LOUISVILLE, Ky. (WHAS11) -- Two new businesses are investing in Louisville and bringing more than 60 new jobs with them.
Mayor Greg Fischer announced Preston Farms Popcorn and The Curehouse will begin operations in Louisville, creating a total of 61 jobs and investing more than $5.3 million in the Commonwealth.
"Preston Farms Popcorn and The Curehouse are two examples of the success Kentucky is experiencing in the food and beverage industry," Gov. Beshear said. "These are both companies that put a lot of pride into the products they create, and we are proud to have them in the Commonwealth, with Kentucky workers at the heart of their success."
Preston Farms Popcorn will be operating out of a 22,000 square foot facility in Louisville to pack and sell microwaveable popcorn to private labels. The business will create 51 jobs and invest $1.1 million as a result of its location.
"Since moving to Louisville, many of our customers and vendors have stopped by to see what we are doing," Kermit Highfield, president of Preston Farms Popcorn, said. "Upon touring our new facility, each of these companies has worked hard to be a partner in our future. Now, it will be fun to show both our leaders and our neighbors the clear opportunity available in our new home."
The Curehouse has a 46,500-square-foot facility to process meats from specialty bred and fed animals. The company will create 10 jobs and invest $4.2 million as a result of its location, but the curemaster there said they are expecting to eventually hire up to 35 people.
"My business partner, Nic Heckett, and I looked at a number of places across Kentucky, Virginia and West Virginia to locate The Curehouse and are extremely happy in choosing Louisville," Jay Denham, curemaster of The Curehouse, said. "With the help of tax incentives, access to small family farms to rear superior quality pastured animals and the rich food culture in Louisville, this area is a great fit. I look forward to utilizing these and many other assets available locally to create a phenomenal product here in Kentucky at The Curehouse."
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Preston Farms Popcorn for tax incentives up to $250,000 and The Curehouse for up to $100,000 through the Kentucky Business Investment program.
The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved The Curehouse for tax benefits up to $90,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
For more information on Preston Farms Popcorn, visit www.prestonfarms.com.
The Curehouse website is under construction at www.woodlandspork.com.
Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com.