The power of collaboration is alive and well in the Greater Lexington region. Commerce Lexington’s Economic Development Division focuses its energies on assisting area businesses with retention and expansion, as well as recruiting new business investment in the Bluegrass. Companies considering the area for their home will find a network of economic development professionals, service providers and government officials ready to help them navigate the site-selection process.
The Greater Lexington area has many attributes that make it attractive to business and industry from around the world. The region boasts one of the most educated workforces in the country, a central location with access to two major interstates and multiple airports within a short drive, low business costs, a high capacity for innovation, and exceptional quality of life. Combine that with quality healthcare, excellent schools, affordability, diverse economy and landscape, and numerous shopping and dining options and it’s easy to see why so many global brands have found this to be the perfect home for their business and their employees.
Recent regionalism efforts throughout our nine-county economic development area have been amplified thanks to the ongoing Regional Competitiveness Plan, which aims to increase our ability to compete for jobs and talent through specifically targeted action items. These include increased investment in regional branding, marketing, and site-selector awareness; support for a multi-jurisdictional product-development strategy to secure shovel-ready land and buildings; and advocacy for regional economic development needs.
When companies express interest in relocating or expanding in Fayette County, a coordinated effort of the Lexington Economic Partnership maximizes resources to provide the best possible service. The group includes representatives from state and local economic development agencies, higher education institutions like the University of Kentucky and Bluegrass Community and Technical College, as well as the Bluegrass Workforce Innovation Board.
Vibrant, structured local entrepreneurial support helps drive a growing startup community. Lexington ranked 17th on the 2023 Best of the Midwest Startup City Rankings, which gauges how cities are performing in their tech ecosystems. The Bluegrass Tech Task Force, a collaboration of Commerce Lexington—community partners and a variety of tech employers—works to enhance and grow the industry regionally.
Within our Economic Development Division, the Community and Minority Business Development program promotes and sustains growth and development of minority-owned businesses by helping with planning, financing and improved purchasing and procurement opportunities. Celebrating 10 years of success, the Minority Business Accelerator participants have won more than $44 million cumulatively in procurement contracts since the program’s launch.