Cabinet for Economic Development
Governor Beshear Announces SIS Holding Company to Expand, Create 15 New High-Tech Jobs in Lexington
Technology solution provider to invest $5.5 million, provide data center and consulting services to new and existing clients
FRANKFORT, Ky. (March 25, 2010) – Gov. Steve Beshear and Cabinet for Economic Development Secretary Larry Hayes today announced the expansion of SIS Holding Company, a privately owned technology solution provider headquartered in Lexington for more than 25 years. The project will create 15 new high-tech jobs with an average annual wage of $80,000, exclusive of benefits. Additionally, SIS will invest $5.5 million in the Commonwealth as a result of the expansion.
“Kentucky is proud to have a longstanding, high-tech company such as SIS expand its operations here in Lexington, continuing to invest in its employees and facility,” said Gov. Beshear. “The creation of 15 new high-paying jobs and $5.5 million investment demonstrates the pro-business climate and exceptional quality of life Kentucky offers.”
SIS’ current business functions include hardware, software, maintenance and consulting services, sales and support. The expansion will provide data center and consulting services offerings including cloud computing, co-location, disaster recovery, application hosting and data center outsourcing. The company, which currently has 35 Lexington-based employees, will build or renovate an existing building. The expansion will significantly increase the size of its Lexington facility.
“Over the years, SIS has continually adjusted its business model to address the changes in information technology and provide relevant services to its clients,” said Steve Sigg, CEO of SIS Holding Company. “The services provided around cloud computing will position SIS to better support the information explosion that our clients are dealing with and help them gain competitive advantage in their markets.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved SIS Holding Company for tax incentives up to $450,000 through the Kentucky Business Investment Program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments.
KEDFA also approved the company for up to $79,000 in benefits through the Kentucky Enterprise Initiative Act, a program that allows approved companies to receive a Kentucky sales and use tax refund on construction materials, building fixtures and R&D equipment.
“Congratulations to SIS and thanks to Governor Beshear for another successful economic development initiative,” said Lexington Mayor Jim Newberry. “This is another example of the growing strength of our high tech sector, which is attracting national attention. It also demonstrates the power of focusing our economic development efforts on the horse, healthcare and high-tech sectors. Those sectors have considerable potential to produce good-paying jobs, like these.”
“The growth of our existing businesses is vital to Lexington’s economy,” said Commerce Lexington President & CEO Bob Quick. “SIS is a great example of a fast growing technology company that calls Lexington home. The caliber of jobs SIS is creating will be a benefit to our creative and technical workforce for years to come.”
More information on SIS Holding Company is available at www.ThinkSIS.com.
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.