City officials have dubbed the effort “Project Yacht.”
An unnamed company is promising at least 50 jobs and more than $25 million in upgrades to a vacant building should the business choose Lexington.
This week, the City Council unanimously approved over $83,000 in incentives to help make that happen.
The average wage is expected to be about $54,000. City Manager Johnnie Taylor says it’s not clear when the company will announce its decision.
“That is left up to the Department of Commerce and the company,” he says. “But as soon as a decision is made, then there would be an announcement from the Department of Commerce that would come to us.”
The Council also approved a resolution of support backing the project’s application for a $250,000 grant from the state Commerce Department’s Rural Economic Development Division.