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Daviess County Groundbreaking for TerrePURE(R) Distilleries Company creating 75 jobs, investing $25 million to renovate historic Old Charles Medley Distillery By Terry Sebastian Owensboro, KY - Governor Steve Beshear today joined TerrePURE(R) company officials for a groundbreaking and dedication ceremony to rename the Old Charles Medley Distillery in Daviess County. The distillery will be named the O.Z. Tyler Distillery in memory of the co-inventor of the TerrePURE(R) distilling process. The company is investing $25 million to purchase and refurbish the nearly 80-year-old facility and will create up to 75 full-time jobs. "This is an exciting time for our distilling industry and a historical milestone for Owensboro, and it is great to see historic facilities like this one coming back to life," said Gov. Beshear. "I commend TerrePURE(R) on its investment and wish the company future success." TerrePURE(R) is renovating and repairing buildings on the 28-acre site, as well as installing new equipment. The company initially announced plans for the project in May 2014. TerrePURE(R) is owned by South Carolina-based Terressentia Corp., which creates spirits for various retailers by using a patented technology that uses ultrasonic energy and oxygenation to rapidly mature it. "We are extremely grateful to the Owensboro community and the Commonwealth of Kentucky for all they have done to encourage and welcome us, including tax and other incentives," said Earl Hewlette, CEO of Terressentia Corp. "We have begun the local hiring process, and we anticipate adding approximately 50 to 75 jobs for the distillery operations once fully refurbished." Charles Medley is the site of one of the oldest distilleries in Owensboro, having started operations in 1885. The facility on Distillery Road shut down more than two decades ago. Kentucky's legendary distillers produce 95 percent of the world's bourbon, and the more than 5.6 million barrels of aging bourbon here outnumber the state's population of 4.4 million. More than 15,400 jobs in Kentucky are connected to distillery-related enterprise, generating approximately $707 million in payroll, according to the Kentucky Distillers' Association. "This new investment by TerrePURE(R) comes as wonderful news for our community," said Sen. Joe Bowen, of Owensboro. "This has been called the 'Golden Age' for bourbon distilleries, and we could not be more excited to be awarded with 75 new jobs in Owensboro as a result of the industry's success." "I am proud of the mutual investment our state has made with TerrePURE(R) Kentucky to modernize the Charles Medley distillery," said Rep. Jim Glenn, of Owensboro. "Gov. Beshear and our local officials realize the economic benefit the bourbon industry will make in our community. We appreciate TerrePURE(R) recognizing that our area is the perfect place to locate a successful business." "I applaud Gov. Beshear's administration, TerrePURE(R) Kentucky Distillers, and all our local officials for working together to revitalize the Charles Medley Distillery," said Rep. Tommy Thompson, of Owensboro. "This investment is a testament to the character of our community and the incredible work force we have to offer. The bourbon industry has had a tremendous economic impact on Kentucky, and I'm excited for the good paying jobs this will bring to Daviess County." "TerrePURE(R)'s announcement is more evidence of our community's continued progress and renewal," said Owensboro Mayor Ron Payne. "This facility will be another player that will bring us back into the distilling business. Congratulations on behalf of the Owensboro Board of Commissioners to TerrePURE(R), and welcome to our community." "During the celebration of Daviess County's bicentennial, it is with great community pride that we welcome TerrePURE(R) to our community," said Daviess County Judge-Executive Al Mattingly. "The investment in this property, which has such historic significance in the production of bourbon and the creation of new jobs, is recognized and appreciated by all of us in Daviess County. Our Fiscal Court approved the company for up to $200,000 from the Daviess County economic development incentive fund for the building remediation and repairs. We wish TerrePURE(R) all the success in the world!" To encourage the investment and job creation in Daviess County, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $1.2 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 TerrePURE(R) for tax benefits up to $100,000 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. In addition, TerrePURE(R) is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies. This story was posted on 2015-08-01 11:09:18
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Gov. Beshear Applauds Ashland's Planned Construction Project E-Z pass system coming for toll points in Kentucky Ashland, KY man enters guilty plea in domestic assault case KOHS, KSP launch 'Move Over' campaign Jobless rates down in 118 Kentucky counties in June 2015 Green County among recipients of AILP Loans $500,000 Loan Forgiveness Program for KY Dental Students Gov. Beshear: Continued Investment Drives Kentucky's Progress Jobless rate in Kentiucky at 5.1 percent in June 2015 Attorney General Conway warns against storm-related price gouging and scams View even more articles in topic Kentucky |
 
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