Four Roses Bourbon to Invest $23 Million to Expand in Bullitt County
FRANKFORT, KY (STL.News) Governor Andy Beshear announced the continued growth of Kentucky’s bourbon and spirits industry as Four Roses Distillery LLC will invest over $23 million to construct new warehouses in Coxs Creek. The work is expected to be completed by 2024 and will increase bottle storage and create new job opportunities in Bullitt County.
“Kentucky’s bourbon and spirits growth continues at an incredible rate, and we welcome this major investment from Four Roses in Bullitt County,” Gov. Beshear said. “Bourbon is a signature industry in the commonwealth that is creating quality jobs across the state. I am thrilled to see Four Roses contribute to that success and look forward to seeing this project come together over the next couple of years.”
Leaders at Four Roses will build 17 warehouses totaling more than 776,000 square feet to support continued growth of the Lawrenceburg-based distillery. The investment comes in response to increased demand for the company’s bourbon throughout the United States. Four Roses currently employs 137 people in Kentucky, including 20 at an existing warehouse in Coxs Creek.
“We’re excited about the growth of Four Roses and to have the capacity to bring our Bourbon to more whiskey-lovers around the country, but we’re even more excited about the growth of Kentucky’s bourbon industry,” said Ryan Ashley, chief operating officer for Four Roses Bourbon. “We look forward to welcoming new members to the Four Roses team with this expansion who will help us continue to show that the best bourbons in the world come out of this state.”
Four Roses has roots dating back to the mid-19th century in Georgia, with the company producing bourbon in Kentucky since 1888. The distillery operated along Louisville’s Whiskey Row until eventually relocating to Lawrenceburg in the 1960s, where the company remains dedicated to producing award-winning bourbons.
Four Roses’ investment adds to recent growth in the bourbon and spirits industry across the commonwealth. Since the start of the Beshear administration, Kentucky’s spirits industry has seen more than 50 new-location or expansion announcements contribute to over $1.1 billion in planned investments and more than 900 announced full-time jobs. Today, spirits facilities employ more than 5,300 people throughout the state. Gov. Beshear also recently worked with U.S. Commerce Secretary Gina Raimondo to remove harmful bourbon tariffs on trade with the United Kingdom and European Union, ensuring continuing strength in the export market.
Bullitt County Judge/Executive Jerry Summers welcomed the company’s continued investment.
“We are excited about the growth and expansion of Four Roses Distillery,” Judge Summers said. “This project is a true asset to Bullitt County and its scenic corridor. I look forward to continued partnerships as they continue to grow within our community.”
Bob Fouts, executive director of the Bullitt County Economic Development Authority, is happy to see the company grow its presence in the region.
“We are glad to see Four Roses Distillery thrive and expand in our county and wish them continued success,” Fouts said.
Four Roses’ investment and planned job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
In 2021, the commonwealth shattered every economic development record in the books. Private-sector new-location and expansion announcements included a record $11.2 billion in total planned investment and commitments to create a record 18,000-plus full-time jobs across the coming years. Kentucky’s average incentivized hourly wage for projects statewide in 2021 was $24 before benefits, a 9.4% increase over the previous year.
In recent months, the Beshear administration announced the two largest economic development projects in state history. In September, Gov. Beshear and leaders from Ford Motor Co. and SK Innovation celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. And in April, the Governor was joined by leadership at Envision AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States.
The economic momentum has carried strongly into 2022, with both S&P Global Ratings and Fitch Ratings upgrading Kentucky’s financial outlook to positive in recognition of the commonwealth’s surging economy.
For April 2022, the state budget director reported the highest-ever monthly General Fund receipts of $1.84 billion. That is up 34.9% over last April’s collections, bringing Kentucky’s year-to-date growth rate to 16.4%.
And Site Selection magazine recently placed Kentucky at 6th in its annual Prosperity Cup rankings for 2022, which recognizes state-level economic success based on capital investments.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) approved Four Roses for up to $300,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
In addition, the company 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.