FRANKFORT, Ky. (June 10, 2021) – Today, Gov. Andy Beshear congratulated OnPoint Warranty Solutions, a Louisville-based provider of warranty services for manufacturers, retailers, service providers, home builders, insurers and consumers, on moving forward with plans to create 104 full-time jobs, expanding in Jefferson County with a $900,000 investment.
“OnPoint Warranty Solutions provides services in support of a broad range of industries, and the company’s growing presence in Louisville deepens its ties in the commonwealth,” Gov. Beshear said. “I want to thank OnPoint for this commitment to its existing and future employees in the Louisville area, and I hope to see the company continue to grow in our state well into the future.”
OnPoint plans to invest in new equipment at its existing operation on Corporate Campus Drive. The company will add 104 jobs at the facility’s call center, as OnPoint launches a new nationwide program in support of retailers and manufacturers. Work on the project is expected to begin later this year and be completed by 2022. OnPoint currently employs 16 people in Louisville, with other remote staff located across the U.S. and overseas.
“Our executive staff has deep roots in Louisville, as does our industry, which fondly refers to Louisville as the ‘warranty capital of the world,’” said OnPoint Warranty CEO Chris Smith. “Therefore, we decided to open for business here in Louisville. We are determined to build our team here in the city. The pool of talented residents in Louisville, both from an executive level, as well as from a technology and customer service perspective, is extensive. Industry innovators are here in Louisville. Technology innovators are right in the city core. We endeavor to grow OnPoint Warranty Solutions here in our hometown.”
Rob Christian, the company’s chief risk officer, said when he started OnPoint in 2015 in California as a warranty consulting business, he knew he wanted to bring it back home to Kentucky.
“As I relaunched the business in 2018 as a warranty services provider, and partnered with Chris to grow the business, Louisville, Kentucky, was the only place that could help us support the trajectory that we planned for the business,” Christian said.
Established in Louisville in 2018, OnPoint provides warranty underwriting and administration, extended appliance and electronics warranty administration, home warranty administration and HVAC service plans, and a newly launched screen protection program for manufacturers, retailers, service providers and other entities in the consumer market. The company enables global brands, including manufacturers, retailers, builders and insurers to deliver exceptional product service experiences to their customers.
Louisville Mayor Greg Fischer said the company’s success reflects the continued growth of the local business community.
“Our competitive cost structure and high quality of life makes Louisville an attractive place for companies offering B2B services, and despite the pandemic-created recession, business services bounced back quickly and remains one of Louisville’s strongest industries,” Mayor Fischer said. “Thank you to OnPoint Warranty for choosing Louisville for this expansion and for your commitment to our city.”
This investment from OnPoint furthers recent economic momentum in the commonwealth, as the state builds back stronger following the effects of the pandemic.
Last month, Moody’s Analytics published a positive economic outlook for Kentucky, noting mass vaccination as the driving force behind a sustained recovery in consumer services. The state’s recovery, Moody’s said, benefited from earlier reopening efforts and increased demand for manufactured goods over services. The report also found Kentucky’s manufacturing industry outperformed the nation’s since the national downturn last year.
Fitch Ratings last month upgraded the state’s financial outlook to stable, reflecting the commonwealth’s solid economic recovery. The state’s April sales tax receipts set an all-time monthly record at $486.5 million, as did vehicle usage tax receipts at over $64 million.
In March, Site Selection magazine’s annual Governor’s Cup rankings for 2020 positioned Kentucky atop the South Central region, and third nationally, for qualifying projects per capita. The commonwealth also placed seventh overall in total projects, the highest of any state with a population under 5 million.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) last month 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 $900,000 and annual targets of:
- Creation and maintenance of 104 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $18.55 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, OnPoint can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
For more information on OnPoint Warranty Solutions, visit OnPointWarranty.com.
A detailed community profile for Jefferson County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at www.CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor’s official social media accounts Facebook, Twitter and YouTube.