Hey, Donnie,
Tilapia are several species from the Cichlid family, which is roughly the tropical equivalent of the Centrarchidae family we know well from it's black bass, sunfish, and other members. The Tilapia themselves are somewhat analogous to the sunfish members of the Centrarchidae.
Tilapia are typically prodigious breeders, eat a large variety of food, and can grow rapidly given they have enough to eat. Being tropical fish, they will not overwinter in most of the continental USA. Mozambique Tilapia, the only species legal in Texas and perhaps the variety best known to PB forum members, dies off as the water cools off below 55 degrees F in the Fall/Winter. Therefore except for the Southern edges of the USA, Tilapia must be restocked each Spring.
Tilapia have proven to be excellent forage for bass and very useful at greatly reducing Filamentous Algae ("FA", aka pond scum) in Texas and other Southern states where their growing season lasts 8 or 9 months. They even seem to successfully reduce bottom muck from older ponds! Since you (and I) are farther North, we would get less productivity out of Tilapia each year before they died off. For this reason, I do not believe Tilapia are warranted for use in Kentucky as of now, but there is more than one pondmeister experimenting with Tilapia as far North as Indiana and we will probably have more information on what benefits they can provide in this region by next Winter.
My advice would be not to worry about stocking Tilapia in you new pond this year, but keep track of the results Northern pondmeisters get with this fish and consider if they would be good for your pond in the future.
The March/April 2005 issue of Pond Boss magazine, available
here , has a great article by Bob Lusk and Larry "Meadowlark" Hartley which is an excellent intro to Tilapia.