Louisville-based OnPoint Warranty Solutions, a provider of warranty services for manufacturers, retailers, service providers, home builders, insurers and consumers, plans to expand in Jefferson County, Kentucky. The $900,000 project is expected to create 104 full-time jobs.
The company will invest in new equipment at its existing operation on Corporate Campus Drive, adding jobs at the facility’s call center. Work on the project is expected to begin later this year and be completed by 2022. OnPoint currently employs 16 people in Louisville, with other remote staff located across the U.S. and overseas.
“Our executive staff has deep roots in Louisville, as does our industry, which fondly refers to Louisville as the ‘warranty capital of the world,’” said OnPoint Warranty CEO Chris Smith. “Therefore, we decided to open for business here in Louisville. We are determined to build our team here in the city. The pool of talented residents in Louisville, both from an executive level, as well as from a technology and customer service perspective, is extensive. Industry innovators are here in Louisville. Technology innovators are right in the city core. We endeavor to grow OnPoint Warranty Solutions here in our hometown.”
To encourage the 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 $900,000 in tax incentives based on the company’s investment of $900,000 and annual targets of creation and maintenance of 104 Kentucky-resident, full-time jobs across 10 years and paying an average hourly wage of $18.55 including benefits across those jobs.
“OnPoint Warranty Solutions provides services in support of a broad range of industries, and the company’s growing presence in Louisville deepens its ties in the commonwealth,” Governor Andy Beshear said. “I want to thank OnPoint for this commitment to its existing and future employees in the Louisville area, and I hope to see the company continue to grow in our state well into the future.”
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, OnPoint can receive resources from the Kentucky Skills Network.
“Our competitive cost structure and high quality of life makes Louisville an attractive place for companies offering B2B services, and despite the pandemic-created recession, business services bounced back quickly and remains one of Louisville’s strongest industries,” Mayor Fischer said. “Thank you to OnPoint Warranty for choosing Louisville for this expansion and for your commitment to our city.”