Jim Beam looks to expand distilleries in Boston, Clermont
LOUISVILLE, Ky. (WDRB) – Jim Beam Brands is considering spending $165 million to expand its bourbon distilleries in Boston, Ky. and Clermont, Ky., according to Kentucky economic development incentive documents.
In Clermont, the company is looking at spending a little more than $101 million to increase distilling capacity and to add “new capabilities in the bourbon making process,” according to the Kentucky Economic Development Finance Authority.
Costs would include equipment, land and building construction, according to the documents.
In Boston, Beam’s largest distillery, the company is looking at “steadily increasing capacity over the next five years.”
Beyond those descriptions, the documents don’t shed much light on Beam’s plans.
"As the world leader in bourbon, we are committed to investing ahead of growth, and setting our brands up for continued success," Beam spokeswoman Emily York said in an email. "While we have not finalized our plans, we’re considering a variety of investments to continue to grow our business in Kentucky and around the world."
Beam would be eligible for sales tax rebates of $1.2 million for purchases related to the Clermont expansion, and for another $600,000 in sales tax rebates for the Boston project.
Beam, whose brands include Maker’s Mark, is part of privately held Beam-Suntory, a subsidiary of Suntory Holdings Limited of Japan.