News & Events

Federal Grants Crucial in Funding Innovations that Strengthen KY


Published September 16, 2013 in the Lexington Herald-Leader
By George Ward
 
In his recent op-ed, Eli Capilouto, president of the University of Kentucky, gave a high-level explanation of the need for continued federal research funding and the impact that this funding has on research institutions and the communities where they reside.
 
In order for America to continue to play a leading role in the development of useful technologies and new products that make our lives better, the "innovation deficit" created by declining federal research funding and sequestration must be addressed.
 
In my position as executive director of the Coldstream Research Campus and working with Central Kentucky's technology-based economic development professionals, I see firsthand on a daily basis how the investment in research has changed Lexington's business mix, tax base and our community.
 
Whether UK recruits another world-class scientist (maybe with a spouse or significant other with similar advanced degree credentials) or an entrepreneurial faculty member starts a company and hires young, well-educated, well-paid employees, Lexington benefits from the "brain gain." Lexington also benefits as these folks volunteer for civic boards or take advantage of the many social and cultural opportunities in our city.
 
Of the 66 total businesses and organizations at Coldstream, more than half are in life sciences, engineering or animal health. There are an additional 19 companies growing in UK's high-tech business incubator, the Advanced Science and Technology Commercialization Center, also known as ASTeCC, creating a pipeline of companies with the opportunity to create innovative new products and grow well-paying jobs.
 
In all, ASTeCC has produced 43 companies that have graduated from the incubator facility and were either purchased by larger companies, or continue to grow, many in the Lexington area.
 
The typical evolution of these high-tech companies starts with millions of federal research dollars on basic research to advance science in a particular area. As an idea develops, innovative faculty members patent their ideas and then license them to a company, some started by entrepreneurial faculty members those who have received doctorates. Many of these companies are then funded by federal small business innovation research grants. Using these grants, companies develop working prototypes of new products and then go on to seek private investment to commercialize their ideas.
 
Since March 2007, the federal government has awarded 33 small businesses in Fayette County over $28 million from this program with an additional $18 million from a Kentucky matching program. Twelve of these companies were attracted to Central Kentucky from out of state to qualify for state matching grants and to be close to UK researchers and resources.
 
Much of this money is then spent in our community on salaries, building rents and other operating expenses. These salaries then turn over in our community at retail stores, restaurants, housing, entertainment or arts venues, etc.
 
The May 2013 McKinsey Global Institute report, "Disruptive technologies: Advances that will transform life, business, and the global economy," said technologies including advanced robotics, next-generation genomics, 3-D printing, energy storage and advanced materials are among the top 12 technologies that have the greatest economic potential in the next 12 years.
 
New products being developed in Central Kentucky include treatments for cancer, methods of drug delivery, business solutions using 3-D imaging, longer-life and less expensive batteries for mobile devices and electric vehicles, cost-effective manufacturing of prototype products, advanced materials including lighter weight metals used in automobile and aerospace manufacturing, and many others.
 
All this and more is happening every day at UK, the Coldstream Research Campus, ASTeCC and other areas of our city. It all started with basic research investment by the federal government. It has led to brain gain, innovative new products and a growing, well-educated community. The need to fund innovation is very apparent in Lexington and it is important that Congress helps prevent an innovation deficit from occurring.
 
With appropriate funding, UK researchers and private companies founded by entrepreneurial faculty will create new technologies that will lead to a more sustainable way of life, well-paying jobs and economic prosperity for our community and country.
 
At issue: Aug. 25 commentary by Eli Capilouto, "Research investment drives progress; cuts in public grants threaten growth"
 
George Ward is executive director of Coldstream Research Campus.
 

Ribbon Cutting Ceremony Held for New Eastern State Hospital


Eastern State HospitalLEXINGTON, Ky. (Sept. 4, 2013) – Governor Steve Beshear joined local leaders, state officials and representatives from University of Kentucky and UK HealthCare for a ribbon-cutting at the new Eastern State Hospital facility. The new hospital is located at UK’s Coldstream Research Campus in Lexington and will open this month. 
 
The 239-bed, approximately 300,000-square-foot replacement facility will provide a modern setting for inpatient psychiatric treatment, along with specialized services for individuals with acquired brain injuries, and individuals with psychiatric disabilities requiring nursing facility level of care and forensic mental health services.
 
