By Ann Marie Shambaugh
The Zionsville Town Council approved incentives March 7 that pave the way for N.K. Hurst Company, famous for its HamBeens 15 Bean Soup, to expand to Zionsville.
The company’s current headquarters are just south of Lucas Oil Stadium in a building that is more than 100 years old. It plans to build a 60,000-square-foot facility at 106th Street and Bennett Parkway in Zionsville that will be a second location for its headquarters and manufacturing and distribution operations. The company also looked at additional sites in Boone County and in Hendricks County before deciding to move to Zionsville.
The incentives approved unanimously by the council include a real property tax abatement of 50 percent for the first five years, which is estimated to save N.K. Hurst an estimated $242,327 during that time.
With the expansion, Zionsville is expected to receive an estimated $726,979 in real property tax, $118,346 in personal property tax and $95,193 in county option income tax over a 10 year period. The move is expected to bring 43 jobs to Zionsville making an average of $37.02 per hour.
“I am thrilled to welcome N.K. Hurst to the Zionsville family,” Zionsville Mayor Tim Haak said in a statement. “N. K. Hurst’s commitment to quality and family values is just one of the many reasons why they are a great fit for our community.”
N.K. Hurst Co. traces its roots back to 1938, when Needham King Hurst began distributing coffee, tea and sugar. Today, the fourth-generation family-owned company is famous for its HamBeens flavor.
“We are grateful that N. K. Hurst Company is expanding into Zionsville and Boone County,” stated Molly Whitehead, executive director of the Boone County Economic Development Corporation. “We look forward to a fruitful partnership with N. K. Hurst in the coming years.”