Craft beer's economic impact booms to $1.7 billion in Colorado

9NEWS at 7 a.m. 09/12/16.

DENVER BUSINESS JOURNAL - Craft beer’s economic impact on Colorado grew nearly 50 percent last year to $1.7 billion, with much of the increase coming from the expansion of larger, independent breweries selling in more states and more retail outlets, according to a study released Thursday.

The record benefit came as the number of breweries in the state has soared over 350 — 358 as of Aug. 1, to be exact — and the number of people employed at craft breweries hit 7,776 by the end of last year, according to the study.

The Colorado Brewers Guild commissioned the study, which was conducted by the business research division of the University of Colorado-Boulder’s Leeds School of Business.

When using a multiplier effect that considers the sector’s impact on bars, restaurant, material suppliers and other related industries, craft beer is responsible for 12,085 jobs and $1.66 billion in output in the state that often is called the “Napa Valley of craft beer.”

Read more at the Denver Business Journal: http://bit.ly/2ch54Mg

Copyright 2016 Denver Business Journal


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