Welcome to Lexington, Kentucky's connection to starting your business in the heart of the world-renowned Bluegrass. The Bluegrass Business Development Partnership is a one-stop, super-service provider linking you with our team of business development specialists from local government, Commerce Lexington Inc., and the University of Kentucky.
We can provide assistance with:
> business and financial plans;
> loan programs and tax incentive information;
> connections to funding sources;
> access to service providers such as accountants, lawyers, marketing, public relations, and advertising;
> real estate;
> executive mentoring and consultation;
> university commercialization opportunities.
The Bluegrass Business Development Partnership is located in the heart of downtown Lexington, Kentucky, at the corner of East Main and Rose streets. To learn more, visit www.ThinkBluegrass.com.
The region serves as a health care, retail, and cultural center for both Central and Eastern Kentucky. Whether you’re seeking employment or looking to start a business, Lexington is among the top cities in the nation for entrepreneurs. In 2006, the city was rated 21st among the Best Places for Business and Careers by FORBES magazine.
Lexington and the surrounding area’s robust economy are due in large part to its diversification of employment opportunities. Its largest employment sector, the services industry, accounts for roughly 41-percent of total jobs (Bureau of Labor Statistics 2004 Annual Averages). Most of the remaining employment is dispersed among government, retail trade, manufacturing, and construction. As a result of these diverse opportunities, Lexington’s unemployment rate is typically lower than the rest of the
state and nation.
The University of Kentucky, Toyota Motor Manufacturing, Fayette County Public Schools and the Lexington-Fayette Urban County Government are the major employers in the area. However, citizens also enjoy strong employment opportunities in equine related businesses, health care, retail and services. Principal manufactured products include automobiles, automobile parts, peanut butter, cutting tools, heating and air conditioning equipment, paper cups and products, software, sunroofs, and military equipment.
Because of its relatively low utility costs, Lexington has remained a very affordable place to do business, due in large part to its relatively low utility costs. This was certainly a contributing factor when the city was rated the second-best place to locate a company in terms of actual business costs in the 2006 FORBES Best Places study.
With an abundance of colleges and universities in the area, it’s not surprising that Lexington has one of the “Most Educated Workforces” in America. The city was ranked 11th in the nation by Business Facilities magazine, which looked at the percentage of the workforce 25 years of age and older with a high school diploma (55%), bachelor’s degree (33.3%), and an advanced degree (16.7%).
Because of its educational attributes, emphasis on health care, and an overall diverse economy, Lexington often weathers recessions and downturns better than most cities. All of this adds up to good business for those who work or own a business in central Kentucky.
Part of Commerce Lexington Inc.’s Mission Statement says “…creating the environment and opportunity for economic prosperity” for the community and our membership. A number of programs and services are available at Commerce Lexington to assist your business with expansion or growth. We aim to make you successful, and we hope that you’ll take advantage of the opportunities – from publications to loan programs to general guidance.