Regardless of the shape of the economy, liquor profits continue to rise in Ohio.
Spirituous liquor sales in the state reached another record for the 2012 fiscal year, which ended June 30, totaling $825 million, a 7 percent increase over the previous year. It was the largest year-to-year jump since 2006. Net profit rose nearly 6 percent to $251 million.
After declining in three of the past four years, wholesale sales — reflecting activity at bars, restaurants and other entertainment venues — were up nearly 6 percent, which is a positive indicator for Ohio’s economy, said Bruce Stevenson, superintendent of the Ohio Division of Liquor Control.
He also said it was a positive sign that dollar figures grew faster than consumption. Sales totaled 11.7 million gallons last year, up about 4 percent and the most since 12.1 million gallons in 1985.
“Our success is due in part to Ohioans buying more high-quality and premium-priced items as tastes get more sophisticated,” Stevenson said.
Ohio liquor sales, which include beverages containing more than 21 percent alcohol, have grown each year since 1994.
If the liquor profits trend continues, it will be good news for JobsOhio, the new nonprofit entity that is taking over most economic development activity for the state. It is expected to pay $500 million to Ohio by the end of the year for the use of future liquor profits. The deal was held up for months because of various legal challenges filed by Democrats and a liberal policy group.
The Franklin County Court of Appeals threw out the lawsuit, so JobsOhio can now go to the bond market. The deal is expected to give JobsOhio about $100 million a year, primarily for loans and grants.
Kamchatka Vodka has been the top-selling liquor in Ohio for years. Other top sellers are Jack Daniel’s Tennessee Whiskey, Bacardi Superior Light Rum, Captain Morgan Spiced Rum, Absolut Vodka, Smirnoff Vodka and Crown Royal Canadian Whisky.