Rare Breed Distilling LLC, which produces the Wild Turkey brands of bourbon whiskey, plans to build a 20,000 space barrel storage warehouse at its Wild Turkey distillery in Lawrenceburg, Kentucky Gov. Steve Beshear announced.

The warehouse will be used to store and age bourbon.

The Kentucky Economic Development Finance Authority recently approved the project for up to $40,000 in tax incentives over 10 years under the Kentucky Enterprise Initiative Act . The act allows companies to recoup a portion of Kentucky sales and use taxes for approved construction and building costs.

The project amounts to a $2.3 million investment, according to a news release.

A new distillery under construction at the same site is expected to start operation late this year. Wild Turkey announced plans to build that distillery in 2007.