‘The Future of Bourbon’: Beam Suntory Donates Almost $10 Million to the University of Kentucky
Beam Suntory is donating a total of $9.3 million to the University of Kentucky’s James B. Beam Institute. (Photo: University of Kentucky Martin-Gatton/Instagram)
On Monday, Beam Suntory announced a donation of $9.375 million to the University of Kentucky’s James B. Beam Institute for Kentucky Spirits.
The spirits conglomerate intends to donate $7.5 million over a decade in addition to a donation of $1.875 million to be paid through the Commonwealth of Kentucky Research Challenge Trust Fund Endowment Match Program, on the condition it is approved by the Kentucky Council on Postsecondary Education.
Part of Beam Suntory’s investment will go to funding professorships, an endowed chair and expanding the James B. Beam Institute’s partnerships with institutions like The Learning Bar. With this added capital, Beam Suntory says enrollment can be expanded by 50%.
“In extending our deepest gratitude to Beam Suntory for their generous contribution, we recognize not only their pivotal role in supporting the bourbon industry but also their unwavering commitment to our institute’s mission,” Vice President of Land-grand Engagement and Dean of Marton-Gatton CAFE Nancy Cox said in a statement. “This gift strengthens our ability to address industry challenges and reinforces our dedication to preparing future leaders who will drive the spirits industry forward.”
The partnership between Beam Suntory and the University of Kentucky began in 2019, and the parent company behind brands like Jim Beam, Maker’s Mark and Knob Creek has donated $6 million thus far.
Some of the ways the brand has helped the university include building a 7,500-square-foot research and teaching distillery, expanding the Distillation Wine and Brewing Studies Certificate program and providing internships and distillery apprenticeships.
“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,” Beam Suntory President and CEO Greg Hughes said in the news release. “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.”
Follow The Daily Pour:
About The Daily Pour
Founded by Dan Abrams, The Daily Pour is the ultimate drinking guide for the modern consumer, covering spirits, non-alcoholic and hemp beverages. With its unique combination of cross-category coverage and signature rating system that aggregates reviews from trusted critics across the internet, The Daily Pour sets the standard as the leading authority in helping consumers discover, compare and enjoy the best of today's evolving drinks landscape.
