News & Events

Gov. Beshear announces Allylix to expand in Lexington, add 14 jobs

LEXINGTON Ky. (Oct. 3, 2012) – Governor Steve Beshear today joined local and company officials in Lexington to announce an expansion for Allylix Inc. The renewable chemicals company plans to add 14 full-time jobs, invest more than $1.6 million in the Commonwealth and add 3,700 square feet of laboratory space at the University of Kentucky’s Coldstream Research Campus.


“Allylix is developing new technologies that can change industries, and that type of innovation is exactly what we embrace here in the Commonwealth,” said Gov. Beshear. “We’re thrilled at how successful this partnership has been and that Allyix is adding new jobs and expanding its research capabilities in Lexington to support its commercial products worldwide.”

Allylix develops products for the flavor and fragrance, food ingredient, cosmetic chemicals, insect repellent and biofuel markets.


The company controls intellectual property with 62 issued patents and multiple U.S. and foreign applications. Allylix’s platform technology allows it to engineer yeast strains that, through proprietary fermentation processes, produce a wide range of specialty chemical products.


“Kentucky has been a terrific place to grow a company,” said Carolyn Fritz, CEO of Allylix. “In Lexington, we have had access to a highly educated workforce, top-notch facilities and funding; all in a region with a great quality of life for our employees.”


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. 


“I am excited that Allylix is further investing in the community and creating new opportunities,” said Sen. Julian M. Carroll, of Frankfort.The community, along with the surrounding counties, will reap the rewards of economic growth with the company increasing its laboratory space at UK’s Coldstream Research Campus. I also applaud Gov. Beshear for taking the lead to support our industry, their employees and their families.”


“The Commonwealth has spent the better part of the last 10 to 12 years pursuing agricultural-related industries,” said Rep. Ryan Quarles, of Georgetown. “We’ve seen more and more firms like Allylix come to Kentucky, and we are pleased our business climate allows them to expand their workforce and investment at Coldstream.”


“Congratulations, Allylix, for finding a recipe for success in a tough, competitive industry by producing aromas and flavors that thus far only nature has been able to make,” Lexington Mayor Jim Gray said. “This company is another example of UK brainpower producing good jobs. We’re glad you’re here and we look forward to continued growth.”


“We have been pleased to work with Allylix over the years, and even more excited to see it progress through the business growth process, from the startup stage to commercialization and now to expansion,” said Commerce Lexington Inc. president and CEO, Bob Quick. “The Bluegrass Business Development Partnership is proud to have Allylix in Lexington and excited to see its future success.”


For more information on Allylix, visit



Kerri Richardson




Terry Sebastian




Mandy Lambert


International law firm to locate global services center at Coldstream

former IBM building on Coldstream campusLEXINGTON, Ky. (September 12, 2012) — Bingham McCutchen LLP, an international law firm based in Boston, plans to add at least 250 jobs to Lexington’s economy by creating a shared-services center at the University of Kentucky Coldstream Research Campus next spring.


The center at Coldstream will consolidate the firm’s professional support staff in information technology, knowledge services, finance and accounting, human resources, marketing, operations, and risk management. The center will eventually house at least 250 employees, some relocating from existing Bingham offices and others to be hired from the Lexington area.


The jobs will pay an average of $37 an hour and will support Bingham’s 1,000 lawyers in 14 major offices in the United States, Europe and Asia.


Bingham Chairman Jay Zimmerman said, “For Bingham, Lexington is an excellent fit. I am impressed by the vitality of the city, the warmth of the people and the business-friendly environment.”


The effort to bring the firm to Lexington was a collaborative endeavor by the University of Kentucky, Commerce Lexington, the state Economic Development Cabinet, Governor Steve Beshear, and Lexington Mayor Jim Gray.


“It is a testament to the cooperative work of a number of deans and departments on our campus, as well as our continued close partnership with Commerce Lexington,” said UK President Eli Capilouto.


Mayor Gray called the firm’s announcement “the best news we’ve had since the recession started in 2008. Clearly it was worth pulling out all the stops. So we did, as did the governor and state officials.”


UK Coldstream Research Campus Executive Director George Ward said, “We are proud that national site-selection consultants, and the companies they represent, are seeing the potential and value of Lexington’s thriving entrepreneurial community, low cost of living, top-notch research university, and one of the most educated workforces in America. It is especially gratifying when they select the Coldstream Research Campus and help further develop Lexington’s gateway.”


Bingham has committed a $22.5 million investment and will occupy the former IBM building at Coldstream under a 10-year lease. The transition of Bingham’s administrative functions to Lexington will begin in April 2013 and continue through the spring of 2014. Bingham is working with Deloitte Consulting in the planning, design and implementation of its new global services center.


Deloitte and Bingham looked at 300 metropolitan areas, eventually narrowing it to three.  The other two locations, which have not been disclosed, were significantly larger than Lexington, according to Deloitte’s Mark Klender. Bingham selected Lexington because of its access to a dynamic workforce, a developed academic community, and a vibrant quality of life, said Bingham Chief Operating Officer L. Tracee Whitley.


“The Commonwealth of Kentucky and the City of Lexington joined forces to offer us the most competitive incentives package of the metropolitan areas we considered. It will enable us to get up and running quickly in Kentucky. In addition to the strong business opportunity presented, we found in Lexington an inviting community and a shared sense of values, which we believe our people will embrace,” said Whitley.


For more information, see Bingham's press release.

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

Syndicate content