Heaven Hill Distilleries will invest $9.5 million in Louisville's historic district with the opening a multi-million dollar artisanal distillery and attraction dubbed "The Evan Williams Bourbon Experience," along what historically is known as "Whiskey Row" on West Main Street.
"We at Heaven Hill Distilleries are pleased to announce this exciting new initiative for Louisville, for the Commonwealth of Kentucky, and for our Evan Williams Bourbon brand," said Heaven Hill Executive Vice President Harry J. Shapira.
He added it brings together an important new manufacturing and distillation facility, economic development, and tourism. It will also spotlight the history of Whiskey Row and Evan Williams as an important Louisville figure and early distiller."
"This is an exciting time for the Commonwealth and Heaven Hill," said Gov. Steve Beshear. "Heaven Hill's growing presence only adds to the appeal of downtown Louisville and means new jobs for Kentucky families and a boost to our economy. The Bourbon industry is one of Kentucky's signature industries and plays a vital role in Kentucky's economic success, representing thousands of jobs and producing millions of dollars in incomes."
Headquartered in Bardstown, Ky., Heaven Hill is one of the country's oldest and largest distillers. Its current aging inventory accounts for nearly 23 percent of the world's supply of Bourbon. Evan Williams Bourbon is the second largest selling Bourbon brand in the United States and the world, a company spokesman said.
State economic development officials blended series of incentives to encourage Heaven Hill's investment and job growth in Louisville. The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $280,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved Heaven Hill for tax benefits up to $200,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
"Heaven Hill's investment in this new facility will allow our city to reap the rewards of economic growth, development and jobs," said Sen. Gerald A. Neal, of Louisville.