2007 Market Review Front Covers.qk 8/31/07 3:10 PM Page 1 2007-08 MARKET REVIEW$ 50 12 of the Bluegrass The State of Kentucky, The Bluegrass Region, and Lexington/Fayette County, Kentucky will host the 2010 Alltech FEI World Equestrian Games. For more information on the the 2010 World Games, see page 28. Show Jumping Event at the 2006 FEI World Equestrian Games, Aachen, Germany Courtesy of World Games 2010 Foundation World Courtesy of Doug Prather Photo by 2007 Market Review Front Covers.qk 8/31/07 3:11 PM Page 2 Hamburg Place Lexington, Kentucky The Hamburg Place Community is home to over 2,000,000 square feet of retail space, 160 acres of professional offices, and 1,200 acres of residential development. Available Retail Space War Admiral Place War Admiral Place features two retail centers in one location, divided by a scenic greenspace park. Wal-Mart and Lowes are open in Area I and Starbucks and FedEx/Kinko's are under construction. Three other outlots are available. Sportsman's Warehouse is open in Area II and Raising Cane's is under construction. Four outlots are under Lease and expected to open in Spring 2008. Residential Development Small tenant space will open in spring 2008 and there is limited availability. Call 859-299-7028 for current information. Sir Barton Place Sir Barton Place, a retail center with over 300,000 square feet, is home to Circuit City, Bed, Bath & Beyond, Off Broadway Shoes, Half-Price Books, Gordman's, Value City Furniture, Talbots, Norwalk Furniture, Johnny Carino's, BD's Lexington’s Premier Commercial & Lexington’s Mongolian Grill and Bonefish Grill, as well as several smaller shoppes. Only 3,644 sq. ft. of retail space is available. Central Baptist Medical Campus Central Baptist will build a regional medical campus on the east side of Hamburg Place. A 2010 groundbreaking is planned. For information concerning retail and office space, contact Pat Madden at (859) 299-7028. Planning & Design HDR/Quest Engineers 2517 Sir Barton Way Lexington, Kentucky 40509 (859) 223-3755 Hamburg Place Development PNC STARBUCKS FEDEX/ CALISTOGA BANK KINKOS BAKERY & CAFE RAISING CANE’S ANCHOR TENANT SPACE SPORTSMAN’S WAREHOUSE SMALL TENANT SPACE 2007 Market Review 1-24.qk 8/31/07 2:54 PM Page 1 2007 Market Review 1-24.qk 8/31/07 2:54 PM Page 2 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 3 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 4 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 5 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 6 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 7 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 8 Kentucky’s Best Educated Workforce 2007-08 MARKET REVIEW of the Bluegrass On the cover: Show jumpers such as this competitor from the 2006 World Equestrian Games in Aachen, Germany, are setting their sights on the Kentucky Horse Park outside Lexington where the 2010 Alltech FEI World Equestrian Games will take place. STATISTIC DATA Fayette County ......................................128 Anderson County................................130 Doug Prather photo Doug Prather Bourbon County ..................................131 Table of Contents Boyle County..........................................132 Clark County ..........................................133 The Bluegrass ............................................10 Medical Services ......................................66 Estill County ............................................134 A Beautiful Life..........................................14 Legal Services............................................72 Franklin County ....................................135 The Bluegrass Region ..........................20 Financial Services ....................................80 Garrard County ....................................136 Commerce Lexington ..........................21 Business and Harrison County ..................................137 Bluegrass Business Real Estate Services ....................90 Jessamine County ................................138 Development Partnership ......22 New Construction ..............................100 Lincoln County ......................................139 Equine ............................................................25 Utilities........................................................102 Madison County....................................140 World Equestrian Games ........28 Made in the Bluegrass ......................104 Mercer County ......................................141 Kentucky Horse Park..................34 Transportation........................................106 Nicholas County ................................142 Gluck Equine Education ..................................................108 Powell County. ......................................143 Research Center ..................46 Tourism and Attractions ..................110 Scott County ..........................................144 Equibusiness ....................................50 Arts and Culture ..................................116 Woodford County ..............................145 Agribusiness................................................52 Media ..........................................................122 Demographics........................................146 Research,Technology Bluegrass Sports....................................124 & Commercialization ..................55 Weather ....................................................126 Utilities Summary.................................148 Publisher Market Review Editor Design & Production ED G. LANE MARK GREEN STONE ADVISORY LaneThe Report General Manager/ Art Direction Pre-press & Printing Associate Publisher STEVE KRIES PUBLISHERS PRINTING CO. CHRIS ALDRIDGE JESSICA MERRIMAN Cover Photo Associate Publishers Treasurer DOUG PRATHER RICHARD J. KELLY STEVE ROHLFING, CPA DAN WELDY Market Review of the Bluegrass is published annually by Lane Communications Group, local and state agencies, including Kentucky Employment Services Workforce under an exclusive agreement with the Bluegrass Area Development District. For Development Cabinet, Kentucky Cabinet for Economic Development, the University information and advertising rates, contact Lane Communications Group, 201 East of Louisville Urban Studies Institute and the University of Kentucky Center for Main Street, 14th Floor, Lexington, Kentucky, 40507,Voice: (859) 244-3500. Fax: (859) Business and Economic Research. All data are believed to be accurate and current, 244-3555. www.kybiz.com. but are not warranted by Lane Communications Group. © 2006 Lane Communications Group. All material in this publication is protected under applicable copyright laws. Reprinting or using any materials from the Market Review of the Bluegrass is prohibited without express written consent by the publisher. Market Review of the Bluegrass is published by Lane Communications Group.The Lane Communications Group is a member data provided in the Market Review of the Bluegrass have been provided by many of the Alliance of Area Business Publications. 8 Market Review of the Bluegrass 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 9 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 10 THE BEST OF THE BLUEGRASS THE BEST OF TheThe BluegrassBluegrass Diversified economy, educated educational opportunities and a great A thriving economy workforce and high quality of life quality of life. Those characteristics are These 17 counties are growing, and one connected in a virtuous circle via one of abound in Central Kentucky way they are achieving growth is through the most educated workforces in the an emphasis on research and technology. United States. Lexington-Fayette Coun- Achieving a top 20 research ranking is a ty is the 10th most college-educated major goal for the University of Ken- ENTUCKY’S Bluegrass region is city in the nation, according to the Cen- tucky, the state’s flagship university. famous for its scenic beauty, rich sus Bureau. Coldstream Research Campus and the Khistory and, of course, world- What is the Bluegrass region? It is university’s many research departments renowned horse farms – the planet’s the 17-county region of central Kentucky are bringing in funds and introducing most prominent horsewoman, Queen that falls under the Bluegrass Area Devel- new ideas to the marketplace. Elizabeth II, stayed at Lane’s End in opment District. This region is located at In addition to UK, many private Woodford County when she fulfilled a the crossroads of Kentucky, at the inter- companies are pushing research and lifelong dream and attended the 2007 section of two major interstates, and technology forward. These represent a Kentucky Derby. includes two state parkways and a broad range of products, from computer- But the Bluegrass region also offers a regional airport that expanded signifi- related to communications, animal and thriving business economy, excellent cantly in early 20007. automotive products. 10 Market Review of the Bluegrass 2007 Market Review 1-24.qk 8/31/07 2:55 PM Page 11 Jeff Rogers photos Above: Thoroughbred horses at Donamire Farm, a 600-acre breeding and training farm on Old Frankfort Pike outside Lexington, is operated in partnership with Midway College. The farm captures the essence of Kentucky’s rolling bluegrass fields and white plank fences. Right: Downtown Lexington includes a pleasant mix of the modern, the historic and the classic. A bevy of magazines have ranked the city Jeff Rogers photo among the nation’s top places to do business in the past few years. The Bluegrass region also boasts access to great health care facilities,