E Newsletter August 2007
Historic Rochester Brewery to Expand, Add Product Lines
High Falls Brewing Co. Will Invest $4.225 Million; Retain 331 Jobs and Create 90 New Jobs
Empire State Development Upstate Chairman Daniel Gundersen announced that High Falls Brewing Co., LLC will invest more than $4 million in facility upgrades and new product lines at its City of Rochester brewery. The company will add two Seagram's product lines - Coolers and Smooth - to its family of beers and malt beverages. This investment will also allow High Falls to enter new, diverse markets, such as energy drinks. High Falls expects to retain all 331 existing jobs and create 90 new jobs over the next three years.
“As a result of this deal, High Falls Brewing will carry forward a Rochester brewing tradition. Empire State Development is happy to continue our relationship with them,” said Chairman Gundersen. “ High Falls ' investment in these new product lines is a shining example of how companies can continue to grow in Upstate.”
Founded in Rochester in 1878 as the Genesee Brewing Co., High Falls Brewing Co., LLC, is the seventh largest brewer of beer in the United States . The Rochester-based firm distributes its products to most of the United States as well as parts of Canada and a handful of overseas markets. Its brands include JW Dundee's Honey Brown Lager, Genesee Cream Ale, Genny Light, Michael Shea's Irish Amber, and Koch's Golden Anniversary Beer. High Falls also serves as a contract brewer for firms like the Boston Beer Co., with as much as half of its output bearing other labels. The company recently purchased the brand rights for Seagram's Coolers and Smooth products from Pernod Ricard.
In recognition of its investment in New York , Empire State Development and High Falls Brewing Co., LLC have agreed to a series of project milestones through which the company will be eligible to apply for up to $1.5 million in capital grants. Under the agreement with Empire State Development , funding will be phased in over three years and High Falls will receive the full amount upon reaching predetermined employment and investment targets.
High Falls has also reached an agreement with Rochester Gas & Electric for up to $400,000 in grant assistance. This grant is part of a commitment by RG&E to spend $65 million in economic development funds through 2008 to help businesses grow and to attract new businesses to the region.
Senator Joseph Robach (R, I, C, WF – Rochester) said, “It is important that we invest in Rochester's businesses to help protect jobs for our working men and women and I applaud Empire State Development 's efforts to secure resources for our area. This is another great opportunity to help one of our local employers expand their operation and grow jobs here in our community.”
Assemblyman David F. Gantt (D – Rochester ) said, “High Falls Brewing is a good company and a good neighbor. This expansion bodes well for the continued economic revival of Rochester .”
Mayor Robert J. Duffy said, “I am thrilled with the expansion that is taking place at High Falls Brewing Company. This new agreement with Pernod Ricard will provide 90 new high-paying jobs over the next four years and that's good for Rochester .”
Maggie Brooks, Monroe County Executive, said, “High Falls Brewery is a significant employer in Monroe County . This is great news for the Brewery and for our community, creating good jobs and keeping a long-time local company competitive. I congratulate High Falls Brewery and thank them for their ongoing commitment to our community.”
Tom Hubbard, Chairman of High Falls said, “We greatly appreciate the assistance being provided by Empire State Development and Rochester Gas and Electric, as well as from The City of Rochester and Monroe County . These grants will allow us to expand and equip our facilities and grow our capabilities to attract additional contract business.”
Jim Laurito, president and CEO of RG&E, said, “Rochester Gas and Electric Corporation continues to value the strong business relationship it has with High Falls Brewing Company and is pleased to provided economic development assistance for electric infrastructure improvements for this attraction project. We congratulate High Falls Brewing on its decision to make a major investment in Rochester and are pleased that our economic development assistance helped make this investment a reality.”
Empire State Development is New York 's chief economic development agency, encompassing business, workforce and community development. ESD also oversees the marketing of “I LOVE NY,” the State's iconic tourism brand. For more information, visit www.nylovesbiz.com .
Source: Empire State Development News
Press Office
585.325.1944
212.803.3740
www.nylovesbiz.com
5/4/2007
