Lexington Business News – June 2021
MONEY
Apple Invests
According to U.S. News and World Report, Apple has “invested another $45 million to support Corning Inc.’s work to supply glass for the tech giant’s iPhones and other devices. The latest investment will expand Corning’s manufacturing capacity and ‘drive research and development into innovative new technologies that support durability and long-lasting product life,’ Apple said. Scratch-resistant glass for every generation of iPhone has been made at Corning’s plant in Harrodsburg, Kentucky. Corning also supplies glass for iPads and Apple Watches.”
Apple CEO Tim Cook tweeted, “Since the first iPhone, we’ve partnered with Corning in Kentucky to create the most durable glass in a smartphone.”
Small Business Economic Recovery Program
Commerce Lexington Inc. once again manages the Small Business Economic Recovery Program through its existing Access Loan small business financing program. Eligible small businesses can apply for up to $25,000 based on sustaining or increasing employment and/or payroll within one year following the grant award. The main difference in this year’s Economic Recovery Program is that small businesses have benchmarks to meet for additional employment and/or payroll. Companies that do not meet those benchmarks will be required to pay back the grant based on a sliding scale related to their performance. Businesses must meet the following criteria to apply for grant assistance:
- Be located in Lexington/Fayette County.
- Have a current business license filed with the City.
- Have been in operation since January 1, 2021.
- Restricted to sole proprietors, limited liabilities, corporations, not-for-profits or nonprofits.
- Maximum of 50 full-time equivalent employees (max of 100 for restaurants).
- All business taxes, payroll taxes and other payments to the City & the Commonwealth of Kentucky must be current.
- Show ability to retain or exceed current employment and/or payroll levels.
HOSPITALITY
Penguin Passport
21C Museum Hotels is launching a limited-membership loyalty program, Penguin Passport, with unique perks available to the first 250 people who join. Members will have to have stayed at two 21c Museum Hotels before becoming part of the program, and once confirmed, members will receive a physical passport to collect stamps with each stay. 21c Museum Hotels has locations in Lexington, Louisville, Nashville, Cincinnati, and Chicago, Kansas City, and more.
Marriott Griffin Gate Resort Renovation
Marriott Griffin Gate Resort has almost completed its $30 million-dollar renovation. The renovations include a completely redesigned front entrance, the lobby, a newly renovated outdoor pool with cabanas, and room for outdoor dining.
Now Open
Home 2 Suites Lexington Hamburg hosted a ribbon cutting in May.
Coming Soon
A new boutique hotel has been announced for Lexington’s Distillery District. The six-story, 125-room hotel will be located on Manchester Street. The hotel, which has yet to be named, will feature event space, a restaurant and rooftop bar.
OPEN FOR BIZ
The Blushery is a new retail shop—meets—wine bar—meets—ladies’ lounge on National Avenue.
Lexington Salt Cave opened on North Ashland Avenue in April.
PEOPLE
Commerce Lexington Inc. is among the top economic development agencies in the nation, according to Site Selection magazine’s May issue, for the third time in the last four years. Organizations named to the list are presented with the Mac Conway Award for Excellence in Economic Development, which recognizes the top local and regional economic development agencies that were the most successful with capital investment projects in 2020.
CHI Saint Joseph Health officially welcomed new CEO Anthony A. Houston during an investiture service at Saint Joseph Hospital.
The Lexington Legends welcomed Brandon Phillips as the newest member of the team’s ownership group. Phillips is a four-time Gold Glove winner, Silver Slugger winner, and three-time MLB All-Star and World Series champion.
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This article also appears on page 4 and 5 of the June 2021 print edition of ace magazine.
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