The Lexington City Council approved Monday an economic incentive package for a manufacturer identified as “Project Yacht.”

The unidentified manufacturer has pledged to create at least 50 full-time jobs and spend at least $25.8 million on capital investments over three years.

City Manager Johnnie Taylor told council Project Yacht "provides materials for a lot of different manufacturers" nationwide.

Project Yacht capital investments would include real estate and leasing arrangements, equipment and machinery.

There would be 15 jobs created by Nov. 1, 2026, as well as an additional 19 jobs by Nov. 1, 2027, and an additional 16 jobs by Nov. 1, 2028.

Project Yacht would pay an average annual wage exceeding the county annual average of $45,803.

In return, the city council would make the com

See Full Page