Gazelle Inc., which operates a popular trade-in site for consumer electronics, announced that it will be setting up a new 37,500-square-foot processing center in Louisville, Kentucky.
The project will require Gazelle to invest $22.3 million and create 438 new jobs with wages of $14 per hour.
Gazelle began operations in 2007, and has since paid out more than $100 million for more than 1.5 million laptops, smartphones, tablets and other electronic devices which people no longer need or can use.
The Louisville facility will be doing in-house the work which the company until now it has outsourced.
Israel Ganot, co-founder and CEO of Gazelle, said they chose Louisville because it was a major shipping hub and because of the great workforce. He also credited the state with making the project economically attractive.
Ganot specifically mentioned that they appreciated everything KY Governor Steve Beshear, Louisville Mayor Greg Fischer, Greater Louisville Inc. and Kentucky Economic Development Finance Authority (KEDFA) had done to get them to this point.
Craig Richard, president and CEO of GLI, said Gazelle was the perfect example of the sort of confidence that businesses have about the community. He said the new jobs and significant investment in the region‚Äôs increasingly desirable distribution and logistics sector would be a welcome boost to the economy.
Apart from the the available workforce and the¬†Jefferson Riverport International location of the Gazelle processing center close to the¬†UPS air hub Worldport, one of the factors that helped Gazelle choose Louisville was the fact KEDFA is offering Gazelle state incentives worth $3 million under the Kentucky Business Investment program.
As long as Gazelle continues to meet its job creation and investment targets, they will get a portion of it back through corporate income tax credits and wage assessments over the 10-year period of the agreement.
Discussions had been at a final stage since early this year, and Louisville Mayor Greg Fischer helped seal the deal by hosting company executives during the Kentucky Derby last month. The company reportedly signed a lease agreement for the site immediately afterwards.
Mayor Fischer said that Gazelle was an innovative and fast-growing company that was a perfect fit for Louisville.
Gov. Beshear also praised the Boston, Massachusetts-based Gazelle, saying that it saw a consumer need and has worked to fill that void, and that is what great businesses are all about. He said the company was growing at more than 100 percent per year, and that showed the success and growth driving their investment and the new jobs created in Louisville.