Brewery Arriving in Essex With Help From MassDevelopment Bond
January 24, 2019
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
John Collins, Great Marsh Brewing Company
MassDevelopment has issued a $5 million tax-exempt bond on behalf of Blue Ivy, LLC, a real estate entity for Essex-based Great Marsh Brewing Company. Blue Ivy, LLC and Great Marsh are using bond proceeds to build and equip a brewery at 99 and 103 Main Street. The new building will feature manufacturing, canning, and warehouse space, a taproom, beer garden, and approximately 5,000 square feet of leasable restaurant space. East Boston Savings Bank purchased the bond.
“MassDevelopment is pleased to help entrepreneur John Collins realize the dream of expanding his home brewing operation into a state-of-the-art facility, with ample space to brew, package, and sell his product,” said MassDevelopment President and CEO Lauren Liss. “Great Marsh Brewing Company is one of many craft breweries and cider houses using our low-cost financing to increase production and create jobs in the Commonwealth.”
Great Marsh Brewing Company was founded by South Hamilton resident John Collins, who has brewed beer at home for several years. The new brewery will be built at the site of former restaurant Fortune Palace II. When Collins bought the property in fall 2017, he invited the Essex Fire Department to use the empty restaurant building for training exercises before demolishing it. Construction of the brewery has begun and is expected to be complete by fall 2019.
"We're very excited to be partnering with MassDevelopment in this endeavor,” said Great Marsh Brewing Company Chief Brewing Officer John Collins. “As a manufacturing facility, Great Marsh Brewing Company is fortunate to be able to leverage MassDevelopment's tax-exempt bond financing in the construction and fit-up of our state-of-the-art brewing facility in Essex. We look forward to giving back to the Commonwealth as we create new jobs, source local ingredients, spearhead local philanthropic engagements, and more."
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.