FRANKFORT, Ky. — ARGI Financial Group LLC announced it will create 245 quality job opportunities in the years ahead with a $2.7 million investment.
With this investment, ARGI will grow its existing 54,000-square-foot location at High Wickham Place by 10,000 square feet. The expanded headquarters will create new management and back-office support opportunities in the coming years, in addition to its current staff of 152.
Company leaders expect work on the expansion to be completed by 2023. Currently, ARGI operates five locations in Kentucky, including offices in Bardstown, Bowling Green, Elizabethtown, and Paducah, which employ 57 people.
“We are honored and grateful the commonwealth supports our efforts in strengthening ARGI’s service to the people of Kentucky,” said Joe Reeves, CEO of ARGI. “Our firm was built on the foundation of serving others, with the primary focus being our clients, our employees, and our community. These funds will help us to further live our mission of improving lives with every relationship, and that starts with our people in Kentucky.”
Established in Louisville in 1995, ARGI provides financial and business services for companies and individuals, such as financial planning and accounting, estate planning, retirement planning, tax services, and investment management, among others, through the firm’s various affiliates. In addition to its Kentucky locations, ARGI operates in Georgia, Indiana, Michigan and Ohio.
This year, the commonwealth has shattered every economic development record in the books for yearly investment totals. Year-to-date, private-sector new-location and expansion announcements include over $10 billion in total planned investment and commitments to create 14,000 full-time jobs across the coming years. Through September, Kentucky’s average incentivized hourly wage is $24.15 before benefits, a 10% increase over the previous year.
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 $1.8 million in tax incentives based on the company’s investment of $2.7 million and annual targets of:
- Creation and maintenance of 245 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $46.80 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, ARGI can receive resources from Kentucky’s workforce service providers. These include no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
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