Beam Suntory Pledges $9 million to University of Kentucky

International spirits company Beam Suntory has partnered with the University of Kentucky to contribute a substantial $9.375 million donation.

Over the next 10 years, Beam Suntory will donate $7.5 million to the university. In addition, a further $1.875 million is to be paid through the Commonwealth of Kentucky Research Challenge Trust Fund Endowment Match Program.

The funds are earmarked to expand the James B. Beam Institute for Kentucky Spirits, which aims to educate the next generation of distillers and advance the bourbon industry. A portion of the funds will also go to funding professorships and boosting partnerships. All of these factors will help to increase enrollment in the institute by 50%, according to Beam Suntory.

The James B. Beam Institute, named after the legendary bourbon brand’s founder, will provide a platform for students interested in the spirits industry. Furthermore, it will offer a curriculum focused on fermentation science, engineering, and business classes tailored to the bourbon sector.

This collaboration between Beam Suntory and the University of Kentucky, which began in 2019, represents a significant investment in the bourbon industry. The industry brings around $9 million into Kentucky’s economy annually.

Since the beginning of the partnership, Beam Suntory has donated around $6 million to the university. These funds helped to build a 7,500-square-foot research distillery, teaching the next generation of distillers.

Beam Suntory President and CEO Greg Hughes said: “The ongoing partnership between the University of Kentucky and Beam Suntory reflects one of our core values — Growing for Good — by committing to investing in the future of bourbon and the professional and economic opportunities it provides. We’re proud to have such a strong partnership in not only advancing the industry today but also in training the next generation of distillers, creating more opportunity and representation in bourbon and beyond.”