The last two years saw the number of licensed distilling companies triple from 10 to 31 in Kentucky, while the bourbon industry went up from 8,690 workers to 15,400 employees this year.
"Honestly, we're blown away by these results," Eric Gregory, Kentucky Distiller's Association President stated.
The association was actually the one who commissioned the University of Louisville to perform the study for the third time in five years.
"We're entering the golden age of bourbon. It's not just a fad. This is a legitimate trend that's great for the commonwealth," Gregory added.
Gregory hopes that the information from the University of Louisville study will aid in making laws that would help bolster and effectively benefit the bourbon industry in Kentucky.
Meanwhile, State officials have showed their support in the plans of the state, however Republican Senate President is doubtful about his future efforts. "I don't know what they would be looking for in tax relief. I could see more in the realm of regulatory-type of relief," he said.
This comes as the study revealed that Kentucky imposes taxes on distilleries that are fifth highest among 33 states where spirit sales are not government-owned.
Kentucky bourbon and Tennessee whiskey made a whopping $1 billion worth of exports in 2013, a big feat as it was reportedly the first time the state did that, according to the Distilled Spirits Council of the United States.
Meanwhile, the state had a share of its troubles in the past years, but fortunately, they had a booming bourbon industry that helped them through those tough times.
"Kentucky's been through fairly a difficult recession." Kentucky Chamber of Commerce President Dave Adkisson said.
"The bourbon industry provided a fantastic cushion during that time," Adkisson added.
Kentucky bourbon industry is seeing a bright future ahead of it, with more than 5.3 million barrels currently maturing in Kentucky.
