[3] In 1774 John Floyd of Fincastle County, Virginia led a surveying party into Kentucky to locate land to be used as "compensation for soldier in the French and Indian War".

On July 7, 1774, Floyd found the spring and he received it and 1,000 acres (4.0 km2) of land as payment for his surveying work.

[4][5] Baptist preacher Elijah Craig set up a grain mill and used the spring water to first distill bourbon whiskey using the sour mash process on this site in 1789.

[4][6] Craig has long been credited with the creation of bourbon though more recent research suggests alternative explanations.

The site has several historical markers and monuments that give tribute to the spring, early settlers, and local war heroes.