Cabinet for Economic Development
Governor Beshear Announces Galmont Consulting to Locate Software Testing Facility in Lexington
Company to create 90 new engineering jobs, create partnership with University of Kentucky’s College of Engineering
LEXINGTON, Ky. (May 14, 2010) – Gov. Steve Beshear today joined community officials and company representatives from Galmont Consulting on the University of Kentucky (UK) campus in Lexington to announce the location of a new software testing center. Galmont Consulting will hire 90 new, full-time employees in Lexington and plans to form a partnership with the UK’s College of Engineering to hire and train computer science graduates.
“Galmont Consulting will be an excellent addition to Lexington’s corporate landscape, bringing 90 new engineering jobs and a $1.3 million investment,” said Gov. Beshear. “These employment opportunities will also help open the door for our recent graduates from the University of Kentucky’s College of Engineering. It’s a win-win for everyone.”
The company plans to locate its new testing center within a 4,000 square-foot facility, located at 108 Esplanade, which offers room for growth. The project represents a $1.3 million investment in the Commonwealth. Average annual wages for the new employees will range from $44,000 to $46,000, exclusive of benefits. Hiring is expected to begin this summer; all 90 employees will be in place within three years.
“We are currently seeing a big swing back in the direction of companies trying to bring some of their outsourced testing activities back to the U.S.,” said Jeri Smith, president of Galmont Consulting. “Lexington’s close proximity to our headquarters, as well as the volume of quality computer science graduates from the University of Kentucky and other area colleges, will help Galmont better serve our global clientele.”
Headquartered in Chicago, Ill., Galmont Consulting provides software engineering and testing for a variety of clients, including many Fortune 500 companies in the insurance, healthcare and financial industries.
“Once again, the brainpower at the University of Kentucky is attracting high-tech jobs to our city,” said Lexington Mayor Jim Newberry. “This is more evidence that our economic development strategy, partnering with UK and the private sector and focusing on the horse, health care and high-tech sectors, is moving Lexington forward. With today’s announcement and others, our partnership has now attracted over 2,400 jobs.”
“Lexington is proud to welcome Galmont Consulting to our growing technology sector,” said Bob Quick, president and CEO of Commerce Lexington. “Galmont has the potential to grow very quickly and create many high-paying jobs. Galmont’s decision to invest in Lexington is a true testament to our quality of life, low cost of doing business, and strong private and public partnerships.”
Conversations are ongoing between Galmont Consulting and the UK College of Engineering to form a partnership that will help identify graduating computer science students that could work for the company, testing and delivering software to its global clientele. A co-op program is also being discussed.
“We are excited to welcome Galmont Consulting to the Bluegrass,” said UK President Dr. Lee T. Todd Jr. “They are bringing the type of creative and innovative jobs that are crucial to the growth and development of our economy as well as keeping our best and brightest in the Commonwealth. I look forward to partnering with Galmont as we seek to provide world-class, high-tech career opportunities for our graduates right here in Lexington.”
The Kentucky Economic Development Finance Authority preliminarily approved Galmont Consulting for tax incentives up to $800,000 through the Kentucky Business Investment program. The incentive can be earned over a five-year period through corporate income tax credits and wage assessments. The maximum annual approved amount to be earned by Galmont Consulting is $160,000.
A detailed community profile for Lexington (Fayette County) can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=053. Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.