Thursday, October 9, 2014

City of Richmond Wins Stone Brewing


~Company to invest $74 million and create a minimum of 288 new jobs~

Richmond, VA – Mayor Dwight C. Jones joined Governor Terry McAuliffe today in announcing that Stone Brewing Co., the 10th largest craft brewer in the United States, has chosen Richmond as the preferred location for the establishment of an east coast operation.

“We are thrilled about Stone's decision to choose Richmond as its East Coast production and distribution facility location,” said Mayor Dwight C. Jones. “After competing with more than 20 other states, we are so pleased that Stone has discovered those attributes that make Richmond a great place to do business. The fact that they have chosen a site in the Greater Fulton Community underscores their understanding of the rich history and natural assets that we have to offer. As they bring their unique craft beer and visionary business model here, I look forward to the many opportunities that lay ahead with Stone.”

Mayor Jones thanked his economic development team for their work on securing the agreement, citing the project as one that had many moving parts, requiring various amounts of expertise and a collaborative effort. The project will generate a minimum of 288 jobs in the first three years, a minimum of $41 million in machinery and equipment, and a minimum of $1.7 million in personal property.  The city also received a $5 million grant from the Governor’s Opportunity Fund to assist with the project.

Speaking about today’s announcement, Governor McAuliffe said, “Today’s announcement marks the fruition of months of partnership and aggressive efforts to show Stone Brewing Co. that Virginia is the best state for its new craft beer production and hospitality facility. The company received submissions from more than 20 states, and the Commonwealth of Virginia was selected. This competitive, high-profile project really puts Virginia on the map and cements our standing as a serious player in the craft beer industry. In addition to Stone’s significant investment and more than 288 new jobs, the far-reaching economic benefits of this operation are innumerable. The City of Richmond offers the infrastructure, available site and
building, and natural resources that will allow the company to thrive and grow, and we are confident that Stone will benefit from the Commonwealth’s excellent business environment for years to come. Today is an achievement of great magnitude, and we are thrilled to welcome Stone Brewing Co. to Virginia.”

“The search for our location east of the Mississippi River was no easy endeavor,” said Stone President and Co-founder Steve Wagner. “We received and reviewed hundreds of proposals, visited more than 40 sites, and received quite a bit of attention from communities and craft beer fans. The three finalist cities each provided diverse offerings; however, we decided to begin next-step negotiations with Richmond because of their ability to meet our extensive site requirements, subject to the city’s approval. We also feel that Richmond’s vibrant energy and impressive craft beer culture, along with the uniqueness of the property, will allow us to create a truly memorable Stone experience for our fans. We are honored by the amount of time and effort all the communities that submitted proposals put forth, and we want to specifically thank Virginia Governor Terry McAuliffe and Richmond Mayor Dwight C. Jones for welcoming us.”

 “We are working very hard on the economic development front to expand the city’s tax base, increase economic opportunity, and to provide opportunities for jobs and growth,” said Mayor Jones. “Our city has many needs, and we are working to provide the environment to meet those needs. Today’s announcement further cements the City of Richmond as a prime location for business.”

Mayor Jones noted that the agreement does require Richmond City Council approval, which he plans to advance the papers for their consideration next week.