Healthcare Asset Network Expands Operations in Jefferson County, Kentucky
According to state officials, the company plans to double the company's employment by the end of 2021 at HANDLE's Norton Commons headquarters. The company was awarded the Deployment of Equipment Recertification, and Management of Surge Capacity contract from the Veterans Health Administration, to support the identification, recertification and rebalance of critical care items within the VA surplus equipment fleet.
In addition to its supply chain analytics platform, HANDLE sells capital medical equipment, including comprehensive personal protective equipment. Complementing the company's capital equipment and PPE capabilities, its strategic stockpile program protects health care facilities from price volatility and provides instant access to critical equipment and PPE when it is needed the most. The stockpile program is strengthened by its existing 30,000-square-foot warehouse in Louisville. HANDLE is currently finalizing plans to lease additional warehouse space in Jefferson County within the next month.
"HANDLE is proud to be a part of such a strong health care state," said Kyle Green, CEO at HANDLE. "We look forward to continuing our success alongside other great Kentucky companies over the next decade and beyond. HANDLE will be looking to forge a stronger healthcare supply chain in our state and our country by bringing order to chaos."
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.4 million in tax incentives based on the company's investment of $7.8 million and annual targets of creation, maintenance of 80 full-time jobs across 10 years; and paying an average hourly wage of $49 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.In addition, HANDLE Global can receive resources from the Kentucky Skills Network.
"I've said many times in the fight against COVID-19, we are in this together, and few companies embody that spirit of togetherness like HANDLE Global," Governor Andy Beshear said. "This Kentucky-based company is doing its part to combat the virus by working closely with health care providers and other organizations to meet drastically rising demand for supply chain analytics. In addition, its new expansion will provide new jobs, high wages and help HANDLE Global continue to lead by example during a challenging time."
As an example of a tech startup founded and scaled in Kentucky, HANDLE received assistance in its first years through KY Innovation - the commonwealth's office for entrepreneurial and small business support. As well, it applied for and received investments from the Kentucky Enterprise Fund, managed by the Kentucky Science and Technology Corp., and also Commonwealth Seed Capital. HANDLE's growth plans announced today demonstrate the benefits of early investments in scalable startups.
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