News & Events

A&W opens headquarters in Lexington

A&W logoLEXINGTON, Ky. (May 16, 2012) — Mayor Jim Gray and Commerce Lexington representatives officially welcomed long-time Kentucky corporate citizens A&W Restaurants, Inc., back to Lexington Wednesday with a ribbon-cutting ceremony at the company’s new headquarters at Coldstream Research Campus.


“We have been working hard to bring corporate headquarters to Lexington,” Gray said. “Headquarters bring strong leaders and problem solvers who can help us build a pro-business, progressive city…a Great American City. Headquarters support and strengthen our efforts to grow good-paying jobs.” A&W is the third corporate headquarters operation Gray has opened in Lexington in the past 17 months.


Last year, A&W Restaurants, Inc., was sold by Louisville-based YUM! Brands to A Great American Brand, LLC.

The move to Lexington creates 30 jobs and represents an investment of nearly $1.9 million.


“A&W Restaurants, Inc. is happy to be back here in Lexington. Thanks to the support of the Commerce Lexington economic development team, the city of Lexington, and the Kentucky Cabinet for Economic Development for their partnership in making this a great fit for the A&W team at our new World Headquarters at UK’s Coldstream Research Park,” said Kevin Bazner, CEO for A&W Restaurants, Inc. “We are very excited about the quality of staff we have been able to attract and look forward to becoming an integral part of the community as we grow our business from our new home here in Lexington.” Company Chairman Dale Mulder was also in attendance.


Bob Quick, CCE, President & CEO, Commerce Lexington Inc, said Commerce Lexington is proud that A&W Restaurants, Inc., is calling Lexington home again. “Our economic development team, in partnership with LFUCG and the Kentucky Cabinet for Economic Development, enjoyed working with A&W on their location to Lexington,” Quick said. “A&W is a great addition to our growing list of headquarters in Lexington.”

Allconnect announces college hiring program

AllconnectLEXINGTON, Ky. (April 19, 2012) — Allconnect, an Atlanta-based provider for connecting consumers with household services, is hiring more than 70 college students in the next 60 days for summer positions in their Lexington sales center at the UK Coldstream Research Campus and plans to fill more than 200 positions overall in the coming months.


The College Summer Program offers students full-time summer employment at a competitive base pay plus guaranteed commissions. When students return to school, Allconnect can work with their schedules to retain them on a part-time basis. While previous sales experience is preferred, it is not required, as all hires participate in a six-week paid training program to learn the products and sales process.


“Allconnect provides a top-notch work environment, stable hours and an entry-level earning potential that is rarely found in our community,” said John Hegeman, Sales Center Supervisor. “As a University of Kentucky grad, I wish Allconnect was here while I was in school. I would have loved the money, the stability, and the opportunity to get some work experience in the business world.”


Allconnect opened their Lexington sales center in July 2011. Since opening, the company has promoted more than a dozen associates into supervisory and support level positions. The office continues to grow and is expected to reach full capacity in late 2013.


“I’m extremely excited about the program” said Jim Rasnick, General Manager and Vice President of Sales for Allconnect’s Lexington Sales Center. “Students who join our team for the summer have a fantastic opportunity to gain real-world, resume-building experience, while earning great income over the summer. And those students who are interested in furthering their careers beyond the summer will have an opportunity to work on a part-time basis while continuing their education.”


About Allconnect

Through relationships with major utilities, Allconnect has assisted millions of consumers in saving money on essential home services, including satellite TV, cable TV, Internet, phone, and home security systems. The company offers a convenient, simple and objective one-stop source for comparing service plans and pricing, when customers are transferring or establishing household services and want to ensure they are on the best plan for their budget.


Allconnect educates, engages and satisfies utility customers by developing customized solutions to meet partner business goals of increasing customer satisfaction, improving employee morale, providing an additional revenue stream and increasing adoption of initiatives, such as demand response products, energy efficiency programs and green energy initiatives.


