Ashland Inc., a specialty chemical solutions and parent company of Valvoline, a premier consumer-branded lubricant supplier, plans to invest an estimated $35 million to expand its campus in Lexington, Kentucky.
The new building will house employees from Valvoline, which has been based in Lexington for more than 30 years, as well as other Ashland employees currently based on the Lexington campus who are working in a variety of supporting resource group functions. The building will be constructed on the company’s existing campus on Palumbo Drive, where it currently leases space in two office buildings that were developed for Ashland in the early 1980s.
“This campus has been home to Valvoline for more than three decades, and we’re delighted to renew our commitment to Lexington through this exciting development,” said Sam Mitchell, Ashland Senior Vice President and Valvoline President. “We are grateful for the tremendous support shown by the Lexington-Fayette Urban County Government, Commerce Lexington and the Commonwealth of Kentucky, as well as by the entire local community.”
“Having Ashland make this renewed commitment to Lexington and Kentucky is a proud moment for the Commonwealth,” said Governor Steve Beshear. “The Valvoline brand is a mark of excellence, and we celebrate with them their investment in their new facility.”
“It’s great to have a globally recognized corporate citizen like Ashland here in our community. It’s one way we tell the world that Lexington is a great place to do business,” Mayor Gray said. “Since 2011, Lexington’s unemployment rate has been cut by more than half. Companies are moving here and growing here. Lexington is competing and winning with a high quality of life, outstanding educational opportunities and state and unique local incentives. We work to attract jobs every day.”
The Kentucky Cabinet for Economic Development and the Lexington-Fayette Urban County Government have been working with the company on this project since its inception and will continue to do so as it moves forward.