Why is El Toro Internet Marketing relocating to NuLu? “Explosive growth,” according to an announcement from Mayor Greg Fischer’s office.
The targeting technology company, which launched in early 2013, was confirmed last month as a primary tenant in the forthcoming Gateway to Nulu project. The rising company is projected to add 400 jobs along with an investment of $10.5 million.
El Toro, which currently employs 100, is slated to occupy 36,700 square feet on the third and fourth floors of the planned tech hub. CEO Stacy Griggs suggested the decision to stay in Louisville was an easy one.
“Louisville is a great home for El Toro,” Griggs said in a news release. “The commonwealth of Kentucky and the city of Louisville have been fantastic partners in helping us build one of the fastest-growing technology companies in the U.S.”
El Toro offers online marketing services such as advanced analytics, mobile location marketing and IP targeting. The company says its patented tools allow customers to direct marketing efforts toward a targeted audience using various methods of omnichannel delivery, from digital advertising to connected TV and electronic direct mail.
The company also provides ad technology for political advertising in the U.S. and globally.
El Toro recently requested an amendment its tax incentive agreement with the Kentucky Economic Development Finance Authority to increase the scope of its project from a $2 million renovation of its current offices on First Street to make the move to NuLu.
The original investment was set for $2.15 million with a job creation target of 60. The new tax incentive agreement would call for the increase to 400 new jobs, along with a tax incentive amount increase from $1 million to $7.5 million.
Fischer has spoken recently of focusing on Louisville’s investment into the technology business sector.
“The explosive growth of El Toro is proof that tech companies don’t need to be located on the coast to be successful and that Louisville has the talent to fill the demands of new and growing tech companies,” the mayor said in the announcement. “Through new tech programs and partnerships with major companies like Microsoft and IBM, Louisville is doing the roadwork to expand its tech talent pipeline and meet future workforce demands.”
“What El Toro has done in a relatively short amount of time is phenomenal and speaks to the innovative spirit in our commonwealth,” District 43 Rep. Charles Booker said in the news release. “These new jobs will have a major impact on our local economy and create real opportunity for many families. I’m also proud that the company is settling into the East Market District, where it will undoubtedly thrive even more. Something tells me this latest expansion won’t be its last.”