Twice recognized as one of the “100 Best Small Towns in America”, the City of Pikeville is led by a progressive Mayor, Board of Commissioners, and City Manager. During this global recession, the City of Pikeville has experienced growth and is seeking economic diversification with currently over $200 million in current projects underway and several more projects planned to start.
The City of Pikeville is the rapidly-growing, regional center for healthcare, financial industry, education, legal, retail, and entertainment. While the census data records Pikeville as a town of 6,909, the City is a service region to approximately 240,000 people. Major U.S. Highways 23, 119, 80, and 460 converge in Pikeville and approximately 38,000 vehicles traverse the intersection of U.S. Highways 23 and 119 each day. Located in the beautiful Appalachian Mountains of Eastern Kentucky, the City offers breath-taking views.
Pikeville has long served as the financial leader of the region and one of the strongest financial communities in the Commonwealth of Kentucky. Community Trust Bancorp, the largest state-based bank, has corporate offices in Pikeville. The bank employs approximately 1,200 individuals. Community Trust, US Bank, BB&T, Citizens National Bank, and others also serve the area.
The region’s largest employer is Pikeville Medical Center with a staff of approximately 2,000. Construction has started on an approximate $150 million expansion. The hospital recently entered into an agreement with Cleveland Clinic’s cardiac program, which will bring additional growth. The growth has garnered national attention as the National Hospital of the Year for two consecutive years. The hospital also has plans to develop a research component.
The University of Pikeville announced a record enrollment this fall of approximately 1,800, which was the highest percentage of increased enrollment by a university in the nation. By the spring of 2014, the enrollment goal is 2,500 students. In addition to undergraduate programs, the organization is home to the Kentucky School of Osteopathic Medicine and a MBA program. With plans to significantly expand the medical school, an approximate $26 million facility is under construction. The medical school will increase its enrolment of medical students by an additional 55 students this spring. The University of Pikeville is the one of the smallest institutions in the country to have a medical school.
The University of Pikeville recently announced a partnership with the University of Kentucky as a feeder school for the new Dental program. This program will begin with 15 new dental students in the first upcoming year. The Elizabeth Elliott Akers Nursing Program has announced expansions including a bachelor of science in nursing degree due to high demand. The school won the 2011 NAIA National Basketball Championship. Formerly Pikeville College, the organization changed to university status July 1, 2011. The President is Governor Paul Patton, who is known as the “Education Governor” for his accomplishments with education reform.
In additional to the University of Pikeville, the Big Sandy Community and Technical College has a Pikeville campus. The campus has experienced higher enrollment in recent years. The facility offers certifications and associate degrees.
Downtown is largely professional offices for attorneys and healthcare providers. Approximately 190 attorneys hold offices here. With Circuit and District Court located here, the legal offices are a natural fit. Pikeville is the judicial center for the region.
Under the City of Pikeville control, the 7,000-seat Eastern Kentucky Exposition Center is the region’s entertainment leader. This high-quality facility hosts leading shows, conferences, and other events. To further support the facility, a new $15 million hotel project is under construction. The hotel construction is also a result of business demand, as the weeknight occupancy is consistently over 90 percent. The City of Pikeville also just signed an agreement to construct a new indoor theater in downtown Pikeville. The long running, 47-year Jenny Wiley Theater is expanding services to downtown Pikeville creating year around entertainment. The City has an expansive offering of parks and recreational facilities for residents and visitors, and was recently named as one of 151 “Playful Cities USA” communities across the country. The City is also very progressive with many other attractions that will create tourism opportunity for the region.
There are many more examples of economic opportunity in the City of Pikeville. The City is currently working on a new retail center that we soon hope to announce as well. As noted earlier, this is a progressive small town with a high quality of living.
The City of Pikeville has a long history of taking action to successfully complete needed projects. The second largest earth-moving project in the Western Hemisphere is the Pikeville Cut-Through Project, which is surpassed only by the Panama Canal. This project provided many of the resources that have allowed the City to grow and prosper: developable land, reduced flooding, and a major U.S. highway.
The City of Pikeville is at a critical point in developing the future. The Marion Branch Development Project, which exceeds 1,000 acres, will provide much needed developable land for economic expansion, including commercial and industrial area. This development is comparable in size to the existing Downtown area.