Life Sciences Industry Continues To Thrive

Locations attract biotech, pharmaceutical, and medical device companies by meeting their need for educated workers and access to resources.

Lexington, KY: An Innovation Corridor

Sitting at the crossroads of two major interstates—I-75 and I-64— and within a day’s drive to more than two-thirds of the U.S. population, Greater Lexington is the innovation corridor of Kentucky’s biotechnology landscape.

Its strategic positioning not only enhances its allure to biotech companies but also highlights its logistical supremacy. Boasting proximity to a state-of-the-art UPS cold storage facility facilitating overnight global deliveries, as well as seamless connectivity to major interstate networks, Greater Lexington offers unparalleled strategic advantages for businesses navigating a dynamic global market.

The Greater Lexington Region’s biotech ecosystem is anchored by the presence of the University of Kentucky (UK) and its robust research programs in the life sciences. With an annual research and development budget approaching $500 million, UK stands as a pioneering force in groundbreaking discoveries. The UK College of Medicine and Markey Cancer Center have been instrumental in driving advancements in medical research and attracting top-tier talent to the region. UK’s College of Pharmacy is ranked No. 6 in the nation and features the largest pharmacy education and research building in the world.

Life Sciences Industry Locations
With three airports within an hour’s drive and more than 100 direct daily flights, Greater Lexington’s strategic location provides unparalleled connectivity for businesses in the biotechnology sector. (Graphic: Courtesy Greater Lexington)

 

In addition, Lexington is home to UK’s Coldstream Research Campus, a 735-acre research and development business park, specifically designed for recruiting high-tech and biotech companies, as well as university centers and start-ups. Coldstream thrives as a dynamic hub of innovation hosting more than 50 organizations in biotech, pharmaceuticals, and more, serving as a vital link between innovative companies, educational institutions, and recreational amenities.

The area also benefits from the presence of Bluegrass Community and Technical College (BCTC). BCTC offers associate degrees and certificates and places an emphasis on STEM courses in numerous programs.

State and local governments, economic development organizations, and academic institutions have played a pivotal role in supporting the growth of the biotech industry in Greater Lexington. Through tax incentives, grants, and strategic partnerships, these stakeholders have cultivated an ecosystem that fosters collaboration between academia and industry, spurring innovation and economic growth.

This collaboration has recruited 28 SBIR/STTR funded companies to the region under Kentucky’s SBIR/STTR Match Program. In early 2024, Governor Andy Beshear announced the recipients of four grants through the state’s program.

Three of those are based in Lexington, leading advancements in energy systems cybersecurity (Covert Defenses), biopesticides (Lepidext), and Alzheimer’s care technology (VRTogether).

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The success stories of pioneering biotech companies such as Alltech and Neogen Corporation, alongside recent entrants like Funai Microfluidic Solutions, underscore Greater Lexington’s potential as a hotbed for innovation and growth. These companies exemplify the region’s ability to attract and retain cutting-edge firms that drive economic development and job creation.

The Greater Lexington Region is committed to fueling the growth of the biotechnology industry in the Bluegrass. Its educated workforce, strategic geographic location, low cost of doing business, and high quality of life are among the area’s strongest assets.

Lexington has leveraged its culture of innovation and commercialization, a superior business climate, UK’s top-ranked research programs, and an expansive network of medical centers to provide an environment where a diverse life sciences industry can grow and thrive.

Visit www.locateinlexington.com for more information.


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