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Economic development incentives approved for two companies considering job growth in Louisville

Projects could create 40 new jobs

LOUISVILLE, Ky. (Oct. 25, 2012) — Two companies considering Louisville for expansion were given approval for economic development incentives at today’s meeting of the Kentucky Economic Development Finance Authority (KEDFA) in Frankfort. These projects could create 40 new jobs, $3.3 million in new annual payroll and $1.4 million in new investment.

“We are excited about the future of both of these companies, and are thankful they are interested in Louisville,” said Mayor Greg Fischer. “Both of these companies show the importance of the efforts we are making in attracting and retaining more technologically advanced and entrepreneurial types of thinking.”

The companies are:

— Imperium Health Management, LLC — Imperium Health Management is one of the first fully comprehensive accountable health care enablement companies, integrating all required technology, human resources, managed care practices, evidence-based medical protocols, data analytics and reporting. Imperium was formed to enable Accountable Care Organizations to take advantage of the Medicare Shared Savings Program.  Imperium is currently in the process of setting up operations and is building the corporate infrastructure to service all locations.

Within the first two years of operation, the company has estimated a total investment of $1.4 million in building materials and capital equipment. They plan to create 40 jobs, with a total payroll of $3.3 million by 3Q2014.

Imperium Health Management, LLC was preliminarily approved for up to $500,000 in Kentucky Business Investment (KBI) economic development incentives over a 10-year term.

— Indatus Cloud-based Solutions — Indatus transforms raw data into tools to help businesses run more efficiently. Each solution is online, negating installation, allowing upgrades to occur automatically, and accessibility from any computer with an Internet connection. Indatus’ cloud-based services include an answering service, call tracking and analytics solution, and mass notification system. Data equipment and services include data management, phone systems, security and surveillance, and data and network calling.

Indatus, formerly Planet Telecom, was approved for Kentucky Jobs Development Act (KJDA) in 2009.  However, the company’s plans to relocate its 70 employees into the historic building on 118 East Main Street were stalled by a downturn in the commercial real estate market that effected their financing options. The company recently was the recipient of Metco Financing from Louisville Metro Government and a revolving loan pool from Louisville’s Downtown Development Corporation. Today’s announcement is the third in a series of financing mechanisms for the company.

Indatus was approved for $1 million from the Collateral Support Program, an arm of the Kentucky Small Business Credit Initiative.

“We are excited and appreciative of the Kentucky Cabinet of Economic Development’s support,” said David Dirk, CEO of Indatus. “The Collateral Support Program offers a critical piece to the financing puzzle that brings us one step closer to the needed renovation of this historic building and bringing high-tech jobs to downtown Louisville.  We hope to be able to make a decision on the project in the near future.”