Rochester, NY – Just weeks after announcing it will add 100 jobs, the Genesee Brewery hosted a press conference with U .S. Senator Chuck Schumer regarding a new piece of legislation that will help the brewery continue to grow. If passed, the Brewers Excise and Economic Relief Act will save the brewery money that can be reinvested in the business, brands and local economy.
The Genesee Brewery pays more than $50 million in excise taxes annually. Breweries like Genesee currently pay a $7 excise tax on the first 60,000 barrels of beer they brew each year. If the BEER Act succeeds, that tax would be cut in half to $3.50 per barrel. New York’s senior U.S. Senator, Chuck Schumer, is one of the lead proponents of the legislation that will help American-owned companies like North American Breweries and the nation’s 1,600 microbreweries compete with the foreign-owned multi-national beer companies that dominate the U.S. market.
“Hard-working men and women have made high-quality Genesee Beer for 100 years. Sen. Schumer’s legislation will help continue that tradition, allowing us to grow our business and create more jobs at facilities like the Genesee Brewery, “ said Richard Lozyniak, CEO for North American Breweries. “We applaud the Senator for his leadership and for recognizing the important impact breweries have on upstate New York and national economies.”
In addition to the relief provided by the BEER Act to the first 60,000 barrels produced, the legislation also would cut the tax on the next 1,940,000 barrels produced by $2.
“Small breweries throughout Upstate New York not only brew great beer, they also create great jobs. In fact, the Genesee Brewery just announced it is adding 100 more of them right here in Rochester.” Schumer said. “By cutting taxes for these small businesses, we can help grow the economy and put even more New Yorkers back to work in stable, good-paying jobs. Breweries are the crown jewels of so many of our communities, and many of them have renovated charming old warehouses in downtowns across the state. Putting more money back into these businesses will be good for economic development, good for jobs, and good for New York.”
According to the brewers association, this tax cut would have saved small brewing companies more than $13 million nationwide in 2008. And according to a Harvard study of the proposal, it is predicted that the BEER Act’s passage would boost economic activity among small breweries by more than $115 million in the first year and more than $733 million over the first five years. That would be nearly $40 million in tax savings for an industry that employs New Yorkers across the state.
About The Genesee Brewery
The Genesee Brewery, based in Rochester, New York, is one of the largest and oldest continually operating breweries in the United States and is part of North American Breweries. In 2010, the Genesee Brewery earned AIB Certification, a nationally recognized industry designation for quality excellence in food, beverage, and brewing manufacturing practices and product safety. The brewery makes the historic Genesee line of beers, Seagram's Escapes, the Original Honey Brown Lager as well as Dundee Ales and Lagers family of craft beers. The Genesee Brewery also manufactures beer and other alcoholic and non-alcoholic beverages under contracts on behalf of other companies.
Please drink responsibly.
The Genesee Brewery pays more than $50 million in excise taxes annually. Breweries like Genesee currently pay a $7 excise tax on the first 60,000 barrels of beer they brew each year. If the BEER Act succeeds, that tax would be cut in half to $3.50 per barrel. New York’s senior U.S. Senator, Chuck Schumer, is one of the lead proponents of the legislation that will help American-owned companies like North American Breweries and the nation’s 1,600 microbreweries compete with the foreign-owned multi-national beer companies that dominate the U.S. market.
“Hard-working men and women have made high-quality Genesee Beer for 100 years. Sen. Schumer’s legislation will help continue that tradition, allowing us to grow our business and create more jobs at facilities like the Genesee Brewery, “ said Richard Lozyniak, CEO for North American Breweries. “We applaud the Senator for his leadership and for recognizing the important impact breweries have on upstate New York and national economies.”
In addition to the relief provided by the BEER Act to the first 60,000 barrels produced, the legislation also would cut the tax on the next 1,940,000 barrels produced by $2.
“Small breweries throughout Upstate New York not only brew great beer, they also create great jobs. In fact, the Genesee Brewery just announced it is adding 100 more of them right here in Rochester.” Schumer said. “By cutting taxes for these small businesses, we can help grow the economy and put even more New Yorkers back to work in stable, good-paying jobs. Breweries are the crown jewels of so many of our communities, and many of them have renovated charming old warehouses in downtowns across the state. Putting more money back into these businesses will be good for economic development, good for jobs, and good for New York.”
According to the brewers association, this tax cut would have saved small brewing companies more than $13 million nationwide in 2008. And according to a Harvard study of the proposal, it is predicted that the BEER Act’s passage would boost economic activity among small breweries by more than $115 million in the first year and more than $733 million over the first five years. That would be nearly $40 million in tax savings for an industry that employs New Yorkers across the state.
About The Genesee Brewery
The Genesee Brewery, based in Rochester, New York, is one of the largest and oldest continually operating breweries in the United States and is part of North American Breweries. In 2010, the Genesee Brewery earned AIB Certification, a nationally recognized industry designation for quality excellence in food, beverage, and brewing manufacturing practices and product safety. The brewery makes the historic Genesee line of beers, Seagram's Escapes, the Original Honey Brown Lager as well as Dundee Ales and Lagers family of craft beers. The Genesee Brewery also manufactures beer and other alcoholic and non-alcoholic beverages under contracts on behalf of other companies.
Please drink responsibly.