FRANKFORT, Ky. (Dec. 19, 2024) – Today, Gov. Andy Beshear highlighted exciting momentum within the state’s service and technology sector as Nexigen Communications LLC, a privately owned technology company specializing in managed services, cybersecurity, cloud services and AI enablement, will expand operations in Campbell County with a $4.35 million investment, creating 75 full-time jobs, with at least 43 of those being filled by Kentucky residents.
“Kentucky’s historic economic momentum would not be possible without the continued growth and investment from the companies founded and established here in our New Kentucky Home,” said Gov. Beshear. “This is a great investment for the Campbell County community that will provide dozens of quality job opportunities for the area’s residents. I want to thank company leadership for continuing to believe in what this great state has to offer and look forward to their continued success in Northern Kentucky.”
To meet growing industry demand and continued company growth, Nexigen will expand its current operation in Newport, adding an AI research lab that will serve as a national resource for businesses and institutions exploring responsible AI in their organizations. New positions to be filled will be for workers skilled in artificial intelligence, IT security, management and software development. The expansion will bring the company’s total employment to over 150 and statewide employment to 78.
“Bev Holiday played a pivotal role in our process, and we are deeply grateful for her unwavering dedication to our region,” said Nexigen CEO Jon Salisbury. “We also extend our heartfelt thanks to our entire community for coming together, from state, county and city leaders to impactful organizations like BE NKY, REDI and other essential regional support groups that champion local businesses.”
“Our expansion in Newport marks an exciting milestone for us as we embrace new opportunities in technology innovation,” said Nexigen CFO J.J. Schaffer. “This new office reflects our commitment to growth, collaboration and bringing cutting-edge solutions to the region. We look forward to building strong partnerships and contributing to the vibrant local community.”
Nexigen is a privately owned technology company specializing in cybersecurity, cloud services, outsourced IT solutions, AI enablement and managed network support for businesses nationwide. Founded in 2003 by Schaffer and CEO and Jon Salisbury, the company is headquartered in Newport, Kentucky. Nexigen has experienced consistent growth year after year since its inception, achieving $15 million in revenue in 2023 and projecting an additional 30% increase in 2024.
Campbell County Judge/Executive Steve Pendery shared: “It’s exciting to see a locally owned technology company like Nexigen continue to invest in our community and create excellent career opportunities in a growing industry sector. Their expansion reinforces that Campbell County is a great place to start and grow a business in the tech world. The new Nexigen Labs will attract CIOs and tech leaders focused on AI research from across the country, creating opportunities that will benefit future generations.”
Newport City Manager Tom Fromme thanked Nexigen for expanding in Newport: “Nexigen currently has a significant presence in Newport, and we’re thrilled to see their continued investment in the city with the purchase and restoration of an existing building and technology-focused job creation. The new location will positively impact many of our stores and restaurants along Monmouth Street.”
BE NKY Growth Partnership CEO Lee Crume noted that information technology is a target sector for the region: “We’re happy to retain Nexigen in Northern Kentucky and see the company grow with a new AI research lab in the heart of Newport. Nexigen Labs will be a destination locally and nationally for the tech community, helping raise Northern Kentucky’s profile in the tech industry.”
Nexigen’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 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 58,800 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $13.5 billion more than the next highest total.
The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three 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; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby 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, S&P Global Ratings and Moody’s Investors Service.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central region for 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 in the 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. And last month, the Governor announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last week 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 $4.35 million and annual targets of:
- Creation and maintenance of 43 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $49.61, 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, Nexigen 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 Nexigen, visit nexigen.com.
A detailed community profile for Campbell County can be viewed here.
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