Augusta Distillery was awarded state incentives this week as it embarks on a $23 million investment expected to create 14 jobs at its Bracken County site.
“It is never an accident when a company decides to grow their operations within Kentucky,” said Gov. Andy Beshear, in an announcement. “It is a testament to the Kentuckians who help make this state what it is – an increasingly attractive option for businesses to thrive within a surging economy. The continued momentum of the bourbon and spirits industry in the commonwealth is because of support from companies such as Augusta Distillery. I want to thank everyone involved in this project and welcome Augusta Distillery’s growth in Kentucky.”
Augusta Distillery’s first full-scale operation will locate in an existing 40,000-square-foot building that was formerly home to the F.A. Neider Co., founded in 1883 and closed in 2007.
Company leaders anticipate construction will begin on the 1.8-acre site this summer with the facility operational by summer 2024.
“The Augusta Distillery team is proud of our plan to build a state-of-the-art facility in Augusta,” said Judd Weis, co-founder and board vice chairman of Augusta Distillery. “Over the next few years, we will be committing over $23 million to create an extraordinary distillery, guest experience and event center. Our hope is that, by delighting our consumers, this investment will create a spike in local tourism and additional economic opportunity for our neighbors in Augusta and Bracken County. We would like to thank the Commonwealth of Kentucky, City of Augusta and Bracken County for providing the support necessary to make this project a reality. This is a very exciting time for our team and our neighbors.”
Headquartered in Augusta, Augusta Distillery was founded in July 2018 and is focused on creating bourbon-centric experiences in that Bracken Co. city and across the United States. The company’s initial brand, Buckner’s 13-year single barrel cask strength bourbon, is distributed nationally and is available at retail in Kentucky and Ohio. Recently added as a craft member of the Kentucky Distillers’ Association, Augusta Distillery is planning its next release for later in 2022.
The bourbon and spirits industry remains one of Kentucky’s most prominent sectors, the announcement said. Roughly 60 spirits facilities employ more than 5,300 people. Since the start of 2020, Kentucky’s spirits industry has seen more than 40 new-location or expansion announcements with over $698 million in planned investments and approximately 600 announced full-time jobs.
State Rep. William Lawerence (R-Maysville) noted the importance of growing companies like Augusta Distillery in Kentucky.
“I’m thrilled by what Augusta Distillery has planned and will bring to the region,” Lawerence said in the announcement. “As a co-sponsor for HB 500, which is now state law, I know how much positive impact this distillery project will bring. I will continue to support Augusta Distillery and the people of Bracken and Mason counties.”
Bracken County Judge/Executive Tina Teegarden said she looks forward to seeing the company and community grow together.
“Economic development and building tourism within the communities of our county are vital,” said Teegarden. “We are pleased that the partners of the Augusta Distillery chose our beautiful river town, Augusta, to build and develop. I believe their growth and success will be immediate and I look forward to watching their new endeavor thrive along with all of Bracken County.”
Augusta Mayor Michael Taylor said he is thrilled with the addition of Augusta Distillery.
“Augusta’s tourism continues to grow as we emerge from the pandemic,” said Taylor. “The river, our history and quaint town center are the perfect place to spend a day or night. The Beehive Augusta Tavern on the riverbank and the newly renovated, 10-room Augusta Guest House are proof that things are happening in Augusta. We congratulate Augusta Distillery and are thrilled to have them in town!”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Augusta Distillery for up to $200,000 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.
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.
In addition, Augusta Distillery 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.
