U.S. Bank and Pinkerton Tobacco are adding jobs and investing in the state of Kentucky.
U.S. Bank Home Mortgage's Servicing Center in Owensboro will create 500 jobs and invest $14.1 million in an expansion. The company will begin hiring in spring 2011. It currently employs more than 1,100 people in Owensboro.
Pinkerton Tobacco will invest $3.7 million in its existing Owensboro facility and retain 296 jobs. The company produces smokeless tobacco under the Red Man, Timber Wolf, Longhorn, and Renegades brands.
"The reinvestment underscores our ongoing commitment to the Owensboro community and the state of Kentucky," said Richard Woodham, vice president of operations for Pinkerton. "It also supports the goal of Pinkerton Tobacco to have one of the most modern and efficient manufacturing facilities in the United States."
The Kentucky Economic Development Finance Authority has preliminary approved U.S. Bank for up to $4.37 million in tax incentives through the Kentucky Business Investment program. It has also been approved for tax benefits up to $130,000 through the Kentucky Enterprise Initiative Act.
The Finance Authority has also preliminarily approved Pinkerton for tax incentives up to $1.85 million through the Kentucky Reinvestment Act.