Business and the Economy
Tiffany & Co. Opens Lexington Factory
LEXINGTON – Gov. Steve Beshear and first lady Jane Beshear Tuesday joined Tiffany & Co. Chairman and CEO Michael J. Kowalski and Lexington Mayor Jim Gray to celebrate the grand opening of the company’s new jewelry manufacturing center in Lexington. Community leaders and guests were invited to breakfast at Tiffany to commence the opening, which is creating 125 jobs in the community.
“It is a great pleasure to welcome Tiffany & Co. and its good manufacturing jobs to Lexington,” Gray said in a press release from the governor's office. “Tiffany is known for Tiffany Blue. Lexington is known for blue grass and Wildcat blue. Tiffany is going to feel right at home!”
Tiffany broke ground for the new 25,000-square-foot jewelry manufacturing facility in November of last year. Located on four acres in the Blue Grass Business Park, the facility will produce a variety of the jeweler’s designs, which are sold in Tiffany stores around the world. The new manufacturing facility will manufacture many of Tiffany’s diamond engagement and other fine jewelry pieces.
“Opening our new manufacturing facility in Lexington is a special moment in the history of Tiffany & Co.,” Kowalski said. “We manufacture about 60 percent of our jewelry within the United States and we are proud to continue this tradition in Kentucky, where we have found the infrastructure and employees to meet Tiffany's standards of quality and craftsmanship.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Tiffany & Co. for tax incentives up to $2,450,000 through the Kentucky Business Investment program.