Guide To The Bluegrass - Lexington Kentucky Economic Development

Guide to the Bluegrass
Over $730 million in
business investment
in 2013
Top 25 High-Tech
Hotspots
- The Atlantic Cities
Home to the nation’s first
Urban Growth Boundary
(since 1958)
95% of the world’s bourbon
is produced in Kentucky
(more barrels than people)
5th
best city for families
- Parenting Magazine
I hope to have God
on my side, but I
must have Kentucky
Largest book endowment
in the nation
4th lowest international
business location costs
- KPMG LLP
#1 Place to land a job
- Forbes
Area Profile
Lexington-Fayette County
Population: 305,489
\
Labor Force: 157,268
Median Age: 34 years
Scott County
Population: 49,947
Labor Force: 23,959
Median Age: 35.4 years
Bluegrass Region
Golden Triangle
Kentucky
Population: 614,270
Population: 2,125,627
Population: 4,380,415
Labor Force: 308,083
Labor Force: 1,077,382
Labor Force: 2,047,175
Median Age: 37.5 years
Median Age: 38 years
Median Age: 38 years
Bluegrass Diversity
Gender
51%
Female
49%
Male
Age
6%
Under 5
20%
5-19
37%
20-44
25%
45-64
11%
Over 65
37.5
Median Age
81%
10%
5%
White
Black or African
American
Hispanic or
Latino
.17%
2%
2%
American Indian
Asian
Other race
Race &
Ethnicity
Source: U.S. Census Bureau, American Community Survey, 2012
Where We Are
Non-stop
flights to
Philadelphia
n DC
15
destinations
Myrtle Beach
(Seasonal)
Orlando Sanford
Tampa Bay
Punta Gorda/ Ft. Myers
Ft. Lauderdale
Our Economy
Lexington MSA - Expansion Continues!
Area employment has returned to
pre-recession levels as the region
continues to benefit from growth
in the construction, leisure and
hospitality, and professional and
business services sectors.
6.1%
$47,952
$41,170
Unemployment
Rate
Median
Household
Income
Average Annual
Wage
- U.S. Bureau of Labor Statistics,
April 2014
- American Community
Survey, U.S. Census
Bureau, 2012
(all occupations)
- U.S. Bureau of Labor Statistics,
May 2013
Unemployment Rate
The Lexington MSA’s 6.1% unemployment rate is much lower
than Kentucky’s and comparable to the national average.
11
Lexington MSA
10
9.6
9
Kentucky
United States
8.1
8
Recession
8.4
7
6
5.8
4.6
5
4
5.8
5.5
4.5
4.3
2002
2004
6.7
6.1
5.9
5.3
4.7
3
2006
Source: US Bureau of Labor Statistics, 2001-2014
2008
2010
2012
2014
Average Annual Pay
While lower than the national average, average annual pay
among workers continues to increase steadily.
$55,000
Lexington MSA
$49,289
$50,000
$45,563
$45,000
$40,000
$35,000
$46,751
$42,535
$39,354
$36,764
United States
$40,978
$38,465
$39,266
2008
2010
$36,370
$34,595
$32,336
$30,000
$25,000
2002
2004
Source: US Bureau of Economic Analysis, 2001-2012
2006
Kentucky
2012
Recession
Major Industry Sectors
Lexington MSA
Employees
Companies
Trade, transportation, and utilities
23%
22%
Professional and business services
16%
20%
Manufacturing
15%
3%
Education and health services
15%
12%
Leisure and hospitality
14%
9%
Construction
5%
7%
Financial activities
5%
10%
Information
3%
2%
Other services
3%
11%
Natural resources and mining
2%
3%
Source: US Bureau of Labor Statistics, June 2013
Relative Employment Growth
Employment in the Lexington metro area is
benefitting from growth in the construction
and leisure and hospitality sectors.
