Economic Development

 

"We’re working to attract investment throughout our city and ensure that entrepreneurs in every ZIP code have equitable access to capital, so they can grow their businesses, renovate their buildings, buy equipment and create jobs."

— Mayor Fischer

 

Louisville has seen more than $13 BILLION in capital investment since 2014, and more is on the way.

80,000 jobs created | More than 2,700 businesses created —  just since 2011!

Appriss, which employs 600 people in high-tech, high-wage jobs, cut the ribbon on its new headquarters in Jeffersontown.

 

Year of breakout stars

Louisville’s tech market is soaring, with the growth of such homegrown success stories as Appriss, WeatherCheck, iKeyless, SkuVault and SentryHealth. With that growth, our city is poised to rapidly scale its knowledge-based economy in 2019 and beyond.

 

Wellness and Aging Care Innovation

With a dynamic ecosystem that includes the Louisville Healthcare CEO Council, created in 2018, The Thrive Center, and XLerate Health, Louisville is an international destination for aging and health tech leadership. We are writing the next chapter on caring for the nation’s aging population.

Here are some of our 2018 highlights:

  • University of Louisville, Louisville Healthcare CEO Council, XLerateHealth, GLI’s EnterpriseCorp and other partners received a $1.3 million state grant to create the Louisville Entrepreneurship Acceleration Partnership (LEAP), which will connect entrepreneurs with leaders in Louisville’s health care sector. 
  • Kindred Healthcare opened its $40 million headquarters expansion;
  • BrightSpring Health Services, formerly ResCare, moved into its expanded $34 million headquarters, and recently announced plans to merge with PharMerica Corp., creating a company that will serve more than 300,000 clients daily in 44 states and the District of Columbia;
  • Lacuna Health continued expanding its RN-staffed contact center, which assists patients in navigating the health care system, and created 100 new jobs;
  • Specialty pharmacy company Onco360 cut the ribbon on its new cutting-edge facility, creating 50 new jobs.
  • The University of Louisville announced a substantial gift from the Trager family and Republic Bank Foundation that will continue the work of U of L’s Institute for Sustainable Health and Optimal Aging, which will be renamed the Trager Family Institute for Optimal Aging.

 

Manufacturing/Innovation

  • GE Appliances announced a $200 million investment to expand its production line, creating 400 new jobs. The company also is partnering with JCPS on GEA2DAY, which allows 150 students to work there part-time, two days a week, earning up to $14 an hour, and up to $6,000 a year for college,  while gaining on-the-job experience.
  • KCC Manufacturing’s $24 million expansion created 135 new jobs in Jeffersontown.
  • Ring Container Technologies’ new $23 million manufacturing plant created 41 new jobs.
  • Georgia-based Lummus Corp. announced it’s moving its headquarters to Louisville, a $5.2 million investment, creating 45 new jobs.
  • Jefferson Riverport International Phase 5, a 164-acre expansion, is ready for development.

 

Small business

  • Local startup Cuddle Clones landed on the Inc. 500 list for its fast growth – 583 percent over three years.
  • Logan Street Market, a dynamic new food hall concept, broke ground, connecting Shelby Park, Smoketown, Old Louisville, Germantown and Schnitzelburg with access to bakers, brewers, cooking and culture. The Market is set to open in 2019.
  • Falls City beer revived its iconic Louisville brand with a $2.1 million tap room and brewery.
  • Louisville Forward launched its free Food Entrée-preneurship Series, which fosters development of new restaurateurs and food entrepreneurship.
  • SmartAsset named Louisville a Top City for Millennials and New College Grads
  • Southern Business & Development named Louisville Co-Major Market of the Year, along with Nashville
  • Forbes named Louisville the nation’s Aging Care Capital, Top 15 City for affordable living, and a Top City in Manufacturing
  • Site Selection magazine recognized Louisville Forward as a Top Economic Development
  • Group – four years running 
  • The U.S. Conference of Mayors honored Mayor Fischer, a lifelong entrepreneur, as its
  • Small Business Advocate of the Year for 2018

 

West Louisville

  • Louisville Metro contributed $10 million to support the Louisville Urban League’s planned $35 million state-of-the-art Sports and Learning Complex at 30th Street and West Muhammad Ali Boulevard.
  • Nearly $1 billion in investments has been announced in west Louisville
  • There’s a rebirth at 18th Street and Broadway:
    • $130 million Passport Health Plan HQ expansion; 500 new jobs
    • $28 million, 62,000-square-foot Republic BankcFoundation YMCA
    • The city’s first-ever Bus Rapid Transit system
    • Other investments range from Kentucky Bourbon Barrel’s opening on West Hill Street to Zoeller Pump’s expansion on Cane Run Road.

