LOUISVILLE, Ky. (Nov. 14, 2023) – Today, Gov. Andy Beshear joined local officials and company leadership at V-Soft Consulting, a provider of information technology consulting, for the grand opening of its new Louisville headquarters operation.
“I’m always happy to see companies locate in the commonwealth, but there’s something really special about a company that chooses to stay and locate their headquarters here,” said Gov. Beshear. “Today’s official opening is an incredible achievement, not just for V-Soft, but for the Louisville community and Kentucky as a whole. I am thrilled to be here today to celebrate this exciting step and look forward to V-Soft’s success for many years to come.”
V-Soft Consulting recently moved out of a shared space and into a new, owned space. Approximately 75 employees within the Louisville market call the new headquarters home. Company leaders’ vision for the building goes beyond V-Soft’s daily work, allowing for other professional meetings and community events, including events hosted by Greater Louisville Inc., One West and Women in Commercial Real Estate – Louisville, which have already made use of the space. V-Soft plans to have a regular cadence of not-for-profits and local boards using the space in the future. The company is also hosting other tenants in the building, including Houchens Insurance Group and Fischer Homes, both of which are on target to move in early 2024.
“V-Soft experts create innovative solutions that place our clients at the top of their industry. Our talent touches every part of a company from team members to digital efficiencies to the foundation of their digital structure,” said V-Soft Consulting President Purna Veer. “Our vision is to expand our capabilities and development through our innovation center, showcasing cutting-edge solutions to our customers. Our state-of-the-art headquarters is a testament to our commitment to the growth of this community and solidifying our position as pioneers in the ever-evolving tech landscape.”
V-Soft Consulting is a U.S.-based corporation providing information technology consulting from locations throughout the U.S., Canada and India. Trusted to serve American businesses since 1997, V-Soft offers compelling value through innovative solutions, hybrid sourcing and industry-leading agile practices.
Louisville Mayor Craig Greenberg mentioned the V-Soft team that made the move possible: “Louisville is a city where technology start-ups can thrive, and V-Soft Consulting exemplifies that. Not only are they a growing, successful global company, but they’ve also made the Best Places to Work list in both Kentucky and India. That’s a testament of the values that Purna leads with. Thank you to Purna, Radhika and the entire V-Soft team for your work, your partnership and for investing in our city’s future!”
V-Soft’s investment and job creation builds on recent economic momentum in the commonwealth.
Last week, Gov. Beshear reported that General Fund receipts for October 2023 totaled over $1 billion, marking the 14th straight month with revenues over $1 billion. The Governor also recently announced that his administration secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history.
The General Fund budget surplus at the end of fiscal year 2023 was more than $1.55 billion. Nearly all of the $1.55 billion surplus will go into the commonwealth’s Rainy Day Fund, bringing the fund to a record balance of $3.7 billion – a 2,700% increase since Gov. Beshear took office in 2019.
This year, the Governor announced that Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Since the beginning of his administration, Gov. Beshear has announced 903 private-sector new-location and expansion projects totaling nearly $27.8 billion in announced investments, creating approximately 48,700 jobs. This is the highest investment figure for any governor in state history.
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.
The Governor also secured the best two-year period in state history for economic growth and announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK On celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. In April 2022, the Governor was joined by leadership at AESC to announce 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.
That position was strengthened even further in May 2023, when the Governor and leaders at Toyota announced a $591 million investment across multiple projects as the company’s largest manufacturing operation in Georgetown introduced its first battery electric vehicle. Growth within the EV sector continued into June as Gov. Beshear joined INFAC North America to break ground on the company’s $53 million investment to support EV-related production in Campbellsville.
Over a two-month period this year, Kentucky secured two credit rating increases from major agencies. On May 12, Gov. Beshear announced that his administration obtained the first state-level credit rating upgrade in 13 years and the first-ever upgrade from Fitch Ratings. On June 29, Gov. Beshear announced the commonwealth received its first-ever rating increase from S&P Global Ratings. Recently, Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
Site Selection magazine placed Kentucky first in the South Central region and top-5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects. The publication also 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 announced a new “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
For more information on V-Soft Consulting, visit VSoftConsulting.com.
A detailed community profile for Jefferson County can be viewed here.