MassDevelopment funds $7.7M Tree House brewery expansion
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The groundbreaking of Tree House Brewing Company's new site took place recently.
MassDevelopment has issued a $7,740,000 tax-exempt bond that will help build and equip a 53,000-square-foot 60 beer barrel brew house in Charlton -- the future second site for Monson-based Tree House Brewing Company.
The expansion will allow Tree House to brew up to 3,000 barrels of beer a week, or 150,000 barrels a year, and meet demand from its customers for the company’s craft beer, according to a release from MassDevelopment.
The bond was issued on behalf of Landreau Realty, LLC, a real estate entity for Tree House Brewing Company. Country Bank purchased the bond.
“We were faced with many opportunities and plenty of sleepless nights going through our options for our expansion in Charlton. We're proud to say Country Bank and MassDevelopment made it an easy decision,” Tree House Brewing Company’s Damien Goudreau said in a statement. “We continue to be humbled, not only by our customer base, but by our financial institution that stood by us from day one.”
The new brew house is expected to open sometime in early 2017.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy.
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