Elovations Services Group will invest $13.7 million to locate its new E-commerce center in Boone County, Erlanger, Kentucky, creating nearly 700 full-time jobs.
The company will lease a 150,000-square-foot facility in Boone County to serve as its parcel grading and processing center for e-commerce. The facility, which will be located a few miles east of Cincinnati-Northern Kentucky International Airport, will receive parcels sold to international buyers, validate, repackage and manage the required customs processing.
"Elovations Services Group is an outstanding addition to the Northern Kentucky business community, one that will provide a tremendous economic boost to the region," Gov. Steve Beshear said. "Kentucky has demonstrated time and time again that it is a logistical paradise for companies that need to get products into the stream of commerce quickly and efficiently. The Commonwealth is proud to partner with Elovations to make this e-commerce operation, and the nearly 700 jobs that will be created, possible."
Erlanger, Kentucky's location near the intersection of three major interstate highways, I-71, 75 and 275, did not go unnoticed by company officials. "The opportunity to leverage Northern Kentucky's availability of modernized facilities and proximity to key shipping corridors were very helpful in the decision to locate here," said Arthur Maxwell, founder and chairman of Elovations Services Group. "We are excited about this opportunity."
As an incentive to encourage the investment and job creation in Northern Kentucky, the Kentucky Economic Development Finance Authority approved Elovations Services Group for tax incentives up to $7 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
"Northern Kentucky continues to serve as a strong economic base not only for our region but the Commonwealth as well," said Rep. Addia Wuchner, of Florence. "It's because of our great economic climate and outstanding workforce that we continue to draw new business to the area, and I'm pleased that Elovations Services Group has decided to call Boone County home."