This story first ran on BizWest.com, a BusinessDen news partner.
Prost Brewing Co. will move its headquarters from Denver to Northglenn in an expansion project that will include a new production facility, distribution center and biergarten.
The deal was announced Tuesday by Colorado Gov. Jared Polis, the Global Business Development Division of the Colorado Office of Economic Development and International Trade and the city of Northglenn.
“This exciting addition to Colorado’s nation-leading craft brewery industry is bringing over 200 good-paying jobs to Coloradans, and we are proud to congratulate Prost Brewing Company on this expansion,” Polis said in a prepared statement. “Colorado is one of the best places to do business in the country, and our spirit of entrepreneurship and innovation continues to make Colorado the best place to live, work, and raise a family.”
Officials said that Prost has outgrown its current headquarters and production facilities in Denver. Its new headquarters will be located in the Northglenn Marketplace at Interstate 25 and 104th Avenue. Prost also operates a taproom in Fort Collins and a biergarten in Highlands Ranch.
The project is expected to create 203 net new jobs and pay 154% of the average annual wage in Adams County, once full production is reached, according to a press release. Positions will include administrators, brewers, quality assurance managers, supply chain managers, engineers, hospitality, and bar and culinary management. The company has 100 employees.
“We are a family owned business and sixth-generation Coloradans. Northglenn was clearly the best choice for Prost Brewing, and we’re excited to be able to make this important move for the future of our business while staying in Colorado,” said David Deline, president of Prost Brewing. “It is incredible to feel so supported by the State of Colorado, Adams County and the City of Northglenn, and we know the talent pool, cost of doing business and proximity to the supply chain will all help us to stay competitive in the craft beer industry.”
Prost plans initially to produce 20,000 barrels of beer annually, growing to 40,000 to 50,000 barrels over the next several years, according to a statement released by the city of Northglenn.
Prost will invest $25 million over 10 years on the project and will receive about $6 million in financial incentives from the state, Adams County, Northglenn and shopping-center owner Hutensky Capital Partners, according to the release. The state incentive consists of $1.2 million in Job Growth Incentive Tax Credits over eight years.
“We are thrilled that so many partners came together to help the City of Northglenn bring Prost Brewing Company to the Northglenn Marketplace, including the State and the County. Together, we recognized the potential of this family-run business to reinvigorate the shopping center and the importance of keeping Colorado companies in-state,” said Northglenn mayor Meredith Leighty. “We’re ready to welcome Prost Brewing Company to their forever home.”
Colorado competed with San Antonio, Texas, as the new headquarters location.