Lexington Business News – July 2021

Lexington Business News – July 2021

BANKS, BUSINESS, AND COMMERCE 

Lexington’s new baseball and softball training center opened in June.

Limestone Bank celebrated their Grand Opening in the Fountains at Palomar with a ribbon cutting.

 

Starbucks City Center hosted a grand re-opening and ribbon cutting celebration. 

 

A ribbon cutting celebrates a re-brand.

 

We’re Number 5!

Kentucky recently tied for fifth place nationally on Site Selection magazine’s 2021 Prosperity Cup list, an annual ranking of the top U.S. states for business climate. Kentucky moved on up from last year’s ranking at number 9. In 2020, Kentucky announced 233 new location and expansion projects, according to data from the Kentucky Cabinet for Economic Development. Those projects are expected to create nearly 8,000 jobs with the highest average hourly wages in years. The state’s April sales tax receipts set an all-time monthly record at $486.5 million, as did vehicle usage tax receipts at over $64 million.

 

CONSTRUCTION AND DEVELOPMENT

A new $8 million parking deck will replace the downtown parking garage on the corner of West High and South Mill streets that collapsed in February. The new parking garage is scheduled to be completed in the summer of 2022.

The upper deck of a parking garage at the corner of Mill, High, and Vine, collapsed early on February 18.

Construction has begun on FIFTEEN51, a 260-unit residential complex in the University of Kentucky’s Coldstream Research Park off Newtown Pike. The new complex will house workers in an effort to attract more businesses to the location and create a dynamic live-work-play-innovate environment.

Lexington Clinic begun demolition on the old clinic.

 

HOSPITALITY

Courtyard by Marriott Lexington South hosted a grand re-opening open house and ribbon cutting in Hamburg.

 

INNOVATION

Rubicon is moving its global headquarters to Lexington. The company is committed to helping governments and businesses find ways to solve their waste and recycling needs in order to be more sustainable.

University of Kentucky has partnered with NASA to help launch a $15 million Space Technology Research Institute (STRI). The new STRI is called Advanced Computational Center for Entry System Simulation (ACCESS) and will focus on the creation of thermal protection systems. ACCESS, which builds upon past NASA and NASA Kentucky funding, will receive approximately $15 million over five years, and roughly one-fourth of the amount will be awarded to UK. The university will also be contributing an additional $1.4 million to the project.

 

PLANES, TRAINS, AND AUTOMOBILES

Allegiant has begun a new nonstop route from Blue Grass Airport (LEX) to William P. Hobby Airport (HOU) in Texas. The new route will operate twice weekly. 

Blue Grass Airport plans to resurface its main runway (Runway 4-22) from 6 pm on Thursday, August 19 through 6 pm on Sunday, August 22. During this time, the airport will be closed to all fixed-wing commercial and general aviation aircraft. Helicopters will still be able to use the airport, and the terminal building will remain open.

During the months before and after the 72-hour period, the airport is conducting preparatory work during the overnight hours when flights are not active. This work includes activities such as surveying and removing in-pavement lighting leading up to the closure, and then grooving, installing in-pavement lighting and placing permanent markings in the months following the closure.

 

PEOPLE

Robert Stack retired as Director of Enhanced 911 (E911) for the City of Lexington.

Leadership Kentucky announced its Leadership Kentucky Class of 2021. Participants from Fayette County include:

  • Yukie Cooper, Gray Construction
  • Chris Crumrine, University of Kentucky
  • Jamie Dittert, Sturgill, Turner, Barker & Moloney PLLC
  • Amy Doane, Bluegrass Care Navigators
  • Rob Duncan, Dinsmore & Shohl LLP
  • Kelly Holland, Merck & Co. Inc.
  • Eric King, University of Kentucky
  • Brien Lewis, Transylvania University
  • Ann-Phillips Mayfield, Northwestern Mutual, Lexington Office
  • Ethan Witt, Eastern Kentucky University

Nelson Murphy has been named Transylvania University’s vice president for finance and business.

 

EVENTS

July 8         Commerce Lexington Inc. Public Policy Over Lunch Series, noon to 1 pm, Central Bank Center

July 19        Kentucky Chamber’s Inaugural Women’s Summit presented by Brown-Forman, Central Bank Center

 

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This article also appears on page 5 and 6 of the July 2021 print edition of ace magazine.

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