Founded in 1998, Allconnect is headquartered in Atlanta, Georgia, with Sales & Customer Care Centers in Atlanta; Lexington, Kentucky; and St. George, Utah. For more information, visit or follow them on Twitter and Facebook.

Work progresses on Tempur-Pedic and Eastern State Hospital construction projects

Tempur-Pedic construction site, April 18, 2012Lexington, KY (April 18, 2012) — Construction is well under way on the $18 million Tempur-Pedic International headquarters at Coldstream. The company broke ground on the 125,000 sq. ft. facility in October 2011 and expects to open by the end of 2012. Tempur-Pedic will create 65 new jobs and bring their total employment to more than 300 in the next five years.


Eastern State Hospital will also complete a $129 million facility by the end of 2012. The 458,000 sq. ft. facility will provide a modern setting for inpatient psychiatric treatment. When these facilities are completed, Coldstream Research Campus will include 20 buildings consisting of 1.31 million square feet. The on-campus employee population will more than double to 2,200.


For more information on the projects:

Gov. Beshear breaks ground for Tempur-Pedic global headquarters expansion


Governor Steve Beshear and State Officials Break Ground on the Eastern State Hospital at Coldstream Research Campus

Coldstream Laboratories experiencing revenue growth, creating jobs

Coldstream LaboratoriesLEXINGTON, Ky. (May 24, 2012) — Coldstream Laboratories Inc. is thriving, growing and creating jobs in Lexington, Ky. The small-batch pharmaceutical manufacturer recently reported a 40 percent revenue growth for 2011 and is projecting similar growth in 2012. CLI attributes this growth to its central location in Kentucky, change in senior leadership in 2010, and access to the University of Kentucky top 5 College of Pharmacy.


“Larry Kranking’s arrival as CEO and president gave us the benefit of his 30-plus years’ industry experience, which helped us move beyond a ‘startup’ mode and into the next phase of our growth,” said Eric Smart, CLI executive vice president. “He has significantly bolstered our operations group with the hire of Dr. Vickie Hall, who also has a strong background in pharmaceutical manufacturing. Larry has also initiated the development of a more sophisticated business plan and in bringing others into leadership roles to position us for future growth.”


“Kentucky also has a business friendly environment and there is clearly a benefit to being located in the central eastern half of the United States,” Smart said. “CLI’s clients range from small pharmaceutical and biotechnology companies to some of the largest pharmaceutical companies in the world.”


CLI enjoys a strong relationship with the University of Kentucky and the UK College of Pharmacy. The company employs many chemistry, microbiology and manufacturing engineering graduates. In 2011, CLI created 36 jobs with an average salary of $61,000.


CLI has the capability to assist with analytical and formulation pharmaceutical development from a pre-clinical trial stage through commercial product development. The FDA-approved company offers speed and flexibility along with a unique isolator technology or enclosed manufacturing process that ensures sterility and the containment of potent toxicities. Due to CLI’s highly specialized manufacturing process, two-thirds of their clients are from the oncology field.


CLI often begins working with a client during the first phase of the clinical trial process. At any given time they have 12 to 15 active projects in production and are supporting as many as 60 to 70 clients a year. The company is making strides toward expanding their capabilities to generate return business from clients through the commercialization process.


“CLI is located on UK’s Coldstream Research Campus, which gives us access to neighboring biotech companies growing in the area. It has been very convenient to walk down the hall and see a client, where you would ordinarily have to get on a plane to visit customers,” said Smart.


One of CLI’s clients is Equinext, a UK spinoff located at Coldstream Research Campus. Equinext is developing an injectable reagent medical device to treat ligament and tendon injuries and Wobbler’s syndrome in horses. The company is in the second phase of clinical trials. Equinext and strategic partner Hagyard Equine Medical Institute hope to bring the device to market in 2013.


