Colorado Craft Beer Economic Impact Study Shows Explosive Growth

[PRESS RELEASE from Colorado Brewers Guild (CBG), a non-profit trade association promoting the Colorado craft brewing industry. New study by CU Leeds School of Business details importance of Colorado craft beer to Colorado economy.]

Boulder, CO. (April 24, 2012) — The craft brewing industry in Colorado provides an annual $446 million boost to the state’s economy, according to data compiled in a study released today by the University of Colorado in Boulder Business Research Division, for the Colorado Brewers Guild (CBG).

As of March 2012, Colorado had 139 licensed craft brewers totaling $101.8 million in income, and $179.2 million in total employment effect.

“Colorado craft brewing creates a dynamic impact on the Colorado economy,” said John Carlson, CBG Executive Director. “Explosive growth continues to have a huge economic effect on the state, with no sign of slowing down.”

Colorado’s brewing industry is well-positioned for future growth due to a sound regulatory system, which has a proven track record, fostering the continuing success of independent CBG brewers.

Collectively, Colorado brewers contributed nearly $446 million in output in 2011, with an estimated additional $9 million going to the state with a special beer excise tax. This tax burden is unique to Colorado brewers and is in addition to the other taxes all Colorado businesses pay.

The study also revealed that Colorado craft brewers create at least 5,800 Colorado jobs. “Craft brewers are on a double-digit growth trajectory, and the potential for new job creation is expected to climb even higher,” said Carlson.

“With 139 craft breweries and more on the way, we are the envy of the nation when it comes to brewing-up a dynamic beer culture,” said Dave Thibodeau, CBG president and founder of Ska Brewing in Durango. “CBG brewers are the catalyst for creating an electric beer culture, while contributing to entrepreneurial activity, and spurring beer tourism throughout the state.”

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