Thursday, 04 18, 2013
Research and development firm to create 20 jobs; invest more than $3 million
HEBRON, Ky. – Lieutenant Governor Jerry Abramson today joined company and local officials in northern Kentucky for a ribbon-cutting for ZoomEssence Inc. The research and development firm is creating 20 full-time jobs and investing more than $3 million in the Commonwealth.
Gov. Steve Beshear applauded the success for ZoomEssence, which utilizes its DriZoom™ technology to deliver liquid-quality flavors and ingredients in a powder form.
“ZoomEssence is an example of a high-tech company developing and manufacturing innovative products here in the Commonwealth, and we are very proud of that,” said Gov. Beshear. “The workforce, logistical advantages and business climate in Kentucky all play vital roles, but quality products and top-notch people make companies such as ZoomEssence stand out.”
“We are thankful to have a partnership with a start-up company that chose to plant roots right here in the Commonwealth,” said Lt. Gov. Abramson. “Today’s ribbon-cutting represents a lot of dedication from numerous individuals. That hard work is paying off, and we’re already seeing some of the results with 20 new jobs and a multi-million dollar investment.”
ZoomEssence has developed the DriZoom™ process technology for converting liquids to powders at ambient temperature. DriZoom™ is a cost effective process that replaces standard high-temperature spray drying by delivering products with improved efficacy, longer shelf life and improved solubility.
ZoomEssence creates and manufactures powdered flavors and food ingredients, with more than 300 types in various snacks, soups, coffee, tea, and other products. The company also manufactures instant coffee, instant tea, Omega-3 powders, vitamins, and other dry products serving a wide variety of customers. Eleven of the 20 new, full-time jobs at ZoomEssence are considered high-tech and technical support jobs, with an average annual salary of approximately $67,000, excluding benefits.
“Our disruptive technology was born and developed right here in Kentucky,” said Bob Corbett, CEO of ZoomEssence. “We appreciate the support received from Gov. Beshear, Lt. Gov. Abramson and the entire Kentucky business community. We look forward to many more years of growth, job creation and involvement in our community.”
To encourage the investment and job creation in northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved ZoomEssence for funding up to $175,000 through the Cabinet for Economic Development’s High-Tech Investment Pool. The Pool is used to support technology-based and research-intensive companies and projects in the Commonwealth.
“I am thrilled and delighted with ZoomEssence’s decision to establish itself in Hebron,” said Sen. John Schickel, of Union. “I am confident that both the quality of our workforce and our quality of life will meet our new community partner’s needs.”
“The highly skilled, highly paying jobs being created with this new research and development facility only serves to reinforce Boone County and northern Kentucky as a primary destination for new business, and for expansion of existing companies like ZoomEssence,” said Rep. Addia K. Wuchner, of Florence. “It is my hope today’s ribbon-cutting can act as a beacon to other businesses that our region is a great place to locate, and offers a talented workforce.”
“ZoomEssence exemplifies the type of success we anticipate for northern Kentucky companies in the start-up mode,” said Boone County Judge-Executive and Chairman Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) Gary Moore. “This company exhibits technical expertise through their employees, products and overall drive to succeed. We are appreciative that they’ve chosen northern Kentucky to grow their business and grateful that the ezone, a division of Tri-ED is able to support this growth.”
For more information on ZoomEssence, visit www.zoomessence.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.
A detailed community profile for Northern Kentucky can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=049.
For more information about Northern Kentucky, visit www.NorthernKentuckyUSA.com. Northern Kentucky Tri-ED can also be followed through social media channels via Facebook, LinkedIn, Twitter and YouTube. To sign up for NKY Thrives e-newsletter, please visit www.nkythrives.com.