US-based Bourbon distiller Saga Spirits Group has reportedly announced plans to inject a $92.5m sum into a new distillery in Kentucky.
Reports from local publication the Lexington Herald-Leader suggest the investment in Woodford County is being partially supported by the state government.
Last week, the Kentucky Tourism Development Finance Authority is said to have approved a $4.2m fund for the group in tourism tax incentives. The local government also reportedly issued Saga Spirits around $1m in incentives in 2023.
In addition to the distillery, Saga Spirits also intends to build a visitors centre, retail space, tasting room, restaurant and accommodation. The site will sit on 150 acres of land in the city of Versailles.
Some of the funds are also expected to go towards building event and accommodation space, in addition to a bar and restaurant at hotel venue Kentucky Castle, located nearby.
Once operational, the distillery and tourism project combined are expected to create 89 new jobs.
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By GlobalDataWork on the new site is expected to start in the third quarter of this year, CEO Wes Henderson said in a release viewed by Lexington Herald-Leader.
“It has been a huge blessing to be members of the Kentucky bourbon industry for many generations. To begin this next chapter for the Henderson family, we have chosen Versailles and Woodford County. We are humbled and honored by the support we are receiving from government officials, tourism development, businesses and residents,” he added.
“We are also looking forward to the groundbreaking this fall. Our team is composed of experts in distilling, distilling finance, supply chain and logistics, marketing, packaging and hospitality, with combined expertise of more than a century of success in the industry. Wonderful things are ahead for us and the entire community.”
Saga Spirits Group was established in March 2023 by Wes Henderson, founder of the now Bacardi-owned Angel’s Envy Bourbon, which was snapped up by the rum giant in 2015.
Local reports indicate Saga Spirits has applied to launch two SKUs under the brand name True Story.
