New Markets Tax Credit Coalition

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  • Chicago,
  • IL
  • (2015)

Great Central Brewing

District: Danny Davis (D-IL07)

New Markets Tax Credit financing for a startup contract brewing business dedicated to helping small Chicago-based brewers strategically grow and expand production.

Investment

  • NMTC Amount: $5,390,000
  • Total Project Cost: $6,310,131

IMPACT

  • 65 FTE jobs
  • 30 construction jobs
  • 33,000 sq. ft. of real estate

CDEs

Investor

Project Description

In November 2015, CDF provided $5.5 million in New Markets Tax Credit financing to Great Central Brewing Company, a startup contract brewing business dedicated to helping small Chicago-based brewers strategically grow and expand production. CDF financing supported land acquisition, site preparation, and construction of a new 33,000 sq. ft. industrial facility at 221 N. Wood Street in the Kinzie Industrial Corridor on the Near West Side. In addition to the NMTC-financed real estate portion of the project, Great Central purchased and installed approximately $3.7 million in equipment at the site, allowing for capacity to brew and package 30,000 barrels annually.

MAP

Address: 221 North WOOD Street, Chicago, IL 60612

Census Tract: 17031280400

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