Cabinet for Economic Development
TWO KENTUCKY COMPANIES GRANTED FUNDING FROM CABINET’S HIGH-TECH INVESTMENT POOL
FRANKFORT, KY – The Kentucky Economic Development Finance Authority (KEDFA) today granted two Kentucky companies a combined total of up to $969,000 from the High-Tech Investment Pool administered by the Cabinet for Economic Development’s Department of Commercialization and Innovation.
The projects will create a combined 39 full-time, high-tech jobs. “The two companies that received funding approval by KEDFA today represent the type of advanced technologies that are providing Kentuckians with many quality, high-paying jobs,” said Economic Development Cabinet Secretary John Hindman. “Both of these businesses have excellent growth prospects and the state funds we’re investing today will be repaid many times over through state taxes paid by the employers and employees.”
Projects receiving funding include:
- 3DR Laboratories, LLC– Louisville; Founded in 2004, 3DR Laboratories is a radiology information technology service company that provides diagnostic imaging facilities with the ability to outsource their 3D image processing. Specialized techniques and computer software are required to generate a 3D image of a patient’s anatomy based on the individual image “slices” from CT scans and MRIs. 3DR’s service is similar to the way hospitals and physician offices currently outsource the analysis of patient blood samples to clinical reference labs. The 3DR services do not include image interpretation or diagnosis.
The funds, awarded in the amount of up to $500,000, will be used to purchase servers, workstations and other IT infrastructure necessary for the company to perform 3D image processing.
Currently a client of the Louisville Innovation and Commercialization Center, 3DR Laboratories anticipates that in addition to the company’s existing workforce of four, it will create a minimum of 20 full-time, high-tech and technical support jobs for Kentucky residents by December 31, 2010. Average annual salaries for the new positions will be approximately $62,000, exclusive of benefits.
- dbaDIRECT, Inc. – Florence; Founded in 1999, dbaDIRECT is an information technology managed services provider. From its headquarters in Florence, the company remotely monitors and manages over 100 corporate database environments nationwide, consisting of approximately 50 large public financial service companies, hospitals, and national retail chains, as well as approximately 50 medium-sized manufacturing and service firms. In addition to comprehensive monitoring and reporting, dbaDIRECT is able to provide complete database administration services, such as backup, recovery, maintenance, security and proactive optimization of the data infrastructure.
The funds, awarded in the amount of up to $469,000, will be used to enhance dbaDIRECT’s technology infrastructure to be compliant with IT governance and security standards.
Currently a client of the Northern Kentucky Innovation and Commercialization Center, dbaDIRECT anticipates that in addition to the company’s existing workforce of 83, it will create a minimum of 19 full-time, high-tech and technical support jobs for Kentucky residents by December 31, 2010, paying an average annual salary of approximately $75,000, exclusive of benefits.
All company awards are funded through the Cabinet’s High-Tech Investment Pool. The program is used to build and promote technology-based and research-intensive companies and projects with the goal of creating clusters of innovation-driven industries in Kentucky. The Kentucky statewide network of six Innovation and Commercialization Centers (ICCs) and six Innovation Centers (ICs) provides locally accessible, business-building and related services to Kentucky’s entrepreneurs and scientists.
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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2007 totaled nearly $2 billion with the creation of over 13,400 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.