Investing $1.67 million in project
FRANKFORT, Ky. (Jan. 26, 2017) — Credit Bureau Systems Inc. (CBS), a family owned Kentucky company, will build a $1.67 million office in Paducah and hire 40 additional full-time employees and relocate 10 from out of state.
CBS plans to construct a 10,000 square-foot commercial office building designed to accommodate future expansion adjacent to its current Paducah facilities. Company executives expect to open it by September.
CBS is a third-generation, family owned business founded in Paducah in 1952. The company began as a local credit-reporting agency and grew into a full-service healthcare revenue cycle company employing 385 people full-time. Its services include hospital patient billing, healthcare insurance claims processing and cleanup as well as physician, ambulance and EMS billing. The company operates six divisions that provide services to hospitals, physicians and other medical providers in 24 states. CBS has call centers in Paducah, Owensboro, Lexington, Hazard and Clarksville, Tenn.
To encourage the investment and job growth in the community, KEDFA in January preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, Credit Bureau Systems 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. In fiscal 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.