LOUISVILLE, Ky. — More than 35 businesses opened in downtown Louisville last year, according to new progress report from the Louisville Downtown Partnership (LDP).
LDP said the new street-level merchants, business relocations, and the strong pipeline of projects in 2023 are a testament to the "optimism and confidence" in downtown.
Here's a breakdown of some statistics from LDP:
- 38 new businesses opened in downtown with 22 announced to open in 2024.
- 10 projects were officially completed in 2023, with an investment of $202 million.
- More than 60 projects are either underway or announced, representing an investment of more than $1.5 billion in downtown Louisville.
- Four companies expanded their footprint in downtown with an investment of $3.5 million and the creation of 835 jobs.
- Six companies relocated to the downtown area with an investment of $149.5 million and the creation of 580 jobs.
- Notable projects underway include the Waterfront Park Phase IV, Canopy by Hilton, The Prestonian, and the Tempo by Hilton.
- The Downtown Louisville Ambassador Program doubled from 18 to 36, expanding hospitality, safety, and outreach services.
- The first Small Business Loan originated by the Downtown Commercial Loan Fund went to The Hereafter LLC for The Misfit restaurant on S. 7th Street.
- 15% drop in burglaries from 2022, a four-year low. Crime in downtown constitutes 4.5% of all crime in Louisville.
For the new year, LDP said they plan to deliver enhanced programming and events, create new placemaking, improve the downtown user experience, advocate for policy changes and incentives that spur new development, and release its 2023 Downtown Strategy, which is a 10-year guide for developments of projects and infrastructure in downtown.
The Louisville Downtown Management District (LDMD) is one of the two main entities within LDP, and it promotes the economic, residential, and cultural vitality of downtown.
LDMD meetings are open to the public if you'd like to attend one. Here is the schedule.
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