Moving to Lexington, KY
With its abundance of technology and government jobs, Lexington has one of the nation’s most stable economies. Economists have referred to Lexington as having “a fortified economy, strong in technology, manufacturing and entrepreneurial support, benefiting from a balanced, diverse business base”. The Lexington Metro Area had a July 2008 unemployment rate of only 5.4%, compared to national average of 6.1%. Lexington was named the 5th best city for “Businesses and Careers” in 2008 by Forbes Magazine, and the 5th best city for Young Professionals in 2008 by Kiplinger.
As such, the city isthe homebase to several large corporations. There are three Fortune 500 companies located within the city, Affiliated Computer Services, Lexmark International and Hewlett Packard, employing 1,200, 3,450, and 250 respectively. Trane, United Parcel Service and Amazon.com, Inc. have a large presence in the city, and Toyota Motor Manufacturing Kentucky is included in the Lexington CSA in adjoining Georgetown. The city is also host to a Jif peanut butter plant that produces more peanut butter than any other factory in the world, and to the Forcht Group of Kentucky, a holding company that employs more than 2,100 people across Kentucky. Forcht Group operates several businesses in Lexington including Kentucky National Insurance Company, First Corbin Bancorp , My Favorite Things, BSC , a bank data services company, and First Lab, among others.
Another large employer, the University of Kentucky, employs 10,668, however, it does not include the College of Agriculture’s Cooperative Extension Service which has a staff of over 900. The University is the 9th largest economic company in the state of Kentucky, with an annual budget of $1.4 billion, and the College of Medicine within the University is the 21st largest company in the state.
Other sizable employers include the Lexington-Fayette County government and other hospital facilities. This includes the Fayette County Public Schools, employing 4,651, and the Lexington-Fayette Urban County Government, employing 3,936. Central Baptist Hospital, Saint Joseph Hospital, Saint Joseph East , and the Veterans Administration Hospital employ 6,206 total.
See also: List of schools in Lexington, Kentucky
According to the United States Census, of Lexington’s population over the age of twenty-five, 22.4% hold a bachelor’s degree, 11.4% hold a master’s degree, and 3.1% hold a professional degree. Just 2.6% hold a doctorate degree. Lexington was also ranked 10th in a list of America’s most educated cities with a population of more than 250,000, ranked by percentage of bachelor’s degrees among residents 25 and older, according to the United States Census Bureau. A report released by Jack Miller, president of Central Connecticut State University, Lexington ranks 13th in the United States in terms of literacy rate. The index was compiled through6 indicators of literacy, including newspaper circulation, Internet sources , the number of bookstores, library resources , education and periodical resources.
The city is served by the Fayette County Public Schools. The system consists of 5 high schools, 11 middle schools, and 33 elementary schools, along with six private schools. There are also two traditional colleges, the University of Kentucky and the state’s oldest, Transylvania University. Other institutions of higher learning include Bluegrass Community and Technical College, Sullivan University, Spencerian College, Strayer University, Commonwealth Baptist College, and a newly opened distance learning extension of Indiana Wesleyan University.
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