Lexington, Ky. – Covington-based Ashland, a Fortune 500 global leader in specialty chemical solutions and parent company of Valvoline, announced plans to invest nearly $35 million in a new office building within the company’s Lexington campus.
The new building will house employees from Valvoline, which has been based in Lexington for more than 30 years, as well as other Ashland employees currently based on the Lexington campus who are working in a variety of supporting resource group functions.
The building will be constructed on the company’s existing campus on Palumbo Drive, where it currently leases space in two office buildings that were developed for Ashland in the early 1980s.
“This campus has been home to Valvoline for more than three decades, and we’re delighted to renew our commitment to Lexington through this exciting development,” said Sam Mitchell, Ashland senior vice president and Valvoline president. “We are grateful for the tremendous support shown by the Lexington-Fayette Urban County Government, Commerce Lexington and the Commonwealth of Kentucky, as well as by the entire local community.”
Ashland and Valvoline have been part of the Lexington community for more than 30 years. Approximately 600 employees currently work in Lexington.
“It’s great to have a globally recognized corporate citizen like Ashland here in our community. It’s one way we tell the world that Lexington is a great place to do business,” Lexington Mayor Jim Gray said. “Since 2011, Lexington’s unemployment rate has been cut by more than half. Companies are moving here and growing here. Lexington is competing and winning with a high quality of life, outstanding educational opportunities and state and unique local incentives. We work to attract jobs every day.”
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