CCIDA approves loans for new brewery in Westfield
The Chautauqua County Industrial Development Agency Board approved loans for a new brewery in Westfield.
The board approved two Al Tech revolving loans for 3811 Holdings, LLC who does business as Ghostfish Brewing Company East. The first loan was for $65,902 for machinery and equipment and the second loan was for $100,000 for working capital.
The company will use the funding to set up brewing production in a 5,100 square foot space at the Grape Discovery Center. Ghostfish produces gluten-free craft beers.
The IDA board also approved a revolving loan from Al Tech to an Erie, Pennsylvania, print shop owner to purchase MW Charts in Jamestown.
Barry Sharpwho own Sharp Printing Servicesplans to purchase the building, equipment and assets of MW Graphics located at 909 North Main Street.
IDA Business Development Manager Carole Rasmussen said IDA is partnering with Cattaraugus County Bank for the deal: “The total cost of their project is $174,500. Catt County Bank will provide a loan of $75,000 over ten years. He asks the IDA for $60,000 and an Al Tech loan that includes some working capital and part of the building. The owners are, like him, very confident with him, he has a great relationship with them, so they are ready for $20,000 for a five-year loan.
Rasmussen said Sharpe will also invest $19,500 in equity. She added that the two owners will remain, with another employee being added in the future.
Lawton Boat Engines bought the old one Fountain Bowl on Fluvanna Avenue with plans to turn it into a showroom and boat storage.
The IDA has also approved a 15-year PILOT for real estate and sales tax abatement. The total cost of the project is $945,000 and will create 6 construction jobs and then 18 full-time jobs over the next three years.
Lawton hopes the boat storage will be complete by September and the showroom will be complete by April 2023.