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Area Development - Site Selection, Facility Planning and Workforce Development

HealthTrackRx Plans Louisville, Kentucky, Research Operations

11/06/2024
HealthTrackRx, a provider of infectious disease laboratory services, plans to establish operations in Louisville, Kentucky. The $45.5 million project is expected to create 230 jobs.

The new research facility, located at 2425 Universal Way at Muhammed Ali International Airport, will support the growth and demand in the molecular diagnostics space.

“Our decision to establish this new facility in Louisville is a key step in our mission to bring industry-leading next-morning diagnostics to more providers and patients,” said Martin Price, executive chairman and CEO of HealthTrackRx. “This location at Louisville Muhammed Ali International Airport on the UPS WorldPort campus allows us to serve more health care providers and patients nationwide with differentiated next-morning diagnostic results. We are excited to bring more highly skilled health care jobs to the metro area and continuing our broad investment to the community.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2.5 million in tax incentives based on the company’s investment of $45.5 million and annual targets of: creation and maintenance of 230 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $33.65, 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, HealthTrackRx can receive resources from Kentucky’s workforce service providers.

“Ensuring that Kentuckians from every corner of the state have access to quality health care services is critical to the commonwealth’s continued growth,” noted Governor Andy Beshear. “Innovative companies providing quality services and high-paying jobs, like HealthTrackRx, are choosing Kentucky to locate and grow their business. I want to thank the company’s leadership for believing in the commonwealth and the Louisville community, and I looking forward to their future success.”

HealthTrackRx is an infectious disease laboratory, delivering next-morning results against an industry standard of three to five days. The company provides diagnostic laboratory services to clinicians.

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