FRANKFORT, Ky. — Gov. Andy Beshear highlighted the continued momentum in Kentucky’s economy and booming bourbon and tourism industries by welcoming Saga Spirits Group to Woodford County on Thursday.
Saga Spirits Group plans to develop a new $92.5 million whiskey-related project at Edgewood, a150-acre site in Versailles. The project includes the creation of a distillery, an interactive visitor center, a tasting room, unique lodging, a restaurant and retail and event space. Saga Spirits Group will also be making improvements to The Kentucky Castle, an iconic hotel and venue located four miles away in Versailles, catering to visitors exploring the Kentucky Bourbon Trail and Keeneland Racecourse in Lexington with its premium guest rooms, restaurant, whiskey bar and event space. Once operational, this project is expected to create 89 jobs, providing an economic boost to the region.
“People from all over the world travel to Kentucky for our bourbon, horses and hospitality, and this project from Saga Spirits will give our guests and our neighbors one more reason to visit and to fall in love with Kentucky,” said Gov. Beshear. “Our home is a world-class destination with one-of-a-kind experiences, delicious food and the very best bourbon, and the offerings are continuing to grow as our tourism industry and economy thrive. Thank you to these partners for investing in our commonwealth, creating good jobs and helping us build a bright future for our new Kentucky home.”
“It has been a huge blessing to be members of the Kentucky bourbon industry for many generations. To begin this next chapter for the Henderson family, we have chosen Versailles and Woodford County. We are humbled and honored by the support we are receiving from government officials, tourism development, businesses and residents,” said Wes Henderson, CEO of Saga Spirits Group. “We are also looking forward to the groundbreaking this fall. Our team is composed of experts in distilling, distilling finance, supply chain and logistics, marketing, packaging and hospitality, with combined expertise of more than a century of success in the industry. Wonderful things are ahead for us and the entire community.”
Upon the recommendation of the Tourism, Arts and Heritage Cabinet, Saga Spirits Group received approval from the Kentucky Tourism Development Finance Authority for incentives totaling $4.192 million based on tourism investments of $35.4 million. Once operational, the tourism project anticipates generating 46 full-time jobs.
Through the Tourism Development Act, qualifying tourism development projects can recover up to 25% of approved development costs through the recovery of sales tax generated by the development. This year, the commonwealth has given final approval to six tourism development projects for an estimated economic investment of $181.7 million.
“Not many states can claim a local castle with an associated whiskey brand. We are fortunate to serve as home to The Kentucky Castle, a distinctive Bluegrass attraction drawing tourists and locals alike,” said Tourism, Arts & Heritage Cabinet Secretary Lindy Casebier. “These improvements will enhance an already incredible venue, and Saga Spirits Group’s project will create an exciting new destination for bourbon tourists.”
The most recent economic impact study by the Kentucky Distillers’ Association (KDA) found that bourbon is responsible for more than $415 million in annual economic impact to Woodford County and 1,200 stable, good-paying jobs. Woodford County’s rich bourbon heritage dates back to early lodge pioneer distillers and now includes some of today’s most recognizable brands and cherished homeplaces.
“As a resident of Woodford County, I’m especially excited that this investment by Saga Spirits Group will bring even more jobs and benefits to the area and enhance Woodford County’s prominence in bourbon tourism,” said KDA President Eric Gregory. “This is a great example of how bourbon is building Kentucky communities, and the KDA is proud to partner with local leaders to further investments to ensure a stronger future for us all.”
In Woodford County, tourism supports 274 jobs and generated over $38.1 million in economic impact in 2023. Woodford County Judge/Executive James Kay welcomed the tourism development project to the community: “Woodford County’s bourbon boom continues as we welcome another world-class bourbon project to the county. No place compares to Woodford County, and we proudly welcome Saga Spirits Group and its wonderful family of employees to create a new whiskey experience that will provide jobs, economic opportunity and enjoyment for years to come. It is a great day for the whiskey industry, Woodford County and all of Kentucky.”
Versailles Mayor Brian Traugott looks forward to the project’s impact on the area and local businesses: “Saga Spirits will have a significant impact on the Versailles economy. In addition to the whiskey production jobs, the visitors they attract will provide a large ancillary benefit to existing local businesses. We are excited to welcome a company committed to being a great community asset.”
Visit Woodford Executive Director Emily Downey highlighted the tourism opportunities the development will bring to Woodford County: “Woodford County, renowned as the Birthplace of Bourbon, is thrilled at the prospect of a new a world-class distillery that promises an unparalleled experience. We eagerly anticipate welcoming guests in royal fashion, highlighting our signature industry while showcasing the unique charm that makes Woodford County truly special.”
TagsThe Bourbon Flight
