State offers tax incentives to possible buyer of defunct Old Taylor Distillery

The Old Taylor Distillery in Woodford County, lost to time, vandals and vegetation since the 1970s, might soon spring back to life.

[Read Tom Elben's column about the distillery, once "the most fascinating place in Kentucky."]

The Kentucky Economic Development Finance Authority gave preliminary approval Thursday for $250,000 in tax incentives for a $4.2 million renovation of the property, on Glenns Creek in Millville.

According to the report from KEDFA, Peristyle LLC is considering buying and renovating the Old Taylor Distillery to make distilled spirits, primarily bourbon.

The anticipated investment includes $400,000 for land, more than $2.5 million for building and improvements, almost $1.2 million for equipment, and $62,500 in other startup costs for a total of $4,182,917.

According to the Kentucky Secretary of State's website, Peristyle was formed early this month, with William Miles Arvin Jr. of Nicholasville as organizer and registered agent.

According to the KEDFA documents, Arvin has at least a 20 percent ownership stake, as does WMIH McCracken Pike LLC of Lexington, formed by Wesley Murry, who is listed as principal of Sagebrush Investment Partnership.

The distillery is projected to create 10 jobs, with an average hourly wage, including benefits, of $17.

Another new distillery could be coming to Shelbyville. KEDFA also preliminarily approved $190,000 in tax incentives for Rut 'n Strut Distillery.

According to the KEDFA report, Rut 'n Strut is "a startup artisan distillery, focusing upon a variety of distillery spirits including primarily bourbon, vodka and corn whiskey — moonshine."

The project would include a distillery, a visitors center and crop production, for a total investment of more than $4 million. The distillery would create 11 jobs, with an average hourly wage, including benefits, of $40.

Joyce Nethery of Shelbyville is listed as having 20 percent or more ownership in the project, according to the state.

In other bourbon news, KEDFA approved $70,000 in tax incentives for a new $3.8 million barrel warehouse for Jim Beam Brands at the Booker Noe distillery in Boston in Nelson County "due to increased production capacity."

This story was originally published April 24, 2014 at 1:37 PM with the headline "State offers tax incentives to possible buyer of defunct Old Taylor Distillery."