Three technology companies announced Thursday that they will add locations in downtown Conway, spending a total $2.5 million and creating a combined 140 new jobs.
The companies are: Metova Inc., a mobile-app development company founded in Franklin, Tenn.; Atlanta-based Big Cloud Analytics, a predictive analytics software company; and Eyenalyze, a Conway-based company that develops software for use in the food service sector, the Arkansas Economic Development Commission said in a statement.
Gov. Asa Hutchinson joined Conway officials and representatives from Metova, Big Cloud Analytics and Eyenalyze to make the announcement in downtown Conway.
John Adams, Metova's chief executive officer and a native Arkansan, said he was proud to come back to his home state and provide new jobs. Adams said the company chose Conway for the skilled workforce.
The talented workforce coming from three local colleges, as well as the experienced workforce, is what attracted Big Cloud Analytics to Conway, Chief Revenue Officer Bryan Throckmorton said.
"The thing I'm most excited about is when you look at the other two companies you're hearing from today, we have the opportunity to create network effect," Throckmorton said. "This is going to make it even more enticing for other companies to come [to Conway.]
Mike Rasmussen, president of Eyenalyze, told the crowd he plans to continue helping train the workforce in technology by bringing in interns from the University of Central Arkansas to work in his office.
Mayor Tab Townsell thanked the three companies for investing in Conway.
"It shows that you trust us as a city and product and base of employees that you chose to come here and that is a great stamp of approval to us," Townsell said. "The state of Arkansas has given us a lot and we have to give back so people in Arkansas can find a home [in Conway.]
Each of the companies will add the new positions over the “next few years,” according to the statement. Most positions will be “highly technical” in nature.
"These are the types of high-paying, technology-based jobs that will make Arkansas even more regionally competitive," Gov. Asa Hutchinson said in announcing the developments.
Metova, which has a location in Cabot, plans to invest $2.075 million and create about 60 new jobs; Big Cloud Analytics plans to invest $116,000 and hire up to 40 employees; and Eyenalyze, which is working with Metova to develop software for the restaurant industry, plans to employ 40 by 2016, the commission said.
The state provided incentives to each company, according to the Conway Chamber of Commerce.
Metova received $50,000 from the governor's quick action closing fund for renovations and upgrades for its new office space in downtown Conway. The company will also receive 3.9 percent rebate from the state of payroll associated with new jobs and sales tax refunds for purchases associated with opening a new office.
Big Cloud Analytics received $32,000 from the governor's quick action closing fund for office furnishings and network access expenses. The company will also receive a sales tax refund for office renovation purchases and one percent of the payroll for new jobs.
Eyenalyze received an equity investment tax credit that is targeted to new technology based businesses paying above the state or county average wage. The state Economic Development Commission approved the company for the tax credit based on $600,000 the company raised in January 2014.
Read Friday's Arkansas Democrat-Gazette for full details.