Governor Andy Beshear announced that Meridian Biotech will establish a new facility in Franklin County, Kentucky. The project involves a $40 million investment and is expected to create up to 35 high-tech jobs. This initiative is part of a collaboration with Buffalo Trace Distillery to convert distillery byproducts into alternative proteins.
Governor Beshear stated, “We are proud to welcome Meridian to Frankfort with this incredible investment that will create high-quality jobs, strengthen our economic future and continue to grow Kentucky’s iconic bourbon industry.”
The new facility aims to transform distilling byproducts into proteins for aquaculture products, pet foods, and organic fertilizers. Meridian plans to work with Kentucky State University on internships and collaborate with the engineering department.
Brandon Corace, president of Meridian Biotech, said: “By reimagining distillery stillage as a resource rather than a byproduct, we’re pioneering new pathways in biotechnology that have the potential to transform the spirits industry.”
Meridian Biotech was founded in 2017 and focuses on sustainable biotechnological innovations. In 2021, it was selected for its innovative technology at the Distillers Grain Reverse Pitch Competition hosted by several organizations including KY Innovation within the Kentucky Cabinet for Economic Development.
Buffalo Trace Distillery has been operational since 1775 and is known for producing bourbon, rye, and vodka. It is recognized as a National Historic Landmark.
Franklin County Judge/Executive Michael Mueller expressed gratitude towards Meridian Biotech: “We thank Meridian Biotech for their catalytic investment in Franklin County.” Similarly, Frankfort Mayor Layne Wilkerson remarked on the strategic effort behind attracting such investments.
This development builds upon what has been described as the best five-year period for economic growth in Kentucky's history under Governor Beshear's administration. Over $36 billion in private-sector investments have been announced during his tenure.
Governor Beshear also highlighted other major projects such as Ford Motor Co.'s BlueOval SK Battery Park and Toyota's significant investments which have positioned Kentucky as a leader in electric vehicle battery production.
The state has seen improvements in job creation and wage increases alongside credit rating upgrades from agencies like Fitch Ratings and Moody’s Investors Service. Additionally, Site Selection magazine ranked Kentucky highly for economic development projects per capita.
Governor Beshear recently launched an initiative called New Kentucky Home aimed at increasing economic investment and tourism across the state.