Holley Performance Products will be hiring more than 130 people in the coming years.

This news comes after the Kentucky Economic Development office announced the company had been given preliminary approval to receive $3 million in tax credits for an almost $8 million expansion plan.

President Tom Tomlinson says he's happy to see the plant moving up after a rough recession.

"The economic recession in 2008 and 2009 was very difficult, it was hard for a lot of company's, Holley had a capital structure as a result of the previous owners that really didn't work through the recession but we've worked through that now, since about 2009 we've seen steady improvement," says Tomlinson.

There's no word yet on when the hiring process will begin.