Company Expanding, relocating operations to UK Coldstream Research Campus
Gov. Fletcher and other dignitaries break ground
for Exstream Software's new world headquarters
on UK's Coldstream Research Campus.
Gov. Fletcher addresses attendees at the
groundbreaking of Exstream Software's new world
On July 27, Gov. Ernie Fletcher helped break ground on the future headquarters of one of the world’s fastest-growing technology companies. Exstream Software Inc., which develops, sells and supports enterprise document creation software for Fortune 1000 companies around the world, has expanded its operations and is relocating to the University of Kentucky's Coldstream Research Campus to accommodate its growth.
“The focus of my administration has been creating economic opportunities that result in higher quality, well-paying jobs for the citizens of the commonwealth,” said Gov. Fletcher. “Exstream Software’s tremendous growth and success in Lexington demonstrates central Kentucky's ability to provide the quality of life that attracts a highly skilled workforce for high-tech companies. This beautiful setting at UK's Coldstream Research Campus further emphasizes the critical role that education plays in building our future economy."
The privately held company expects to move 150 Lexington-based employees to the new three-story corporate headquarters building in Coldstream next year. The company has added 48 new jobs (26 in Lexington) since December 2005 and expects to continue that pace for the next few years.
“The campus environment at Coldstream is ideal for our world headquarters,” said Davis Marksbury, president and CEO of Exstream Software. “We are a rapidly growing company with an exceptionally talented employee pool and customers in 22 countries around the world. Our goal is to provide a world-class environment for our customers and Lexington-based employees, which will number around 250 in a few years. Our company will add an estimated $40-$50 million a year in economic impact to the Lexington area. As a Lexington native and UK alumnus, I am thrilled that we can make this commitment.”
Exstream markets its industry-leading enterprise document personalization software, Dialogue™, to companies around the world in the financial services, banking, insurance, health care, utilities, telecommunications, hospitality, retail, government and other industries. The company has more than 400 customers, including such well-respected enterprises as Merrill Lynch, AT&T, Fidelity Investments, Aflac, FedEx, HSBC, Allstate, Humana, State of New York, Carnival Cruise Lines and many others. Ranked among the world’s fastest-growing technology companies, Exstream continues to expand international operations, with direct sales and services offices in the United States, the United Kingdom, France, Germany, the Czech Republic, Norway and Australia.
“Exstream Software is the type of company that a top 20 public research university needs at its research campus,” said UK President Lee T. Todd Jr. “I am pleased UK was able to partner with the Cabinet for Economic Development, Lexington-Fayette Urban County Government and Commerce Lexington to make sure one of the region’s most innovative, entrepreneurial companies remained in the Bluegrass. Exstream Software is a tremendous Kentucky success story. Led by CEO and UK alumnus Davis Marksbury and Exstream co-founder and chief technology officer Dan Kloiber, Exstream is precisely the type of company that will succeed in the global, 21st century marketplace.”
Coldstream is currently home to 35 tenants with 815 employees. Corporate tenants include IBM, IDEXX Veterinary Services and Lexel Imaging Systems. UK research centers at Coldstream include the Livestock Disease Diagnostic Center, the Center for Aluminum Technology, the Interdisciplinary Human Development Institute and the College of Pharmacy’s $17 million Center for Pharmaceutical Science and Technology.
“Exstream Software is a welcome addition to the Coldstream Research Campus. Having a company with Exstream’s international reputation will help attract other companies to Coldstream and to Lexington,” said Lexington Mayor Teresa Isaac.
“This is another of those fascinating success stories of a ‘home-grown’ entrepreneurial company that’s having worldwide impact. Businesses like Exstream Software energize the local knowledge-based economy by offering exciting, high-paying jobs and often fostering other high-tech spin-offs,” said Commerce Lexington Inc. President and CEO Bob Quick.
The Kentucky Economic Development Finance Authority preliminarily approved Exstream Software for tax benefits up to $2,242,900 under the Kentucky Jobs Development Act (KJDA), a tax incentive program designed to increase service and technology-related employment in the commonwealth.
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 2005 totaled more than $1.6 billion with the creation of over 16,700 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.