Increasing
employment
growth
June 2012 - June 2013
4
Construction
3
Leisure and hospitality
2
Trade,
transportation,
and utilities
Professional and
business services
Other services
1
Government
Manufacturing
0
Education and health
services
Financial
activities
Information
-1
-2
Larger share
of metro’s
overall
employment
-3
Natural resources
and mining
-4
-5
0
2
4
6
8
10
12
14
16
18
20
22
Employers of Significance
Employers of Significance
Company
University of Kentucky
Employees
14,000
Toyota Motor Manufacturing
7,900
Fayette County Public Schools
5,374
Transportation Cabinet of Kentucky
4,500
Kentucky Health & Family Services Cabinet
3,610
KentuckyOne Health
3,000
Eastern Kentucky University
2,903
Lexington-Fayette Urban County Government
2,699
Lexmark International Inc
2,656
Xerox
2,530
Baptist Healthcare System Inc
2,496
Wal-Mart
2,027
Kentucky State Government
1,874
Lockheed Martin
1,867
Source: Commerce Lexington, 2013
Occupation Clusters
Occupation
Employment Percentage
Mean Hourly
Wage
Annual Mean
Wage
Office and Administrative Support Occupations
37,720
15%
$15.25
$31,710
Transportation and Material Moving Occupations
17,510
7%
$14.68
$30,540
Healthcare Practitioners and Technical
Occupations
17,230
7%
$32.03
$66,630
Education, Training, and Library Occupations
15,690
6%
$26.43
$54,970
Management Occupations
12,000
5%
$44.80
$93,190
Business and Financial Operations Occupations
8,570
3%
$29.04
$60,410
Construction and Extraction Occupations
7,820
3%
$19.08
$39,700
Computer and Mathematical Occupations
5,740
2%
$28.25
$58,770
Architecture and Engineering Occupations
4,920
2%
$33.54
$69,760
Arts, Design, Entertainment, Sports, and Media
Occupations
3,180
1%
$20.17
$41,960
Life, Physical, and Social Science Occupations
2,370
1%
$23.63
$49,150
Legal Occupations
1,460
1%
$39.82
$82,830
Source: U.S. Bureau of Labor Statistics, 2013
Recent FDI Projects
JAPAN
Funai Corporation
$4.2 million investment
50 jobs (Printing R&D)
CANADA
Stantec
$2.5 million investment
30 jobs (Engineering services)
UNITED KINGDOM
Intertek Testing Services Inc
$6 million investment
4 jobs (Telecom Testing)
GERMANY
Webasto Roof Systems Inc.
$10 million investment
65 jobs (Automotive Roofing)
ITALY
Florida Tile
$3.8 million investment
51 jobs (Wall Tile)
CHINA
Birtley
$10 million investment
50 jobs (Coal Processing Tech)
IRELAND
Trane Co.
$8 million investment
100 jobs (Heating & Air)
AUSTRALIA
SORD KY LLC
$2.2 million investment
82 jobs (Special Ops Gear)
SINGAPORE
A Great American Brand LLC
$1.9 million investment
30 jobs (A&W Restaurants)
Education
An Emphasis on Higher Education
Lexington is one of the most educated
cities in the nation. For cities with a
population of 250,000 or more,
Lexington ranks 14th with 41.5% of its
population having earned a Bachelor’s
degree or higher.
The Bluegrass Region boasts 10
colleges and universities within 40
miles of Lexington. In addition,
Lexington has five professional and
technical schools.
Nearly 70,000 students are enrolled in
institutions of higher learning, while
more than 15,000 graduate annually.
