Thursday June 30, 2005
State and local leaders announced today that Louisville-based Humana Inc. has chosen its hometown for a major expansion that will create approximately 1,100 new jobs. The announcement came after the Kentucky Economic Development Finance Authority approved incentives for the project at its monthly meeting this morning in Frankfort.
“Louisville is Humana’s home – as the company was established here and continues to experience significant and positive growth here. We are excited about what this tremendous expansion will mean to the economic growth of our community,” said Mayor Jerry Abramson. “In addition to the jobs and economic growth, Humana has become a leading corporate citizen through its leadership and employees continually playing an active role in civic, volunteer and charitable efforts in our hometown.”
Humana, Kentucky’s largest publicly traded company, offers coordinated health insurance coverage and related services to employer groups, government-sponsored plans and individuals. Due to their recent and projected growth opportunities, Humana chose to expand its headquarters facilities and staff of administration, customer support, information technology and other support services employees.
The new jobs would have an annual payroll of more than $46 million.
“As a physician I know the important role health care plays in Kentucky’s economy,” said Governor Ernie Fletcher. “We commend the leadership of Humana, Greater Louisville Inc., Louisville Metro and Secretary Strong for their cooperation in making our commonwealth a major player in the growing health care industry."
The $4.2 million expansion would be spread out over three locations, including its headquarters in Downtown Louisville. Humana is considering property on Bishop Lane and elsewhere in Downtown Louisville for remaining parts of the expansion. The authority approved Humana for up to $17 million in incentives for up to 10 years.
The partnership between Greater Louisville Inc. – The Metro Chamber of Commerce, Louisville Metro Government and state government brings new economic opportunities to the community. This year, through June, the innovative public-private partnership has helped 24 companies locate new operations or expand existing ones in the area. These projects have created 2,479 new jobs and nearly $107.3 million in new payroll. In all, more than $161 million has been invested in the community through these projects.
“Helping local companies expand is an essential part of our economic development strategy,” said Steve Higdon, Greater Louisville Inc.’s president and CEO. “Humana’s expansion is a major boost for Kentucky’s economic engine, and its effects will be felt across the city, region and state.”
In addition to the approximately 1,100 new jobs in Louisville, Humana will also add jobs in the Cincinnati/Northern Kentucky area.