MassDevelopment issued a $280,000 Export Equipment Loan with a $196,000 Export Guarantee for Newburyport Brewing Company, a craft brewery near downtown Newburyport, Massachusetts.
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.
The Newburyport Brewing Company is a privately held craft brewery, 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.
“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.”
“Newburyport Brewing has been growing rapidly and gaining widespread recognition for its craft beers,” said Marty Jones, President/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.”
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, MassDevelopment officials said.