Craft breweries generated billions of dollars for the New York State economy last year, according to a new report from the New York State Brewers Association.
According to the association, breweries contributed $5.4 billion to the state economy, including money generated by the breweries and taprooms, beer sales, supplier impact, employee wages, taxes, and visitors.
The association says Monroe County’s 26 breweries created $679,499,664 in economic impact alone.
The Brewers Association says the report shows that the craft beer industry now rivals New York’s robust wine industry.
“Thanks to great beer, craft-friendly legislation, and continued support from government leaders on both sides of the aisle, we can say that New York craft beer is a true manufacturing success story throughout the entire state,” said Paul Leone, executive director.
The study breaks down the breweries’ 2018 economic impact as follows:
- Total Economic Impact: $5.4 billion
The combination of direct economic, supplier and induced economic impact.
- Direct Economic Impact: $3.5 billion
The impact of the industry’s three-tiers: brewing, wholesaling and retailing, in addition to the tourism impact of visitors to breweries and tap rooms.
- Supplier Impact: $1.1 billion
The production and sale of goods and services across a multitude of sectors, such as purchasing equipment and bottles, banking and marketing services and government jobs for the regulation of craft beer related businesses.
- Induced Economic Impact: $771 million
The spending of wages earned by employees in the direct and supplier sectors, such as dining at restaurants or attending universities.
- Employment: 19,918 jobs
The total number of jobs supported by direct, supplier and induced impact. New York’s craft beer industry directly created over 10,627 jobs, generating $722 million in wages.
- State and Federal Taxes: $545 million
The taxes paid by the businesses and their employees, as well as the excise and sales tax revenues of in-state consumption.
- Visitors: 48.6 million
The number of customers served at New York State craft breweries, of which 8.9 million were tourists.