A new brewery is part of a development at 7 Stonebreak Road in Malta this year.
The brewery will occupy part of the 25,000 square feet of new commercial space being developed with $2.5 million of private investment by area commercial developer MJ Properties of Clifton Park Inc., according to the Saratoga Economic Development Corp.
The initial tenant, Unified Beerworks, will occupy over 6,000 square feet of space, supporting seven full-time jobs in its first year, SEDC said. The project is expected to grow to support 15 full-time jobs by year three. The brewer expects to create seven full-time jobs in its first year and 15 by its third.
Officials said groundbreaking is scheduled for March, with construction expected to be completed in July. It will support 50 construction jobs.
SEDC is leading the effort to promote more “spec” building inventory to help promote and retain new and growing businesses in Saratoga County. Recent analysis of the Capital Region’s commercial real estate markets shows low available inventory, the agency said.
“Since announcing our five-year Advance Saratoga strategy to grow more jobs and wages, we have been touting development of ready to use inventory of building space and sites” said Dennis Brobston, SEDC president.
“We are pleased to see proven market developers and our partners in key communities respond to keep Saratoga County at the forefront of economic opportunity,” he said. “Today, economic development needs to be ready to respond to the needs of the marketplace in real-time to keep promoting our county and to attract and retain employers. We are excited about the initial use of this site by a new craft brewer and the potential to attract other employers to these strategic sites in Malta.”
The 2.82 acres near Luther Forest Technology Campus and Northway exits 11 and 12 matches previous investment in an identical 25,000-square-foot building by MJ Properties at 9 Stonebreak Road.
SEDC is collaborating with the Saratoga County Industrial Development Agency (SCIDA) to provide tax incentives. According to SEDC, net project savings of $298,000 over 10 years are anticipated.