A New Era for Lexington: $10 Million Grant Paves the Way for Legacy Business Park
In a significant move for Lexington’s economic development, U.S. Sixth District Congressman Andy Barr has announced the procurement of a $10 million grant aimed at the development of the Lexington Legacy Business Park. This funding marks a crucial step in the park’s development, earmarking federal dollars for vital infrastructure projects within the sprawling 200-acre industrial site. Projects slated for these funds include the construction and improvement of roads, sewers, and sidewalks, setting the stage for a robust economic future.
The allocation, originating from Congressionally Directed Spending, is not just about laying down physical infrastructure; it’s a strategic investment in Lexington’s workforce and economic stature. The initiative is poised to inject vitality into the local economy through the creation and support of approximately 1,700 jobs within the next few years. The ripple effect of these new opportunities is anticipated to generate an estimated annual tax revenue of $2.9 million once the park is fully operational.
Mayor Linda Gorton has been vocal about the potential impact of the Legacy Business Park, stating it as a pivotal moment for both job creation and economic diversification in Lexington. The park’s strategic location, enhanced by the allure of the city, has already begun to draw attention from potential investors. This initiative seamlessly aligns with broader efforts to bolster Lexington’s appeal as a prime business destination, supported by a comprehensive funding mix from federal, state, and local entities totaling approximately $22.4 million.
This collaborative financial commitment underscores the collective resolve to foster an environment conducive to growth and prosperity. The Lexington Legacy Business Park stands as a testament to the power of strategic investment in infrastructure, promising not only to revitalize the city’s economic landscape but also to lay down the foundations for a thriving future.