HomeMy WebLinkAboutNEW BELGIUM BREWERY - MAJOR AMENDMENT - 1-95A - MEDIA -New
Beiglum
gets bonds
to expand
Brewery to add office
space, treat waste
By DAVID RUISARD
The Coloradoan "/ aG - 6 0
New Belgium Brewing Co. is
heading for an expansion, and
the state of Colorado is lending a
hand with the financing.
The Colorado Housing and Fi-
nance Authority is expected to
issue $3 million in tax-free bonds -
to assist the local brewer in cre-
ating more office space, improv-
ing its waste treatment process
and increasing its brewing ca-
pacity.
"We're just trying to meet the l
needs of our loving fans," said
Greg Owsley, New Belgium mar- j
keting director. i
Close to $2 million of the ;
bonds will go toward a new so�iL
'waste treatment facility.
"We can recover more of the
spent brewing protein and .re- ,
turn it into the environment as -
animal feed as opposed to pour-, ,
ing it down the sewer," Owsley j
said of the new system.
The result is a reduction in ....?
sewer fees for the brewer and a
reduction in the amount of waste .a
the city must process.
The rest of the bond money
will be spent on new fermenta-
tion equipment and the creation
of 10,000-square-feet of office
space, adding to the brewer's
current 5,000-square-feet.
New Belgium has been work-
ing on the bond issuance for the
past three months.
"It's an amazingly low rate,"
said Jennifer Vervier Orgolim, I
New Belgium's financial direc-
tor.
She estimated the bonds' in- '
terest rate will be between 5.5
percent and 6 percent.
The maker of Sunshine'
Wheat, Fat Tire, Blue Paddle
and more is hoping to expand
into the Nebraska and Oregon `
markets next year: it
"We're still just growing incre
mentally," Owsley said. „ +
New Belgium brews are'cur"',
rently available in, Colorado,
Wyoming, New Mexico,
ington, Kansas; Idaho, Mon r�
and Texas.
A public hearing on the bond
issuance will be held May 8 at
1981 Blake Street in Denver. ,
The hearing begins at