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Stone rolls to Virginia
Public funds and a desirable property lure SD’s biggest brewer
Richmond, the capital of Virginia, has won out in a contest also involving Norfolk, Virginia, to host a new brewing facility for San Diego–based Stone Brewing, the nation's tenth-largest craft brewer.
Virginia governor Terry McAuliffe broke the news that Richmond would be the site of what's expected to be a $74 million investment in a public announcement late last week.
"This competitive, high-profile project really puts Virginia on the map and cements our standing as a serious player in the craft beer industry," said McAuliffe in an October 9 release.
Stone isn't the first local brewer to set its sights on Virginia — earlier last year Green Flash Brewing announced plans to pour $20 million into a Virginia Beach facility.
After reportedly receiving hundreds of proposals and visiting more than 40 potential sites, the Richmond site was chosen for its unique property characteristics and because of the city's craft-beer culture, according to paraphrased comments from Stone co-founder and president Steve Wagner in the Virginia-based Daily Press.
The paper immediately goes on to speculate that a more compelling reason for the location choice could be $31 million in Economic Development Authority public funds being made available for the brewery's construction. The body would then accept lease payments for 25 years, according to athe Richmond Times-Dispatch.
There's also another $5 million up for grabs from the Governor's Opportunity Fund and a $250,000 grant "based on procurement of Virginia-grown products."
The project is expected to create up to 288 jobs and a reported production capacity of 129,000 barrels per year would single-handedly double the state's current beer production.
Here's something you might be interested in.
Stone rolls to Virginia
Public funds and a desirable property lure SD’s biggest brewer
Stone rolls to Virginia
Public funds and a desirable property lure SD’s biggest brewer
Richmond, the capital of Virginia, has won out in a contest also involving Norfolk, Virginia, to host a new brewing facility for San Diego–based Stone Brewing, the nation's tenth-largest craft brewer.
Virginia governor Terry McAuliffe broke the news that Richmond would be the site of what's expected to be a $74 million investment in a public announcement late last week.
"This competitive, high-profile project really puts Virginia on the map and cements our standing as a serious player in the craft beer industry," said McAuliffe in an October 9 release.
Stone isn't the first local brewer to set its sights on Virginia — earlier last year Green Flash Brewing announced plans to pour $20 million into a Virginia Beach facility.
After reportedly receiving hundreds of proposals and visiting more than 40 potential sites, the Richmond site was chosen for its unique property characteristics and because of the city's craft-beer culture, according to paraphrased comments from Stone co-founder and president Steve Wagner in the Virginia-based Daily Press.
The paper immediately goes on to speculate that a more compelling reason for the location choice could be $31 million in Economic Development Authority public funds being made available for the brewery's construction. The body would then accept lease payments for 25 years, according to athe Richmond Times-Dispatch.
There's also another $5 million up for grabs from the Governor's Opportunity Fund and a $250,000 grant "based on procurement of Virginia-grown products."
The project is expected to create up to 288 jobs and a reported production capacity of 129,000 barrels per year would single-handedly double the state's current beer production.
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