An Emphasis on Higher Education
2012-2013
Enrollment
2013 Graduates
Degrees
Conferred
Distance from
Lexington
University of Kentucky
29,385
6,317
B, M, PhD
0 mi
Eastern Kentucky University
16,111
3,438
A, B, M, PhD
21 mi
Bluegrass Community &
Technical College
12,367
3,389
A
0 mi
Kentucky State University
2,533
301
A, B, M
22 mi
Georgetown College
1,399
555
B, M
12 mi
Asbury College
1,794
409
B, M
14 mi
Berea College
1,623
284
B
16 mi
Centre College
1,381
295
B
32 mi
Midway College
1,351
348
A, B, M
12 mi
221
B
0 mi
Institution
Source: KY Dept. of Education, 2013
Transylvania University
1,084
69,028 enrolled 15,557graduates
Community & Technical Education
Over 12,000 students are enrolled locally in the Bluegrass Community &
Technical College (BCTC). Currently, BCTC is developing a 80,000 SF
manufacturing technology learning center that will partner with regional
K-12 schools and industry to offer education in multiple career paths
serving the regional industrial mix. The center will serve 1,200 students.
K-12 Education
Kentucky’s commitment to public
education over the last 20 years
has made it a model for the
nation. Kentucky public schools
ranked 10th nationally in
education performance in 2013.
Fayette & Scott County lead the
state - the Elkhorn Crossing
School in Georgetown led the
state in percentage of students
meeting academic career ready
benchmarks and both districts
consistently score above state
averages on the ACT.
K-12 Options
Fayette County
Fayette County Public Schools
• 56 schools
• 41,000 students
Fayette County Private Schools
• 22 schools
• 6,500 students
Scott County
Scott County Public Schools
• 12 schools
• 8,880 students
Scott County Private Schools
• 4 schools
• 600 students
School for the Creative and Performing Arts
(SCAPA) – Lexington
Public, magnet school with nine majors: Drama, Creative Writing,
Ballet, Contemporary Dance, Piano, Visual Arts, Voice, Band, and
Orchestra.
STEAM Academy – Lexington
“Kentucky’s most innovative school” incorporates mastery
learning, personalized instruction, internships, and dual/college
credit. Curriculum is focused on Science, Technology,
Engineering, Arts, and Mathematics.
Maxwell Spanish Immersion Elementary
School – Lexington
Maxwell Elementary-Escuela de Inmersión en Español is a partial
immersion model. One-half of the school day is spent in the
target language (Spanish), and one-half of the school day in
English.
Elkhorn Crossing School – Georgetown
Public school with STEM-career focused curriculum, including:
Pre-Engineering, Biomedical Sciences, Media Arts, Health
Sciences, and Law & Justice.
Education Facts
•
Overall, Fayette County Public Schools are better than the state average at
every testing level. More than half of the district's schools earned ratings of
proficient or distinguished in 2013.
•
In 2013, Fayette County had 45 National Merit Semi-Finalists, 62 Governor’s
Scholars, 32 Governor’s School for the Arts participants. The class of 2013
earned $74.5 million in scholarships.
•
Fayette County is the only county in the nation to offer world language
instruction in three target languages beginning in kindergarten – Chinese,
Japanese, and Spanish.
•
With more than 41,000 students enrolled, and growing by an average of 750
students per year for the past five years, Fayette County Public Schools is the
second largest school district in the state of Kentucky.
•
Although the district accounts for just 6% of student enrollment in the state, it
represents two to three times that percentage of National Merit Finalists,
Governor’s Scholars, and Governor’s Scholars for the Arts participants.
•
Nearly 8,400 students attend Scott County public schools. Enrollment in
Advanced Placement classes has doubled to more than 1,100 in the past four
years. Students can choose from 19 different AP course offerings.
New K-12 Developments - Lexington
23
New K-12 Developments - Georgetown
24
Housing
Housing Sales 1998 - 2014
Even during the collapse of the US housing bubble,
Bluegrass housing sales remained relatively stable.
12,000
10,000
10,333
8,000
8,855
8,615
8,235
7,368
7,054
6,000
6,649
6,454
Residential Single
Family Units
Townhouses/Condos
Units
4,000
Recession
2,000
432
965
718
575
459
647
690
470
0
98
99
00
01
02
03
04
Source: Lexington-Bluegrass Association of REALTORS
05
06
07
08
09
10
11
12
13
Median Sales Prices 1998 - 2014
Home prices have remained stable over the past decade.