 

Vision Russell

  • Construction has begun on Phase 1 of the expected $250 million Beecher Terrace redevelopment, with a 117-unit, energy efficient, lifelong wellness residence building. Phase 2 starts in Spring 2019.
  • Sheppard Park got a new spray park, walking path and swings, and five SmART bus shelters were added along key transit corridors, along with gateway murals, designed by local artists in collaboration with the community.

 

 

Built Environment

  • New market-rate homes were completed on Cedar Street, in partnership with Community Ventures and REBOUND.
  • A $17.5 million renovation of the Henry Greene Apartments will modernize the existing 124 affordable units with energy-efficient updates and safety changes.
  • The $200 million MSD Waterway Protection Tunnel is under construction; expected to be complete by 2020.
  • The city is partnering with OneWest, a nonprofit organization formed in 2014 to help drive commercial development in west Louisville. In fall 2018, OneWest purchased its first property on 18th Street with
  • Land has been acquired and fundraising is underway for the $35 million Waterfront Park Phase IV, 22-acre expansion between Ninth and 15th streets.

 

Tourism

  • 16.4 MILLION — Louisville hosts more than 16.4 million visitors annually, for an
  • estimated economic impact of more than $3.5 billion, supporting more than 27,000 tourism-related jobs.
  • Adding to the skyline, the 30-story Omni Louisville Hotel opened in spring 2018, featuring 612 rooms, 225 luxury apartments, event spaces, bars and restaurants. It’s one of nearly two dozen hotels recently opened, under construction or planned.
  • Downtown jewels like the Marriott, the Hyatt, the Galt House and the Brown are altogether investing more than $200 million in upgrades and renovations.
  • More than $100 million in improvements are planned for Louisville International Airport, now offering 33 nonstop flight destinations.  American Airlines recently announced new nonstop service between Los Angeles and Louisville with flights starting April 2, 2019.
  • Topgolf, a nationally known premier entertainment complex, announced plans to build a complex in Louisville, and is expected to create 500 jobs, generate $264.5 million in economic impact.
  • Two years after his death, Muhammad Ali continues to draw tourists to his hometown, including those who come for the global Muhammad Ali Humanitarian Awards, the I Am Ali Festival, and the Muhammad Ali Center downtown.
  • We broke ground for the $200 million development in Butchertown, set to open in time for back-to-back USL Cup Champion Louisville City FC’s 2020 season.
  • Forbes named Louisville among its Top 10 Coolest Cities to Visit in 2018
  • Travel + Leisure added Louisville to its lists of America’s Favorite Cities Overall and America’s Friendliest Cities
  • Yelp called Louisville one of the Hottest Hipster Markets in America
  • Conde Nast named Louisville to its list of U.S. Places Perfect for a Weekend Getaway
  • VinePair ranked Louisville in its list of the “World’s Top 10 Beer Destinations for 2018”
  • Lonely Planet named Kentucky a “Top 10 Destination” to visit in 2018
  • Southern Living ranked Louisville on its list of “15 Incredible Solo Vacations to Take in the South”
  • Millions of TV viewers are experiencing Louisville’s cuisine and culture as the city is featured on the 2018-19 season of the acclaimed Bravo TV show “Top Chef.”

BOURBONISM

  • The city’s first-ever 365-day tourism experience
  • Nine urban bourbon experiences are open or under construction, representing more than $150 million in investment. This year we welcomed Old Forester Distillery and Rabbit Hole Distilling to the growing urban bourbon movement, with Michter’s Distillery expected to open in early 2019.
  • The Kentucky Bourbon Trail Welcome Center at the Frazier Museum opened this fall, offering a bourbon gateway and concierge service for guests planning a journey of distilleries and bourbon attractions
  • The Barrel, a functional gathering space for visitors, was unveiled in the heart of the Bourbon District at Fourth and Main streets.

 

Looking ahead

  • Louisville will be the place to be for music, food, bourbon and festival lovers in September 2019, with globally acclaimed acts at the two-day country music festival, Hometown Rising; three-day rock & roll music festival,Bourbon and Beyond; and three-day hard rock music festival, Louder than Life.
  • Redfin called Louisville one of the Best Cities for Whiskey Lovers
  • Forbes described Louisville as the “Center of American Spirits”
  • Mayor Fischer’s Bourbon and  Food Work Group Report won the International Economic Development Council’s Gold Award for Best Multi-Year Economic Development Project
  • James Beard Foundation announced that Louisville is one of its 10 “Taste America” cities
  • Fact: Over the past five years, Louisville’s Food and Beverage cluster has generated more than $160 million in capital investment, employing well over 15,000 individuals.