Hundreds of possible locations competed to spend tens of millions to entice a brewery to Virginia:
But at the risk of behaving like the skunk at a beer-garden party, we shouldn’t let the moment pass without noting that the incentives the brewers will get are substantial. Richmond is issuing $23 million in bonds to build the brewery and an additional $8 million to build the restaurant. Stone also will get a $1.5 million economic development grant and a $500,000 sustainability grant.
McAuliffe — who installed a kegerator with Stone brew in the Executive Mansion — is kicking in $5 million from the Governor’s Opportunity Fund, aka the Official Slush Fund of the Commonwealth. No surprise there. Virginia’s future governor put his GreenTech Automotive plant in Mississippi because that state offered more of other people’s money, and “I have to go, obviously, where they’re going to put incentives.”
Supposedly, Stone will pay back the debt for the brewery. Details as to how — or if — the other $8 million will get paid back are a little sketchier.