CDFA awards $500k to aid Smuttynose expansion



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A $500,000 grant has been approved by the New Hampshire Community Development Finance Authority to help fund Smuttynose Brewing Company's expansion into a larger facility in Hampton.Pending confirmation of the grant by the Executive Council, Smuttynose is expected to double its operational capacity with the move and create 25 new jobs, the CDFA said.According to Kevin Flynn, CDFA's communications director, at least 18 of the new jobs will be available to low-to-moderate income residents.Smuttynose is moving its operations from Portsmouth to a $16 million campus on Hampton's Towle Farm Road. The new location will feature a 42,000-square-foot production facility for on-site brewing and bottling, as well as a 95-seat restaurant.The project also includes several conservation measures, including preserving and repurposing two historic buildings on the property, a high-efficiency waste treatment system, and other energy efficiency measures. The new building is in line to be LEED Gold certified, according to the CDFA.Specifically, the Community Development Block Grant is being awarded is Rockingham County on behalf of the Coastal Economic Development Corp., which in turn will lend the money to Smuttynose.The brewer will use the capital to help purchase equipment, including three new brew tanks. Once Smuttynose pays the loan back to CEDC, the money will go into a revolving loan pool for future economic development efforts. -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW Edit ModuleShow Tags