E-Malt.com News article: USA, AR: Core Brewing & Distilling backs out of new distillery project

Core Brewing & Distilling Co. has backed out of a distillery and cooperage project in downtown Fort Smith, the Arkansas News reported on February 1.

The Springdale-based company founded by Fort Smith native Jesse Core purchased the former Times Record printing facility at 1000 Rogers Ave. in Fort Smith in late 2015 with a scheduled two-year timeline to clean out the building and begin barrel production by the fourth quarter of 2017 for an onsite distillery a few blocks from their Core Public House at 701 Rogers Ave.

Jay Richardson, vice president at Core, said on January 31 the recent decision to pull out of the project included "funding issues with the chamber." The building was cleaned out over the course of two months in early 2016.

Core Brewing & Distilling Co. is now prepared to move the project to the other side of the state where a city has "rolled out the red carpet," Richardson said. He could only say at this time the city is on the eastern side of the state.

Tim Allen, president and CEO of the Fort Smith Regional Chamber of Commerce, said the chamber continues to be in support of the Core project in downtown Fort Smith and "stands ready to assist Core with local incentives offered through the state's Tax Back and Advantage Arkansas incentive programs."

Scott Hardin, an AEDC spokesperson, wrote by email in July that representatives with Core Brewing & Distilling Co. and Allen had previously met to discuss the Fort Smith project and the incentives discussion. At that time, it was "ongoing" and Hardin said the AEDC anticipated Core would qualify for some of the AEDC's statutory incentives like Advantage Arkansas and Tax Back, "based on the investments/wages the company is projecting." Allen had been the AEDC's "key point of contact" on the incentives, Hardin added.

Core Real Estate III LLC purchased the 36,050-square-foot building at 1000 Rogers Ave. from Stephens Media on Nov. 3, 2015. According to the Sebastian County County Assessor's Real Estate Office on Tuesday, the appraised value is $560,450 and the assessed value is $112,090.

While the Fort Smith distiller/cooperage plans are scrapped, Richardson said the Fort Smith Core Public House has become their "highest producing" outlet despite expectations. There are now eight Core pubs in all and plans call for further Core pub expansions in Tulsa, Oklahoma City, Springfield, Mo., and Joplin, Mo., Richardson added. Core produced 26 different styles of beer in 2016, he added. In addition to serving as an outlet, the pubs offer market research for new beers to be introduced to a larger market.


02 February, 2017