LEXINGTON, Ky. — Lexington celebrated a major economic milestone on June 20, 2025, with the groundbreaking of the Legacy Business Park, a project aimed at creating shovel-ready land for job creation. Located near the University of Kentucky’s Coldstream Research Park, the 200-acre development features 19 lots totaling 147 acres for job-related use, alongside bike and pedestrian trails connected to the city’s Legacy Trail, and extensive green spaces.
The park exemplifies the power of collaboration between public and private sector leaders. “Legacy Business Park is the result of unprecedented cooperation among the University of Kentucky, the business community, and government,” said Bob Quick, President and CEO of Commerce Lexington. “We are thrilled about the job opportunities it will provide to support our strategic industries and existing businesses looking to expand.”
Once completed, the project is expected to bring nearly 1,700 jobs to the community, with an estimated annual payroll of $100 million. Local and state tax revenues from these jobs are projected to be approximately $6.8 million and $4.1 million annually, respectively. The groundbreaking marks the start of a $22.6 million development project to prepare the park for businesses within 18 months.
The initiative began in 2017 when Commerce Lexington convened an economic development task force to address the shortage of shovel-ready land. This led to a partnership between the City of Lexington and the University of Kentucky, which exchanged land to support economic development. U.S. Rep. Andy Barr secured $10 million in federal funding, while additional funds came from state grants, city budgets, and utility contributions.
— News Original —
200-acre Legacy Business Park a milestone for Lexington economic development
LEXINGTON, Ky. — u200bLexington marked a significant milestone June 20, 2025, in the pursuit of creating more shovel-ready land for job creation with the ground-breaking ceremony for the new Legacy Business Park. n nLocated near the University of Kentucky’s Coldstream Research Park, the 200-acre park includes 19 lots totaling 147 acres for job-related development, as well as bike and pedestrian trails that connect to the city’s Legacy Trail, and extensive greenspaces. n nThe Legacy Business Park is a testament to the power of partnerships between public and private sector leaders. u200b n n u200b“Legacy Business Park is the result of unprecedented collaboration among the University of Kentucky, the business community and government,” said Bob Quick, President and CEO of Commerce Lexington. “Commerce Lexington is thrilled about the job opportunities the Legacy Business Park provides to support our key strategic industry targets and existing business seeking to grow and expand.” n nOnce complete the project is expected to bring almost 1,700 jobs to the community with a combined annual payroll estimated at nearly $100 million. n nMayor Linda Gorton, University of Kentucky President Eli Capilouto, Kentucky Transportation Secretary Jim Gray, U.S. Congressman Andy Barr, as well as other local community leaders joined in the celebration. n nEach year, the jobs are expected to produce approximately $6.8 million in local tax revenue, and $4.1 million in state tax revenue. Local tax revenue will be used to fund city services and quality of life investments. n nThe groundbreaking kicks off a $22.6 million development project to get the park shovel ready for businesses, installing all infrastructure, in approximately 18 months. n nThe History of Legacy Business Park n nIn 2017, Commerce Lexington, led by Gina Greathouse, EVP for economic development, convened an economic development task force consisting of public and private sector leaders to discuss the challenge of identifying more shovel-ready land for jobs in Lexington. Commerce Lexington’s Bluegrass Business Park, home to companies such as Big Ass Fans, Webasto, Tiffany & Co, had reached its capacity. As a result, the community was extremely limited its jobs land inventory to market to support attracting new businesses and retention of existing businesses. n nThe taskforce discussions led to a mutually beneficial partnership between the City of Lexington and University of Kentucky to help with economic development and job creation. n nIn July 2019, then Mayor Jim Gray and UK President Eli Capilouto agreed to exchange 250 acres of UK-owned economic development land (agriculture farm) with control of some city streets around the main UK campus. n nIt took more than seven years to work through the land swap details, development process and various official documents, budgeting, grants, studies, plans, engineering and design work. n nU.S. Rep. Andy Barr also secured $10 million in congressionally directed spending from the U.S. Dept. of Housing and Urban Development to support infrastructure for the project. n nIn addition, $2 million in funding came from the state through a Kentucky Product Development Initiative grant; the city dedicated $2.55 million in American Rescue Plan Act funding and dedicated $7.45 million in capital funds; and Kentucky Utilities provided $200,000 in Kentucky Product Development Initiative matching grant funds.