Spencer Devon Brewing will invest more than $181,000 to expand its existing microbrewery in the City of Fredericksburg, creating a vibrant 2,500 square foot outdoor deck attracting visitors and area residents to the downtown area.
The project is projected to create a tax benefit of more than $45,000 in its first full year of operation with an estimated three new jobs being created. Spencer Devon Brewing will receive a $27,000 grant from the Virginia Tourism Growth Fund (VTGF) to assist with the development of the additional outdoor event and dining space in the City’s Central Business District.
“With 175 breweries, craft beer is a booming business in Virginia and a major driver for tourism and economic development for all regions in the Commonwealth,” said Governor McAuliffe. “The new dining and event space at Spencer Devon Brewery is an innovative use of vacant real estate in a prime location, and will help to attract travelers and residents alike looking for an authentic Virginia craft beer experience in the City of Fredericksburg. This will be a wonderful addition to the Central Business District of Fredericksburg and I congratulate Spencer Devon Brewing and the Fredericksburg Economic Development Authority on this expansion.”
“Travelers to Virginia enjoy locally-owned, experiential attractions, including craft breweries, and today’s announcement is the perfect complement to Fredericksburg’s already burgeoning craft beer and tourism scene,”said Todd Haymore, Secretary of Commerce and Trade. “Tourism is an instant revenue generator for the Commonwealth, representing more than $171 million in traveler spending and 1,600 jobs in the City of Fredericksburg last year alone. Making smart, targeted investments in tourism and encouraging continued growth is critical to a diversified, new Virginia economy.”
Spencer Devon Brewing will expand its footprint and reclaim an adjacent overgrown, vacant lot in downtown Fredericksburg, transforming it into a vibrant outdoor beer garden and community gathering space that will attract visitors and area residents. The Fredericksburg Economic Development Authority will match the grant award.
“Fredericksburg has been looking for a new location for downtown events,” said Shawn Phillips, Owner of Spencer Devon Brewing. “In addition to our brewery guests, our expansion will give downtown visitors who pick up food from local restaurants, without outdoor seating, a place to relax, enjoy our micro-brews, socialize and continue to shop and enjoy downtown Fredericksburg. Spencer Devon is the only microbrewery in downtown Fredericksburg, and its expansion will attract more craft-beer lovers to the area.”
Bill Freehling, Director of Economic Development for the City of Fredericksburg added, “Spencer Devon’s deck project will be a wonderful addition to downtown Fredericksburg, and we are grateful to the Virginia Tourism Growth Fund and Fredericksburg Economic Development Authority for helping make it happen.”
Tourism is an instant revenue generator in Virginia. In 2015, visitors to Virginia spent $23 billion, which supported 223,100 jobs and contributed $1.6 billion in state and local taxes.
About the Virginia Tourism Growth Fund
The Virginia Tourism Growth Fund (VTGF) is a Virginia Tourism Corporation program established to grow tourism development projects to include new or expanded facilities or venues for lodging, recreation, entertainment, epicurean, cultural, or destination retail products or services designed to attract travelers to the Commonwealth. Both non-profit and for-profit private sector businesses are eligible to apply. VTGF grant awards cannot exceed 15 percent of project cost and there is a minimum one to one local match of VTGF grant award. The project must create net new jobs and public financing cannot exceed 30 percent of project cost. For more information on the Virginia Tourism Growth Fund, click here.
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