A rendering of the CentrePointe office building that Stantec will in part occupy.
Lexington, KY – After receiving state and local incentives in June to add 30 jobs and merge their two Lexington offices into one, engineering giant Stantec has announced publicly that it will locate in the planned office building at CentrePointe.
“We are proud to be part of the Lexington community and what better way to demonstrate that pride than by being first in on this exciting downtown development,” Don Armour, vice president with Stantec said in a release from Commerce Lexington’s economic development team. “Our new downtown office will help fulfill our company purpose – we create communities.”
Stantec currently employs 160 people in Lexington will invest more than $2.5 million on the expansion that will lead to the firm occupying two-and-a-half floors of the CentrePointe 10-story office building, the release states.
In late June the Kentucky Economic Development Finance Authority (KEDFA) approved Stantec for a 3 percent reduction on taxes for 10 years based on the salaries of the new jobs, and stated Lexington would do the same up to 1 percent, pending council approval, which was approved. In addition, Stantec would receive $450,000 in incentives.
At the time the board was told Stantec is considering two different locations in Fayette County to consolidate its offices, and informed that if it chooses a TIF district - which CentrePointe is - the percent based incentives would not be returned to the company and instead would be enveloped by the TIF.
With the state filings in June, Stantec reported the jobs would come with compensation of $50 an hour on average including benefits and be phased in over seven years. The state documents show Stantec would plan to add 20 of the jobs within the first year.
Stantec currently has three offices in Kentucky, the two in Lexington and one in Louisville. The company has more than 200 offices worldwide and employs more than 13,000 people.
The new jobs in the Lexington area would be an expansion of their current operations, which focus largely on civil engineering with the main clients being the Army Corps of Engineers, the Tennessee Valley Authority and the Kentucky Transportation Cabinet, Armour told in June.