In addition to the inpatient hospital, the new Eastern State Hospital campus will include three 11,000-square-foot personal care homes, each with 16 beds, offering a less restrictive level of care that promotes patients’ return to a community setting. These personal care homes will provide residential psychiatric services and serve as a step down from the acute care setting.
 
“To see this project come to fruition is truly rewarding,” said Gov. Beshear. “The improvements in how Kentucky cares for individuals with mental health needs as a result of the new hospital should make us all proud.”
 
The $129 million facility replaces the 185-year-old Eastern State Hospital, the second oldest psychiatric hospital in the country. It will be managed and operated by UK HealthCare, through an agreement with the Cabinet for Health and Family Services (CHFS). This new partnership will not only maintain and improve quality patient care, but also allows UK to leverage its considerable expertise in research and clinical therapies to modernize treatment options while training the next generation of behavioral health providers.
 
Gov. Beshear was joined at today’s ceremony by Lexington Mayor Jim Gray, State Representative Jimmie Lee, of Elizabethtown, University of Kentucky President Dr. Eli Capilouto, Executive Vice President for Health Affairs for UK Dr. Michael Karpf and CHFS Secretary Audrey Tayse Haynes.
 
“Today we take a giant step forward,” Mayor Gray said. “From facilities built before the Civil War and into a modern, state-of-the-art facility; from the nation’s second oldest psychiatric hospital to one of its most advanced. It is a big step of progress for all Kentuckians, but especially for those who suffer from mental disabilities. Many of these patients and their families have been waiting for decades for this day. Gratitude and thanks and blessings to everyone involved.”
 
“This is a real happening for me,” said Rep. Lee. “I cannot put into words what this facility means to me and what the support services offered here will mean for literally thousands of our citizens needing mental health care.”
 
“Today is a day to celebrate a partnership in care for many of Kentucky’s most vulnerable citizens," said President Capilouto. “With a state-of-the-art facility financed by the Commonwealth of Kentucky and the best in high-quality, high-touch expertise and care from UK HealthCare, we begin a new day in providing the best mental health care for the region we serve.”
 
“UK HealthCare recognizes the critical role mental health services plays in providing for the overall health care needs of Kentuckians,” said Dr. Karpf. “This new state-of-the-art facility will enable us to provide the highest level of care as well recruit and retain researchers who will advance our knowledge of the prevention, early detection and treatment of behavioral health disorders.”
 
The Eastern State Hospital project involves a unique agreement between UK, Bluegrass Community and Technical College (BCTC), the state and the city of Lexington. Under the agreement, Eastern State moves from its campus on Newtown Pike to the Coldstream Research Campus location; BCTC moves from UK’s Lexington campus to the current Eastern State location; and UK takes over BCTC’s location on Cooper Drive, which provides the university with additional parking.
 
Construction on the facility began in late 2010 and was overseen by D.W. Wilburn, construction manager for the replacement project. The facility is Leadership in Energy and Environmental Design (LEED) Certified, meaning it meets the highest green building and performance measures.
 
“This facility will offer us the ability to provide improved and expanded services to better meet patient needs,” said CHFS Secretary Haynes. “The advances we’ll be making in patient treatment simply cannot be overstated. I would like to extend my gratitude to everyone who has worked so tirelessly to make the new Eastern State Hospital a reality, and to our new partners UK HealthCare, who I know will continue to work hard every day to provide the best patient care possible.”
 
Eastern State Hospital serves an average of 2,000 patients per year from 80 Kentucky counties. The primary counties served include Boyle, Fayette, Franklin, Kenton and Madison, ranging from 65 to 279 patients annually.
 
Media Contacts:  
Kerri Richardson, Governor's Office, 502-564-2611 or 502-330-6633
or Kristi Lopez, UK, 850-806-0445

Medicinal Power of Blackberries Now Available in KY Proud Gum


Note: Four Tigers, LLC, located on the Coldstream Research Campus, was established in 2004 to develop botanical health and medical products derived from blackberries. Four Tigers is developing a pipeline of blackberry-based health products that will be marketed as cosmetics, dietary supplements, and foods. The company is also developing an exciting portfolio of medical products harnessing the potent anti-inflammatory and anti-oxidant properties of blackberries.
 
