Cabinet for Economic Development
CABINET AWARDS FUNDING FOR KENTUCKY HIGH-TECH COMPANIES
Ohio and Campbell County companies to create 16 new high-tech jobs in Kentucky
FRANKFORT, Ky. (July 30, 2009) – The Kentucky Economic Development Finance Authority (KEDFA) today awarded two Kentucky companies a combined total of up to $250,000 from the Cabinet for Economic Development’s High-Tech Investment Pool. The projects are anticipated to create a combined 16 new, high-tech jobs at an average annual salary of over $50,000.
“The two awards approved by KEDFA today include a Kentucky company that is expanding its existing location and one relocating here from another state,” said Larry Hayes, interim secretary of the Cabinet for Economic Development. “This illustrates that our economic incentive programs are very competitive and can support existing Kentucky businesses while also attracting new companies.”
Projects receiving funding include:
Gryphon Environmental, LLC – Hartford, Kentucky; up to $100,000 toward the development of the company’s patent-pending technology to filter and dewater municipal and industrial wastewater. Current industry practice can result in sludge with a high water content, which is often hauled and landfilled or land applied. Gryphon’s technology uses a vacuum and air injection system that employs certain thermodynamic principles to yield a much drier sludge that is less costly to transport and can be used as a coal dust additive or fabrication material. Not only can the new technology reduce processing and landfill costs for cities and companies, it can make wastewater treatment environmentally friendly and profitable. The funds will be used to purchase equipment for testing and validating production units, as well as for equipment to fabricate the systems. (www.2gryphon.com)
A client of the state’s Bowling Green Innovation and Commercialization Center, Gryphon Environmental anticipates that in addition to its two existing full-time jobs, it will create a minimum of seven full-time, high-tech and technical support jobs. Average annual salaries for the new positions will be approximately $50,000, exclusive of benefits.
Jacobs Automation, LLC – Campbell County, Kentucky; up to $150,000 toward the development of the company’s automation technology marketed to the packaging, material handling and converting industries. The company’s product, PackTrak, consists of a track on which independent “movers” are driven by a direct-drive linear motor. By replacing rotary driven chains, belts and gears with a direct-drive linear motor that controls each mover’s motion on the track via customized software, users can realize increased production rates and reduced energy consumption, as well as a reduction in changeover times and maintenance costs associated with conventional systems. Siemens, one of the world’s largest automation companies, provided seed funding for the development and integration of the PackTrak technology into its SIMOTION control software platform. The state funds will be used to pay patent expenses and to build two PackTrak demonstration units. (www.JacobsAutomation.com)
A client of the state’s Northern Kentucky Innovation and Commercialization Center, Jacobs Automation anticipates it will create a minimum of nine full-time, high-tech and technical support jobs for Kentucky residents, paying an average annual salary of approximately $65,000, exclusive of benefits.
The awards were funded through the Cabinet’s High-Tech Investment Pool, which 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. Kentucky’s statewide network of six regional Innovation and Commercialization Centers and seven local Innovation Centers provides accessible business-building consulting and related business services to Kentucky’s entrepreneurs and scientists.