by Max Brantley
You might recall that a former Acxiom exec, Richard Howe, who heads Inuvo, injected himself in the Little Rock Technology Park debate recently with a letter saying his company might move to the River Market neighborhood of Little Rock if the tech park is built there.
News release follows:
CONWAY, Arkansas (January 31, 2013) — Inuvo Inc. (NYSE MKT: INUV) (the "Company" or "Inuvo"), today announced it would move its corporate headquarters from New York to Conway, Arkansas. The Internet marketing and technology company anticipates the creation of 50 highly skilled jobs within the State over the next 4 years. Senior leaders in the Company have committed personally to the move.
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 closely with the Arkansas Economic Development Commission (AEDC), Inuvo analyzed in great detail the benefits of relocation and anticipates that within 6 months of the move, the company would be on a run rate to improve operations by as much as $1.5 million dollars annually. The State will be helping 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 chief executive officer. “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 Street.
“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.
"Our community is excited to welcome not only Inuvo's investment but Inuvo associates from around the country," said Mayor Tab Townsell. "Conway has spent the last decade investing in education, quality of life and infrastructure for the very purpose of attracting talented people like the one's so critical to Inuvo's success."