Construction is now underway on Lexington’s Legacy Business Park.
The 200-acre project will be located off Georgetown Road near the exits to Interstates 64 and 75.
The plan has been in the works since 2018. The park will be built on land formerly owned by the University of Kentucky. The school exchanged it to the city in 2019.
UK President Eli Capilouto says he thinks it’s a way to keep a local workforce.
“We feel like infrastructure and talent are two essential ingredients for success, and because of the proximity here to Coldstream (Park), I think we are going to have an opportunity for better alignment of infrastructure and talent,” he said.
Mayor Linda Gorton says she expects it would add around 1,700 jobs to the city. It would also add nearly $7 million in local tax revenue and more than $4 million in state tax revenue each year.
“The reality is, in our community, we afford investments in quality of life and city services by growing our jobs like those we're talking about today,” she said.
The project cost nearly $23 million to build. That includes $10 million from the U.S. Department of Housing and Urban Development.
Other funds came from the Kentucky Product Initiative grant, the American Rescue Plan Act and Kentucky Utilities.
