Notch Brewing Adds New Brewing System With MassDevelopment Loan
June 22, 2016
FOR IMMEDIATE RELEASE
Kelsey Abbruzzese, MassDevelopment, 617-330-2086 & 617-448-9077 (cell)
Chris Lohring, Notch Brewing, 978-853-9138
MassDevelopment has provided a $425,000 equipment loan to Notch Taproom LLC, an affiliate of Notch Brewing Inc., a microbrewery in Salem. The brewery is using the loan to buy a new brewing system and brewing tanks for a taproom under construction near Salem’s Pickering Wharf. The loan will allow Notch to move a portion of its production in-house and reduce its reliance on contract brewers.
“New England is becoming an incubator for creative and inventive new microbreweries,” said MassDevelopment President and CEO Marty Jones. “There’s no better time to support local food and beverage manufacturers like Notch, and we are pleased this loan will help expand a vibrant business in Salem.”
Launched in 2010 and based in Salem, Notch was the first brewing company in the U.S. to focus exclusively on low-alcohol session beer. The company is scheduled to open its new taproom, featuring two indoor seating areas and an outdoor German-style “biergarten” overlooking Salem Harbor, in early July.
“The equipment loan from MassDevelopment was a critical component in financing our new production brewery in Salem. This support allows us to expand our production capabilities to meet increasing demand, and to bring manufacturing jobs back to the city’s downtown,” said Notch Brewing founder Chris Lohring.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2015, MassDevelopment financed or managed 294 projects generating investment of more than $2.5 billion in the Massachusetts economy. These projects are projected to create about 6,100 jobs and build or rehabilitate about 2,000 residential units.