“We chose to work with Coldstream Laboratories not only because they are close, but because they use state-of-the-art technology, have FDA experience and are competitively priced,” said Eric Hauck, Equinext CEO. “They understand that we are trying to develop this device in the most cost-efficient manner and they have helped us do that. I would highly recommend CLI to any startup or mid-sized company.”


About Coldstream Laboratories, Inc.

Coldstream Laboratories Inc. is located at the Coldstream Research Campus and plays an important role in the manufacture of new parenteral or injectable drug products. The company spun out of the UK College of Pharmacy in 2007 and specializes in manufacturing small-batch pharmaceuticals for clinical trials and small commercial markets.


 To learn more about CLI, visit

Allylix raises $18.2M, announces launch of new product for fragrance market

AllylixLEXINGTON, Ky. (March 12, 2012) — Allylix Inc., which has its R&D lab at Coldstream Research Campus, recently received a $13.5 million investment from BASF Venture Capital. The BASF subsidiary led a $18.2 million financing round, joined by existing investors Tate & Lyle Ventures, Avrio Ventures and Cultivian Ventures.


The company also announced the development and upcoming commercialization of Epivone™ (epi-beta-vetivone), a rare and highly valuable terpene that will initially be commercialized for use in fragrance applications.


Allylix uses proprietary yeast-based fermentation technology developed by the UK College of Agriculture and the Salk Institute for Biological Sciences to produce a group of natural products called terpenes for flavors and fragrances in greater quantities, of higher quality, and at significantly lower cost than traditional sources. The company’s newest product, Epivone™, has never been commercially available because it cannot be produced synthetically in a cost effective manner.


BASF Venture Capital invests $13.5 million in U.S.-based renewable chemical company Allylix


Allylix to commercialize novel specialty chemical

Equinext receives local funding to test device for equine leg injuries

LEXINGTON, Ky. (Dec. 5, 2011) — UK spinoff company, Equinext, began testing its device to treat equine tendon and ligament injuries using funds raised entirely from local Kentucky investors. Equinext recently closed an $850,000 Series A investment round and began the initial work on their clinical trial with strategic partner Hagyard Equine Medical Institute.

Investors include UK through Kentucky Technology Inc., the Bluegrass Angels, two state funds, and the local equine industry.


Equinext is a spinoff of Orthopeutics-Intralink Spine recruited to Lexington last year and located at Coldstream Research Campus. Tom Hedman, who developed the technology as a treatment for Degenerative Disc Disease and related lower back pain, has a joint appointment at UK in neurosurgery and biomedical engineering.


Equinext receives local funding to begin testing device to treat equine leg injuries

Equinext to develop a medical device for equine lower leg injuries


Biotechnology company working on lower back pain treatment moves to the UK Coldstream Research Campus

Gov. Beshear breaks ground for Tempur-Pedic global headquarters expansion

LEXINGTON, Ky. (Oct 3, 2011) – Governor Steve Beshear today joined community leaders and officials from Tempur-Pedic to break ground for the company's global headquarters expansion in Lexington. The new approximately 125,000-square-foot facility in UK's Coldstream Research Campus is expected to create 65 new jobs, bringing its total employment to just over 300 in the next five years.


Description: Tempur-Pedic groundbreakingUK President Eli Capilouto, UK Vice President for Commercialization & Economic Development Len Heller, former UK President Lee T. Todd Jr. and Coldstream Executive Director George Ward at the Tempur-Pedic groundbreaking."Tempur-Pedic is an impressive and innovative company whose Kentucky roots are continuing to grow. This announcement is great news for Central Kentucky and will result in new jobs and investment for the community where it all began," Gov. Beshear said. "This expansion represents a successful partnership between state and local governments, university leaders and a fast-growing global company that continues to create economic opportunities for Kentucky."


Tempur-Pedic, an international company focused on innovative sleep products, is one of the fastest growing public companies in Kentucky. The billion dollar company started in Lexington in 1993. The company plans to invest approximately $18 million as a result of the project, which is expected to be completed by December 2012.


