According to a report compiled by John Dunham & Associates, more than 25,900 new jobs in the commonwealth could be directly attributed to the the growing MA craft beer industry. Not only has craft brewing brought a rush of jobs into Massachusetts, it has generated over $2.5 billion in sales and taxes for the commonwealth.
MA Craft Breweries: Profit by the Barrel
Craft beer is a growing industry throughout the country—it has grown by 32% over the past few years. Simultaneously, though, large companies like Anheuser-Busch have seen their market shares decrease by as much as 7%. American beer palates seem to be evolving—or have at least begun to align more closely with the flavors of smaller craft breweries. In 1980, the Brewers Association reported that there were just 50 craft breweries in the country. As of June 2015, that number has risen to 3,739.
Craft Brewing’s Early Days in Massachusetts
There is disagreement about the official “beginning” of the craft beer business, but it has early roots in Massachusetts. In the mid-1980s, Jim Koch went door-to-door in Boston selling his family’s home brew to local bars. He then founded the Boston Beer Company, following the huge success of his flagship beer, Samuel Adams. The company, which recorded a gross 2014 profit of over $465 million, is still dedicated to the growth of the MA craft beer industry. Early in 2015, the Boston Beer Company partnered with Accion to offer microloans of between $500 and $25,000 to small breweries. They also sponsor a hops-sharing program that helps smaller breweries obtain the hops necessary to brew India Pale Ales (IPA), one of the most popular styles of beer.
MA Craft Beer Taps Into Other Industries
Craft beer sales have significantly improved the Massachusetts economy in a number of ways. Twenty-nine cents of every dollar spent on craft beer in Massachusetts go toward personal and business taxes paid by brewers—that’s $766 million in additional tax revenue. Craft brewing has had a ripple effect on other industries as well. The agricultural industry, for example, benefits from brewers’ incorporation of fruits, vegetables, spices, and other seasonings into their beers. This experimentation has catalyzed a flux of new brews that were previously unavailable. Construction companies and contractors have been hired to renovate old warehouses and abandoned buildings into breweries, like Abandoned Building Brewery in Easthampton, MA. The manufacturing industry has benefitted from craft brewing’s bottling, canning, and labeling processes. In Massachusetts alone, brewing has created over 7,000 supplier jobs.
Craft Brewing Expected to Grow Lager and Lager
As a growing industry, craft brewing has created a nationwide economic swell, with microbreweries cropping up in towns and cities across the United States. Not sure where to start? Visit a local Massachusetts craft brewery today. Recommend your favorite beers in the comments below!
Craft brewing has shaped up to be a hugely profitable and flourishing industry. We don’t know about you, but we’ll toast to that. Cheers!