Kentucky Bourbon continues its boom. The commonwealth experienced record production and investments making it another landmark year of growth for its signature bourbon industry. 2022 also marks the fourth consecutive year, that Kentucky Distillers have filled over 2,000,000 million barrels adding to the total of 11.4 million barrels, a new record, now patiently aging in rickhouses.
Over $2.1 billion dollars in new investments have been announced for that will create more than 700 new jobs for Kentucky residents contributing to the boom. Part of these investments include Buffalo Trace Distillery parent company; Sazerac Co. that has announced a $600 million dollar expansion making it the largest spirits-related investment in state history.
Additionally, James B. Beam Distilling Co. parent company, Beam Suntory Inc. will be investing over $400 million at the Booker Noe Distillery in Clermont, Kentucky. While Pernod Ricard USA also announced an investment of $250 million dollars to create a fully carbon neutral distillery that will host Jefferson’s Bourbon.
This past June, Heaven Hill Distillery broke ground on a $135 million project that will return the company’s distilling operations back to Bardstown for the first time since the 1996 fire that resulted in a total loss of the previous distillery. Another Bardstown native, Willett Distillery will also be investing $93 million to establish a new location in Washington County.
Eric Gregory, president of the Kentucky Distillers’ Association, applauded the bourbon industry’s growth.
“These investments, new jobs and the tourism they will bring are pivotal in Kentucky retaining its crown as the one, true and authentic home of bourbon,” Gregory said.
Kentucky’s bourbon industry extends well beyond distilling and warehousing as the state also saw significant investment in the ecosystem around bourbon production, which includes operations such as cooperages, bottling, packaging and distribution.
Bluegrass Bottling announced a $6.25 million investment in the Lancaster area. The Kentucky-based, woman-owned business, services include blending, proofing, brand development, labeling, private labeling, specialized packaging and designing of spirits brands. This investment will be used to construct a new bottling facility that will operate under the name Poor Ridge Distillery.
Another company building on the ecosystem surrounding bourbon production is Pegasus Industries in Shelbyville. In March, the company announced the expansion of its headquarters, investing $738,000 and creating 26 new full-time jobs. The project is including new technology, machinery, shipping docks, equipment and systems to help process more orders and assist with specialized packaging and promotional items.
Kentucky Cooperage, a subsidiary of Independent Stave Company, announced an expansion with a $4.1 million investment at its used barrel operation in Marion County. The project will create up to 20 full-time positions and contribute to the wide range of barrel and oak products available to distilleries in Kentucky.
Kentucky Craft distilleries are also experiencing a boom of their own as the KDA announced new Kentucky Bourbon Craft Members.
All Nations Distillery located in Garrard County, Pensive Distilling Co. in Newport, Kentucky and Fresh Bourbon Distillery of Lexington, Kentucky have been announced to join the Kentucky Distillers Associations as Craft-level members that are currently aging less than 10,000 barrels a year. The distilleries now are also eligible to apply to join the KDA’s Kentucky Bourbon Trail Craft Tour that showcases the artisan distilling movement.
Tourism and The Kentucky Bourbon Trail Craft Tour, highlighting Kentucky Bourbon Craft Distilleries is celebrating its 10th anniversary and is also experiencing growth as Whiskey Thief Distilling Co. in Franklin County joins the trail as its 24th stop earlier this year.
Bourbon is indeed booming, and we can’t be more excited to see what’s next. Happy holidays & cheers to you and yours!
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