Gov. Beshear: JQOL Global To Create 113 Kentucky Jobs, Invest $6.4 Million With New Operation in Louisville
Indiana-based engineering company was founded in 2019
FRANKFORT, Ky. (June 18, 2024) ? Today, Gov. Andy Beshear announced continued economic growth in Jefferson County as JQOL Global, a certified Minority Business Enterprise and full-service civil engineering firm, plans to locate a new facility in Louisville, creating 113 full-time Kentucky jobs with a $6.4 million investment.
?When a company locates a new operation in Kentucky, its leaders are choosing to trust and believe in our state?s unique resources, skilled workforce and business-friendly environment,? said Gov. Beshear. ?JQOL is yet another quality company bringing its services and well-paying job opportunities to the commonwealth. I want to thank the company?s leadership and look forward to their success in Louisville.?
The project will see the company establish a new operation in an existing 5,000-square-foot building located at 501 Baxter Ave. in Louisville. JQOL?s investment will create 113 new job opportunities for the Louisville and Jefferson County communities with an average total hourly compensation of $59.15, including benefits. The new facility will serve as the company?s second Kentucky location, with an existing operation in Owensboro.
?On behalf of JQOL Inc., we extend our heartfelt gratitude to the city of Louisville and the state of Kentucky for their invaluable assistance and incentives,? said Jarvis Jointer, president of JQOL Global. ?Your support has been instrumental in making our new location a reality, and we look forward to contributing to the growth and prosperity of this vibrant community.?
Founded in 2019, JQOL Global is a certified Minority Business Enterprise (MBE/DBE) and full-service civil engineering firm based in Indianapolis. The company offers a wide range of engineering services, including site, structural and transportation as well as surveying and construction administration. The company maintains the vision that civil engineers impact all parts of peoples? life on a daily basis, with the goal of providing a quality product by understanding the client?s needs and vision from the beginning and duration throughout the project.
Louisville Mayor Craig Greenberg looks forward to JQOL joining the community and bringing quality job opportunities with them: ?Louisville is thrilled to welcome JQOL Global to our city, along with the 113 new, good-paying jobs the company is creating for our people. This investment underscores our city?s successful business environment and the talented future leaders emerging from the University of Louisville?s J.B. Speed School of Engineering. We welcome JQOL as they join a growing list of businesses investing in Louisville?s bright future.
JQOL?s investment and job creation build on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $31.7 billion in announced investments, creating approximately 53,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth?s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On?s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC?s $2 billion, 2,000-job gigafactory project in Warren County; Toyota?s $1.3 billion investment in Scott County; and INFAC North America?s $53 million investment in Taylor County, among others.
The Governor?s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody?s Investors Service upgraded Kentucky?s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central economic development projects per capita in its 2023 Governor?s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a ?Supply Kentucky? initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last month preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $2 million in tax incentives based on the company?s investment of $6.4 million and annual targets of:
- Creation and maintenance of 113 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $59.15 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, JQOL can receive resources from Kentucky?s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on JQOL Global, visit jqolusa.com.
A detailed community profile for Jefferson County can be viewed here.
Information on Kentucky?s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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