Murray firm will employ 68 after boost from state: TapLogic's technology uses handheld computers and software that mimics the process of farming
BYLINE: Joe Walker, The Paducah Sun, Ky.
May 1--MURRAY, Ky. -- High-tech Murray firm TapLogic is seeking about $2.1 million in public and private funds to commercialize virtual-farming pocket PC software, creating 68 jobs that pay an average of nearly $48,000 a year by Dec. 31, 2010.
The Murray State University Regional Business & Innovation Center has scheduled a press conference at 10:30 a.m. Thursday to introduce the firm, founded by Hoyt Choate and his wife, Renee. The gathering will be in the Murray Room of the Regional Special Events Center.
"It's probably the most significant technology start-up in terms of dollars raised and job creation in western Kentucky history," RBIC Director Pat Powell said. The center provides funding and expertise to help small, high-tech companies start and grow.
Although Powell did not identify the firm, the state Department of Commercialization & Innovation -- which oversees the regional innovation cen-ters -- has provided $225,000 for TapLogic through the Kentucky Enterprise Fund. The fund provides seed capital for early-stage commercialization of a product, technology or process.
Hoyt Choate was reportedly in meetings late Monday afternoon and could not be reached. He said in 2005 when he started the firm that he had a patent pending on software for use in handheld computers to process farm data in the field. The devices are waterproof, impact-resistant and operate with the tap of a finger or pen.
According to TapLogic's Web site, taplogic.com, the system is under development and "planned for release in early 2007."
Powell's center has recommended that the Kentucky Economic Development Finance Authority approve up to $500,000 in high-tech construction funding to help TapLogic expand. The money would be in the form of a forgivable loan.
Authority documents show the full-time jobs would pay a minimum average annual salary of $47,785 without factoring in benefits. TapLogic has agreed to keep the jobs at that level of pay for three years.
Total project costs would consist of about $1.6 million from the Department of Innovation & Commercialization, private investors and the Kentucky Science and Technology Corp., a Lexington seed-capital firm. The funds would help TapLogic commercialize the system by buying more computer hardware and software licenses, routers, switches, networking infrastructure, pocket PCs, communications gateways and related supplies.
"TapLogic has developed and designed its FarmN software to mimic the process of farming," according to the project description. "This practical and intuitive software is virtually nonexistent in the agricultural field."
Currently farms must use modified software instead of software "designed from the ground up for agriculture," the description says. With FarmN, a farmer programs information into a pocket PC using satellite images of his fields. TapLogic then prepares various reports on crops, yield, lending, environmental data and other topics that the grower can view online via the handheld gizmo.
The Choates are farmers who established AgForest Partners in Murray, a firm that develops hardware, software and information technology services for agriculture.
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