MassDevelopment is a fan of craft beer. The Massachusetts development finance agency and land bank, works with businesses, nonprofits, banks and quite a few craft breweries to stimulate economic growth across the Bay State. Last year alone, MassDevelopment financed or managed 356 projects generating investment of more than $1.69 billion in the Massachusetts economy. That’s awesome. Here’s another awesome tidbit.
MassDevelopment just announced its provided a $276,250 equipment loan to Harper Lane Brewery to help the company buy brewing equipment for its proposed facility at 16 Wareham St. in downtown Middleborough.
The equipment includes a canning line, kegs, a keg washer, tanks, refrigeration and HVAC wall mount units. Harper Lane Brewery will be the town’s first brewery and taproom and will also feature a small outdoor beer garden. The taproom is expected to open between July and August 2023.
“Small businesses are the heart of Massachusetts’ downtowns and commercial districts,” said Secretary of Economic Development Yvonne Hao, who serves as chair of MassDevelopment’s board of directors. “MassDevelopment’s low-cost financing tools provide these businesses with the capital necessary to buy equipment or invest in real estate, spurring new jobs, economic activity, and positive growth for cities and towns across the state.”
“Breweries create jobs, draw customers downtown, and complement local businesses,” said MassDevelopment President and CEO Dan Rivera. “MassDevelopment is proud of our history advancing the craft beer industry in Massachusetts and excited to help Harper Lane Brewery buy equipment to fit out Middleborough’s first taproom.”
“We are so excited for this new local business to open in historic downtown Middleborough and look forward to seeing Harper Lane’s successful future in our town,” said Middleborough Town Manager James McGrail. “We would also like to thank MassDevelopment for helping this local business take the steps needed for their success.”
Harper Lane Brewery is a small-scale brewery established in 2018 by Michael Pasalacqua, who currently leases space as a tenant brewery at Independent Fermentations Brewing Company. As a tenant brewery, Harper Lane Brewery has been in complete control of its brewing process and currently offers 13 different brews. The proposed taproom at 16 Wareham St. will have the capacity to produce 728 barrels of beer a year.
“We have been brewing our beer on a shared system, fermenting, packaging and delivering our beer ourselves over the last 5 years,” said Harper Lane Brewery Owner Michael Pasalacqua. “It feels good to finally build a taproom in our hometown.”
MassDevelopment has helped many breweries in Massachusetts increase operations, create jobs, and provide an economic boost to cities and towns across the Commonwealth. The agency has provided tax-exempt bonds, loans, and guarantees for companies including Artifact Cider, Brockton Beer Co., Great Marsh Brewing Co., Idle Hands Craft Ales, Naukabout Beer Co., Newburyport Brewing Co., Night Shift Brewing, Notch Brewing, RiverWalk Brewing Co., Tree House Brewing Co. and more.