PRINCETON - Kentucky is getting over 80 new jobs thanks to a meat processing facility in Princeton. 

Governor Andy Beshear today announced Porter Road Butcher Meat Co. LLC, a meat processor based in Princeton, plans to relocate and expand within Caldwell County with a more than $1.5 million investment expected to create 83 full-time jobs.

"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."

Facing heightened demand, Porter Road is expected to relocate to two buildings encompassing 35,000 square feet of space on Masonic Drive in Princeton to increase capacity. The move would be a substantial increase from its current 7,000-square-foot facility. 

The project would provide Porter Road with a larger cutting room and expanded packaging and shipping capabilities. The company plans to complete the move to the new location by the end of 2020.

The 83 projected jobs would include different wage levels and primarily consist of production staff, such as butchers and packaging and shipping positions. An increase in administrative and management, as well as maintenance roles is also expected. Currently, Porter Road employs 31 people in Caldwell County.

"Our business is built on strong relationships with our partners, customers and community," Chris Carter, the co-founder of Porter Road, said. "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."

Porter Road's expansion contributes to Kentucky's already strong food and beverage industry, as the state is home to more than 350 food and beverage facilities, which employ over 52,000 people.

Princeton Mayor Dakota Young said Porter Road has been a great company to work with in the years since locating in the area.

"James and Chris and the rest of the crew at Porter Road have been incredible to work with. Their passion for our community is palpable," Mayor Young said. "They have a broad and dynamic vision for the future of their company, and thankfully, Princeton figures prominently in those plans. This project will bring a significant number of good, well-paying job opportunities to our citizens, and demonstrates the resiliency and attractiveness of our local economy and Princeton's small but important role in the resurgence of our regional, state and national economy from the depths of the COVID-19 crisis."

To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily  approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $750,000 in tax incentives based on the company's investment of $1.51 million and annual target to create and maintain 83 Kentucky-resident, full-time jobs across 10 years. They are also hoping to pay an average hourly wage of $19.46 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, Porter Road can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.