Statewide Mortgage, a Louisville-based mortgage lender, will build a $3.4 million corporate office in Jeffersontown and create 30 full-time jobs as it consolidates operations, Mayor Greg Fischer and Gov. Matt Bevin announced last week.
“We are thrilled that Statewide Mortgage has chosen to expand right here in Louisville, as they serve an ever-increasing number of states across the region,” said Mayor Fischer. “We’re happy that Statewide Mortgage is growing, creating new jobs and investing in our city. I look forward to seeing their continued success and growth in the years ahead.”
The planned 30,000-square-foot office building will replace the former Benihana off Linn Station Road on Lake Shore Court. The move will enable Statewide Mortgage to consolidate its Louisville sales offices and centralize its loan processing and compliance teams. The building will accommodate 30 new employees while providing space for future growth.
“From a three-person start up in 2002, Statewide Mortgage has grown to nearly 70 employees and is now building its own offices and expanding yet again,” said Gov. Bevin. “Statewide’s success through turbulent times in the housing market is a testament to their exemplary business model. We look forward to their continued growth in the years to come.”
The new building’s design will promote workflow efficiency and increase the company’s visibility along I-64 and Linn Station Road. Construction is expected to begin in November and last six to nine months. The move marks the company’s third, with previous relocations in 2005 and 2011.
“Statewide is like family to me. I love the people I work with and have such great respect for them. This is a great opportunity for us to grow and give ourselves the facilities we need,” said Keith Swisher, Statewide Mortgage president.
Swisher and his two college roommates, Lance Blincoe and Garrett Blincoe, founded Statewide Mortgage in 2002 in a little office on Dixie Highway in Louisville. In 2005, Ryan Baxter joined as a sales manager and started a first-time company growth spurt. In 2011, the company relocated to Jeffersontown and expanded its insurance services, as well as commercial and residential real estate holdings. Statewide Mortgage since grew to include 54 full-time employees across operations in four states. It provides conventional, FHA, VA, USDA, and portfolio lending. The company currently holds licenses and lends in Kentucky, Indiana, Illinois, Tennessee, Georgia, Florida and Alabama. Swisher said the firm plans to expand into Ohio and South Carolina by the end of 2016.
Jeffersontown Mayor Bill Dieruf said: “Having a company as strong as Statewide Mortgage show their lasting confidence in the market with a project as significant as adding a larger corporate headquarter presence to the continued redevelopment of the Linn Station Road corridor depicts the strength of Jeffersontown’s economy.
“As always, we are pleased to be able to partner with the Commonwealth and Metro Government to put together a package from our various entities that met the company’s needs,” Mayor Dieruf said.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.