Grand opening of Genscape could benefit small businesses in Old - WDRB 41 Louisville News

Grand opening of Genscape could benefit small businesses in Old Louisville

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LOUISVILLE, Ky. (WDRB) -- A Louisville business is making a move that could change the landscape of Old Louisville.

On Thursday, Genscape celebrated its grand opening. The move is part of an expansion that is expected to benefit businesses along Garvin and in other parts of Old Louisville.

"Absolutely a great addition to the neighborhood," said Daniel Borsh, Old Louisville Business Owner.

You could say Borsh has a good problem on his hands.

He is co-owner of three restaurants in Old Louisville. That includes Toonerville Deli at the corner of First Street and Oak Street. The addition of a new neighboring business gives him more potential mouths to feed.

"They've already started visiting us quite frequently, we're excited to have 'em in the neighborhood," said Borsh.

Genscape monitors natural resources for companies across the country.

"We have a policy at Genscape which is local businesses first," said Matthew Burkley, Genscape CEO.

On Thursday, Genscape celebrated its grand opening on Garvin Place in Old Louisville.

Burkely said, "We are bringing a payroll of about $10 million to the neighborhood."

Burkley said that payroll will eventually translate into 200 employees, working and eating lunch in Old Louisville.

"We probably spend about $300,000 to $500,000 on lunches, accommodations and and stuff like that, that we also hope to bring to this part of the community."

Burkley said Genscape does most of its business with out-of-town companies, but is being a good neighbor by renovating an old, once-dilapidated building.

Burkley said, "These are architectural treasures that shouldn't be dilapidated, they should be renovated and used for new uses -- and that's what we've tried to do here."

And the company has also declined tax incentives.

"We would rather pay the taxes and have more investment in infrastructure and schools and education to help drive the quality of life and the quality of the business environment here in Kentucky," said Burkley.

Daniel Borsh said, he couldn't ask for a better neighbor.

"I do truly believe Genscape and the city moving their offices into Old Louisville is going to be a catalytic changer for the neighborhood."

Genscape will initially start out with about 90 employees and eventually grow to more than 200 over the next few years.

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