Projects would create 169 new jobs
FRANKFORT, Ky. (Jan. 26, 2012) — Five Louisville-area companies were approved for economic development incentives at this morning’s meeting of the Kentucky Economic Development Finance Authority (KEDFA) in Frankfort, Ky. The projects would create 169 new jobs, $9.6 million in new annual payroll and $4.4 million in new investment.
“It is exciting to see more and more companies considering Louisville as their new homes as well as decide to stay in Louisville,” said Mayor Greg Fischer. “These new jobs and investments demonstrate that our city has a high quality of life and great business environment, and would be a welcome boost to our community’s economy. It is exciting to see an increasing move towards innovative thinking that is leading to new and efficient processes, which is a win-win for the businesses and their customers.”
The companies must make and sustain agreed upon levels of investment and job creation to receive the incentives, which in many cases are in the form of decreases in future tax payments.
Appriss, Inc. is a Louisville-based provider of information services that helps thousands of local, state, and federal government agencies keep citizens safe and informed. The company’s products include VINE, the nation’s first, and most widely-used, system of automated victim notification, JusticeXchange, the nation’s largest real-time data network of incarcerated persons, and NPLEx, which is used by over 25,000 US pharmacies and thousands of law enforcement investigators to track the purchase of over-the-counter medicine containing pseudoephedrine. Appriss hopes to expand its Kentucky headquarters to accommodate the anticipated growth beginning in 2012 as the company develops new products and services. This growth would require additional office space and equipment, in addition to technical support and software engineering professionals.
Within the first two years of operation, the company has estimated a total investment of $1.7 million in building materials and capital equipment. They plan to add 38 jobs with a total payroll of $2.2 million by 1Q2014.
Appriss Inc. was approved for up to $700,000 in KBI* incentives and $90,000 in KEIA incentives for up to 10 years.
Jefferson National Financial
Jefferson National Financial Corp. is a leading innovator of products and services for registered investment advisors (RIAs) and other fee-based advisors, utilizing a flexible technology platform, highly efficient operations, a centralized sales desk of highly-trained personnel and an award-winning direct marketing approach centered on a powerful website. With a national network of more than 1,600 advisors, Jefferson National is widely recognized for launching Monument Advisor, the industry’s first flat-insurance fee variable annuity. Jefferson National is winner of more than 30 industry awards including the DMA 2010 Financial Services Company of the Year.
Jefferson National now plans to expand its Kentucky headquarters to accommodate anticipated growth beginning in 2012. This growth would require additional office space and equipment, as well as sales, marketing and technical support and software engineering professionals. Within the first two years of operation, the company has estimated a total investment of $900,000 in building materials and equipment. They plan to create 70 jobs with a total payroll of $5.3 million by 4Q2013.
“We are delighted to be granted these incentives from the Kentucky Economic Development Finance Authority. Over the next five years, we plan to significantly increase our workforce here in Louisville as we expand our successful financial services business,” said Mitchell H. Caplan, CEO of Jefferson National. “We just completed a large capital transaction and are extremely excited about making Louisville our home as we continue to become one of the preeminent players serving fee-based financial advisors, the fastest growing distribution channel in financial services.”
Jefferson National Financial Corporation was approved for up to $2 million in KBI* incentives for up to 10 years.
National Fastpitch Coaches Association
The National Fastpitch Coaches Association (NFCA) is the professional growth organization for fastpitch softball coaches for all competitive levels of play. The non-profit association was founded in the early 1980’s by collegiate softball coaches. Today, the organization also includes high school coaches, travel ball/club coaches, and interested individuals, with numbers totaling about 4,500 nationwide and 40 internationally.
The NFCA currently employees a staff of eight, full-time employees (located in Mississippi, Texas and New Hampshire), who administers and oversees the organization’s activities. The organization would like to consolidate its employees in one location and they are considering Louisville for this move.
Within the first three years of operation, the association has estimated a total investment of $525,000 in building materials and capital equipment. They plan to add 10 jobs with a total payroll of $540,080 by 1Q2015.
“We’re very excited that the Kentucky Economic Development Finance Authority has approved an incentive program for our Association,” said Lacy Lee Baker, Executive Director of the National Fastpitch Coaches Association. “We’re strongly considering Louisville as our new home, and this incentive package will be instrumental in our decision-making process.”
National Fastpitch Coaches Association was approved for up to $240,000 in KBI* incentives for up to 10 years.
Norgren, Inc. is a leading supplier of pneumatic motion and fluid control technology, as well as a provider of engineering advantage solution. Norgren’s strengths lie in applications within the commercial vehicle, rail, automotive, automation, food production, packaging, printing, life sciences, energy & environment, and water management sectors.
Norgren currently works with a third-party logistics provider in Laredo, Texas, but they are considering in-sourcing, and moving this operation to a more strategic location that will improve serviceability to their US customer base. They have considered several locations throughout the Midwest, but have narrowed the list to Louisville, Chicago, Memphis, and Indianapolis.
Within the first two years of operation, the company has estimated a total investment of $350,000 in building materials and capital equipment and plan to add 15 jobs, with a total payroll of $479,856 by 1Q2013.
Norgren Inc. was approved for up to $225,000 in KBI* incentives for up to 10 years.
Southern Water Treatment Services Co., Inc.
Southern Water Treatment has developed proprietary technologies for cleaning hard deposits from metal surfaces. The company’s refurbishing and cleaning operation serves heat exchangers, cooling towers and concrete forms, faster and better than any methods currently on the market. Southern will need to hire regulatory personnel, master plumbers, hydro pressure engineers, as well as, chemical and mechanical personnel to ramp up their processing capacity.
Within the first three years of operation, the company has estimated a total investment of $950,000 in building materials and capital equipment. They plan to add 36 jobs with a total payroll of $1.1 million by 1Q2015.
Southern Water Treatment Services Co., Inc. was approved for up to $450,000 in KBI* incentives for up to 10 years.
The partnership between Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and the state government brings new economic opportunities to the community. Through December 2011, the innovative public-private partnership has helped 72 companies locate new operations or expand existing ones in the area. These projects have created 4,784 new jobs at an average salary of $42,561 and more than $790 million in new capital investment.
*Kentucky Business Incentives consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses. This change was made in legislation passed during the 2009 Special Session of the Kentucky General Assembly. More information can be obtained at www.thinkkentucky.com.