August 26, 2013 
 
By Cheryl Truman, Lexington Herald-Leader
 
Paige Shumate Short twirls the raw blackberry in her fingers. Here, she said, is a powerhouse of berry power: antiviral, antioxidant, antibacterial, anti-inflammatory, cancer-suppressing and wound-healing.
 
Her Four Tigers berry care company started with the blackberries produced on Windstone Farms, just east of Paris, by her late father, Wayne Shumate.
 
One day, Short was passing a TV in her den and saw a report about University of Kentucky researchers working with black raspberries.
 
Nonsense, she thought: Why not blackberries?
 
That's how the research relationship got started between Short and her business partner, Russell Mumper, the vice dean of the University of North Carolina Eshelman School of Pharmacy. Mumper previously worked for the University of Kentucky, where his primary research work was in nanotechnology, the process of manipulating atoms and molecules to create microminiature equipment.
 
Since June, Short's company has begun stocking its debut product, gums — BerryCare Toothpaste Gum and BerryCare's Quick Energy Gum — at regional Kroger stores. The toothpaste gum contains 50 milligrams of blackberry powder with its associated polyphenols — chemicals that affect cell-to-cell signaling, inflammatory enzyme activity or gene regulation. That's about as much polyphenol as in nearly a cup of blackberries, Short said.
 
The gums apparently are the first chewing products to be certified Kentucky Proud — which involves products being grown, processed and manufactured in Kentucky.
 
The Shumate-Short clan is doing well with its blackberries, said Kristin Branscum, executive director of the office of marketing for the Kentucky agriculture department, but they're the only ones marketing fruit with healthy antioxidant properties.
 
"Our blueberry growers down in Metcalfe County are really doing a bang-up job," Branscum said. The growers are selling seeds, plants, fruit, books and gift items. For more information on the Kentucky Blueberry Growers Association, go to Blueberrygrowers.com.
 
The blackberry BerryCare energy gum contains 40 milligrams of caffeine in addition to its blackberry powder.
 
However, that's just the beginning of the possibilities forecast for blackberries by Short and her son Bryan Shumate Short, who helps her run the business, headquartered at the Coldstream Research Campus.
 
She and her pharmacy specialist, Joshua Eldridge, are looking beyond gum into other ways to deliver those blackberry phenols, by lozenge or by a tiny film the size of a contact lens that dissolves in the mouth.
 
In the future, Short envisions cosmetics and skin-care products that capitalize on the natural sunscreen in blackberries. Her company also wants to figure out what to do with the seeds that are left over after the blackberries are pureed. Stalks from blackberry plants can be used for fiber that's similar to hemp, Short said.
 
Blackberries are picked or bought from other growers and brought to the research park laboratory and office to be processed. A freezer gives off the smell of a field of frozen blackberries, pureed and frozen; when it's time to process the blackberries, they are moved to a nearby refrigerator.
 
In a world obsessed with healthful living, fruits are often marketed for their health benefits in an increasingly crowded market: Just flipping through the October 2013 issue of Psychology Today yields an article on the health benefits of cranberries headlined "The Smart of Tart" for their ability to stop age-related decline in memory. A few pages later the yuzu — a fruit that looks like the mating of an orange with a cauliflower — is touted as possibly the next superfruit for its benefits to brain neurons and its antioxidant whammy.
 
Four Tigers is seeking FDA approval to test an oral care product with a higher concentration of blackberry powder at the University of Kentucky. If approved for sale as a botanical drug, the blackberry product would be only the second botanical drug in history. The first was green tea, which has a lukewarm approval from the FDA, which says that it might reduce the risk of breast or prostate cancer, although "the FDA has concluded that there is very little scientific evidence for this claim."
 
The Shumates and Shorts have an extensive manufacturing history in Central Kentucky. Paige Shumate Short's father, who died in 2005, turned a hobby blackberry farm into Windstone Farms, the largest blackberry operation east of the Mississippi.
 
Shumate also was the man behind Blue Grass Industries, which would later become Kentucky Textiles Inc., which made Speedo swimwear in Paris.
 
