By Jamie Ruiz and Brendan Palfreyman
It is a great time to be in the craft beverage industry in New York State. Through the Consolidated Funding Application (CFA), craft breweries can apply to multiple sources of funding via one application to the local Regional Economic Development Council (REDC). Eleven state agencies have made funding available through the CFA process, however, funding for those working in the beverage industry is mostly supported through the New York State Department of Agriculture & Markets.
Each year, beverage businesses may file an application for their project to their regional council. The CFA is open for applications from May 1 to July 28 of each year. Projects are then reviewed and ranked by the regional council to determine the impact of the project on the regional plan. Once reviewed by the regional council, proposals are sent to the appropriate state agency(s) for review and scoring. Scoring is finalized by October 2 and grants are awarded in December at the annual REDC Awards Ceremony.
Funding through programs such as Market New York are available for craft brewers via the CFA process. This program offered up to $2 million in funding in 2017 for craft beverage tourism, including for advertising, website design, and the hosting and promotion of events that increase visitation to craft breweries.
Aside from grant monies, over $10 million in low interest loans has just been made available by the Agriculture Loan Fund Program through the New York Job Development Authority. Eight participating lenders will loan between $50,000 and $200,000 to qualifying businesses, including craft beverage producers.
Please see www.trademarkyourbeer.com for more information about brewery trademarks. This blog is intended to provide general information on a wide range of issues, including legal issues, affecting the brewing industry. It is not intended to provide specific legal advice and no legal advice is given. You understand that merely using this blog does not create an attorney client relationship between you and any attorney at Harris Beach PLLC or Brendan Palfreyman.