LOUISVILLE, Ky. — LDG Multifamily will expand its Louisville operations with an up to $10.75 million investment to purchase and renovate a new headquarters, creating 50 high-wage jobs for Kentucky residents.
LDG is currently working to secure a new headquarters space within Jefferson County after outgrowing its existing headquarters on South 4th Street in Old Louisville.
The larger space will house its existing staff and accommodate 50 additional employees over the next 10 years that consist mostly of professional and support roles critical to helping the company expand its operations. The average salary for these positions is $85,000. LDG leadership expects to move into its new headquarters by June 2022.
Lechner and Chris Dischinger founded LDG in 1994, based on their shared belief that everyone deserves a quality place to live, and have grown the company into a leading developer of affordable housing nationally.
The company has created nearly 20,000 units of high-quality affordable housing for working families and active seniors in seven states, including almost 4,000 units in Kentucky. The work of LDG is supported by more than 150 employees in Louisville, Austin, Nashville, and Atlanta.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1 million in tax incentives based on the company’s investment of $10.75 million and annual targets of:
- Creation and maintenance of 50 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $49 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, LDG can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training, and job training incentives.
For more information on LDG Multifamily, visit LDGDevelopment.com.
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