LOUISVILLE, Ky. (June 18, 2012) — Preston Farms Popcorn and The Curehouse will begin operations in Louisville, creating a total of 61 jobs and investing more than $5.3 million.
“Preston Farms Popcorn and The Curehouse are two examples of the success Kentucky is experiencing in the food and beverage industry,” said Gov. Steve Beshear. “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.”
Kentucky is home to more than 200 food and beverage-related facilities that employ more than 34,000 people. Additionally, nearly 14 percent of Kentucky’s manufacturing jobs are in the food and beverage manufacturing industry.
Preston Farms Popcorn is utilizing a 22,000-square-foot facility in Louisville to pack and sell microwaveable popcorn to private labels. The company will make customized popcorn for promotional purposes. Preston Farms Popcorn 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,” said Kermit Highfield, president of Preston Farms Popcorn. “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 acquired a 46,500-square-foot facility to process fine quality meats sourced from specialty bred and fed animals to create the highest quality products.
The company will create 10 jobs and invest $4.2 million as a result of its location.
“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,” said Jay Denham, curemaster of The Curehouse. “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.
“This is exciting for Louisville. It speaks well of our workforce that Preston Farms Popcorn and The Curehouse chose to locate their new operations here,” said Sen. Denise Harper Angel, of Louisville. “Not only will we reap the benefits of 61 new jobs, these investments will also boost local economic growth and development.”
For more information on Preston Farms Popcorn, visit www.prestonfarms.com.
The Curehouse website is under construction at www.woodlandspork.com.