Issues: Economic Development
The services provided by the Lexington Fayette Urban Co. Government are primarily funded by the payroll and occupational taxes. Bottom line, Lexington receives over 80% of its revenue from the creation and retention of jobs in Fayette County!
Therefore everything we do as a city should be about creating job and entrepreneurial opportunity within Fayette County! The problem has been this: Lexington leadership for years has not understood what it has to leverage AND what are the sustainable jobs of the 21st Century? Question: What do we have to leverage?Answer(s):
- A very safe city
- Picturesque landscape
- The confluence of 2 US Interstates
- Close proximity of 3 airports (one major international)
- Close driving proximity to major US cities (Louisville, Cincinatti, Chicago, Atlanta, DC)
- Critical mass of institutions of higher learning
- A strong agricultural-base for business and tourism (livestock, crops, research, travel)
- Low electric rates, low property taxes, a median age of 33 yrs old and access to some pretty good basketball!
Answer: These are the jobs that create jobs. They are in fields like engineering, science, education, research and medicine. They are created in cities where there is a critical mass of knowledge-based professionals AND where entrepreneurialism encouraged. I firmly believe Lexington has all the pieces and parts to become an economic engine that can drive not only the economy of Kentucky, but the United States as well - we just need visionary leaders who can put the pieces together. As a small business person and one who speaks to and consults with companies, organizations and institutions around the country I recognize the opportunities and challenges Lexington faces in growing a strong economy. Again, having a vision and plan is the first step toward moving Lexington forward economically and toward being known as "The Most Family-Friendly City in America" - beginning with the 9th District!
Sunday, April 16, 2006 - 08:20 PM