"This is an important day in the vibrant history of Tempur-Pedic, and we're proud that it's happening right here in Lexington," said Mark Sarvary, CEO of Tempur-Pedic International Inc. "Our passion for this community and our commitment to growth, strengthens every day. This new, world-class headquarters will serve our company, our brand and our associates well in our mission to become the world's favorite mattress and pillow brand."


Description: Tempur-Pedic groundbreakingAn economic impact study performed by the Cabinet for Economic Development this past spring shows the number of direct, indirect and induced jobs that will result from Tempur-Pedic’s existing and new employment is 772 jobs. Those jobs will provide an annual $72.8 million boost to Kentucky's gross domestic product.


"Tempur-Pedic brings extraordinary, broad recognition and new jobs — good jobs — to Lexington," Lexington Mayor Jim Gray said. "Growing and retaining the headquarters of this rapidly growing, internationally known brand is essential. Helping local businesses grow is a major part of our economic development efforts. Not only will Tempur-Pedic serve as a vote of confidence for Lexington, it will once again show the world that Lexington is a viable and thriving location for a world headquarters operation."


"Commerce Lexington Inc. is honored to be a part of Tempur-Pedic's groundbreaking ceremony," said Commerce Lexington Inc. President and CEO Bob Quick. "Tempur-Pedic's expansion in Lexington and the construction of their new global headquarters in Coldstream Research Campus will create quality, stable jobs for our citizens. Congratulations to Tempur-Pedic!"


"The University of Kentucky's Coldstream Research Campus is proud to be the home of an expanded Tempur-Pedic headquarters," said UK President Eli Capilouto. "This project represents the kind of engagement and service that a flagship institution should provide to the Commonwealth: facilitating the creation of good jobs and stimulating innovation by creating a home for research and excellent companies like Tempur-Pedic International."


The Kentucky Economic Development Finance Authority preliminarily approved Tempur-Pedic for tax incentives up to $8 million through the Kentucky Business Investment program. The performance-based incentive allows the 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.


"By locating a new global headquarters at Coldstream in Lexington, Tempur-Pedic is providing new opportunities for our workforce and a boost to our economy," said Sen. Julian M. Carroll, of Franklin.


"Tempur-Pedic sets the gold standard when it comes to getting a good night's sleep, so I'm proud that the company is taking this next step to increase its presence in the Commonwealth," said Jesse Crenshaw, of Lexington. "This groundbreaking re-affirms the company's commitment to our community and shows that our workforce, like the Tempur-Pedic mattress itself, is truly second to none."


New and existing companies have announced the creation of more than 1,400 new jobs in Lexington during Gov. Beshear's administration. These economic development projects represent a more than $190 million capital investment in the Commonwealth.


For more information on Tempur-Pedic, visit


Information on Kentucky's economic development efforts and programs is available at Fans of the Cabinet for Economic Development can also join the discussion on Facebook at or follow on Twitter at


A detailed community profile for Lexington (Fayette County) can be viewed at


The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2009 totaled nearly $977 million with the creation of more than 6,600 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at

Atlanta-based Allconnect sales and customer care center opens

LEXINGTON, Ky. (July 11, 2011) —Governor Steve Beshear joined community leaders and company officials from Allconnect Inc., a leading consumer services company, to celebrate the opening of the company's new in-bound sales and customer care center in Lexington.


The company announced its decision to locate the new facility in the Coldstream Research Campus earlier this year. The project represents a nearly $7 million investment and approximately 220 new jobs for the community.


"The opening of Allconnect's new Lexington facility represents hundreds of new job opportunities for central Kentuckians and a strong partnership between state and local government and the private sector," Gov. Beshear said. "I am delighted to take part in today's celebration as Allconnect establishes its roots and begins its long-term future in Lexington."


