Hercules Manufacturing Company To Expand Its Plant In Henderson, Kentucky
To encourage the investment and job growth in Henderson County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $180,000 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.
Hercules 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.
“These incentives from Kentucky will help us to facilitate the purchase of a new Enterprise Resource Planning system, which will provide us with an integrated view of our core business processes in real time, enhancing our ability to support the sustained growth of our company moving forward,” said Hercules CEO/Owner Jeffrey A. Caddick. “We appreciate the support of local and state development officials and other entities in expanding our operations and growing our workforce in Henderson.”
“Hercules Manufacturing is flexing its muscles in western Kentucky by adding more than a dozen new jobs,” said Governor Steve Beshear. “Manufacturing drives our economy, and investments like this are one of the reasons Kentucky is at the forefront of the industry.”
Hercules started in Evansville, Indiana, in 1902 and relocated to Henderson in 1957. The company manufactures insulated and dry freight van bodies and trailers, which are sold to customers throughout the eastern and central U.S. The company’s products serve a variety of industries, including ice cream, meat, food service, ice, pipe relining, appliances, commercial dishwashing and laundry services and document destruction.
“Hercules Manufacturing has had a longtime presence in Henderson County,” said Henderson County Judge-Executive Hugh McCormick. “From the initial construction of buggies which were built in Evansville to the van bodies currently manufactured here in Henderson, Hercules has invested thousands of dollars and diversified their business in order to remain a viable employer and provide the services and equipment required in an ever-changing economic environment. We are extremely proud to have Hercules Manufacturing as an industrial partner in Henderson County.”
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