Cabinet for Economic Development
Gov. Beshear Announces Xact Communications to Locate Headquarters in Lexington, Create 20 Jobs
Telecommunication firm to invest more than $1.5 million in the Commonwealth
LEXINGTON, Ky. (June 1, 2012) – Governor Steve Beshear today announced Xact Communications will establish its U.S. and international headquarters in Lexington, creating 20 new, full-time jobs and investing $1.57 million in the Commonwealth.
“Kentucky is proud to welcome the headquarters of Xact Communications and the 20 new jobs it represents for Lexington,” Gov. Beshear said. “We look forward to Xact’s future success, and we’re glad the Commonwealth could play a role in the growth of a new corporate citizen.”
Xact Associates LLC, doing business as Xact Communications, plans to lease a 2,000-square-foot facility in Lexington to serve as its headquarters. The company’s goal is to become a premier provider of telecommunications services for businesses, offering a new choice in cloud-based phone and internet service.
“We are excited to locate our new headquarters in Lexington,” said Dale Cooper, president and chief sales officer for Xact Communications. “Xact Communications is pleased with the level of support we have received from many entities in the Lexington region, including Commerce Lexington, the Innovation and Commercialization Center, the city of Lexington and the Cabinet for Economic Development. With this tremendous support we know our business will flourish.”
To encourage the headquarters location and job growth in Lexington, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 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.
“This investment by Xact Communications is an investment in our community that will provide a boost to our local economy and new opportunities for our workers,” said Sen. Kathy Stein, of Lexington. “It speaks well of our workforce that Xact chose Lexington for its operations.”
“Lexington has long been business-friendly, but we have seen a definite surge in recent years, with announcements like Xact's being a perfect example,” said Rep. Kelly Flood, of Lexington. “I want to thank the company for making our community its home base for its work here and across the country. I also appreciate the assistance that our state and local officials have been able to provide to make this possible.”
“We have been working hard to bring corporate headquarters to Lexington because headquarters bring strong leaders and problem solvers who can help us build a pro-business, progressive city; a Great American City,” said Lexington Mayor Jim Gray. “Headquarters support and strengthen our efforts to grow good-paying jobs.”
“The Bluegrass Business Development Partnership is excited that Xact Communications has chosen Lexington for their new telecommunications headquarters,” said Bob Quick, president and CEO of Commerce Lexington Inc. “Xact could have located their business anywhere, but because of our highly educated workforce and low cost of doing business, Lexington was the best choice for their company. Welcome to Lexington!”
For more information on Xact Communications, contact President Dale Cooper at email@example.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.
A detailed community profile for Lexington (Fayette County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053.