FRANKFORT Ky. – One of Kentucky’s largest privately-owned companies has decided to expand its presence in the Commonwealth. Governor Steve Beshear and Louisville Mayor Greg Fischer today announced Thorntons is expanding its headquarters in Louisville with a move to a larger facility.
Thorntons, a growing convenience chain retailer that provides fresh foods, high-quality beverages and fuel, will create 110 jobs and invest nearly $27.8 million into the project.
“The decision from Thorntons to expand in Louisville is great news for both the city and the Commonwealth,” said Gov. Beshear. “When a company that has called Kentucky home for more than 40 years decides to remain here for a major expansion, it shows that we have established a successful partnership. We look forward to continued work with this rapidly growing Kentucky company.”
Thorntons will be relocating from its current 46,000-square-foot facility to a new 92,500-square-foot store support center on Old Henry Road with construction expected to begin later this year. Due to company growth, Thorntons made the decision to expand to operate more efficiently.
Thorntons was established in 1971, and has since grown to include 182 convenience stores in six states. It is a family-owned, privately-held company based in Louisville.
“We are proud to call Louisville our hometown and we’re excited about expanding our Store Support Center in Louisville,” said Matt Thornton, chief executive officer of Thorntons. “The Louisville community has been very good to us over the years and we couldn’t think of a better place from which to grow our business.”
o encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $2 million 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.
Additionally, Thorntons was approved by KEDFA for $600,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA 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.
Thorntons is also eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.
For more information on Thorntons, visit www.thorntonsinc.com.
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