Well the south side of the city is definitely the nicer side, I live in the Tates Creek Area, and I like it a lot, very nice area, some of the best restaurants in Lexington are here also. The southwest area around Beaumont looks more like the newer suburbs of Dallas or Houston, like Coppell or Cinco Ranch from what I've seen.
I don't have an incredibly good feel for the city yet as I've only lived here since August, and I basically live in the law library, but it seems fairly conservative, but with a definite progressive presence.
As far as major industries, I know the horse industry is huge, the horse farms around the city are absolutely gorgeous. Lexmark is based here, or at least it used to be as my dad worked for them when I was born here 24 years ago. The biggest buildings downtown are banks, there are a LOT of hospitals for a city this size, and the Bourbon Trail starts just to the west. I'm sorry I'm not much help on the major industries, perhaps one of the other Lexington based TexAg-ers can step in with some more info in this area.
That said I may be relatively new to the city in which I was born, but I gotta say I love it here. The people are so friendly it's hard to believe, the pace of life is slower than Texas, every season is beautiful, the winters are fairly mild, summers are in the 85-90 range with a cool breeze, there's great hiking trails within a short drive in almost any direction, the closest I've found being Ravens Run to the south, only about 30 minutes from where I live. There are a lot of great local restaurants, and it seems like there is enough to do to keep occupied. Also it seems like everyone here knows each other, it has that small town kind of charm, with the amenities of a medium sized city.
Also UK a beautiful campus (especially compared to our beloved A&M, was it Gates who compared it to a soviet tractor factory?) and they go NUTS over basketball here, while being relatively apathetic about football, it's weird but not impossible to adjust to.
Good luck on the job job, if you have any other questions I'll help if I can. Keep me posted.