Port City Brewing Company Receives Competitive Incentive Package to Expand Operations in Alexandria, Virginia
Today, Governor Terry McAuliffe announced that Alexandria’s nationally recognized, award-winning Port City Brewing Company will expand its craft brewery production footprint in Alexandria as a result of a competitive incentive package.
The Alexandria Economic Development Partnership (AEDP), in collaboration with the Governor’s Office and the City of Alexandria, worked for more than a year to retain Port City. AEDP identified a largely untapped state incentive program known as the Agriculture and Forestry Industries Development (AFID) fund that helped Alexandria create a highly competitive incentive package that resulted in Port City’s decision to remain and expand in Alexandria.
Prior to this decision, Port City weighed expansion options across Northern Virginia and identified an industrial site in Alexandria that could meet their evolving needs. The incentive package presented by AEDP provides $250,000 in state dollars, which Alexandria will match, and makes it possible for Port City to make a capital investment of $2.6 million and hire 26 new employees to meet growing customer demand. As a result, the City expects to gain nearly $300,000 in new tax revenue in the next five years. As National Craft Beer Month concludes today, this deal is an example of AEDP’s creativity in discovering innovative ways to attract and retain businesses across various industries.
Alexandria Economic Development Partnership President & CEO Stephanie Landrum is available for comment to discuss:
- How AEDP identified untapped state grants to retain Port City in the City of Alexandria
- Why the strategic use of incentives is important to help cities retain and attract business and create jobs
- Tactics municipalities can implement to retain notable creative economy businessesHow businesses like craft breweries are important amenities that have a positive impact on making communities a vibrant place live and work, and therefore drive workforce attraction for other area businesses
