Reap Significant Rewards & Join Other Companies Which Have Relocated Their Businesses to Kentucky's Bluegrass Area

LEXINGTON, Ky., Aug. 1, 2011 /PRNewswire-USNewswire/ -- Our innovative Bluegrass Development Partnership (BBDP) recently announced a new initiative targeted to out of state companies participating in the federal Small Business Innovation Research/Small Business Technology Transfer Research (SBIR/STTR) programs.  When a company relocates its business to Lexington, the BBDP will offer each new arrival a one-time rent subsidy of up to $10,000.  

This initiative compliments Kentucky's SBIR/STTR matching funds program which has been recognized as one of the most competitive matching programs in the country.  The program matches Phase I federal awards up to $150,000 and Phase II awards up to $500,000 per year, for up to two years. More information on Kentucky's program can be found at:

http://www.thinkkentucky.com/dci/sbir/sbirsttr.aspx

Lexington has recently recruited seven companies to the area, in large measure because of the unique combination of our low cost of doing business, highly educated workforce, strong ties to the University of Kentucky's researchers and research capacity, as well as to the state's matching program.  This new rent subsidy program will further enhance the funding available to other companies considering relocating to our thriving mid-south community.

Companies that now have a Lexington address that have relocated or located operations here include:

• 3H Company, Hampton, VA
• Advanced Dynamics Inc., Salt Lake City, UT
• ATI, Inc., Charleston, WV
• Exatherm LLC, Ann Arbor, MI
• nGimat Company, Atlanta, GA
• Orthopeutics, L.P., Austin, TX
• Transposagen Biopharmaceuticals, Inc., Philadelphia, PA

In addition to the Kentucky's matching funds program and the local subsidy program, Lexington offers many other funding sources to help companies prosper including tax incentive programs, angel funding, and other state investment programs.

Need more great reasons why your company should relocate to Lexington? Check out these national rankings!  We are the:

• #1 best city for finding a job.  Forbes, 2011
• 4th best place in U.S. for business & careers.  Forbes, 2011
• 13th most highly educated city in U.S. – 40.2% of population 25 years or older has at least a bachelor's degree.  US Census Bureau, 2009 ACS
• 7th most educated city with an advanced degree – 16.6% of population over age of 25 has a masters, professional or doctorate degree.  US Census Bureau, 2009 ACS
• 4th least expensive location for medical device manufacturing.  The Boyd Company, 2011
• 2nd most educated workforce.  Business Facilities, 2008
• 7th best city in terms of business costs.  KPMG Competitive Alternatives, 2010
• 5th ranked College of Pharmacy at the University of Kentucky.  U.S. News & World Report
• Home of University of Kentucky's Coldstream Research Campus & Advanced Science & Technology Commercialization Center (ASTeCC)

Interested in more information? Call Gina Greathouse at 859-226-1623 or Warren Nash at 859-257-6871 to learn more about this new incentive program and why Lexington  just might be the perfect new address for your business venture.

SOURCE Bluegrass Development Partnership