"There's a little part of him in it," Shumate Short said of her father's legacy to her blackberry business. "We still believe the way he did — that there's opportunities in blackberries."
 
Kentucky Proud
 
Four Tigers LLC blackberry-derived products
 
 
Phone: (859) 509-0170
 
 
 

Lexington-Based Fluid Management Systems Granted U.S. Patent Tracking Injected Meds


FMS logoJuly 25, 2013 - Fluid Management Systems Inc., a local high-tech entrepreneurial company located at the Coldstream Research Campus, was granted a utility patent (US Patent No. 8,467,981) by United States Patent and Trademark Office. The patent is for a proprietary system managing inventory through a non-invasive measurement process. Additionally, USPTO has also approved a trademark – VETrakTM – for commercial applications.

 

FMS has several provisional and utility patents applications in the pipeline for human and animal health applications.

 
The measurement system developed by FMS is envisioned as a system for tracking injectable medications administered at hospitals, clinics and doctors’ offices. The technology resulting from this vision is highly adaptable and the first iteration of the vision rests with the animal health market.
 

Dr. Somnath Mukherjee and Ajay Das, both Co-founders of FMS, are the named inventors of the issued utility patent.
 
During 35 years of experience as an industry executive, academic and entrepreneur, Das has created and managed six research consortia and high-tech companies. He founded and served as the CEO of Secat Inc., was director for the Center for Aluminum Technology, was executive director for the Sloan Industry “Center for a Sustainable Aluminum Industry” and adjunct professor of Materials Engineering, all at the University of Kentucky. He is also the founder and CEO of Lexington-based aluminum and energy consulting firm, Phinix, LLC.
 
FMS is currently implementing commercial VETrakTM units at swine farms in Illinois and Iowa. FMS is also under discussions with Lexington-based equine and pharma manufacturing companies to expand its applicability to other animal farms and human health.
 
For more information, click here or e-mail Dr. Subodh Das at subodh@fluidmanagementsystem.com He can also be reached at 859-619-8386.

Construction begins on Citation Boulevard Extension


Connects the Coldstream Research Campus with Commercial and Residential Real Estate Development in Lexington’s Northside

 

Citation Boulevard, a four-lane road that bisects the UK Coldstream Research Campus, will be extended 2.45 miles west from Jaggie Fox Way to Leestown Road at Alexandria Drive. The project will connect the Coldstream Research Campus to commercial developments along Mercer Road and Buck Lane, as well as both commercial and residential developments off Leestown Road. Construction is expect to be completed in December 2015.

 

According to the Lexington Herald Leader, construction crews have been clearing trees around Greendale Road, Buck Lane and Mercer Road to make way for Citation since June. The construction comes after years of rapid residential growth in the northwestern quadrant of the city, which was mostly farmland 15 to 20 years ago. City officials said they hoped the road extension would bring more retail businesses to the underserved area.

 

“Coldstream tenants frequently ask me when there will be more restaurant or retail store development in this part of town,”said George Ward, Executive Director of the Coldstream Research Campus. “The Citation extension is key to generating demand because restaurants typically look at population demographics in a three-mile radius. The Citation extension will provide easy access to Newtown Pike and Citation commercial lots to thousands of people living in single-family homes off Leestown Road.”

 

The first phase of Citation, connecting Newtown Pike to Georgetown Road, was completed in the late 1990s.

 

Citation Blvd

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Law Firm Bingham McCutchen Partners With UK Institute for Workplace Innovation


LEXINGTON, Ky. (June 19, 2013) ―
Bingham McCutchen LLC has joined forces with the University of Kentucky Institute for Workplace Innovation (iwin) to become its newest Innovative Employer Roundtable Partner.  By becoming a Partner of iwin’s, Bingham joins an invitation-only, premier learning community of Kentucky’s top companies dedicated to instituting innovative workplace practices and becoming employers-of-choice.
 
A workplace consulting and research institute, iwin translates research on organizational effectiveness and business best practices, creates applied tools and resources, and helps employers successfully develop their workforces.
 
“Bingham is delighted to be a Roundtable Partner,” said Tracee Whitley, Bingham’s chief operating officer. “Our executive team works diligently to develop innovative employee practices that support our team and enhance our culture. We look forward to the opportunity to network with our dynamic Partners to share ideas in continuing to create innovative workplace practices.”
 
