Executives from El Toro Internet Marketing LLC officially opened the company’s new, larger headquarters in Louisville, a $2.1 million project creating space for 60 new jobs, this week.
“We are delighted to support El Toro’s continued presence and growth in Louisville,” said Gov. Bevin. “Kentucky offers many advantages for tech companies and El Toro is a great example of a company that has recognized and capitalized on those advantages.”
Demand for El Toro’s services from commercial customers in the automotive, health care and higher education space, and anticipated growth in political advertising campaigns fueled the company’s search for a larger office. El Toro, which opened on Louisville’s Distillery Commons district three years ago, renovated new office space at 124 N. 1st St. in the Whiskey Row neighborhood. The company currently employs 35 people.
It expects to add the new jobs over the coming four years.
“There’s a whole concept of density that we’re seeing emerge in the Louisville tech community,” said Stacy Griggs, El Toro president and CEO. “We need density and we’re willing to help build it. My colleagues and I believe it’s vital to build a robust community of technology companies – to meet people, make introductions, make connections and discuss ideas. Higher density of tech companies makes this easier, that is why we chose to move downtown.”
“Our employees love being downtown. The energy and after-work entertainment are simply fantastic for our staff,” added David Stadler, vice president of ad operations and co-founder of El Toro.
El Toro helps advertisers target their audiences digitally by matching IP addresses to physical locations. This allows advertisers to aim messages at specific groups, such as college campuses, businesses and zip codes. Though political advertising made up less than 10 percent of El Toro’s 2015 business, the company is seeing a significant increase this year as it continues to distinguish itself as an indispensable campaign-trail service.
Sen. Gerald Neal, of Louisville, said El Toro’s recommitment to Louisville and to Kentucky bodes well for the tech industry.
“The presence of El Toro, a tech company working on an international scale, brings additional vibrancy to Louisville,” he said. “I believe the company’s move to 1st Street and the new employees it will hire demonstrates the tech industry’s momentum here. As well, it shows Louisville offers the solutions, amenities and atmosphere to attract and grow high-tech firms.”
To encourage El Toro’s investment and job growth in Louisville, the Kentucky Economic Development Finance Authority in December preliminarily approved the company for tax incentives up to $1 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.
In addition, El Toro can receive resources from the Kentucky Skills Network. The Kentucky Skills Network provides eligible companies with no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on El Toro, visit www.eltoro.com.
Pride Industries to create 10 jobs with expansion in Union County
Pride Industries Inc., an architectural building products manufacturer and installer, will expand its Union County operation with a $150,000 investment that will create 10 full-time jobs.
“When a Kentucky based, family owned company decides to reinvest and diversify with new products, we will do everything in our power to ensure that growth occurs right here at home,” Bevin said. “The addition of Pride Industries’ new production line not only means new jobs for north western Kentucky, but establishes the company as a leading source for aluminum composite metal wall panels which are increasingly in demand. We extend our congratulations to Pride and Union County on this expansion and look forward to many more years of continued growth in the future.”
Pride’s decision to expand comes in response to the rise in popularity of aluminum composite metal (ACM) wall panels. The company plans to buy new equipment to begin an ACM panel production line. ACM panels offer a well-insulated, affordable alternative to insulated sandwich panels often used on commercial buildings.
“With the purchase of the CNT Motion Systems Table Router System, we intend to diversify our established product line by entering into the aluminum composite metal ACM wall panel and architectural metal accessories markets,” said company CEO Bart Pride. “We will provide a single source for fabrication and installation services that the growing markets in the region require. By turning product lead times from weeks into days, we will be able to more efficiently deliver an installed product in a schedule-driven industry.”
Family-owned Pride Industries established in north western Kentucky in 1978 as a commercial insulation company specializing in sprayed cellulose insulation. In 1984, the company created Ultra Seam, which started as a marketing group and grew into a nationally recognized architectural metal roofing brand. Currently, two other Ultra Seam manufacturers, based in North Carolina and California, fabricate ACM panels.
Union County Judge-Executive Jody Jenkins expressed gratitude for the new jobs coming to the community.
“I am very pleased that Pride Industries has chosen to expand at its location here in Union County,” Jenkins said. “As a result, it will allow us to have more people from our area going to work. The addition of new jobs is always welcomed and exciting news.”
Donna Crooks, Kyndle interim president and vice president of economic development, said her organization takes pride in its role to help cater the new investment.
“It’s always an exciting time when an existing company expands and chooses to grow its business here. Pride Industries is a great example of that,” Crooks said. “Kyndle is proud to have had a hand in helping them with the expansion of their Union County operation resulting in capital investment and new job creation.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in May preliminarily approved the company for tax incentives up to $100,000 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, Pride can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Pride Industries, visit www.PrideIndustriesInc.com.
From Governor’s Office Communications