Thorntons Inc., the Louisville-based gasoline and convenience chain retailer, intends to expand its Louisville headquarters and add 110 jobs over a 10-year period.
The company was preliminarily approved Thursday for up to $2 million in state tax incentives by the Kentucky Economic Development Finance Authority during its monthly meeting.
The incentives would be provided through the authority’s Kentucky Business Investment program, a performance-based program that allows a company to keep a portion of its investment if it meets hiring goals.
Thorntons also received approval for another $600,000 worth of incentives through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky taxes levied on equipment spending.
According to the company’s KEDFA filing, it plans to invest $27.8 million to expand its corporate headquarters on Linn Station Road in the Plainview area.
A news release about the project said Thorntons will move from its current 46,000-square-foot facility to a 92,500-square-foot store support center on Old Henry Road. Construction is slated to begin later this year.
“We are proud to call Louisville our hometown and we’re excited about expanding our Store Support Center in Louisville,” CEO Matt Thornton said in the release.
“The Louisville community has been very good to us over the years, and we couldn’t think of a better place from which to grow our business.”
The company’s KEDFA filing shows plans to invest $6 million on land, $19.8 million on a facility and building improvements, $560,000 in equipment and $482,000 in other startup costs.
“Due to the company’s growth, it is no longer operating efficiently out of its current space and is evaluating alternative real estate options for the proposed expansion of its headquarters,” the filing said.
The filing said Thorntons will create 28 new jobs in the first year after the expansion and a total of 46 jobs by year two. That number would grow annually until the 110-job goal was reached.
The new jobs are expected to pay an average hourly wage of $40 including employee benefits, according to the filing.