Jackson Purchase Distillery Upgrades Fulton County, Kentucky, Bourbon Distillery
Jackson Purchase Distillery’s management group acquired an unused distilling facility established several years prior by Memphis, Tennessee-based attorney Ray Jamieson. To bolster the nearly complete distillery, the company immediately began an expansion that will involve purchasing additional land, constructing barrel storage and making various upgrades throughout the facility. Company leaders expect to complete this expansion phase by April 2022.
“We are very excited about the opportunity to start producing Kentucky bourbon in Fulton County,” said Lloyd R. Jones, president and CEO of Jackson Purchase Distillery. “We have been most fortunate to acquire the distillery and begin upgrading the facility. Support from the distillery industry and Commonwealth of Kentucky has been extremely helpful. We look forward to the start of production and hope to grow the business with a long-term plan in the years ahead.”
Once operational, the distillery will produce in excess of 25,000 barrels annually. The company will provide third-party distilling services, catering primarily to mid-size and large customers including brand-owned companies, distilleries needing additional capacity to meet demand and companies that purchase new production for future third-party sales. Jackson Purchase Distillery also plans to dedicate a segment of its business to fulfilling smaller orders from craft distillers.
“With today’s announcement, Kentucky notches yet another win for its signature bourbon industry and for our state’s post-pandemic economy,” Governor Andy Beshear said. “The outset of this development dates many years back, and I am proud that the leaders of Jackson Purchase Distillery are now taking the steps to make this venture a reality. The 30 high-quality jobs the company will create means more opportunity for the families of Fulton County and the surrounding region, adding to the commonwealth’s strong economic momentum.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in April preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1 million in tax incentives based on the company’s investment of $8.76 million and annual targets of creation and maintenance of 30 Kentucky-resident, full-time jobs across 15 years and paying an average hourly wage of $37 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. Additionally, Jackson Purchase Distillery can receive resources from the Kentucky Skills Network.
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