By Jabob Grier, Portland Writer
Cocktail consultant, magician, blogger.
Liquidity Preference Blog
My latest story for Reason looks at how some of the biggest names in craft beer are raking in millions of dollars in public subsidies to fund their expansion:
“Virginia is for beer lovers,” Governor Terry McAuliffe (D) proclaimed at a recent press conference. He was obviously not referring to a lawsuit challenging the state’s use of an antiquated “habitual drunkard” law to jail indigent citizens without due process, but rather to $3 million in corporate welfare from the state’s Commonwealth Opportunity Fund that he approved to lure Bend, Oregon based Deschutes Brewing toRoanoke for the construction of their first East Coast brewery.
For those of us who follow the beer industry, the announcement stirred feelings of déjà vu. It was less than two years ago that McAuliffe was tapping a keg from San Diego’s Stone Brewing and putting Virginia taxpayers on the hook for a $5 million grant to bring Stone to Richmond. That was in addition to a $1.5 million economic development grant, a $500,000 sustainability grant, and $31 million in bonds from the city to build a brewery and bistro.
Read the whole thing, which includes many more breweries, including Stone’s new operation in Berlin.
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