Following months of speculation, Gov. Terry McAuliffe plans to announce tomorrow afternoon that Stone Brewing Co.’s much anticipated expansion is coming to Richmond’s Fulton Hill neighborhood.
In their bid to bring the company to Virginia, officials offered Stone more than $5 million in state grants late last month, sources familiar with the plans say. The city has agreed to undertake some of the construction costs, the sources say.
Stone is likely to announce an investment of about $75 million in Richmond to build a brewery and beer garden, the sources say. The complex is expected to create about 90 brewery jobs and 200 hospitality jobs.
The announcement is expected to come during a 2 p.m. event at the Executive Mansion. McAuliffe’s public schedule says the governor will make a “major economic development announcement” at that time.
Stone representatives declined to confirm news, first reported by the Richmond Times-Dispatch, that the announcement was poised for tomorrow.
Stone had named Richmond, Norfolk and Columbus, Ohio, as finalists for the project. Stone is based in San Diego and is the 10th-largest craft brewery in the country. The company has said the Richmond brewery will ease the distribution of its product around the eastern United States.