Lexington, KY – Nine companies joined Lexington’s high-tech sector in the past year, bringing 190 new jobs and a combined investment of $7.5 million to the local economy.
Mayor Jim Gray and Congressman Andy Barr kicked off Global Entrepreneurship Week Monday with that announcement, taking stock of the past year’s achievements and reaffirming their commitment to attracting and growing small businesses in central Kentucky.
Last year’s growth was credited in part to a combination of federal, state and local incentives, as well as the work of the Bluegrass Business Development Partnership, a collaborative effort of the city of Lexington, Commerce Lexington, Inc. and the University of Kentucky.
The nine companies were recipients of federal Small Business Innovative Research (SBIR) grants, and each also benefited from the state’s match program, in addition to the partnership’s rent subsidy program for recipients of state SBIR matching grants.
The nine new companies that relocated to Kentucky last year include Bauer Labs; Directed Energy Inc.; Hitron Technologies, Inc.; Mercury Data Systems; New Global Systems for Intelligent Transportation Management; Nicolalde R&D; NOHMs Technologies, Inc.; Science Tomorrow; and Twin Star TDS, LLC.
Of the 190 new jobs created in the local high-tech sector by these relocating companies, NOHMs Technologies, Inc., which was announced in September, accounted for more than 80 percent, or 160 jobs, which are slated to be filled over the next decade. The companies are focused on software and IT, renewable energies, communications, life science solutions and advanced manufacturing.
This week marks Lexington’s third year of participation in Global Entrepreneurship Week, supported locally by the Bluegrass Business Development Partnership. The event is organized by the Lexington Innovation and Commercialization Center, a part of the Kentucky Innovation Network, and the Bluegrass Small Business Development Center, both of which are part of the University of Kentucky. Events planned for the rest of the week include workshops on legal issues for entrepreneurs, social media and website development and self-marketing, in addition to a start-up pitch competition and a Lexington Venture Club Entrepreneurial Celebration.
For more information on Global Entrepreneurship Week events, check online at www.lexingtonventureclub.com.