Officials with Inuvo and Arkansas on Thursday (Jan. 31) announced the company would move its corporate headquarters from New York to Conway, Ark.
The Internet marketing and technology company anticipates the “creation of 50 highly skilled jobs” in Arkansas over the next 4 years.
According to a statement from the Arkansas Economic Development Commission, Inuvo develops consumer applications that make using the Internet easier and delivers targeted advertisements onto websites owned by partners and the company. Inuvo recently announced fiscal 2012 preliminary unaudited revenues of $53.3 million dollars, up 49% from the previous year.
Working with the AEDC, Inuvo analyzed the benefits of relocation and anticipates that within six months of the move, the company would be on a run rate to improve operations by as much as $1.5 million dollars annually. Arkansas will help Inuvo move through a grant that can be used to fund relocation and equipment expenses.
“Inuvo is committed to building a successful and profitable Internet business,” said Richard Howe, Inuvo chairman and CEO. “Through this move, we both improve our operating performance and partner with a state committed to creating opportunities for knowledge-based businesses.”
Inuvo’s headquarters will be located in downtown Conway at 1111 Main St.
“Conway continues to build an attractive climate of success for knowledge-based industries,” Governor Mike Beebe said. “Between the three universities and numerous existing technology companies, Inuvo’s leaders knew they would find a hard-working, educated workforce ready to fuel the company’s continued growth.”
Inuvo facilitates the purchase of hundreds of millions of dollars in product sales online annually through a combination of its marketing and technology skills.