Business & Economy
Since its inception, Lexington has been considered a jewel socially and culturally against a backdrop of natural beauty and the powerful horse breeding and racing industry. Economically, the city is no different. It is a consistent draw for millions of tourists each year, has proven itself as a proven business anchor and leader to several national and international companies and attracts new professionals and families to its neighborhoods annually because of a lower than average standard of living and quality of life for a city of its size.
Lexington is centrally located within a day’s drive of 75 percent of the United States population. Serving as a catalyst for commerce, in part is the merger of interstates 75 and 64. Additionally, Lexington is close to anywhere by air with about 100 direct and nonstop flights out of the city.
Traditionally the area's economy has been based on horses and tobacco, but since 1950 it has increasingly become a manufacturing and university-based economy. Also, Lexington functions as the major medical and commercial center for a large part of Kentucky.
Major employers in the Lexington area include: Affiliated Computer Services, Ashland, Inc., Amazon.com, Inc., Clark Material Handling Company, General Electric Company, GTE Products Corporation, Lexmark International, Link-Belt Construction Equipment Company, Smucker’s, Square D Company, Tempur-Pedic, Toyota Motor Manufacturing, U.S.A, Inc., Long John Silver’s, The Trane Company, The Valvoline Company, Unite Parcel Service and the University of Kentucky.
Lexington has been rated as one of America's premier cities by the likes of Forbes magazine, the U.S. Census Bureau, Dun & Bradstreet, Ladies Home Journal and Places Rated Almanac, among others.
Another business resource is the Lexington Partnership for Workforce Development, a private, nonprofit organization that assists with workforce development needs of the Lexington area. The LPWD facilitates and convenes corporate, education and community leaders in Central Kentucky to collaboratively bring solutions to long-term education and workforce development by making the best possible use of all available resources.
Demographics
As of 2000, the estimated population of Lexington/Fayette County area was 260,512.
The median income for a household in the city is $39,813, and the median income for a family is $58,677.
Men have a median income of $36,166 versus $26,964 for women.