A new research facility is coming to the University of Kentucky’s Coldstream Research Campus.
Representatives from UK, the Woodbury Corporation and state and local officials recently announced the new research lab, known as “The Core – Collaboration. Research. Entrepreneurship.” The Core will offer services and office space to accelerate the growth of start-up high tech companies from across Kentucky.
What’s inside The Core
The new $15 million development includes open desk seats, single offices or multiple office configurations, laboratory space, assembly space and shared facilities like a kitchen and break room, conference rooms and lobby space.
Some key attributes of the new building include:
24 desk seats
Up to 4,000 square feet of laboratory space
20,000 square feet of traditional office space
Roll-up door for truck deliveries
Easy access to UK’s campus, Bluegrass Airport and downtown Lexington
The research lab will also bring a needed wet lab space to Central Kentucky and working space that has easy access to interstates for travel. Construction of the new facility is expected be complete in early 2022.
A gateway for success
“An important part of securing a brighter future for Kentuckians is our ability to establish Kentucky as a premier destination for high-tech businesses,” Governor Andy Beshear said in a press release.
Gov. Beshear said the research lab will be a gateway for those looking for a next step in their development and will ensure the sustained success of businesses in the Commonwealth bringing jobs, economic opportunity and products to improve people’s lives.
Kentucky Technology Inc. (KTI), a subsidiary of the UK Research foundation will master lease 20,000 square feet of the estimated total 40,000 square feet. Officials said KTI plans to sublease its space to growing companies in the tech industry drawing on those already in the state as well as others coming from outside.
An innovative P3 partnership
UK officials said strengthening the economy starts with partnerships – particularly with the city and business communities. After the challenges faced this year, leaders at the university said they are proud to play a part in Kentucky’s future growth.
The Core was made possible through a public-private partnership with the Woodbury Corporation, the company developing the facility, as well as the Product Development Initiative (PDI), a statewide program dedicated to helping make building improvement projects a possibility in Kentucky communities.
The Kentucky Cabinet for Economic Development and Kentucky Association of Economic Development established the PDI in 2019, which aims to create jobs and corporate investment by enhancing Kentucky’s buildings while spurring collaboration amongst economic developers.
To learn more about The Core and UK’s Coldstream Research Campus visit UKY.edu/coldstream.