The planned Caddo Distillery Company is now the second company to receive $100,000 under MEDCO’s occupancy grant fund program.
The Marshall City Council unanimously approved the project, dubbed Project Virginia, at its meeting Thursday.
The occupancy grant program was created, according to MEDCO Director Rush Harris, as a way to reward business owners for renovating dilapidated structures and turning them into taxable businesses in the Marshall area.
The program is a reimbursement grant, which means that if a company participating in the program does not receive the certificate of occupancy, it does not receive any grant from MEDCO. Harris said once a formal CO is in place, the company will receive grant funds as a lump sum within 30 days.
“I think it’s a really great project, I don’t think we’ve had anything like this downtown, and I’m sure it will bring people downtown,” Harris said.
Harris said adding the Caddo Distillery Company as the second company to participate in the organization’s program would maximize the available funds set aside for the program this year.
The program was launched in February when the board approved Ruggenbach Brewing Company as the first company to participate in the program. Caddo Distillery Company and Ruggenbach Brewing Company have been approved for funding under the program for up to $100,000, or 10% of total project costs.
Harris said that for the program’s first year, MEDCO has allocated $200,000 to the new program, with both companies to receive the maximum grant amount after meeting certificate of occupancy requirements.
“I’m really excited to see the companies returning to Marshall,” said board member Vernia Calhoun.
The Caddo Distillery Company is a new micro-distillery planned for 305 and 307 North Washington Avenue in downtown Marshall – the former JC Penny Building. The company is owned by Scott Carlile.
Harris said the building will require building renovations, electrical renovations, plumbing, flooring, facade upgrades, HVAC equipment and a brand new sprinkler system before it is operational. .
With the expected plans in place, Carlile said community members can expect to see products from the new Caddo Distillery Company in Marshall being sold before the end of the year.
The company plans to host its own micro-distillery, which Carlile says will have full equipment and produce its own bourbon by the end of the year. Additionally, in the adjacent building, the company plans to create a restaurant, bar, dining room and event space, which will likely open in 2023.
He said a gift shop with the company’s products and other items would also be under construction this year, with plans to open — with the bourbon sold to local distributors — later this year.
The restaurant and event space will provide a stage, where Carlile said the company hopes to create additional event venue, as well as space available to rent for parties and private events.
Additionally, Carlile said that when the restaurant and bar open, the company plans to partner with local restaurateurs to offer a rotating menu, bringing in new chefs at different times of the year.
When the renovations are complete and the business officially opens, Carlile said he expects to create at least 10 new permanent positions.