The Lexington Allconnect operation will allow consumers to order or transfer home services, such as satellite and cable TV, Internet, phone, and home security service. Allconnect is based in Atlanta and has relationships with a variety of service providers across the country, including AT&T, Comcast, DIRECTV, DISH Network, Time Warner Cable and Verizon.


"Allconnect's employees approach every customer interaction as an opportunity to create a service experience second to none," said Mark Miller, Allconnect CEO. "We approach our employees' experience and our role in the community the same way. We are thrilled to be a part of the Lexington community and appreciate everyone making us feel welcome."


The Kentucky Economic Development Finance Authority preliminarily approved Allconnect for tax incentives up to $2.2 million through the Kentucky Business Investment program. The performance-based incentive will allow Allconnect 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.

Description: UK CED Vice President Len Heller, Coldstream Executive Director George Ward, and Lexington-Fayette 2nd District Council Member Tom Blues at the Allconnect opening at UK's Coldstream Research Campus.

"Lexington has had a lot of good news lately when it comes to economic development, and Allconnect's grand opening is certainly high on that list," said Rep. Jesse Crenshaw, of Lexington. "I'm glad to see this company opening a UKCED Vice President Len Heller, Coldstream Executive Director George Ward, and Lexington-Fayette 2nd District Council Member Tom Blues at the Allconnect opening at UK's Coldstream Research facility in our community and look forward to working with it in the future. Its arrival will make a lot of families happy."


"It's good to welcome Allconnect, a new corporate citizen bringing jobs to Lexington," said Lexington Mayor Jim Gray. "Our people need jobs and we're competing for jobs in every arena. We appreciate our partners in this work, including the state, the University of Kentucky and Commerce Lexington."


"Commerce Lexington Inc. is thrilled to participate in Allconnect's grand opening event," said Bob Quick, president & CEO, Commerce Lexington Inc. "We have enjoyed working with the company in establishing new operations in Lexington and look forward to continuing our relationship with Allconnect."


For more information on Allconnect, visit For press inquiries, contact Candidates can apply at


Information on Kentucky's economic development efforts and programs is available at Fans of the Cabinet for Economic Development can also join the discussion on Facebook at or follow on Twitter at


A detailed community profile for Lexington (Fayette County) can be viewed at

$28.5 million College of Ag Veterinary Diagnostic Laboratory opens

LEXINGTON, Ky. (May 11, 2011) — The UK College of Agriculture completed a $28.5 million renovation and expansion of its Veterinary Diagnostic Laboratory at Coldstream to better serve Kentucky’s animal agriculture industries. Improvements to the full-service animal health diagnostic facility include new wings for necropsy laboratories and administrative offices. The expansion nearly doubles the size of the previous 38,000 square foot facility. UKVDL faculty and staff handle one of the largest caseloads in the nation, seeing 60,000 clinical cases and performing an average of 4,000 necropsies each year.


Ag Veterinary Diagnostic Laboratory expansion complete at Coldstream

Equinext to develop a medical device for equine lower leg injuries

LEXINGTON, Ky. (April 28, 2011) — Equinext LLC, a new biotech spinoff company, and Hagyard Equine Medical Institute have formed a partnership to bring a medical device to the equine market to treat tendon and ligament injuries and Wobbler's Syndrome in horses and other animals. Equinext will use its chemically-made injectable reagent device on these lower leg strains and sprains, which are very common in all types of performance horses and have a high rate of reoccurrence. Clinical trials are expected to begin in the next year.


EquinextThe Equinext technology, called NEXT™ or Nonsurgical EXogenous crosslink Therapy, provides almost immediate benefits to the horse. It is injected directly into the lesion of the injured tendon or ligament and interacts with the native proteins (collagen) causing the tissue to strengthen and mechanically stabilize so the natural healing process begins. The therapeutic effect is reached within 30 to 60 minutes of application and dramatically reduces recovery time for the horse; some tendon and ligament injuries can take up to a year or more to heal.


