Bespoken Spirits Relocates-Plans Lexington, Kentucky, Headquarters-Production Operations
The investment will include building improvements, equipment, start-up costs and other related expenses. The relocation will enable the company to move up in the supply chain to include distillation, completing the characterization and recipe catalog from grain to glass.
“Rather than putting spirit into a barrel and waiting passively for nature take its course, we instill the barrel into the spirit, actively and precisely controlling the process to deliver premium quality tailored spirits full of nuance and flavor,” said Scott Savage, vice president of research, development and production at Bespoken Spirits. “As a born-and-raised Kentuckian and engineer, I am thrilled at the opportunity to bring this company to my home, enabling faster growth with significant cost advantages.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $500,000 in tax incentives based on the company’s investment of $3.2 million and annual targets of; creation and maintenance of 16 Kentucky-resident, full-time jobs across 10 years; and paying an average hourly wage of $70.77 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
“The relocation of Bespoken Spirits’ headquarters and manufacturing operations to Kentucky adds momentum to the state’s always growing signature bourbon industry,” noted Governor Andy Beshear. “Bespoken is a welcome addition to the Lexington community and will continue to solidify Kentucky as the world’s leading producer of bourbon. I want to thank company leaders for their vision to grow in Kentucky and look forward to seeing their success here in the commonwealth.”
In addition, Bespoken Spirits can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
“With whiskey production dating back to the earliest days of our community, Lexington offers a robust distilling network that provides strategic advantages in supply chain, workforce and partnerships,” added Commerce Lexington CEO Bob Quick. “We applaud their commitment to sustainability and their innovative approach to aging whiskey. It is an honor to welcome Bespoken Spirits to Lexington, the heart of bourbon country.”
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