The value of the Brewery Jobs Bill is more than the cost of the growlers or six packs that would be sold.
The real value from take-home sales from the brewery is in brand-building and the confidence from the low-volume but high-margin revenue of direct sales that leads to reinvestment. These two components are critical for a small business trying to grow in the highly-competitive market of craft beer. This is particularly true when current laws in Alabama put local businesses at a competitive disadvantage with other states.
[pullquote]With a relatively high diversity index and positive economic impact potential, continued emphasis on this small but growing industry is consistent with progressive public policy.
–Economic Impact Study[/pullquote]
Earlier this year, we commissioned the Center for Economic Development and Business Research at Jacksonville State University to analyze the economic effects of SB214 to the local economy if passed. We were specifically interested in total economic impact, job creation, and tax implications to local and state governments.
We received the Economic Impact Analysis this week. Among the study’s findings are the following, with the study expecting the impact to be realized within 3 to 5 years of decreased regulations:
- Total employment (direct, indirect, and induced) increased by 655 jobs
- Total economic output increased by $100,970,039
- Total tax revenue incrased by $12,371,281
- State and local tax revenue increased by $6,479,083
Unfortunately, this legislation did not pass in 2015. We are now looking forward to working with the Alabama Alcoholic Beverage Study Commission this summer.