Report: Craft brewing boosts Colorado economy by $446M annually
April 25, 2012
Colorado's craft brewing businesses bolster the state's economy by $446 million annually, according to an economic impact study released Tuesday by the University of Colorado's Leeds School of Business for the Colorado Brewers Guild.
Of the 141 breweries licensed by the Colorado Liquor Enforcement Division in March 2012, all but two were craft breweries, according to the report from the Leeds School's Business Research Division. Those 139 craft brewers — and related suppliers including hop growers, barley farmers and steel fabricators — posted $179 million in income, $307 million in total value added and $446 million in output.
The 139 craft brewers directly employ 4,170 people and indirect or induced employment of 1,630 workers, according to the report.
Officials estimate that the state will collect an additional $9 million in beer excise taxes.