Xact Communications, a telecommunications firm, will invest $1.57 million on establishing its U.S. and international headquarters in Lexington, Kentucky.
"Kentucky is proud to welcome the headquarters of Xact Communications and the 20 new jobs it represents for Lexington," Gov. Steve Beshear said. "We look forward to Xact's future success, and we're glad the Commonwealth could play a role in the growth of a new corporate citizen."
The company's goal is to become a premier provider of telecommunications services for businesses, offering a new choice in cloud-based phone and internet service. "We are excited to locate our new headquarters in Lexington," said Dale Cooper, president and chief sales officer for Xact Communications. "Xact Communications is pleased with the level of support we have received from many entities in the Lexington region, including Commerce Lexington, the Innovation and Commercialization Center, the city of Lexington and the Cabinet for Economic Development. With this tremendous support we know our business will flourish."
As an incentive to encourage the headquarters location and job growth in Lexington, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 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.
"We have been working hard to bring corporate headquarters to Lexington because headquarters bring strong leaders and problem solvers who can help us build a pro-business, progressive city; a Great American City," said Lexington Mayor Jim Gray. "Headquarters support and strengthen our efforts to grow good-paying jobs."
"The Bluegrass Business Development Partnership is excited that Xact Communications has chosen Lexington for their new telecommunications headquarters," said Bob Quick, president and CEO of Commerce Lexington Inc. "Xact could have located their business anywhere, but because of our highly educated workforce and low cost of doing business, Lexington was the best choice for their company. Welcome to Lexington!"