World Trade Center Plans Move to Vine Center

The Kentucky World Trade Center is planning to move its operations from its current location in the Civic Center to a 16th-floor suite in the Vine Center, which Lexington Mayor Pam Miller has announced will be renamed the "World Trade Center."

The relocation of the Trade Center operations and renaming of Vine Center come as a result of a partnership agreement between the Kentucky World Trade Center and MCV Venture, LLC, owners of the Vine Center and Radisson Hotel complex.

The Webb Companies, the original developers of the Vine Center complex, are now part owners in MCV Venture, LLC, along with Capstar Hotel Corporation.

Although the Vine Center name "has almost historical significance in Lexington," said Dudley Webb, president of The Webb Companies, "we felt that it was time to get in lock-step with the fast-paced business globalization." The opportunity to form a partnership with the Kentucky World Trade Center seemed like a way to take a giant step in the right direction," he added.

The actual move, which is scheduled for June 1, gives the Trade Center "more visibility in the business community and really emphasizes the international trade component," said Holley Groshek, executive director of the Kentucky World Trade Center. Groshek recently assumed her position from Ken Current, who is forming his own business. Current was responsible for the initial feasibility study for the Trade Center and is credited with bringing the organization to its present level. The organization, which has offices in Lexington and Louisville, now boasts a membership of 325 and is affiliated with the World Trade Centers Association, an international organization of 320 World Trade Centers spread across 87 countries. World Trade Centers are designed to serve as a consolidating center for firms involved in international business.

Current stated that he was extremely pleased that after many years of hopes and dreams, the World Trade Center will now have a "physical as well as a business presence in Lexington." Current added that the mission of the World Trade Center would be "significantly enhanced as the new building evolves to a 'one-stop shopping mart' for international business."

Republic to Open Andover Branch

Louisville-based Republic Bank & Trust Company is expanding its presence in Fayette County with the addition of the bank's fourth Lexington location at Helmsdale Place in the Brighton Place Shoppes, just west of the Man O' War Boulevard/Todds Road intersection. The $1 million project will feature 4,600 square feet, which includes a community room that will be available to community groups free of charge. The Andover banking center is scheduled to be completed later this spring and will offer full-service banking six days a week: Monday-Thursday 9:00 - 4:00; Friday 9:00 - 5:00; and Saturday 9:00 - Noon.

Valvoline to Build New Product Lab

The Valvoline Company has broken ground for a $4.5 million facility to be built adjacent to its Lexington headquarters.

The new 28,100-square-foot facility, which is expected to be completed by the end of the year, will house Valvoline's new product development lab. The lab will include facilities for future engine fleet testing and a presentation center.

Valvoline's employees from tabs in Houston; Ashland, Kentucky; and the University of Kentucky will relocate to the new two-story lab, which will be headed by Dr. Fran Lockwood, vice president of technology and product development for Valvoline.

Lockwood noted that having the entire U.S.-based research team under one roof should allow for increased collaboration and interaction that will lead to increased efficiency.

Interaction between the technical and marketing staff should increase as well, said Valvoline President James O'Brien, resulting in earlier release dates of new technology. As a result, added O'Brien, new technology is likely to be introduced sooner.

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