Bingham’s Global Services Center, based at the UK Coldstream Research Campus, opened in April 2013. It houses administrative support staff positions including finance and accounting, human resources, information technology, knowledge services, marketing, operations, and risk management.
 
 “As a leading global law firm, Bingham brings extensive knowledge and proven best practices in employee engagement,” said Lisa Williams, executive director of iwin. “iwin’s initiatives and peer-to-peer learning opportunities can be a strong catalyst for new innovations in Bingham’s ongoing employee-centered environment.”
 
The Innovative Employer Roundtable at iwin continues to grow and spans the Commonwealth. Current Partners include 3M; Anthem Blue Cross & Blue Shield; Baptist Health Lexington; Bingham; Brown-Forman; Central Bank; Commonwealth of Kentucky; Community Action Council; Community Trust Bank, Inc.; Computer Services, Inc.; CVS Caremark; Darley America; Dean Dorton Allen Ford, PLLC; Dinsmore & Shohl, LLP; EKCEP: Eastern Kentucky Concentrated Employment Program; EQT Corporation; Fazoli’s Restaurants; Gallatin Steel; General Cable; Gray Construction; Harper Industries; Hilliard Lyons; Innovative Mattress Solutions; KEMI: Kentucky Employers’ Mutual Insurance; KentuckyOne Health; LG&E and KU Energy; Logan Aluminum; Neace Lukens; Owensboro Medical Health System; Paducah & Louisville Railway, Inc.; Papa John’s International, Inc.; Perfetti Van Melle U.S.A, Inc.; R.J. Corman; Sturgill, Turner, Barker & Moloney, PLLC; Toyota Motor Engineering & Manufacturing, NA; University of Kentucky; University of Kentucky Federal Credit Union; and University of Kentucky HealthCare.
 
In order to create an optimal networking and learning environment in which business leaders can connect with innovative-minded colleagues, membership will cap at 50 employers.
 
To become a Partner of the UK iwin Innovative Employer Roundtable or to learn more about iwin’s consulting services and research, contact shannon.holbrook@uky.edu or call 859-323-0581. For more information, visit www.iwin.uky.edu.
 
With 1,000 lawyers in 14 offices in the United States, Europe, and Asia, Bingham, focuses on financial services firms and Fortune 100 companies, operating on an interconnected platform aligned to address a wide range of legal issues worldwide.
 
The University of Kentucky’s Institute for Workplace Innovation’s mission is to develop and disseminate knowledge about the 21st century workplace to create work environments that boost the bottom line, employee health, and work-life effectiveness.
 
  
MEDIA CONTACTS:  Shannon Holbrook, iwin, 859-323-0581 or Kathy Johnson, UKPR, 257-3155

KDC Proposes Corporate Center at UK's Coldstream Research Campus


Phase one would be a three-story 100,000 sf LEED Certified Class A office building
 
LEXINGTON, KY – May 29, 2013 –  KDC, one of America’s leading commercial real estate and investment firms, under sub-contract with Sperry Van Ness Real Estate Advisors – Lexington, is marketing for development a 38-acre, 250,000 square foot  KDC Corporate Center at the University of Kentucky’s Coldstream Research Campus, one of the larger research campuses in the country.  
 
Phase one is planned to include a three-story, 100,000 square foot LEED Certified building modeled after a highly efficient, sustainable and cost effective prototypical design that KDC has successfully utilized around the country with many of their corporate clients.  Construction of phase one will commence when pre-leasing reaches 50% occupancy.
 
“The proposed building will set the standard for regional and national corporate office facilities in Kentucky,” said KDC‘s Jeff Stidham.  “Its innovative design results in operational savings and provides a healthy work environment that increases employee productivity.”
 
The planned building features a floor design that accommodates more employees per square foot, with raised access flooring for easy access to route electrical, phone and data cabling. Large floor plates with under-floor air distribution providing work stations with individual HVAC controls for temperature adjustment. The under-floor system saves approximately 30 percent in energy costs and improves air quality.  Other building attributes include improved lighting and acoustic quality, ease of transitioning interior components and increased day-lighting opportunities.
 
