Lexington Info

Lexington Economy

With its abundance of government and technology jobs, Lexington has one of the nation's most stable economies. Lexington has been described as having "a fortified economy, strong in manufacturing, technology and entrepreneurial support, benefiting from a diverse, balanced business base". The Lexington Metro Area had a July 2008 unemployment rate of only 5.4%. Lexington was named the 4th best city for "Businesses and Careers" in 2011 by Forbes Magazine, the 5th best city for Young Professionals in 2008 and 6th Best Value Cities 2011 by Kiplinger.

As such, the city is home to several large corporations. The city has sizable employment from four Fortune 500 companies: Xerox (who acquired Affiliated Computer Services), Lexmark International, Lockheed-Martin, and IBM employing 3,000, 2,800, 1,705, and 552 respectively. United Parcel Service, Trane, and Amazon.com, Inc. have a large presence in the city, and Toyota Motor Manufacturing Kentucky is within the Lexington CSA in adjoining Georgetown. The city is also host to a Jif peanut butter plant that produces more peanut butter than any other factory in the world and three notable corporate headquarters: Fazoli's, a fast food Italian chain that has expanded to more than twenty states; Tempur-Pedic, International, a manufacturer of mattresses with memory foam; and the Forcht Group of Kentucky, a holding company that employs more than 2,100 people across Kentucky. Forcht Group operates several businesses in Lexington including First Corbin Bancorp, Kentucky National Insurance Company, My Favorite Things, BSC, a bank data services company, and First Lab, among others.

The city's largest employer, the University of Kentucky, as of 2012, employs about 14,000. The University is the ninth largest economic company in the state of Kentucky, with an annual budget of $1.4 billion, and the College of Medicine within the University is the 21st-largest company in the state.

Other sizable employers include the Lexington-Fayette County government and other hospital facilities. This includes the Fayette County Public Schools, employing 5,374, and the Lexington-Fayette Urban County Government, employing 2,699. Central Baptist Hospital, Saint Joseph Hospital, Saint Joseph East, and the Veterans Administration Hospital employ 7,000 total.

Source: Wikipedia
Links:
Lexington Chamber of Commerce

United States Census Bureau