Newburyport Brewing Company to Expand Production and Export Capacity Thanks to MassDevelopment Loan, Export Guarantee
April 7, 2015
FOR IMMEDIATE RELEASE
MassDevelopment has issued a $280,000 Export Equipment Loan with a $196,000 Export Guarantee for Newburyport Brewing Company. To meet increasing demand for its craft beers, the Massachusetts all-can and keg craft brewery is using loan proceeds to purchase American-made tanks that will enable it to double on-site production capacity to more than 15,000 barrels per year.
“Newburyport Brewing has been growing rapidly and gaining widespread recognition for its craft beers,” said Marty Jones, President and CEO of MassDevelopment. “MassDevelopment is pleased to partner with Newburyport Brewing to help the company scale up its brewing operations and hire more full- and part-time employees.”
MassDevelopment’s exporter financing and other financing and real estate programs provide support to Massachusetts businesses.
Newburyport Brewing has grown significantly during its first two years in business and recently announced a partnership with Delta Air Lines to serve its Newburyport Pale Ale onboard Northeast Regional Shuttle flights.
“During the last two years, we have proven our commitment to deliver fresh, high quality craft beers with Green Head IPA, Newburyport Pale Ale, Plum Island Belgian White, and our 1635 Series of limited releases,” said Chris Webb, co-founder and CEO. “We are excited to partner with MassDevelopment to expand our production and offer more innovative products across Massachusetts.”
About the Newburyport Brewing Company
The Newburyport Brewing Company is a privately held craft brewery dedicated to brewing the highest quality craft beer products for local and regional consumers. Co-founded by two local Newburyport entrepreneurs, musicians, and home brewers—Chris Webb and Bill Fisher—the company aims to capture the essence of Newburyport’s quaint seaside character across a line of great tasting handcrafted ales. The brewery, near downtown Newburyport, uses premium quality natural ingredients in its products: Green Head IPA®, Newburyport Pale Ale®, Plum Island Belgian White®, and, and 1635 Series™ small batch beers. Visit the brewery on the Web at www.nbptbrewing.com, on Facebook at /NewburyportBrewingCo or follow @NBPTbrewing.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2014, MassDevelopment financed or managed 314 projects generating investment of more than $2.9 billion in the Massachusetts economy. These projects are projected to create more than 6,300 jobs and build or rehabilitate more than 1,600 residential units.