Home » State Awards $1M to Fund High-Tech Expansions

State Awards $1M to Fund High-Tech Expansions

By wmadministrator

More than $1 million in funding from the Kentucky Economic Development Finance Authority will enable three central Kentucky companies to expand, creating a combined 63 full-time, high-tech jobs in the region.

Projects receiving funding include Mersive Technologies, Inc. and Expungement Assistance Services Inc., both of Lexington, and Corevalus Systems LLC of Georgetown.

Mersive Technologies develops software technology to enable the creation, management and use of Ultra Definition™ displays. (Ultra Definition™ is a brand developed by Mersive that describes any display with a resolution greater than high definition.)  Mersive anticipates adding 15 positions to its current full-time workforce of eight, with average annual salaries of approximately $82,000, exclusive of benefits.

Expungement Assistance Services Inc., a leading provider of criminal records clearing assistance services, is developing a Web-based business automation solution to help clients complete the forms needed for records expungement, clemency and pardon. EAS anticipates that in addition to the company’s existing workforce of 33 full-time jobs, it will create a minimum of 30 high-tech and technical support jobs paying an average annual salary of approximately $70,500, exclusive of benefits.

Corevalus Systems has developed and is marketing a product named SamePage that utilizes a network of computer displays to manage and display music. Corevalus expects to add 18 full-time positions to its existing base of seven employees. The jobs will pay an average annual salary of $66,000, exclusive of benefits.