Two projects approved for incentives
Projects would create 173 jobs
Two companies approved for incentives at this morning’s Kentucky Economic Development Finance Authority Meeting in Frankfort are considering investing $5.9 million in two expansion projects that would create 173 new jobs and nearly $8 million in new annual payroll.
“These companies will create new jobs at the time when we need them most,” Mayor Jerry Abramson said. “The incentives approved today will help ensure that the jobs are created in Louisville, rather than in other cities.”
Neustar, Inc.
Founded in 1996 to meet the new technical and operational challenges of the communications industry when the U.S. government mandated local number portability, Neustar has evolved as a provider of customer-responsive technologies that deliver a broad range of essential clearinghouse capabilities for telecommunications providers. Today, the company is an essential component of the operations of service providers globally. Neustar’s services enable customers to manage critical activities such as record exchanges, subscriber growth, network optimization, content management and inter-network call origination and termination.
Neustar is considering investing $3.7 million to open a facility in Louisville, which would create 150 new jobs and new annual payroll of $7.2 million.
Neustar was approved for $2.57 million in KBI* incentives for up to 10 years.
Print Fulfillment Services, Inc.
Founded in 2005 as a subsidiary of Farheap Solutions, the now independent Print Fulfillment Services (PFS) is a full-service trade printer providing high-quality, full-color printing services. It has become one of the largest printers in the United States offering next day delivery of promotional, marketing and branding products, mailing services and custom, user-designed printed promotional materials.
PFS is considering an expansion project to grow their capacity and fulfill additional sales and support for new products being developed by other Farheap companies. The project would expand the company’s existing facility at 2929 Magazine Street and add new production equipment at an investment of nearly $2.2 million. The expansion would create 23 new jobs and new annual payroll of $863,000.
Print Fulfillment Services was approved for $380,000 in KBI* incentives for up to 10 years.
“We were initially advised to investigate Kentucky as a potential relocation site of our printing and manufacturing operation by one of our primary partners, UPS, due to the shipping intensive nature of our business,” said Michael Glibreath, Director of Corporate Human Resources for PFS. “Our success and growth have resulted from both the benefits of proximity to UPS, and from the opportunities that choosing Louisville has given us.”
Gilbreath continued, “the business-friendly climate, and the ability to grow an outstanding workforce have proven Louisville Kentucky to be an excellent choice for both our initial relocation, as well as the projected expansion these incentives facilitate.”
The partnership between Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community. Through August 2009, the innovative public-private partnership has helped 37 companies locate new operations or expand existing ones in the area. These projects have created 1,714 new jobs at an average salary of $40,017 and more than $251 million in new capital investment.
* Kentucky Business Incentives consolidates KIDA, KREDA, KJDA & KEOZ into a single, more flexible tax incentive program for new and expanding businesses. This change was made in legislation passed during the 2009 Special Session of the Kentucky General Assembly. More information can be obtained at www.thinkkentucky.com.
Company Contact
Neustar, Inc.
Marc Abshire
(571) 434-5151
Print Fulfillment Services, Inc.
Michael Gilbreath
(562) 243-4069
Carmen Hickerson
Vice President, Public Affairs and Communications
Greater Louisville Inc. – The Metro Chamber of Commerce
614 West Main Street, Suite 6000 Louisville, KY 40202
Phone: 502.625.0204 Fax: 502.625.0010
chickerson@GreaterLouisville.com
http://www.GreaterLouisville.com