Equinext President Eric Hauck brought the NEXT technology to Lexington a year ago when he moved the parent company Orthopeutics-Intralink Spine from Austin, Texas to the University of Kentucky Coldstream Research Campus. Orthopeutics-Intralink Spine will be conducting human clinical trials using the technology as a treatment for Degenerative Disc Disease and related lower back pain.


"We realized shortly after we came to Lexington that our device originally designed to treat low back pain and knee meniscus tears in humans was an obvious cross-over technology for the equine industry," said Hauck. "Lexington is one of the few places in the world for this to happen."

NEXT was developed from the research of Tom Hedman, chief scientific officer for Orthopeutics-Intralink Spine. Hedman, an MIT-trained and NIH-funded professor, moved from Texas A&M University to the University of Kentucky with a joint appointment in neurosurgery and biomedical engineering.


Hedman and veterinarians Kim Sprayberry and Duncan Peters from the Lexington-based Haygard Equine Medical Institute will conduct the Equinext clinical trials. They expect to complete the trials by the third quarter of 2013.


Equine injuries to the tendons and ligaments can affect up to 30 percent of competitive horses with higher rates of occurrence in working horses (horses used for driving, guiding, packing, search and rescue, and police work). NEXT will also be used to treat Wobbler's Syndrome, which causes significant horse loss for the racing industry.


"We are excited to partner with Equinext to bring such an amazing technology to the animal care industry," said Andy Clark, DVM and Haygard Equine Medical Institute CEO. "Our vision is that the NEXT device will revolutionize how we treat these injuries not only in competitive horses, but in pleasure horses and comfort animals as well."


Hauck said, "Our new spinoff company and strategic alliance with Haygard, who have the best equine veterinarians in the business, is the culmination of work by so many people in Lexington."


Parent company Orthopeutics-Intralink Spine was the client of the Lexington city government-Commerce Lexington-University of Kentucky economic development partnership. Hauck also worked with the Kentucky Cabinet for Economic Development that oversees the Kentucky SBIR-STTR Matching Funds Program, which according to Hauck, was the initial impetus for relocating the biotech company and Hedman's research group from Texas to Lexington.


"The Equinext-Orthopeutics story is a great economic development success for our state and for the Lexington-Bluegrass Region," said Len Heller, UK vice president for commercialization and economic development. "As a result of the work of all of the partners, we now have a brilliant new researcher at UK, a new technology-based company at Coldstream that has already created a spinoff, and new high-paying jobs."


Equinext is currently sharing lab space and staff with Orthopeutics-Intralink Spine at Coldstream. Plans call for a separate Coldstream lab and hiring four new staff. Hauck is working with Kentucky's largest sterile pharmaceutical manufacturer, Coldstream Laboratories Inc., to produce the device for the clinical trials. Coldstream Laboratories is also located at the UK research campus.


"It is very exciting to see a technology like this which has multiple applications," said Warren Nash, director of the Lexington Innovation & Commercialization Center and part of the UK commercialization and economic development office, who is working on Equinext. "There is no question that it will have a huge impact on the Lexington-Bluegrass Region's multi-million dollar horse industry."



Orthopeutics-Intralink Spine Inc., the parent company to Equinext, relocated from Texas to the University of Kentucky Coldstream Research Campus last year along with CSO Tom Hedman and CEO Eric Hauck. Read more about Tom Hedman's research. For more information on Orthopeutics-Intralink Spine or Equinext, contact Eric Hauck 512.818.8469.



The University of Kentucky Office for Commercialization & Economic Development creates jobs and grows Kentucky’s economy through the commercialization of research and innovations, R&D industry partnerships, and business development of university spinoffs, startups and Kentucky small businesses. UKCED manages the intellectual property portfolio and assesses, patents and licenses technology. UKCED includes the ASTeCC campus incubator, Coldstream Research Campus, Kentucky Small Business Development Center, Kentucky Technology Inc., Lexington ICC and the Von Allmen Center for Entrepreneurship.

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