Brown-Forman to Expand Woodford Reserve Distillery in Versailles, Add 15 Jobs
6/27/2013 2:21:00 PM
Bourbon manufacturer to invest more than $35 million in the Commonwealth
FRANKFORT, Ky. -- Brown-Forman Corporation (NYSE:BFA, BFB) plans to add 15 jobs and invest more than $35 million to expand operations at its Woodford Reserve Distillery in Versailles.
Kentucky produces 95 percent of the world's bourbon, and the 4.9 million barrels of aging bourbon here outnumber the state's population of 4.3 million. More than 8,600 jobs in Kentucky are connected to distillery-related enterprise, generating approximately $413 million in payroll.
The Woodford Reserve Distillery, located off McCracken Pike in Versailles, currently has 30 full-time employees. The expansion will include the addition of new bourbon maturation warehouses, new stills, improvements to the bottling line, and other upgrades designed to increase capacity, efficiency, and productivity at the facility.
"As a 142-year-old Kentucky company, Brown-Forman is proud to expand the Woodford Reserve Distillery, allowing us to meet the growing global demand for Woodford Reserve and continue to invest in our community," said Chris Morris, master distiller at Woodford Reserve.
In addition to Woodford Reserve, Brown-Forman Corporation produces numerous quality brands, including Jack Daniel's, Southern Comfort, Finlandia, Herradura, Early Times, and Old Forester. The company was founded in 1870 by George Garvin Brown in Louisville, Kentucky. Today, the company is headquartered in Louisville, Kentucky, and employs nearly 4,000 people worldwide.
To encourage the investment and job growth in Versailles, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $2.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved Brown-Forman for tax benefits up to $500,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.
For more information on Brown-Forman, visit www.brown-forman.com.
Woodford County has also been certified by the Kentucky Workforce Investment Board as a Work Ready Certified Community. The certification is an assurance to business and industry that the community is committed to providing the highly skilled workforce required in today's competitive global economy.
Information on Kentucky's economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet's "This is My Kentucky" video on YouTube.
A detailed community profile for Versailles (Woodford County) can be viewed at