NanoRANCH to move headquarters to Lexington
LEXINGTON, Ky. (WTVQ)- The state says the company nanoRANCH is moving its headquarters from Texas to Lexington. It says the business will invest $700,000 and create 35 jobs in Kentucky.
NanoRANCH is a parent company of a group of nanotechnology businesses. The state says, “Company President Nalin Kumar attributes his decision to relocate nanoRANCH – and its primary company, UHV Technologies Inc. – to Lexington in large part to Kentucky’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds program. The grant program, begun in 2006, provides qualifying companies a match of up to 100 percent of federal SBIR/STTR awards they receive.”
Mayor Jim Gray says, “Lexington’s quality of life and highly educated workforce are attracting good jobs and expanding our technology sector…We focus on creating new jobs every day. It shows in our unemployment rate, which has been cut by more than half since 2011.”
NanoRANCH hopes to have its new headquarters in operation by February. The company says it will start filling positions at the end of this month.