KDC’s Corporate Center building is designed to receive LEED-certification.  This “green” building rating system, implemented by the U.S. Green Building Council, promotes buildings that are environmentally responsible, profitable and healthy places to live and work. 
 
“I am excited that KDC has taken an interest in marketing their Corporate Center design on the Coldstream Research Campus,” said George Ward, Executive Director of Coldstream. “Their involvement will show a national audience why companies like Hewlett Packard, Tempur-Pedic, A & W Restaurants, Allconnect, and Bingham McCutchen call Coldstream home.
 
The 735-acre Coldstream Research Campus, located at the intersection of I-64 and I-75, is only minutes from the University of Kentucky and downtown Lexington. The research campus, once a well-known Kentucky horse farm, now houses more than 62 companies and 1,360 people that work in the biotech, pharmaceutical, equine health and service industries.    
 
The Coldstream campus offers amenities including a 225-acre city park, two dog parks, and a 1.8 mile section of Lexington’s 12-mile running and bicycling trail that connects downtown Lexington to the Kentucky Horse Park.   An Embassy Suites Hotel, the Paddock Grille Restaurant, and a new hospital also are on the campus. 
 
About KDC
KDC, one of America’s leading commercial real estate and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Austin, Texas; Charlotte, N.C.; Lexington, KY; and Detroit. For more information, visit kdc.com
 
 
For more information, contact Sydney Townsend at stownsend@sunwestpr.com or (214) 373-1601, or Maggie Turner at mturner@sunwestpr.com or (972) 979-9351 at Sunwest Communications.

 

International Law Firm Bingham McCutchen Opens at UK's Coldstream Research Campus


Binham McCutchen ribbon cuttingLEXINGTON, Ky. (April 18, 2013) — Governor Steve Beshear today joined local leaders and officials from Bingham McCutchen LLP for a ribbon-cutting and grand opening ceremony at the ‘Bingham Building’ in the University of Kentucky’s Coldstream Research Campus Business Park in Lexington.

 

“Bingham McCutchen is a company with a rich history and a promising future,” said Gov. Beshear. “Today’s ribbon-cutting represents the unlimited potential for Bingham’s success in Lexington, and we know this will be a perfect fit for the Commonwealth and the firm.”

 

Bingham handles various legal issues for Fortune 100 companies and financial service firms. The global company has 1,000 lawyers and 900 staff employees in 14 major offices across the world.

 

“The winner’s circle is more crowded here today than it will be in a couple of weeks at the Derby,” said Lexington Mayor Jim Gray. “But just as we are known as the Horse Capital of the World, we will now also be known as the place Bingham McCutchen chose over 300 other cities. We’ve crossed the finish line first in this race, and we’re ready to race again, and always to go the extra mile.”

 

University of Kentucky President Eli Capilouto joined the governor and mayor in welcoming Bingham to Lexington.

 

“The University of Kentucky was excited to be a part of the attractive package that brought Bingham McCutchen to the Bluegrass,” Capilouto said. “We look forward to further developing fruitful partnerships between the people at Bingham and UK’s faculty, staff and students across several colleges and departments.”

  

Bingham’s 45,000-square-foot global services center in Lexington will house approximately 250 administrative support staff positions, including finance and accounting, human resources, information technology, marketing, operations, and risk management. The building includes redundant power and communications systems, multiple collaboration zones in an open-plan concept, as well as a micro-market offering fresh food and beverages.

 

“As of today, Bingham’s Global Services Center is officially up and running in the Bluegrass,” said Bingham Chairman Jay Zimmerman, noting that the center will eventually house approximately 250 Bingham employees. “We look forward to being an active member of the Lexington business community.”

 

Bingham Chief Operating Officer L. Tracee Whitley added that the major drivers in securing the on-time opening of the Global Services Center were the strong collaboration between Bingham and Lexington and the dedication of Bingham’s employees.

 

“In addition, the significant amount of work and care invested by our employees during this transitional time has been exceptional,” said Whitley, noting that their dedication enabled the firm support operations to function seamlessly during the months while establishing the center.

