Provalus Establishes Monticello, Kentucky, Operations
The 30,000-square-foot leased facility will allow the company to serve clients in various domains, including cybersecurity, network operations, quality assurance, security, application development and back-office operations. Construction for building upgrades is scheduled for completion in December 2024.
“We are pleased to announce the first phase of our partnership with the State of Kentucky. Choosing a location for a new Provalus site is about far more than just job creation. It’s also about choosing a community to add to the Provalus family,” said Will Ruzic, Optomi’s vice president of facilities and operations. “Provalus is committed to expanding opportunities in rural America by growing, developing and investing in not only our people but the communities we call home. This launch means that Monticello will forever be a part of the Provalus story, and we trust that Provalus will play a significant role in shaping Monticello’s story moving forward.”
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program on Thursday. The performance-based agreement can provide up to $2 million in tax incentives based on the company’s investment of $3 million and annual targets of creation and maintenance of 200 Kentucky-resident, full-time jobs across 15 years; and paying an average hourly wage of $27, 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.
“The economic momentum we are seeing across the state is the result of companies believing in what Kentucky has to offer,” noted Governor Andy Beshear.
In addition, Optomi can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives. “The Monticello Wayne County Industrial Authority is excited about the opportunities that Provalus will provide to our area,” added Frank V. Phillips, chairman of the Monticello-Wayne County Industrial Authority. “Provalus is committed to providing competitive, sustaining jobs in rural America and this vision and goal will positively impact the citizens of Monticello and Wayne County for generations. Our board is committed to assisting Provalus, and we fully support and appreciate the Kentucky Cabinet for Economic Development for their assistance and support.”
Provalus is elevating communities by developing undiscovered talent in rural towns across the U.S. to deliver technology, business and support services.
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