MassDevelopment provides a $700,000 loan to Night Shift Brewing

March 13, 2014 - Financial Digest
MassDevelopment has provided a $700,000 loan to Night Shift Brewing, a microbrewery that uses unique ingredients for its small-batch beer. The company is using loan proceeds for its expansion from a 3,000 s/f facility on Charlton St. to a 16,000 s/f space at 87 Santilli Hwy. The loan will finance equipment and renovations at the new building, which will house the brewing operations and taproom.
"Night Shift Brewing shows how with hard work and creativity, Massachusetts entrepreneurs can transform their passion into a profession," said MassDevelopment president and CEO Marty Jones. "We're pleased to invest in Night Shift's expansion in a Gateway City, helping the company meet demand and share its creation around the Commonwealth and beyond."
Launched in March 2012 by Robert Burns, Michael O'Mara, and Michael Oxton, Night Shift Brewing sells to customers at its taproom and to liquor stores, bars, and restaurants in greater Boston. The brewery has also exported to Denmark and plans to pursue more exporting as it builds capacity.
Because of Night Shift's work overseas, the loan was enhanced by a MassDevelopment export guarantee. In addition to selling beers with ingredients such as habanero peppers or cacao nibs from Somerville's Taza Chocolate, the company offers a "Barrel Society" for loyal customers, similar to community-supported agriculture farm shares.
"We're incredibly excited to work with MassDevelopment on this," said Michael Oxton, one of Night Shift's three co-founders. "Our once tiny brewery is growing significantly with this change, and we can't wait to share the new taproom and brewing facility with all of our local supporters in just a few more weeks. Our production will increase dramatically with this upgrade, too, so Boston should expect to see a lot more Night Shift on the shelves and on tap in 2014."
MassDevelopment, the state's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2013, MassDevelopment financed or managed 350 projects generating investment of more than $2.4 billion in the Massachusetts economy. These projects are projected to create more than 7,000 jobs and build or rehabilitate 800 residential units.
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