CALDWELL COUNTY, Ky. – A $1.5 million investment and 83 full-time jobs are headed to Caldwell County.
Based in Princeton, Porter Road Butcher Co. LLC plans to relocate and expand within Caldwell County, announced Gov. Andy Beshear (D).
“I want to congratulate and thank Porter Road for this commitment to Kentucky and our strong workforce,” Beshear said. “As we look to reestablish and strengthen our economy, existing businesses like Porter Road will play a critical role in our success. I anticipate plenty more to come for the commonwealth in the months and years ahead.”
Porter Road is expected to relocate to two buildings with 35,000 square feet of space on Princeton's Masonic Drive. Currently, the company is operating out of a 7,000-square-foot facility.
The new facility will give Porter Road expanded cutting room and packaging and shipping capabilities. The move is expected to be finished by the end of 2020.
The 83 jobs would be of all wage levels but primarily consist of production staff, like butchers and packaging and shipping positions. The company, which currently employs 31 people, also expects to increase its administrative, management and maintenance roles.
“Our business is built on strong relationships with our partners, customers and community,” said Chris Carter, co-founder of Porter Road. “It was relationships that brought us to Princeton six years ago, and relationships that have encouraged us to deepen our roots and expand. We count ourselves fortunate to be working with a proactive team of economic developers including Princeton's elected officials and the Lake Barkley Partnership to meet our needs during this exciting time of growth. We are excited to bring more jobs to the community and continue the success of Porter Road and Princeton for years to come.”
Carter and James Peisker founded Porter Road in 2010 after previously working together as chefs. In 2014, Porter Road Butcher Meat Co. was established as the company expanded to include the Princeton processing facility. The company went online in 2017 and began serving customers nationwide with products processed and shipped from its Princeton facility.
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. Based on the company's investment of $1.51 million, the performance-based agreement may provide up to $750,000 in tax incentives with annual targets of:
- Creating and maintaining 83 Kentucky-resident, full-time jobs across 10 years
- Paying an average hourly wage of $19.46 including benefits for those jobs
If Porter Road meets those targets, it can be eligible to keep a portion of the new tax revenue it generates. It can also claim eligible incentives against its income tax liability and/or wave assessments.