LOUISVILLE, Ky. (WDRB) -- UPS will pour nearly $310 million into an expansion of its ground shipping hub in Louisville, a move that will nearly double the facility's capacity to sort packages.

The company will get up to $1.75 million in sales tax rebates from the state on equipment and other costs associated with expanding its Centennial Ground Hub, which is near UPS' Worldport global air hub at Louisville International Airport. 

The incentives were approved Thursday morning by the Kentucky Economic Development Finance Agency, a state board.

UPS will also add "as many as 300 new full- and part-time jobs" at the expanded ground hub, according to a news release from Gov. Steve Beshear and Louisville Mayor Greg Fischer.

However, the state incentives are tied to UPS' capital investment in the facility and do not require the company to add jobs.

Construction will begin in 2016 and is expected to finish by 2019, according to the news release.

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