New Belgium 100% employee owned, expanding into N.C.

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Fort Collins-based New Belgium Brewing announced today that its Employee Stock Ownership Program has purchased the balance of company shares, and that it has hired a construction company to build a new facility in Asheville, North Carolina.

New Belgium, known for its popular brews such as Fat Tire Amber Ale and Ranger India Pale Ale, has been partially owned by employees since 2000.

The company also said it plans to build a 150,000-square-foot facility in Ashville, known as “Beer City USA.”

Minneapolis-based Adolfson & Peterson Construction won the contract to build the brewing facility.

New Belgium received $13 million in incentives to be paid out between now and 2024 as long as the brewer invests at least $140 million locally and hires at least 125 new local employees.