Cornbread Hemp, a company specializing in full-spectrum organic hemp products, plans to expand its Louisville operations with a $1 million investment. This move is expected to create 50 new jobs, adding to the state's growing manufacturing and agritech sectors.
Governor Andy Beshear commented on the development: “This project is generating quality jobs for the Louisville area and adds to the growing list of Kentucky companies choosing to reinvest in our communities.” The expansion aims to enhance Cornbread Hemp's presence in Kentucky while meeting increasing customer demand.
Eric Zipperle, co-founder and CEO of Cornbread Hemp, expressed appreciation for the support received from Team Kentucky. “We are absolutely thrilled to receive these tax incentives from Team Kentucky,” he said. Jim Higdon, another co-founder and chief communications officer, noted the positive impact this growth would have on various stakeholders including farming partners and customers nationwide.
Founded by cousins Zipperle and Higdon in 2018, Cornbread Hemp produces products such as CBD gummies and oils sourced exclusively from Kentucky-grown hemp flowers. Their offerings include USDA-certified organic CBD gummies and THC gummies.
Louisville Mayor Craig Greenberg welcomed the company's expansion: “We are excited to see a Louisville-based company continue to grow and expand its presence in our city.” Sarah Davasher-Wisdom of Greater Louisville Inc. also praised the announcement as evidence of a strong business environment in the region.
The investment by Cornbread Hemp aligns with Governor Beshear’s broader economic achievements since taking office. Over $35 billion has been announced for new-location and expansion projects under his administration, creating more than 60,000 jobs statewide.
To encourage further investment and job creation, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with Cornbread Hemp under the Kentucky Business Investment program. The performance-based agreement offers up to $700,000 in tax incentives contingent upon job creation targets being met over ten years.
In addition to financial incentives, Cornbread Hemp can access resources from Kentucky’s workforce service providers for recruitment services and training programs.