Metro Lex News

U.S. Representative Andy Barr has announced a significant development for Lexington, Kentucky, with a $10 million grant allocated for the city’s Legacy Business Park. The grant aims to boost economic growth and job creation in the region, as Barr highlighted, "This project underscores the community’s commitment to bolstering economic growth and creating jobs in Lexington. I am proud to be able to return Fayette Countians’ hard earned tax dollars back to our community.”

The funding, known as Congressionally Direct Spending, will be utilized to complete the infrastructure requirements of the 200-acre business park, including roads, sewers, and sidewalks. Mayor Linda Gorton emphasized the positive impact of this initiative, stating, “This new business park means jobs for our residents and tax revenue for our city.” It is estimated that the park will generate nearly 1,700 jobs in the coming years, with an annual local tax revenue projected at $2.9 million upon full development.

Lexington Chief Development Officer Kevin Atkins expressed optimism about the project's prospects, noting, “We have already had a lot of interest in the park. Businesses are attracted to Lexington because of our highly educated work force, low cost of living, and quality of life.” The city has already begun actively marketing the 23 available lots within the industrial park.

The acquisition of the land for the Legacy Business Park took place in 2018, with Lexington securing the property from the University of Kentucky. In return, the city transferred certain roads near the university campus to the institution, providing economic development sites crucial for welcoming manufacturing operations and other businesses to Fayette County.

Funding for the park’s infrastructure, totaling approximately $22.4 million, has been sourced from federal, state, and local resources, symbolizing a collaborative effort towards driving economic progress in the region.