160,000
$146,000
$146,000
$143,000
$140,324
140,000
$137,900
$132,030
$124,204
$117,802
120,000
$127,500
$127,148
$118,000
$116,900
Residential SingleFamily
100,000
$100,310
Townhouse/Condo
Recession
$88,000
80,000
$79,900
$77,143
60,000
98
99
00
01
02
03
04
Source: Lexington-Bluegrass Association of REALTORS
05
06
07
08
09
10
11
12
13
Bluegrass Housing
Market Overview
From newer, suburban neighborhoods to
older, historical areas, Lexington and
Georgetown truly offers something for
everyone.
Residents can choose from downtown
living, suburbia, apartments, and farms.
The median house price in the Bluegrass
area currently stands at $145,000 making
the region an attractive and affordable
place to live
-
Construction is on the rise relative
to 2013
-
Housing is more affordable than
most markets (monthly mortgage
payment represents 10.2% of income,
compared to 20.3% nationally).
Source: Lexington-Bluegrass Association of REALTORS
Location
Median
Residential
Sales Price
(May 2014)
% of List
Price
Bluegrass
$145,000
96.48
Fayette
$157,000
95.87
Scott
$150,000
99.09
Housing by the Numbers – Focus on Lexington
Many Neighborhoods, One Lexington
Lexington has a strong network of over 250 neighborhood
and homeowner's associations registered through the
Division of Planning. This neighborhood directory provides
a listing of the associations and their contact information.
Average Sales Price
Average Monthly Apartment Rent
$200,388
$815
Average Monthly Electric Bill
$66.45
Average Monthly Gas Bill
$58.05
Average Monthly Phone Bill
$34.99
Source: Lexington-Bluegrass Association of REALTORS; ACCRA Cost of Living, Q1 2014
Lexington Real Estate
Masterson Station, 2108 Square Feet
4 Bedrooms - $164,900
13.6 miles – 19 Minutes
Brookfield Chase, 1530 Square Feet
3 Bedrooms - $134,900
16.9 miles – 22 Minutes
Stuart Hall, 2508 Square Feet
4 Bedrooms - $269,990
23.9 miles – 29 Minutes
Blackford, 3806 Square Feet
4 Bedrooms - $349,900
21.9 miles – 25 Minutes
30
Georgetown Real Estate
The Paddocks, 1402 Square Feet
3 Bedrooms - $145,900
4.7 miles – 10 Minutes
Ward Hall Estates, 2505 Square Feet
4 Bedrooms - $279,000
4.6 Miles – 7 Minutes
Pleasant Valley, 1715 Square Feet
3 Bedrooms - $159,00
1.4 miles – 3 Minutes
Canewood, 3884 Square Feet
4 Bedrooms - $325,000
6 Miles – 10 Minutes
Quality of Life
Cost of Living
Lexington is an affordable and attractive place to live!
The Council for Community and Economic Research’s Cost of Living Index provides a picture of cost differences
among urban areas. The national average is 100; index scores below 100 are lower than the national average.
Composite
Index
Grocery
Items
Housing
Utilities
Lexington
89.6
93.1
73.9
95.5
94.0
91.1
Covington
87.3
88.4
74.8
97.5
95.9
103.0
Louisville
91.7
93.9
80.2
84.4
102.1
91.8
Plano
99.2
102.2
88.9
99.6
105.1
105.7
Ann Arbor
102.4
94.0
114.8
103.5
123.5
113.0
Los Angeles
131.4
103.3
200.8
114.2
108.0
111.2
New York
163.4
126.9
293.4
128.4
113.1
108.0
City
Source: ACCRA Cost of Living, Q1 2014
Transportation Healthcare
Health Rankings
Kentucky
Top U.S.
