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Preston Farms Popcorn Opens Louisville, Kentucky, Plant Creating 51 Jobs.

06/19/2012
A manufacturer of microwaveable popcorn, Preston Farms Popcorn, invested $1.1 million in a 22,000-square-foot production plant in Louisville, Kentucky, creating 51 jobs in the Commonwealth.

Employees at the plant, located at 1000 Zane Street in Louisville, pack and sell microwaveable popcorn to private labels and for promotional purposes.

"We prioritize our economic development efforts into business sectors, where we think we are or can be best in the world, and today's announcement and our work in the food and beverage cluster is proving Louisville to be the place to be," said Louisville Mayor Greg Fischer.

"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."

To encourage the investment and job growth in Louisville, the Kentucky Economic Development Finance Authority approved Preston Farms Popcorn for tax incentives up to $250,000 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. "

"Food and beverage innovation is a rapidly growing strength for our region as a whole, and West Louisville in particular," said Eileen Pickett, executive vice president of Greater Louisville Inc. "Welcoming a strong exporter like Preston Farms Popcorn into this cluster is an exciting development."

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