$3.7 million investment
LOUISVILLE, Ky. (April 27, 2017) — Interapt LLC, a tech development startup focusing on business innovation services and workforce development, will establish a new Louisville headquarters with a nearly $3.7 million investment that will create 250 full-time jobs.
Interapt will renovate a 22,000-square-foot manufacturing and warehousing facility at 1226 Rowan Street in the city’s Portland neighborhood, near downtown. The new headquarters will include dedicated space for community-focused workforce development and technology training programs.
Interapt develops mobile, web and high-tech wearable applications that help businesses improve their processes, communication and bottom lines. Customers include Baptist Healthcare, Eurofins, Humana, Kindred Healthcare, YUM! Brands, General Electric and many others.
In 2016, Interapt collaborated with multiple for- and nonprofit organizations to develop a technology workforce training initiative. That initiative includes TechHire Eastern Kentucky (TEKY), which has successfully retrained under-employed individuals in the Appalachia region.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved the company for tax incentives up to $2 million 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.
Additionally, KEDFA approved Interapt for up to $75,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
Interapt also 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 year 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.