ACCOUNTS RECEIVEABLE MANAGEMENT, INC. ANNOUNCES NEW CUSTOMER SERVICE CENTER IN JEFFERSON COUNTY

FRANKFORT, KY – Governor Ernie Fletcher and Economic Development Cabinet Secretary Gene Strong along with officials from Greater Louisville Inc.- The Metro Chamber of Commerce and Louisville Metro Government today announced Accounts Receivable Management, Inc. has chosen Louisville to open a new customer service center to better serve its existing clients.

"Economic development is one of the most important endeavors of my administration," said Governor Ernie Fletcher. "I am proud to welcome Accounts Receivable Management, Inc. to Louisville. The new jobs this move will create will undoubtedly help make life better for countless Kentucky families."

Accounts Receivable Management, Inc. is a full service credit and collections operation currently based in Thorofare, New Jersey employing 275 people. The company is opening a 10,000 square-foot facility in Jefferson County and anticipates hiring 50 full-time employees at an average annual wage of $30,000.

"Our quality workforce and proximity to its customers made Louisville the natural choice for expansion by Accounts Receivable Management. It's another sign that employers recognize all this community has to offer in terms of our labor force and central location," said Louisville Mayor Jerry Abramson.

"Accounts Receivable Management, Inc. is excited for the opportunity to expand its current business in the Louisville area," stated Joseph Burch, Senior Vice President of ARM, Inc. "We anticipate an excellent workforce and look forward to a long term successful business venture in Kentucky."

"Greater Louisville has a workforce that’s readily available and trained in this industry. It's an advantage that we have over several of our competitor cities," said Steve Higdon, president and CEO of Greater Louisville Inc. – The Metro Chamber of Commerce. "We welcome ARM to our community and look forward to working with them again in the future."

Thanks to a strong public-private partnership, Greater Louisville Inc. provides economic development services for Louisville and the surrounding metropolitan area. GLI works with companies considering new operations or expanding existing ones across the area and provides such services as: site and location analysis, workforce attraction and development strategies and entrepreneurial services.

ARM, Inc. received preliminary approval from the Kentucky Economic Development Finance Authority (KEDFA) for tax credits under the Kentucky Jobs Development Act (KJDA), an incentive program aimed at increasing the number of service- and technology-related jobs in the state.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2003 totaled more than $1.56 billion with the creation of just over 13,800 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at http://www.thinkkentucky.com/.