The Future is Bright for Craft Beer and the Craft Brewery Market
The industry in Florida was once dominated by mid-sized regional breweries until the 1950s, when national macrobrewers began to build their own facilities in the state while gradually buying up most of the existing small and middle-sized breweries. That trend changed significantly in 2001 when state laws were modified to make it easier to operate a craft brewery in Florida. Craft breweries are allowed to sell product directly to the public as long as it is consumed on site.
This changing economic model has lead to broad growth and has benefited a greater number of metro areas, rather than just the small number of markets where the large traditional major breweries are based. In a market once dominated by a few major producers, today roughly two-thirds of the state’s breweries produce less than 500 barrels of beer annually.
Intuition Ale Works recently completed a renovation of over 25,000 square feet within the former Noland Plumbing Building. Originally built in 1946, the property has been vacant since 2002. The facility is located along Bay Street in the East End of downtown, next to the Doro Fixtures Building which is also being prepared for a large redevelopment. The new brewery features a production facility, two bars, event space and an in-house restaurant from local stalwart Black Sheep.
The state of Florida has the 11th most craft breweries in operation within the United States, although the state only ranks 43rd in the country when measuring craft breweries per capita. Many see Florida’s low per capita ranking as a sign that the craft beer market in Florida is not as saturated as in peer states. This can lead to ample opportunities for new entrants into the market.
Wicked Barley Brewing recently constructed a 7,000+ square foot brewery on a 2.33 acre site off Baymeadows Road, which features a tasting room, restaurant, outdoor space and boating facilities.
Based on the number of businesses that are either under construction or have signed leases to open craft breweries, eight more breweries occupying more than 55,000 square feet of commercial space will come to market by the middle of 2017. Nearly two-thirds of that absorption will be located within Jacksonville’s urban core.
NEXT: A LOOK AT NEW BREWERIES COMING TO MARKET