A rapidly growing Louisville technology company is about to add a lot of new jobs, following an approved tax incentive from the state.
El Toro Internet Marketing will add 400 jobs over the next five years, company CEO Stacy Griggs said. That will bring El Toro’s workforce to more than 500 employees.
This news follows El Toro receiving an approval of up to $7.5 million in tax incentives over 10 years by The Kentucky Economic Development Finance Authority. El Toro can claim these incentives, which would allow the company to keep a portion of its new tax revenue, by meeting job and investment targets each year.
A filing from the state shows El Toro will be hiring new employees for $30 an hour with benefits included.
The tax incentives will help El Toro move its headquarters to the Gateway to NuLu building at 442 E. Market St. in Louisville, which it plans to do by early 2020.
“We’re growing very rapidly, and Kentucky and Louisville have really stepped up and helped us grow,” Griggs said in an interview the Courier Journal.
Founded in Louisville in 2013, El Toro moved into a renovated space in 2016 at 124 N. 1st St., in the Whiskey Row neighborhood, north of Main Street. The company currently has more than 100 employees.
According to a statement from the governor’s office, “El Toro provides a range of online marketing services, including advanced analytics, mobile location marketing and IP targeting. El Toro’s patented tools provide a unique series of technologies allowing customers to directly market to their target customers via numerous omnichannel methods, including digital advertising, connected TV and direct mail. The company also provides ad-tech for political advertising in the US and internationally.”
“The company has made tremendous strides in a very short time, and we look forward to seeing that strong momentum continue well into the future, as Kentucky’s tech sector soars to new heights,” Gov. Matt Bevin said in the statement.
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