Louisville is the largest city of Kentucky which sits on the Ohio River along the Indiana border. It is one of two cities in Kentucky labeled as first-class.
Louisville’s geography, precisely its river accessibility, central location, and its mild climate have contributed to its historical significance as a midpoint for industry and commerce.
Kentucky became a mining and agricultural state, but Louisville has significantly diversified its economic base at present. The city has conventionally been a manufacturing center for sturdy goods such as appliances, cars, and trucks. And because of the drastic expansion of Louisville’s economy, the city was able to bring more skilled and advanced employment opportunities.
Like the other cities of the State of Kentucky, Louisville is enduring a new era of economic development. Both the public and private sectors are working hand in hand to entice new industries while retaining current businesses.
Greater Louisville Inc. is the agency designated to work with new and existing businesses to promote new jobs and capital investment in the city Louisville. It was founded by the merger of the Greater Louisville Economic Development Partnership and the Louisville Chamber of Commerce.
There are many incentives available in Louisville at present, and these are the following:
- Kentucky Jobs Development Act
- Kentucky Industrial Development Act
- Bluegrass State Skills Corporation
- industrial revenue bonds
- community development block grants
- low-interest loans
- foreign trade zone
- enterprise zone
- job recruitment and placement
- Indiana incentives
Many years ago, a two-phase plan was revealed for significant construction and restorations at one of the city’s largest attractions, the Churchill Downs.
The newest development in the city includes the Southeastern Christian Church. It is a seven-story building, approximately circular-shaped structure featuring white molded concrete exterior wall panels and a copper-colored rooftop.
The Louisville Extreme Park is another developmental project done for the public. It is a skatepark owned and operated by Metro Louisville. The said park features a 24-foot full pipe, about 40,000 square feet of outdoor concrete skating surface and a vertical ramp made of wood intended for skateboarders, inline skaters, as well as bikers.
Now, this public entertainment area offers restaurants, bars, nightclubs, and a comedy club, as well as a food court and many retail shops.
Louisville also has numerous development projects on the drawing board or in the first stages of completion. The Kentucky Center for African American Heritage project covers the renovation of four historic trolley barns which is the focus of the story of African Americans living in Kentucky.
On the other hand, Center Development Corporation was formed to capitalize on the economic development prospects in the Medical Center. It aims to supplement its research park facilities which presently comprises with life science, medical device, and healthcare technology businesses. The prearranged expansion roughly contains 700,000 square feet of wet lab and office area.
This beautiful small town has an ideal and supportive local small business society, which consist of the Chamber of Commerce, the Louisville Business Network, and some other groups where people gather together to give their warmth support for one another.
Today the City of Louisville is frequently acknowledged for its capability to provide a comfortable living to the residents. A lot of things add to its standard quality of life and favorable economic situation. And these essentially include the renowned 1,700 acres of open space, dozens of elegant eateries, a flourishing arts scene, outstanding schools and universities, beautiful neighborhoods and countless employment opportunities for everyone.