Performers
15%
26%
14%
29%
33%
33%
25%
7.2
8
7.4
8.7
Access to exercise opportunities
96%
42%
62%
85%
Children in poverty
20%
16%
27%
13%
59
46
79
49
13.1
13.2
13.5
9.5
Selected Health Influencers
Fayette
Scott
4th
5th
Adult smoking
16%
Adult obesity
Overall KY Health Factor Ranking
Food environment index
Injury deaths (per 100,000)
Air pollution - particulate matter
Source: County Health Rankings, University of Wisconsin Population Health Institute
Healthcare
Lexington’s healthcare supply is
consistently ranked among the best in
North America and around the world.
The area contains 12 hospitals, 249
physician’s offices, 148 dentist’s offices,
and 164 other facilities related to
ambulatory care.
Lexington is also home to the Markey
Cancer Center, the only NCI-designated
center in Kentucky (providing specialized
access to new drugs, treatment options,
and trials).
City
Lexington
The healthcare sector has been one of
the driving forces of growth in the
Bluegrass, with about 15% of the area’s
workforce employed in healthcare and
social assistance.
Ratio of Population to
Primary Care Provider
845 : 1
Louisville
1,100 : 1
Cincinnati
980 : 1
Nashville
1,073 : 1
Knoxville
886 : 1
Downtown Lexington
Downtown Georgetown
Arts and
Entertainment
1.
3.
2.
4.
5.
6.
Area Outdoor
Activities
3.
6.
1.
2.
4.
5.
7.
8.
Religion
More than 50 denominations and
religious groups are represented in
the hundreds of churches in the
Lexington area. The region is home
to a variety of Christian
denominations, as well as Hindu,
Islamic, Buddhist, and Jewish
congregations.
A community report by New Century
Lexington cited the area’s numerous
religious opportunities as one of the
city’s strengths. For example, the
Bharatiya Temple and Cultural
Center, was established in 2000 to
provide education on the Hindu
religion and to promote Indian culture
and heritage.
LGBT
Lexington is a long-standing haven for
the LGBT family in Kentucky. The
Advocate magazine voted Lexington
one of the ”10 Best Places for Gays
and Lesbians to Live.“ Six Kentucky
cities, including Lexington, have
passed fairness ordinances covering
sexual orientation and gender identity.
LGBT Support Organizations:
• JustFundKY
• GSL Youth Program (in
majority of Fayette County
Public Schools)
• Lexington Pride Festival
Culture and Heritage
Festival Latino de Lexington,
sponsored by Lexington Parks and
Recreation and area businesses,
includes two-days of live music, youth
activities, cultural presentations,
international booths, and authentic
cuisine. In 2013, more than 30,000
people attended the local event.
Founded in 1989, the Roots &
Heritage Festival has grown into a
month long cultural event has
earned recognition as one of the
Top Twenty Events in the
Southeast by the Southeast
Tourism Society.
The Horse Capital of the World
Kentucky’s 450 Thoroughbred
farms account for 30 percent of
Thoroughbred foaled in the country.
The historic Keeneland is the
world’s premier Thoroughbred
auction house and its global brand
attracts a diverse international
clientele.
In 2012, buyers from nearly every
state and 50 countries,
encompassing Europe, the Middle
East, Central and South America,
Australia, Asia, South Africa,
Russia and India, participated in
Keeneland’s four annual auctions where sales totaled more than
$468 million.
Kentucky Horse Park
The Kentucky Horse Park is a 1,200
acre competition facility and tourist
attraction.
It is home to 34 horse associations
and is recognized as the epicenter
of equestrian life, sports and
business. Perhaps most notably, the
park annually hosts the Rolex
Kentucky Three-Day Event. The
event is ranked at four stars, which
is the highest level in international
competition.
The 2010 World Equestrian Games
generated an estimated $201.5
million into the Kentucky economy.
The event sold over 400,000 tickets
to visitors from 63 countries.
The Bourbon Trail
For more than 200 years,
Kentucky’s legendary distilleries
have crafted the world’s finest
Bourbons. This tradition can be
explored on the Kentucky
Bourbon Trail tour, featuring
eight signature distilleries
among the beautiful scenery of
the Bluegrass.
