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Kentucky's bourbon industry made an impressive $9 billion economic contribution last year. The news was released via a report from the Kentucky Distillers' Association led by Dr. Paul Coomes.
Governor Andy Beshear attributed the state's flourishing economy to the bourbon sector, recognizing its role in creating over 23,100 jobs. Not to mention, the industry included a payroll exceeding $1.63 billion and contributed $357 million in taxes.
Eric Gregory, President of the Kentucky Distillers' Association, emphasized the positive impact of modernized alcohol laws and the dedicated industry workforce, resulting in a substantial $5.4 billion in capital investment.
The Bourbon Economic Impact Report, drawing insights from 100 distilleries across 42 counties, underscored the industry's global influence, with bourbon exports surpassing $500 million in 2022.
Beyond economic figures, the report highlighted the bourbon industry's role in boosting tourism, particularly benefiting regions like Louisville.
Agriculture, with a focus on corn production representing 70% of distillery purchases, played a pivotal part.
In 2022, a record-breaking 2.7 million barrels were produced, marking the fifth consecutive year of surpassing two million barrels.
Jonathan Shell, Kentucky's Agriculture Commissioner, underscored the industry's positive influence on local economies, job creation and economic development, especially in areas facing challenges in these domains.