Company specializing in augmented reality and engagement software selects Kentucky



Kentucky State Seal

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*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:*?

*Crystal Staley*
*502-545-3714*

*Brandon Mattingly
502-782-2006*






*******************MyXR Inc. To Locate Regional Headquarters at WKU Innovation Campus in Bowling Green, Create 60 Full-Time Jobs*******************

"""""""""""""""""""""""Company specializing in augmented reality and engagement software selects Kentucky"""""""""""""""""""""""

*FRANKFORT, Ky. (April 12, 2023) *? Today, Gov. Andy Beshear announced augmented reality and engagement software company MyXR Inc. has committed to locate its new regional headquarters at the Western Kentucky University Innovation Campus in Bowling Green and will create 60 full-time positions.

?I want to welcome MyXR to the commonwealth and congratulate Warren County on landing this innovative company,? Gov. Beshear said. ?We are focused on creating quality jobs across the industries of the future, and this is yet another step toward achieving that goal. I look forward to many years of success and growth for MyXR in Kentucky.?

MyXR will initially locate in a 1,200-square-foot space at the WKU Innovation Campus and add to the region?s growing business community within the emerging technology sector. MyXR will benefit from the new Immersive Experience Innovation Lab at the Innovation Campus, which focuses on creating immersive environments for various industries. The lab will help the company continue to develop its augmented reality technology and explore new applications. The new headquarters will allow the company to expand MyXR Engage software, which integrates across digital platforms to increase engagement with gamification and rewards technology.

?For our team, our prospects and our shareholders, selecting the WKU Innovation Campus and the state of Kentucky was an easy decision after a long review process,? said Hans Koch, chairman and CEO of MyXR Inc. ?The Kentucky public and private communities have given us both a welcome mat and a playbook for growing our business, delivering better service and software, and an opportunity to create a world-class corporate hub for our company. We can?t wait to get started in Kentucky. We?re grateful to Gov. Beshear, the City of Bowling Green and everyone at the WKU Innovation Campus.?

San Francisco-based MyXR is a software company founded in 2017. In the years since, MyXR has acquired new technologies, built new augmented reality prototypes and engaged in beta testing and global pre-sales across industries. Most recently, the company released its MyXR Engage 2.0 platform in September 2022 to gamify and engage audiences from brands/entertainment, professional sports, nonprofits, universities and more. The company also formed the MyXR Foundation Fund and identified a sales support/technology integration center as a crucial corporate need for 2023. MyXR searched for a location to fuel the next level of growth and expand its sales support for and innovative engagement technology to customers worldwide. MyXR selected Kentucky after a six-month selection process.

Buddy Steen, CEO of the WKU Innovation Campus, said the arrival of MyXR represents investment in an area with significant growth potential in the years ahead.

?Applied artificial intelligence and extended reality technologies are helping shape our professional, personal, family and civic lives,? Steen said. ?We want to attract and retain companies who focus on creating immersive experiences that combine new technologies with strong transmedia storytelling and that are committed to improving all facets of our lives. We are excited to have MyXR Inc. as part of that focus.?

Warren County Judge/Executive Doug Gorman said the community continues to look for ways to move forward and prepare for the industries of the future.

?Through the arrival of companies like MyXR Inc., we are actively contributing to the growth and development of our region?s emerging technology and innovation industry,? Judge Gorman said. ?This partnership between the chamber and the WKU Innovation Campus is a testament to our community?s collaborative and forward-thinking spirit. We are excited to see its positive impact on our region's economy and talent attraction efforts.?

Bowling Green Mayor Todd Alcott noted the opportunities offered by MyXR to encourage community engagement.

?This is a great opportunity for Bowling Green to showcase its emerging technology and storytelling scene, and we are thrilled to have MyXR Inc. join our community,? Mayor Alcott said. ?We can use XR Technology to create immersive experiences that promote community engagement and cultural exchange.?

Ron Bunch, CEO of the Bowling Green Area Chamber of Commerce, welcomed the company?s commitment to Warren County.

?We are proud to have MyXR Inc. in the fastest growing city in Kentucky and contribute to the developing emerging technology and storytelling ecosystem here north of Nashville,? Bunch said. ?Bringing in a company built to engage and inspire millions with its scalable software platforms is a great win for the community.?

John Bradley, TVA senior vice president of economic development, said he supports the company?s growth in the region.

?TVA and Bowling Green Municipal Utilities congratulate MyXR on its decision to locate in Bowling Green,? Bradley said. ?The creation of quality jobs will have a positive impact in Warren County, and we are proud to support this company and our partners, Kentucky Cabinet for Economic Development, Bowling Area Chamber of Commerce and Bowling Green Municipal Utilities, in finding continued success in the valley.?

MyXR?s investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.

Since the beginning of his administration, Gov. Beshear has announced the creation of 44,800 full-time jobs and 846 private-sector new-location and expansion projects totaling $25.8 billion in announced investments.

The Governor has now secured the best two-year period in state history for economic growth.

In 2021, the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years.

That momentum continued strongly into 2022 with 248 new-location and expansion announcements totaling 16,000 full-time jobs behind nearly $10.5 billion in new investment.

The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 was $26.78 before benefits, the second-highest mark since 2010 and an 11.5% increase over the previous year.

Gov. Beshear also announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated [ [link removed] ] a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April 2022, the Governor was joined by leadership at Envision AESC to announce [ [link removed] ] a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States.

Kentucky?s success has been noted by both S&P Global Ratings and Fitch Ratings, which have upgraded the state?s financial outlook to positive in recognition of the commonwealth?s surging economy.

Site Selection magazine placed Kentucky second nationwide and first in the South Central region for its annual Governor?s Cup ranking for 2022, which recognizes state-level economic success based on capital investments.

Gov. Beshear?s administration is projected to post the four highest years of budget surpluses in Kentucky history, and the state?s rainy-day fund has a record balance of $2.7 billion.

Gov. Beshear recently announced a new ?Supply Kentucky [ [link removed] ]? initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.

The Governor also recently announced that Kentucky set the lowest annual unemployment rate in state history [ [link removed] ] for 2022 at 3.9%. This is the lowest rate seen since the U.S. Bureau of Labor Statistics began reporting state unemployment rates in 1976.

For more information on MyXR, visit MyXR.com [ [link removed] ].

A detailed community profile for Warren County can be viewed here [ [link removed] ].

Information on Kentucky?s economic development efforts and programs is available at "CED.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

Read about other key updates, actions and information from Gov. Beshear and his administration at?governor.ky.gov [ [link removed] ],?kycovid19.ky.gov [ [link removed] ]?and the Governor?s official social media accounts?Facebook [ [link removed] ],?Twitter [ [link removed] ]?and?YouTube [ [link removed] ].

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