The Urban League of Lexington-Fayette County will receive $1.1 million in federal stimulus funds to support broadband Internet training in Lexington neighborhoods. Lexington is one of seven communities nationwide to receive funding through the federal Broadband Technology Opportunity Program. Mayor Jim Newberry said Connect Your Community will work hand-in-hand with the expanded wireless network the city is establishing in large parts of downtown to enhance public safety, spur economic development and increase residents’ Internet access.
Lexington-based ParaTechs Corp. has received $120,000 from Kentucky’s High-Tech Investment Pool, which is used to build technology-based and research-intensive companies and projects. The biotechnology company, which is a client of the Lexington Innovation and Commercialization Center, creates products used for protein production for use in vaccines and therapeutics. The company also markets a non-surgical embryo transfer device for researchers who use laboratory rodents in a wide range of medical research, including cancer, Alzheimer’s and diabetes studies. ParaTechs anticipates creating seven new high-tech jobs paying an average annual salary of at least $55,000.