Kentucky State Seal

 

*OFFICE OF GOVERNOR ANDY BESHEAR*

*COMMONWEALTH OF KENTUCKY*








*FOR IMMEDIATE RELEASE*




*Contact:* 

*Crystal Staley*
*502-545-3714*

*Brandon Mattingly
502-782-2006*






***********************G*ov. Beshear: Cornbread Hemp To Expand Manufacturing Operation in Louisville With $1 Million Investment Creating 50 Quality Jobs************************

"""""""""""""""""""""""""""""""""C"ompany produces organic hemp products sourced from Kentucky-grown hemp flowers""""""""""""""""""""""""""""""""""

*FRANKFORT, Ky. (Feb. 27, 2025) *– Today, Gov. Andy Beshear highlighted exciting news within the state’s manufacturing and agritech sectors as Cornbread Hemp, a producer of full-spectrum organic hemp products, will expand its Louisville operation with a $1 million investment, creating 50 full-time, Kentucky jobs.

“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,” said* Gov. Beshear*. “I want to thank the leadership of Cornbread Hemp for their commitment to quality and belief in all that the commonwealth has to offer.”

The expansion will allow the company to increase its presence in the Kentucky manufacturing community, while continuing to meet the needs of its growing customer base. Cornbread Hemp will create 50 new jobs with the project, including production, fulfillment and sales positions, bringing the company’s total Kentucky employment to over 100.

“We are absolutely thrilled to receive these tax incentives from Team Kentucky,” said *Cornbread Hemp co-founder and CEO Eric Zipperle*. “This support reinforces the commonwealth’s commitment to fostering innovation and also allows us to accelerate our growth and continue creating meaningful jobs. As a startup, these incentives are crucial to helping us scale and bring our vision to life.”

“As a growing company, we are excited to contribute to the commonwealth’s thriving business ecosystem and look forward to the positive impact this partnership will have on our community, our farming partners in Kentucky and our customers nationwide,” said *Jim Higdon, Cornbread Hemp co-founder and chief communications officer*.

Founded in 2018 by cousins Zipperle and Higdon, Cornbread Hemp produces full-spectrum organic CBD products sourced exclusively from Kentucky-grown hemp flowers. These products include CBD gummies, oils, capsules, creams and balms. Cornbread Hemp is the maker of the first-ever USDA-certified organic CBD gummies, the only USDA-certified organic THC gummies and soon-to-be-released hemp THC beverages. The company is committed to producing high-quality, full spectrum hemp products for its customers.

“We are excited to see a Louisville-based company continue to grow and expand its presence in our city,” said *Louisville Mayor Craig Greenberg*. “Last year, companies committed to adding almost 4,600 new jobs in Louisville – the most in a single year since 2017. Through the creation of the Louisville Economic Development Alliance and the hiring of new CEO Trevor Pawl, we are expecting to continue our positive job creation momentum in 2025.”

*Sarah Davasher-Wisdom, president and CEO of Greater Louisville Inc.*, welcomed the company’s growth and job creation: “I am thrilled to see Cornbread Hemp, a GLI investor and Greater Louisville company, expand its operations in our region. This announcement is a testament to our strong business environment and successful collaboration between the private sector, GLI and our partner in economic development, LEDA, in helping existing businesses grow in Greater Louisville.”

Cornbread Hemp’s investment and job creation build on the best five-year period for economic growth in state history.

Since the beginning of his administration, Gov. Beshear has announced more than 1,100 private-sector new-location and expansion projects totaling over $35 billion in announced investments, creating more than 60,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $14 billion more than the next highest total.

The robust job creation has been accompanied by rising wages across the commonwealth. Since 2022, the average incentivized hourly wage has topped $26 in three consecutive years for the first time.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park [ [link removed] ] in Hardin County; AESC [ [link removed] ]’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota [ [link removed] ]’s $1.3 billion investment in Scott County; and Shelbyville Battery Manufacturing [ [link removed] ]’s $712 million investment, creating 1,572 jobs in Shelby County, among others.

The Governor’s administration also secured [ [link removed] ] the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

Kentucky also secured rating increases from major credit rating agencies Fitch Ratings [ [link removed] ], S&P Global Ratings [ [link removed] ] and Moody’s Investors Service [ [link removed] ].

Last March, Site Selection magazine ranked [ [link removed] ] Kentucky third nationally and first in the South Central region for economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed [ [link removed] ] Kentucky second in the South Central region and in the top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.

Gov. Beshear announced a Supply Kentucky [ [link removed] ] initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies. The Governor also announced [ [link removed] ] a new initiative, called New Kentucky Home [ [link removed] ], to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $700,000 in tax incentives based on the company’s investment of $1 million and annual targets of:


* Creation and maintenance of 50 Kentucky-resident, full-time jobs across 10 years; and
* Paying an average hourly wage of $26.56, including benefits, across those jobs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.

In addition, Cornbread Hemp can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

For more information on Cornbread Hemp, visit cornbreadhemp.com [ [link removed] ].

A detailed community profile for Jefferson County can be viewed here [ [link removed] ].

Information on Kentucky’s economic development efforts and programs is available at "CED.ky.gov" [ [link removed] ]. Fans of the Cabinet for Economic Development can also join the discussion at "facebook.com/CEDkygov" [ [link removed] ]", on Twitter ""@CEDkygov" [ [link removed] ]", Instagram ""@CEDkygov" [ [link removed] ]" and ""LinkedIn" [ [link removed] ].

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