading region for breeding Thoroughbred racing horses, due to the high calcium content in the soil (from the underlying limestone) making the pastures especially productive. Despite being the 14th smallest state in terms of land area, Kentucky still ranks 5th in the total number of farms, with more farms per square mile than any other U.S. state. The average farm size in Kentucky is only 153 acres (0.6 km2). Kentucky ranks 5th nationally in goat farming, 8th in beef cattle production, and 14th in corn production. As of January 2010, the state's unemployment rate is 10.7%.
Kentucky is the home of several sports teams such as Minor League Baseball's Class A Lexington Legends and AAA Louisville Bats. They are also home to the Frontier Leagues Florence Freedom and several teams in the MCFL. The Lexington Horsemen and Louisville Fire of the af2 appear to be interested in making a move up to the "major league" Arena Football League. Major league teams in nearby cities, typically have strong fan support depending on the part of the state, with Nashville teams having strong fan support in South Central and most of Western Kentucky, Nashville and St. Louis teams competing for loyalties in the Purchase, Indianapolis, Cincinnati and Chicago teams predominating in the Louisville area, and Cincinnati teams having strong support in Central and Eastern Kentucky. The northern part of the state lies across the Ohio River from Cincinnati, which is home to a National Football League team, the Bengals, and a Major League Baseball team, the Reds. It is not uncommon for fans to park in the city of Newport and use the Newport Southbank Pedestrian Bridge, locally known as the "Purple People Bridge," to walk to these games in Cincinnati. Many restaurants and stores in Newport rely on business from these fans. Also, Georgetown College in Georgetown is the location for the Bengals' summer training camp.
As in many states, especially those without major league professional sport teams, college athletics are very important. This is especially true of the state's three Division I Football Bowl Subdivision (FBS) programs, including the Kentucky Wildcats, the Western Kentucky University Hilltoppers, and the Louisville Cardinals. The Wildcats, Hilltoppers, and Cardinals are among the most tradition-rich college basketball teams in the United States, combining for nine championships and 22 NCAA Final Fours; and all three are on the lists of total all-time wins, wins per season, and average wins per season. The Kentucky Wildcats are particularly notable, leading all Division I programs in all time wins, win percentage, NCAA tournament appearances, and being second only to UCLA in NCAA championships. Louisville has also stepped onto the football scene in recent years, with eight straight bowl games, including the 2007 Orange Bowl. Western Kentucky, the 2002 national champion in Division I-AA football (now Division I Football Championship Subdivision (FCS), is currently transitioning to Division I FBS football. Ohio Valley Wrestling in Louisville was the primary location for training and rehab for WWE professional wrestlers from 2000 until February 2008, when WWE ended its relationship with OVW and moved all of its contracted talent to Florida Championship Wrestling.
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