Central Kentucky is poised to see the benefits of the state’s focus on tourism, officials said. In November, Gov. Andy Bescher announced the state had approved nine new tourism projects, including two in Central Kentucky. In Lexington, the state approved the Lexington Sporting Club, which is expected to generate $25.4 million in investment. In November, the Lexington-Fayette County City Council approved $1 million in infrastructure spending for a more than 5,000-seat stadium near Athens-Boonsboro Road and the I-75 interchange. The project includes a stadium and children’s and youth sports fields for football.
In Hardin County, the state approved the Elizabethtown Courthouse Hotel, which is expected to generate an $8.2 million investment. This project will transform the former HB Fife Courts into a 25-room boutique hotel. Officials said the third floor, the former courtroom and judges’ chambers, will be converted into a restaurant and bar.
The projects were approved for funding through the Kentucky Development Incentive Program, which supports the development, restoration and expansion of tourism projects. Once approved, developers can recover up to 25 percent of the project’s development costs over a 10-year period through locally generated sales tax.
Officials with the Kentucky Tourism Development Finance Authority said the nine projects approved in 2023 are the most final approvals received in a single year since the inventive program was created in 1996.
Incentives to help tourism have paid off for Kentucky in recent years. Officials said the state saw an economic impact of nearly $13 billion from tourism in 2022, creating nearly 92,000 jobs.
Tourism Commissioner Mike Mangio said the investment promises to boost the state’s tourism appeal. “What we are seeing is that the success and growth of our tourism industry is driving investment in multiple projects,” Manjo said. “It’s not just an investment in distilleries, but in Keeneland, in airports, in hotels and other attractions.”
Tourism, Magno said, drives business. The goal, he said, is to help communities across the state develop tourism projects, regardless of their size. Government investment in tourism generates more jobs, more accommodation and more attractions that attract more travellers. “It helps broaden our appeal as a tourist destination and all of that collectively goes into that.” [tourism] a pot, if you will, he said. “Our ultimate goal is to be able to provide great, affordable, memorable and authentic travel experiences here in Kentucky.”
Creating these experiences translates into real dollars. In 2022, 75.9 million travelers visited Kentucky, spending $8.9 billion, according to Tourism Economics magazine. Tourism generates nearly $1 billion in state and local taxes, which equates to a tax savings of $536 for every household in the state. Officials said in-state visitors were 103 percent of 2019 volumes and that visitor spending was 112 percent of 2019 totals.
“Tourism is essential to Kentucky, and that’s why I’ve made it a priority to support this industry. It’s exciting to see our hard work pay off in such a historic way,” Bescher said. “From horse country and outdoor adventure to history, arts, culture and our world-famous bourbon, Kentucky has something for every traveler – but what really sets us apart is the hospitality and kindness of the hardworking Kentuckians in this industry.”
The impact of tourism in Fayette County is increasing, said Mary Quinn Ramer, president of VisitLEX. She said the coming years should be good for tourism in the area. “We’re obviously really excited about the ballpark and what it’s going to do,” she said. “We will be able to [host] many more tournaments, which is a great win for our city. Some of these tournaments can bring up to 100 teams and they are played in months like November and February when we don’t necessarily have peak demand for hotels.”
She also said she has conventions booked for this year and next year. “We are fully recovered from the pandemic, which is fantastic,” she said. “Our outlook for the 2024 convention is ahead of the pace we were at before the pandemic. We have been fortunate compared to a number of other cities in the country that our convention business has returned. Obviously, that speaks to our brand new convention center, which was a huge win. We have really enhanced our offerings in the meeting and convention space.”
The city is also planning to mark its 250th birthday next year, which will start in 2025. “There will be lots of opportunities to celebrate and also to reflect on the history of the city and I hope the locals are really excited about that.” . I also hope we have a few events that will attract people from out of town,” she said.
In Woodford County, Visit Woodford Executive Director Emily Downey said economic development and tourism go hand in hand. Focusing on attracting tourism helps business during the slow months. Likewise, working with economic development efforts helps give tourists a reason to visit the county.
New tourism initiatives in Woodford County include focusing on Woodford County as the birthplace of bourbon, partnering with other counties to establish bike trails, and educating travelers in larger markets like Columbus, Indianapolis, Charlotte and St. Louis about the area’s charms.
“Our number one goal is for everyone to come and have a great time in Woodford County,” she said. “We want them to discover the most fascinating county they’ve never heard of. Our focus is telling our story and building our brand. It’s never about a number, it’s about providing an authentic experience that will entice people to come back.”
