Thursday, April 27 2017
High-tech company to invest $3.7 million
Frankfort, KY -- 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 and create 250 full-time jobs over the coming years, Gov. Matt Bevin and Louisville Mayor Greg Fischer announced.
“Interapt has dedicated itself to creating a pipeline of highly qualified software developers in Kentucky, and their work is catching the attention of a national tech industry,” said Gov. Bevin. “The tremendous work of founder and CEO Ankur Gopal, and his team, serves to further establish Kentucky as a premier location for high-tech businesses. With its new corporate office, Interapt will invest in both its own future and that of the commonwealth’s tech industry, and we are thankful for their continued commitment to Kentucky.”
For its new office, Interapt will renovate a 22,000 square-foot manufacturing and warehousing facility at 1226 Rowan St. 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.
Gopal, who founded Interapt in 2009, said he hopes the company’s growth inspires the next generation of Kentuckians to start their own entrepreneurial journey, and that other global technology companies take notice and consider Kentucky when expanding their businesses.
“This is an exciting milestone for Interapt. Our team has worked very hard to establish ourselves in the global technology industry and help create technology skills across the commonwealth. We are proud that our work is changing many people’s lives and creating new opportunities for people to embark on fruitful technology careers,” he said. “I appreciate Kentucky’s support and commitment to Interapt’s growth, and look forward to our team making continued impact throughout my home state."
Mayor Fischer welcomed Interapt’s growth and its implications for the city’s tech industry.
“Louisville is seeing growth like never before in our tech sector right now. Interapt’s expansion is confirmation that we have created an environment where entrepreneurs, innovators and makers can thrive,” he said. “I look forward to seeing the continued growth of our trained IT workforce and applaud the company on its move to the Portland neighborhood in west Louisville.”
Sen. Gerald Neal, of Louisville, said Interapt’s expansion will enhance the area’s tech scene.
“This new investment and recommitment to the community by Interapt will continue to grow Louisville’s vibrant tech industry,” he said. “Having high-achieving, home-grown companies like Interapt as partners in our city and state certainly will entice others to follow their lead. We look forward to continuing this prosperous partnership.”
Rep. Darryl Owens, of Louisville, welcomed Interapt’s investment and jobs to Louisville.
“Interapt has been a great corporate partner in Louisville for several years, and I am thrilled they have decided to establish a new headquarters in our community,” Rep. Owens said. “The 250 full-time jobs will be extremely beneficial to our city and help build the region into a hub for high-tech business.”
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 2016, the Kentucky Skills Network provided training for nearly 95,000 Kentuckians and 5,000 companies from a variety of industry sectors.
For more information on Interapt, visit www.interapt.com.
A detailed community profile for Jefferson County can be viewed at http://bit.ly/LouisvilleJeffersonCo.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” below...