 

“This grand opening for the ‘Bingham Building’ at UK’s Coldstream Research Campus is good news for central Kentucky,” said Sen. Julian M. Carroll, of Frankfort. “We are thrilled to have the center for the more than 250 administrative support staff positions in Lexington and to have these offices in the Coldstream Research Campus Business Park. Gov. Beshear shows his continued leadership in job creation to seek out and support this excellent industry expansion.”

 

“Today is a momentous day as we celebrate not only the grand opening of Bingham McCutchen’s Lexington office, but also in the effort to develop Coldstream Research Campus into an economic hub for Lexington and the Commonwealth,” said Rep. Ryan Quarles, of Georgetown. “It is through working in a bipartisan fashion that business growth has taken place in Coldstream, and it is that renewed commitment of working together which will lead to continued growth in the business park.”

 

“Last September, during the official project announcement at city hall, Bingham Chairman Jay Zimmerman mentioned a strong bond between its firm and the people in our community,” said Bob Quick, CCE, president & CEO, Commerce Lexington Inc. “We have enjoyed getting to know the Bingham McCutchen team during the economic development process, and we’re excited for the opening of the firm’s new facility in Coldstream. When an international firm like Bingham McCutchen chooses Lexington, it certainly tells us that we have something very special going on right here in the Bluegrass. We look forward to working with the Bingham staff for many years to come.”

 

For more information on Bingham, contact Claire Papanastasiou, senior public relations manager, at claire.p@bingham.com or 617-416-3377 or visit www.bingham.com.

Gov. Beshear Announces Hummingbird Nano to Expand Operations in Lexington, Add 18 Jobs


LEXINGTON, Ky. (March 1, 2013) – Governor Steve Beshear today joined company and local officials to announce Hummingbird Nano Inc. is expanding manufacturing operations at the University of Kentucky’s Coldstream Research Campus, adding 18 jobs and investing more than $550,000 in the project.


“Hummingbird Nano is on the cutting edge of its industry, using technology the company developed right here in Kentucky,” said Gov. Beshear. “This type of innovative, high-tech manufacturing is a perfect fit for the Coldstream Research Campus, and we’re excited to see 18 new jobs and a significant investment at this growing company.”
 
Based in Lexington since 2012, Hummingbird Nano is a high-tech manufacturer of ultra-small, precision-molded components for the biotechnology, telecommunications, aerospace, energy and defense industries. The expansion of the Lexington facility will include production of precision devices for the health and biotechnology sectors.
 
“Hummingbird Nano Inc. is ultimately the result of resources supplied by Kentucky, from beginning to end,” said R. Grant Stephens, CEO and general counsel of Hummingbird Nano. “The principal officers and employees all have engineering degrees from the University of Kentucky. With the technical knowledge we gained at Kentucky’s flagship university, support from Kentucky agencies that encourage entrepreneurship, use of the tremendous resources at the Coldstream Research Park, and now this tax incentive plan, Hummingbird can truly be called a ‘grass roots’ company from the heart of Kentucky. We are pleased to be able to develop ‘best in the world’ manufacturing technologies and keep them right here at home.”
 
To encourage the investment and job growth in Lexington, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
 
“This expansion by Hummingbird Nano at UK’s Coldstream Research Campus is good news for central Kentucky,” said Sen. Kathy Stein, of Lexington. “Hummingbird Nano’s investment of $550,000 will also add 18 more jobs – jobs that will provide a boost to our local economy and new opportunities for our workforce. Gov. Beshear shows his continued leadership in job creation to seek out and support this excellent industry expansion. Thank you, Governor.”
 
“Lexington has quickly become a leader in both creating and luring the jobs that will drive our nation’s economy in the years ahead, and Hummingbird Nano is a perfect case in point,” said Rep. Jesse Crenshaw, of Lexington. “Its decision to expand speaks volumes about all that our community has to offer. I’m happy it’s taking this step and that our state and local officials could work with the company’s leaders to help make this happen.”
 
“Hummingbirds hover in air by flapping their wings as much as 80 times a second. They are the only group of birds able to fly backward,” said Lexington Mayor Jim Gray. “Clearly, Hummingbird Nano has found the right name. It takes speed, dexterity and superior technology to compete in their industry, and they are competing and growing. Congratulations!”
 
“Hummingbird Nano is a great example of a technology company that is growing and expanding in Lexington,” said Bob Quick, CCE, president and CEO, Commerce Lexington Inc. “We are excited by their presence in the Bluegrass and are proud to be a part of this announcement.”
 
