Hundreds of jobs coming to Covington, result of company merger

COVINGTON, Ky. - A debt recovery company is bringing hundreds of new jobs to Northern Kentucky, which are a result of a company merger.

The announcement of Plaza Recovery's expansion and 250 new jobs was made by Lieutenant Governor Jerry Abramson on Tuesday.

"It's a very good day for this area of the Commonwealth," said Abramson.

Covington Mayor Charles Scheper tells 9 News Plaza Recovery is the result of the merger of two companies, Covington-based ACB American and New York-based Plaza Associates.

Scheper says up to 250 new jobs will be coming to Northern Kentucky as a result of the merger. ACB American tells 9 News an additional 250 jobs will be retained at the Covington location.

Plaza Recovery also added 18,000 square feet to the ACB American building at 4351 Winston Avenue in Covington.

President and CEO Jim Kelleher says he's looking forward to doubling his workforce, and hiring positive employees.

"Folks that like coming to work, they've got a smile on their face, they want to learn new things, and they want to learn ways to provide for their families better. And those are some of the things we can bring to the table and help them with."

Plaza Recovery also added 18,000 square feet to the ACB American building at 4351 Winston Avenue in Covington.

Scheper says the company expansion follows his 'courage plus vision equals growth' plan.

"What we're going to do is to take the revenues from new business that are locating, or new jobs in this case that have incentives, to help reduce the payroll tax. We're going to use those revenues to buy down the rate for the existing businesses. So this is a win-win for the company, for all other businesses in Covington because it will help make us more competitive going forward," said Scheper.

Plaza Recovery also qualified for tax incentives from the state, equaling up to $1.2 million dollars over ten years. They'll earn that money by meeting job and investment targets.

To apply for one of the open positions, visit the Plaza Recovery website .