Founders Brewing Company will invest $26 million to expand its Grand Rapids, Michigan, brewery, creating a projected 52 new jobs.
“The craft beer market continues to grow, and demand for Founders beers has caused our growth to outpace average industry growth,” said Founders Brewing Co. President and CEO Mike Stevens. “Meeting this demand requires a significant upfront investment in additional facility area and, more importantly, in additional equipment. We are grateful for this incentive assistance, which will allow us to keep up with demand and to be in a position to hire more people to help us grow the brewery.”
“Founders Brewing Co. is a leader in Michigan’s growing microbrew industry and deserves to be congratulated on this expansion. We thank them for their continuing commitment to Grand Rapids and to Michigan,” said Michigan Economic Development Corporation President and CEO Michael A. Finney. “We should also thank both The Right Place and the City of Grand Rapids for helping to make this expansion to take place. This collaboration is a great example of what we can accomplish when working together.”
Founders plans to expand its Grand Rapids facility to support its continued growth. As an incentive, Founders has been awarded a $2 million Michigan Business Development Program performance-based grant with repayment terms. The City of Grand Rapids has offered a 12-year property tax abatement valued at approximately $300,000.
“Founders Brewing is a shining star in Grand Rapids, not only from a consumer standpoint but also with regard to economic development,” said Susan Jackson, Senior Business Development Manager, The Right Place, Inc. “This expansion confirms that Grand Rapids continues to find a niche in the micro-brewing industry. We are pleased to help Founders grow in Grand Rapids.”