MALTA — A new craft brewery is in the works for Malta.
The Saratoga Economic Development Corp. announced the project Monday.
It entails construction of 25,000 square feet of commercial space at a cost of $2.5 million. The initial tenant, Unified Beerworks, will occupy about a quarter of that space, more than 6,000 square feet. The brewer expects to create seven full-time jobs in its first year and 15 by its third.
SEDC said a local commercial developer, MJ Properties of Clifton Park, plans to break ground at 7 Stonebreak Road in March and complete construction in July.
The 2.82-acre site sits near Luther Forest Technology Campus and Northway exits 11 and 12. MJ Properties previously made a similar investment in an identical 25,000-square-foot building next door at 9 Stonebreak Road.
SEDC is working with the county Industrial Development Agency to provide a 10-year tax incentive for the project that is expected to save the developer nearly $230,000 in local property taxes and nearly $100,000 in sales and mortgage taxes during construction.
SEDC said the tax breaks will allow the developer to offer the brewer a competitive lease rate.
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Categories: Business, News, Schenectady County