Economic Development

Making sure citizens have the opportunity to compete for good jobs here, and that they are ready to compete, is the fundamental goal of our Economic Development program.

We work to bring economic opportunity and growth to Lexington by making investments in our community to improve the quality of life, which in turn attracts good jobs and new economic growth, making new investments again possible.

It’s a continuing cycle that has brought us low unemployment and rising average incomes. More people are employed in Lexington now than at any time in its history.

Economic development partners

Coldstream campus 

Lexington Fayette Urban County Industrial Authority

Industrial revenue bonds

Kentucky Business Investment Program

Lexington jobs fund

Designated Opportunity Zone

Tax increment financing

Bluegrass Farm to Table page

Workforce development

The availability of up to $300,000 in economic development grants was authorized by the Lexington-Fayette Urban County Council in the fiscal year 2020 adopted budget for the purpose of providing economic and workforce development services to supplement and support the work of the Urban County Government.  

The FY19 application process was the application process for a 2-year funding cycle (FY19–FY20). 

The grants for FY20 were awarded contingent on approval of the funds in the FY20 Lexington-Fayette Urban County Government budget cycle and contingent on each agency completing their respective grant outcomes. 

The acknowledgment of this contingency will be agreed-upon by all awarded agencies in all grant award contracts.

The grant application cycle for FY21 closed on Jan. 13, 2020. Learn more about the grant application process and funding priorities

Workforce Development in Lexington, Kentucky

Economic Development Grant Training Programs

More information about workforce development

LFUCG-UK Land Exchange

Through a land exchange, the University of Kentucky and the City are working together to meet long-term community needs.

The University is gaining title to several streets or portions of streets to improve pedestrian safety in and around the campus. The City is gaining 250 acres for the development of a business park with the goal of bringing good jobs to Lexington.

Memorandum of Understanding

Master Development Agreement

Lexington Just Feels Like Home

Lexington just feels like home

Lexington is a vibrant community for professionals and their families. Lexington is safe, affordable, and offers excellent educational opportunities. Lexington is home to several Fortune 500 companies & the University of Kentucky.

Lexington Local Small Business Economic Stimulus Grant Program