2007 Archives
The Harrisburg Regional Chamber and CREDC Announce Economic Development Assistance Provided to Appalachian Brewing Company
HARRISBURG, PA (November 2, 2007) - The Harrisburg Regional Chamber and CREDC (HRC/CREDC) announced today that it provided financing to Appalachian Brewing Company, Inc. ( ABC ) to purchase new equipment needed for brewing operations at 50 North Cameron Street, Harrisburg, Dauphin County, Pennsylvania. ABC bottles, packages and distributes its own product across Pennsylvania and has tapped into surrounding state markets as well. The company produced approximately 3800 barrels of beer last year and expects to produce 4500 this year.ABC was incorporated in August of 1995. They began operations in January 1997 as a brewery with an on-site restaurant at their current location on Cameron Street in Harrisburg. They have grown to three locations in total including a restaurant in Camp Hill and Gettysburg. The main brewing operations remain in Harrisburg. The company has reached its maximum production capacity, but is not yet satisfying 100% of the demand for its products. The purchase of this new equipment will provide to them nearly double their current production capacity. "
Appalachian Brewing Company is a true entrepreneurial success story," stated David Black, President & CEO of the Chamber & CREDC adding, "These are the kind of projects that our organization finds particularly rewarding. This project is a great example of the three people bringing their own unique talents together to work as a strong team to create and build a business that started with a shell of an old building provided to them by Mayor Reed and the City. From that building, they have begun and increased product production capabilities, as well as open several restaurants in South Central Pennsylvania, all of which creates a significant number of jobs. We were very pleased to be able to help them secure some low interest financing."
HRC/CREDC provided a Small Business First (SBF) loan of $180,218 in conjunction with PA State Bank financing and equity contributions. Total project costs were $450,554, which will retain and/or create 8 full-time jobs. The SBF loan program is designed to stimulate the expansion and assist in the retention of small business for the purpose of creating new jobs and retaining existing jobs in Pennsylvania. This important program is administered by the Commonwealth's Department of Community and Economic Development and is funded with the ongoing support of the Administration and the General Assembly.
The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region.
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. Over the past 6 years, the Chamber & CREDC has provided assistance that has created over $200M in economic impact and created or retained over 9,000 jobs. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.
