October 10, 2014 - San Diego-based Stone Brewing Co. announced it has signed a formal letter of intent with the City of Richmond, Virginia, signifying the company’s interest in building its East Coast facility in the city’s Greater Fulton Community. Subject to local approvals, Stone plans to invest $74 million to construct a production brewery, packaging hall, destination restaurant, retail store and its administrative offices. Construction of the facilities will occur in phases. The brewery is anticipated to be operational in late 2015 or early 2016, with Stone Brewing World Bistro & Gardens opening a year or two after that. Ultimately, the company will employ more than 288 people.

“The search for our location east of the Mississippi River was no easy endeavor,” said Stone President and Co-founder Steve Wagner. “We received and reviewed hundreds of proposals, visited more than 40 sites, and received quite a bit of attention from communities and craft beer fans. The three finalist cities each provided diverse offerings, however, we decided to begin next-step negotiations with Richmond because of their ability to meet our extensive site requirements, subject to the city’s approval. We also feel that Richmond’s vibrant energy and impressive craft beer culture, along with the uniqueness of the property, will allow us to create a truly memorable Stone experience for our fans. We are honored by the amount of time and effort all the communities that submitted proposals put forth, and we want to specifically thank Virginia Governor Terry McAuliffe and Richmond Mayor Dwight C. Jones for welcoming us.”

Adds Stone CEO and Co-founder Greg Koch, “A facility on the East Coast will allow us to meet demand for our beer, ensure we are providing our fans with the freshest beer possible and also serve as a distribution hub for states located east of the Mississippi. We look forward to becoming an integral part of the lively craft beer community in Richmond, the state of Virginia and the entire eastern U.S.”

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