Inuvo®, Inc. (NYSE Amex: INUV) 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.
Inuvo today announced it would move its corporate headquarters from New York to Conway, Arkansas. Company anticipates that this will create an extra of 50 highly skilled jobs within the State over the next 4 years.
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.
Richard Howe, Inuvo chairman and chief executive officer, commented:
Inuvo is committed to building a successful and profitable Internet business. Through this move, we both improve our operating performance and partner with a state committed to creating opportunities for knowledge-based businesses.
Inuvo facilitates the purchase of hundreds of millions of dollars in product sales online annually through a combination of its marketing and technology skills.
Inuvo’s headquarters will be located in downtown Conway at 1111 Main Street.