$350,000 loan to aid Sitka-area brewery
Baranof Island Brewing Co. was recently granted a $350,000 development loan by the mayor and City Assembly of Sitka. The loan was from The Southeast Alaska Economic Development Revolving Loan, also known as the Stevens Fund.
This loan will allow the microbrewery to purchase a new grain mill and establish a beer-canning line.
The company was founded in 2009 by Rick and Suzan Armstrong in a garage two miles outside downtown Sitka. "With growing Alaska demand and with our expansion into Washington state," Rick Armstrong said, "this loan is crucial to help us scale up our production facilities."
The most important investment will be a canning line. Canning is gaining favor in the craft beer industry as an economical method to distribute beer while preserving flavor. Glass bottles are expensive to ship to Sitka empty and even more costly to ship out full. Aluminum cans will lower shipping costs while increasing the shelf life of the company's beers.
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