Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

LDG Multifamily Plans Louisville, Kentucky, Headquarters

09/02/2021
Affordable-housing developer LDG Multifamily will expand its operations with an up to $10.75 million investment to purchase and renovate a new headquarters in Louisville, Kentucky. The project is expected to create 50 high-wage jobs.

LDG is currently working to secure a space within Jefferson County after outgrowing its existing headquarters on South 4th Street in Old Louisville. The larger space will house its existing staff while accommodating additional employees over the next 10 years.

“Our decision to keep our headquarters in Louisville and expand our local workforce reflects our long-term goal of remaining a Louisville-based organization and our belief that leaders in this community are committed to developing innovative solutions to address the need for more affordable housing,” said Mark Lechner, co-founder and co-principal of LDG. “LDG Multifamily was founded in Louisville, and we are proud of our strong roots within this community. We appreciate the support Governor Beshear, Mayor Fischer and the Commonwealth of Kentucky have provided and look forward to expanding our presence in our hometown.”

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) 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 million in tax incentives based on the company’s investment of $10.75 million and annual targets of creation and maintenance of 50 Kentucky-resident, full-time jobs across 10 years.

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.

“This relocation and expansion in Louisville by LDG Multifamily will create dozens of well-paying jobs for Kentucky residents, and I want to thank the company for this commitment to our state,” Governor Andy Beshear said. “LDG is doing great work providing affordable-housing opportunities for those who need it, while also creating quality jobs. Congratulations to the company and the Louisville community on this project.”

In addition, LDG can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.

Share

Exclusive Research