Innovative Mattress Solutions Opens Headquarters In Lexington, Kentucky
IMS plans to occupy increased office and warehouse distribution space on Jaggie Fox Way, formerly the headquarters for Tempur-Pedic prior to the establishment of Tempur Sealy International Inc. The company needs the larger distribution facility for its Lexington operation since sales growth exceeded the capacity of its current home.
The move to the new distribution warehouse will double the company’s existing Lexington distribution center capacity. The 52 jobs created with this project include operations, financing, information technology, marketing, human resources and sales.
“It’s exciting to bring my company’s headquarters to my home state of Kentucky,” said CEO Kimberly Brown Knopf. “Lexington’s advantageous proximity to our region and its location to our strategic partner, Tempur Sealy International Inc., make it an ideal location for us. Our connection with my alma mater provides us with opportunities for internships and recruitment. We are grateful for the assistance and support we have received from the state, city and Commerce Lexington.”
“We are so excited that Innovative Mattress Solutions has ‘bounced’ into Lexington with its new headquarters, new jobs for our community and an economic investment that will impact our region for many years,” said Bob Quick, President/CEO of Commerce Lexington Inc. “Congratulations to UK alumna Kim Knopf, who is bringing her company back home to the Bluegrass. Our economic development staff is proud to have worked with IMS since 2010, as we explored the opportunity to place its headquarters here. Both UK alumni and headquarter operations are points of emphasis set forth in our economic development strategic plan.”
“This is a momentous occasion for Innovative Mattress Solutions and Lexington,” said Governor Steve Beshear. “I’m excited the company is expanding its successful Kentucky operation and establishing its headquarters here. I’m proud to welcome home a fellow University of Kentucky alumna who has gone on to enjoy great success as an entrepreneur.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $750,000 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. In addition, Innovative Mattress Solutions is eligible to receive resources from the Kentucky Skills Network.
Innovative Mattress Solutions also has received preliminary approval from the City of Lexington for a $250,000 Jobs Fund loan. The Jobs Fund was established to promote high-quality job creation with a focus on relocating primary base operations to Lexington.
Why are Foreign Trade Zones Making a Comeback?
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Infrastructure Investment as an Economic Stimulus Tool
Nondisclosure Agreements Best Practices When Negotiating Incentives
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row