A software development company plans to move its corporate headquarters from Atlanta to Kenner, officials announced Thursday.
4th Source Inc. focuses on information technology services for the healthcare, financial and software industries, according to a news release from Gov. Bobby Jindal’s office.
“This is a significant win for our state, bringing valuable technology expertise to Louisiana while creating exciting new career opportunities for many Louisiana families,” Jindal said in the release.
4th Source was founded in 2004 and currently has offices in Atlanta, Memphis, Denver and three cities in Mexico.
The company expects to have relocated to Kenner and begin filling jobs in the center by late 2014.
4th Source will receive a number of incentives as part of the project, including the state’s Digital Interactive Media and Software Development tax credit. That program provides a 25 percent credit on eligible expenditures and a 35 percent tax credit on Louisiana payroll expenditures. Officials with Jefferson Parish, Kenner and the Jefferson Parish Economic Development Commission worked to recruit 4th Source to the area.
“This is a truly exciting day for Jefferson Parish,” Jefferson Parish President John Young said in the release. “We would like to commend JEDCO’s efforts, along with the collaboration between state, regional and local organizations, in bringing this headquarters to the area. The attraction of 4th Source to Jefferson Parish speaks volumes about our community’s business-focused climate and vast assets. We are thrilled to welcome 4th Source to the community and look forward to a long-term partnership with this outstanding company.”
The center is expected to employ 320 people by 2018 with an average salary of $50,000. Officials estimate it will also lead to the creation of another 412 indirect jobs.