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.
 
A detailed community profile for Lexington (Fayette County) can be viewed at http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.

 

Contact:

Kerri Richardson

502.564.2611

502.330.6633

 

Terry Sebastian

502.564.2611

502.229.6130

 

Mandy Lambert

502.564.4886

Gov. Beshear Celebrates Grand Opening for Tempur-Pedic’s Global Headquarters in Lexington


LEXINGTON, Ky. (Feb. 13, 2013) – Governor Steve Beshear today joined local and company officials at Tempur-Pedic (NYSE: TPX), marking the company’s 20th anniversary in Lexington and celebrating the grand opening for the company’s new global headquarters at the University of Kentucky's Coldstream Research Campus. The project will create 65 new jobs, retain more than 230 jobs, and represent a $17 million investment.

 

“Tempur-Pedic has been helping the world sleep better now for two decades, and we’re extremely proud to have such a world-class company headquartered here in Lexington,” said Gov. Beshear. “This new global headquarters means top-quality jobs, a $17 million investment and an innovatively designed building that represents the forward thinking approach that has made Tempur-Pedic a leader in its field.”

 

Tempur-Pedic began in Lexington in 1993 and has grown to include 1,950 employees worldwide, selling products in more than 80 countries with more than $1 billion in sales.

 

The company’s new 128,000-square-foot facility is located on Tempur Way in the Coldstream Research Campus. Nearly all of the building materials can be recycled, with water-saving and energy conservation features, as well as electric plugs available in the parking lot for electric cars. The facility also includes health and wellness benefits such as a café that serves fresh food from local farms, fitness rooms, yoga classes, bikes and bike racks to be installed this spring to encourage use of the nearby Legacy Trail.  

 

“Our new global headquarters was designed to provide an invigorating place to work, filled with natural light and open spaces, and with a layout that encourages collaboration and team interaction,” said Mark Sarvary, president and chief executive officer of Tempur-Pedic International Inc. “Now that we’ve lived in it for a few months I am delighted to say that it has delivered on all of this and more. As we moved from our old headquarters, we reflected on our history and the path that led Lexington-based Tempur-Pedic to become one of the largest global bedding companies. Tempur-Pedic has undeniably changed the industry, but the journey is far from complete and our new building symbolizes the next phase of our journey,”

 

To encourage the investment and job growth in Lexington, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $8 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets. 

 

“This is an exciting announcement for central Kentucky,” said Sen. Kathy Stein, of Lexington. “Tempur-Pedic’s investment in our community will offer 65 new jobs that will provide a boost to our local economy and new opportunities for our workforce. Tempur-Pedic is exactly the kind of creative business that we want here in Lexington, and we are also pleased to have its global headquarters. Gov. Beshear shows his continued leadership in job creation to seek out and support this excellent industry expansion. Thank you, Governor.”

 

“This is a great day both for Tempur-Pedic and for our community, and I’m certainly happy that our state and local officials could work with the company to help make this expansion possible,” said Rep. Jesse Crenshaw, of Lexington. “What makes this investment even better is that Tempur-Pedic is a homegrown company that has become a world leader in its field. It’s a true Kentucky success story.”

 

“We have been working hard to bring and keep corporate headquarters in Lexington,” said Lexington Mayor Jim Gray. “Tempur-Pedic, we’re glad you’re staying here. Headquarters bring strong leaders and problem solvers who can help us build a Great American City. Headquarters support and strengthen our efforts to grow good-paying jobs.”

 

“Commerce Lexington Inc. is proud to have Tempur-Pedic’s global headquarters in Lexington,” said Bob Quick, CCE, president and CEO of Commerce Lexington Inc. “We’re excited to be a part of the grand opening celebration of this iconic brand’s new headquarters building in Lexington.”

 

For more information on Tempur-Pedic, visit www.tempurpedic.com.

 

Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.

 

A detailed community profile for Lexington (Fayette County) can be viewed at http://www.thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.

 

Contact:

Kerri Richardson

502.564.2611

502.330.6633

 

Terry Sebastian

502.564.2611

502.229.6130

 

Mandy Lambert

502.564.4886

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