CNN recently named the
Kentucky Bourbon Trail a “Top
10 Classic American
Experience.”
The Brewgrass Trail
The craft beer movement in
Lexington and the Bluegrass
Region is alive and well! Craft
breweries are now scattered
across Kentucky, and more and
more thirsty travelers are
seeking out small craft brewers
and locally-made beers in
addition to sampling our classic
bourbons.
The Brewgrass Trail is
dedicated to showcasing the
craft brewers establishing
themselves in the Bluegrass.
The Grape is Back
Did you know that Kentucky was
home to the first commercial
vineyard in the country? Or, that
Kentucky wineries once
produced more than 50 percent
of the United States’ grape
harvest and wine yield?
Today, over a dozen wineries
are located in the Bluegrass,
and farm families in the region
are increasingly transitioning to
viticulture. The rebirth of the
local wine industry has been a
boon for wine lovers and
travelers alike.
Nightlife and Restaurants
Sports
Lexington is home to the iconic
Rupp Arena, home court of the
University of Kentucky Wildcats.
In 2012, the Wildcats won the
NCAA Men’s basketball national
championship, claiming their 8th
national title!
The Lexington Legends are the
city’s minor league baseball team,
associated with the Kansas City
Royals.
Enjoy a game at Whitaker Bank
Ballpark!
Rankings and Accolades
#8 Best City for Working Parents
#19 Best College Town in America
#3 Best City to Start a New Life
by Nerd Wallet, 2014
by Best College Reviews, 2014
by My Life, 2014
#12 Post Recession Recovery
by Wallet Hub, 2014
#31 Best Place for Business and Careers
#53 Most Affordable City in America
by Forbes, 2014
by Nerd Wallet, 2014
#7 Lowest International Business Location Costs in the
U.S. Northwest/Canada region - KPMG LLP, 2014
#4 Increase in Start-up Density from 1990-2010
by Kauffman Foundation,
2013
Rankings and Accolades
#1 Mid-Sized Community
by Fourth Economy, 2011
#2 Best Cities for Education
#9 Best Places to Retire
by Parenting Magazine, 2010
by Forbes, 2011
#5 Best Real Estate Market Buy
by MSN Real Estate, 2010
100 Best Communities for Young People
2013 Google eCity
by Google, 2013
#25 America’s 50 Best Cities
#7 Best Places to Retire
by America’s Promise Alliance, 2012
by Bloomberg, 2012
by Forbes, 2013
National Geographic Place of a Lifetime
by National Geographic Traveler, 2001
Rankings and Accolades
#5 Top 10 College Towns
by Livability.com, 2013
#2 Best Cities for Relocating Families
#44 Best Performing Cities
by The Miliken Institute, 2013
#5 Best Cities for Families
#1 Best Cities for Finding a Job
by Primary Relocation, 2008
by Parenting Magazine, 2010
by Forbes, 2011
# 17 America’s Tom 25 High-Tech Hotspots
#2 Most Educated Workforce
#7 Best Cities for Education
#48 Best City to Live in Worldwide
by The Atlantic Cities, 2013
by Business Facilities, 2008
by Parenting, 2010
by Mercer Consulting, 2006
Contacts
Commerce Lexington Economic Development Staff
Gina Greathouse
Senior Vice President, Economic Development
859-226-1623
Hannah Huggins
Project Manager, Economic Development
859-226-1631
Kimberly Rossetti
Assistant Vice President, Economic Development
859-226-1627
Project Website
http://locateinlexington.com/ABOUT-US/MediaCenter/Toyota-Relocate-to-the-Bluegrass.aspx
J. Travis Lane
Director of Research, Economic Development
859-226-1620
Georgetown/Scott County Economic Development Staff
Jack Conner
Executive Director, Georgetown/Scott County Chamber of Commerce
502-863-5424
Lori Saunders
Marketing Director, Georgetown/Scott County Tourism
502-863-2547