Company announced $26 million distilling operation expansion in October 2022
HICKMAN, Ky. (Aug. 2, 2024) – Today, Lt. Gov. Jacqueline Coleman joined local officials and leadership from Jackson Purchase Distillery LLC, a startup bourbon producer, to celebrate and cut the ribbon on a new rickhouse at the company’s distilling operation in Fulton County, a $10 million investment that adds to the company’s $26 million expansion project announced in October 2022 that is creating 54 full-time jobs.
“The commonwealth’s bourbon and spirits industry has seen historic growth in the last few years and shows no signs of slowing down,” Lt. Gov. Coleman said. “Continued support from companies like Jackson Purchase Distillery, which has tripled its original investment in this project and nearly doubled the number of quality jobs, is a testament to the workforce, resources and business-friendly environment here in Kentucky. I am excited to celebrate this next step for the company and Fulton County community and look forward to their continued success.”
The new $10 million rickhouse will store 25,000 barrels and is an important step in Jackson Purchase Distillery’s continued expansion efforts at its Fulton County operation. In May 2021, the expansion project was first announced when the company’s management group acquired an unused distilling facility. In October 2022, the project grew from an initially planned investment of $8.76 million and 30 jobs to $26 million and 54 jobs. The increased scope of the project involved purchasing additional land, making various upgrades throughout the facility and constructing a new rickhouse for barrel storage. Since the project was announced, the company has produced more than 60,000 barrels for its growing consumer base.
“We put the community at the center of everything we do,” said Hickman native and Jackson Purchase Distillery CEO Lloyd Jones. “Bourbon has been a tremendous impact for other parts of the state, and we want to have that same kind of impact here in Western Kentucky.”
Founded in 2021, Hickman-based Jackson Purchase Distillery offers contract distilling services, selling new-fill barrels of bourbon to craft brands, distillers in need of increased capacity and companies that purchase barrels for future third-party sales. With the addition of another column still, the distillery will produce 60,000 barrels in 2024. Master Distiller Craig Beam and Assistant Master Distiller Terry Ballard are crafting authentic Kentucky bourbon from locally sourced grains and calcium-rich well water.
Fulton County Judge/Executive Jim Martin noted the company’s impact on the community and existing industries: “The Fulton County Fiscal Court is pleased to have Jackson Purchase Distillery join one of our best and fastest growing industries. Our farming community benefits greatly from their demand for agriculture products. Jackson Purchase Distillery is a win-win for Fulton County as they continue to grow, employ our citizens and contribute to our economy.”
Hickman Mayor Heath Carlton highlighted the economic impact the company has brought to the area: “The presence of Jackson Purchase Distillery has been instrumental in the economic growth and development to the city of Hickman. Their contribution to our community and the surrounding areas are building a legacy that will continue for years to come.”
Hickman City Manager Jennie Overall is excited to see the company bring the thriving bourbon industry to the area: “Bourbon evokes the timeless essence of heritage and legacy. Jackson Purchase Distillery is bringing that heritage and legacy to life in Hickman, Kentucky. I can’t wait to see the story unfold.”
Mark Welch, president of the Fulton-Hickman Counties Economic Development Partnership, looks forward to the exposure the project will bring to the region: “Jackson Purchase Distillery is putting Fulton County on the map. Bourbon is quintessentially Kentuckian and enjoyed globally. We’re honored to have such a high-demand and quality product coming from Fulton County!”
Jackson Purchase Distillery’s investment and job creation build on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling nearly $32 billion in announced investments, creating nearly 55,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 and 2023 topped $26 in consecutive years for the first time.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the electric vehicle battery production capital of the United States: Ford Motor Co. and SK On’s transformative $5.8 billion, 5,000-job BlueOval SK Battery Park in Hardin County; AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Toyota’s $1.3 billion investment in Scott County; and INFAC North America’s $53 million investment in Taylor County, among others.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund, as well as the most jobs filled in state history. Last year, Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Kentucky also secured rating increases from major credit rating agencies Fitch Ratings and S&P Global Ratings, and Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central economic development projects per capita in its 2023 Governor’s Cup rankings. In April, Site Selection placed Kentucky second in the South Central region and top 10 nationally in its 2024 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
Gov. Beshear announced a “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in May 2021 preliminarily approved a 15-year incentive agreement with the company under the Kentucky Business Investment program.
For more information on Jackson Purchase Distillery, visit jacksonpurchasedistillery.com.
A detailed community profile for Fulton County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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