On Monday, Congressman Andy Barr announced $10 million in federal funding to develop a 200-acre business park in Lexington. The funding, secured during the Fiscal Year 2024 Community Project Funding process, will be used for infrastructure — including roads, sewer systems and sidewalks — to develop the city’s Legacy Business Park on the Coldstream campus, located along I-64 and I-75 just northwest of Newton Pike.
“This project underscores the community’s commitment to bolstering economic growth and creating jobs in Lexington,” Barr said, noting that future tenants of Legacy Business Park are expected to create nearly 1,700 jobs and produce an estimated $2.9 million of annual tax revenue. "I am proud to be able to return Fayette Countians hard-earned tax dollars back to our community," he said.
“Lexington’s economy is running full steam ahead, fully recovered from the pandemic, and breaking records for the number of people employed,” said Lexington Mayor Linda Gorton. “This funding from Congressman Barr will help us ensure our economy continues to thrive. This business park gives us 23 economic development sites. It gives us the opportunity to welcome manufacturing operations, and other businesses to Fayette County.”
Lexington acquired the land from the University of Kentucky 2018, in exchange for the transference of several roads near UK’s campus to the university.