Greater Lexington Region Lauded for Robust Economic Development Activity
Top 10 in prestigious national ranking
Lexington, Ky. — The Greater Lexington region has risen the ranks to an impressive stature of national economic prowess. Site Selection Magazine recently announced that the area has been ranked in the top 10 nationally for tier two metros for economic development activity. This announcement puts Greater Lexington on a highly-regarded map for areas with a population between 200,000 and one million, affirming the effectiveness of its growth-oriented efforts.
Boosting Economic Development through Collaboration
Commerce Lexington, an organization dedicated to promoting economic development and fortifying existing businesses in the region, has been instrumental in elevating Greater Lexington to this level of success. Collaborating closely with city and state government officials, education leaders, and local businesses, the organization fosters an environment conducive to economic growth and prosperity.
“We have 100 companies that we specifically go out and sit down with and we build a relationship so that they’re very open about what their opportunities are, what their challenges are but we get to know them, and they trust us and so they’ll share challenges, weaknesses that they may have and then we can help them overcome those,” said Bob Quick, Commerce Lexington’s president and CEO.
Achieving Success Through Shared Effort
Throughout 2023, the proactive and collaborative efforts of Commerce Lexington secured the Greater Lexington region a ranking of 10th in total economic development projects and seventh in projects per capita, as stated in Site Selection Magazine’s annual report of economic development activity.
Among the businesses benefiting from these collective initiatives is Longship, a third-party logistics company headquartered in Lexington. They have an annual membership with Commerce Lexington and have seen remarkable growth, employing over 150 people, nearly 120 of whom are based in Lexington alone. “Longship’s roots are right here in the Commonwealth, so we look forward to continuing to open up new job opportunities and to reinvest back into the Lexington community,” touted Courtney Parker, the chief of staff at Longship.
The Future of Economic Development in Lexington
Commerce Lexington is keenly aware that rest is not an option on the road to economic prosperity. The organization has already launched a regional competitiveness plan, a collaborative undertaking involving nine Kentucky counties, addressing critical topics like the labor force, shovel-ready sites, ready-to-occupy buildings, and wages.
This recognition by Site Selection Magazine affirms that the Greater Lexington region is on the right track. Its economic development has been noteworthy enough to receive national attention and with ongoing initiatives in place, Greater Lexington is clearly poised to keep up the pace of growth and secure further recognition in the years to come.
