LEXINGTON, Ky. (WKYT) Lexington has been chosen out of over 300 other locations to be the new home to a Global Services Center for an international law firm.
Bingham McCutchen LLP announced that it plans to open a shared-services center in Lexington.
"The Global Services Center will position us to operate even more efficiently in an ever-changing, highly competitive economy," said Chairman Jay Zimmerman.
The center will house approximately 250 employees and some may be hired from the Lexington area. Bingham has commited $22.5 million in establishing the center over a period of time. The investment will include building improvements, rent for 10 years and various start-up costs.
Mayor Jim Gray says that a lot of months of a lot of meetings resulted in the internatinal law firm choosing Lexington over other citites.
"Clearly it was worth pulling out all the stops. So we did, as did the Governor and state officials," Gray said. "We all want to give ourselves high fives, but at the end of the day, Lexington sells itself. Bingham McCutchen loved the same things about our city that we love...smart, friendly people who care about our great city, educational opportunities and livability."
The University of Kentucky also played a part in putting together an incentives package for the firm.
"As we all are, the Governor and Mayor are focused on economic development and growth for the region and the Commonwealth," UK President Eli Capilouto says.
Bingham's COO L. Tracee Whitley says that strategic and economic fundamentals of the project were carefully reviewed.
"The Commonwealth of Kentucky and the City of Lexington joined foreces to offer us the most competitive incentives package of the metropolitan areas we considered," Whitley said. "Based on our experience with local and state officials, as well as business and academic leaders there, we are confident that Lexington will be a great fit for Bingham."
The transition of Bingham's administrative functions to its new center in Lexington is anticipated to begin in April 2013 and will continue for approximately one year.
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