Photos and cutlines from Genscape’s event are available for download here.
FRANKFORT, Ky. (Jan. 29, 2016) – Governor Matt Bevin and Louisville Mayor Greg Fischer congratulated executives from Genscape Inc. yesterday evening at a ribbon cutting ceremony to celebrate the opening of its new office in a renovated historic building in Old Louisville.
Out of space at its Market Street location, Genscape undertook a year-plus renovation of a brick, 88-year-old former dairy facility at 1134 Garvin Place. The company, which tracks energy and commodities industry data, plans to roughly double its Louisville employee count to about 180 in the coming few years.
“It is exciting to see a locally grown company continue to expand and reinvest in the community,” said Governor Bevin. “Seeing the value in a previously otherwise neglected property not only rejuvenates one of Kentucky’s most historic neighborhoods, but allows Genscape the opportunity to create jobs in the promising career field of data science right here in Old Louisville.”
Genscape CEO Matthew Burkley said the company enjoys Louisville and believes investing in the city’s past means a more vibrant future.
“We have seen our growth accelerate over the recent years, and we were simply out of room. With the goal of identifying top talent and doubling local employment, we have designed and redeveloped the building to reflect our creative, entrepreneurial culture, in hopes of maintaining our reputation as the best workplace in Louisville,” Burkley said.
Mayor Fischer said Genscape’s choice to remain in Louisville speaks to the city’s attributes.
“When we discuss quality of life in Louisville, we also mean quality of work life. Genscape recognizes all that our city offers – from parks to walking trails and a thriving downtown – and made a commitment to grow their headquarters locally,” Fischer said. “Genscape’s investment in the Old Louisville neighborhood will bring the tech jobs we are working to attract and will make a great impact on the surrounding small businesses.”
Founded in 1999 by two power traders who saw an opportunity for transparency in the market, Genscape gathers data from across the commodity and energy spectrum including power, oil, natural gas, petrochemical and natural gas liquids, agriculture, biofuels and maritime freight.
Genscape grew over the next decade to operate the world’s largest private network of in-the-field monitors. It recently added satellite reconnaissance, artificial intelligence and maritime freight tracking to its data acquisition capabilities.
The company’s customers include global commodity and energy trading hedge funds, banks, producers, marketers as well as numerous government entities, including U.S. Department of Energy and the Federal Energy Regulatory Commission.
Genscape is part of DMG Information, a division of Britain’s Daily Mail and General Trust plc.
Sen. Denise Harper Angel, of Louisville, said the company’s investment reflects well on Louisville.
“I extend my thanks and congratulations to Genscape for choosing to expand within Louisville and to invest in a historic property,” she said. “This recommitment boosts the tech sector and helps ensure Louisville remains a vibrant city in which to live and work.”
Rep. Tom Riner, of Louisville, said Genscape’s expansion points to a larger trend.
“Louisville and Kentucky overall continue to gain stature and momentum in the tech industry, through jobs, companies and new innovation,” he said. “Genscape’s ongoing presence and growth in Louisville can only mean good things.”
Genscape partnered with the state on workforce training through the Kentucky Skills Network in 2007, 2009 and 2015. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 5,600 Kentucky companies.
For more information on Genscape, visit www.genscape.com.
A detailed community profile for Jefferson County can be viewed here.
The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky in 2015 totaled a state record $5.1 billion, spurring more than 16,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com.