Craft breweries raise property values.
According to one study, conducted by he University of Toledo and the University of North Carolina, condominiums in center-city neighborhoods increased in price by 3% after a brewery opened within a half mile.
The price of single-family homes went up almost 10%.
Local craft breweries seem to be an attractive amenity to higher-income, millennial home buyers.
The perception of them is quite different from that of liquor stores.
Craft breweries tend to be located in neighborhoods that have recently experienced economic distress.
These breweries often play a part in revitalization efforts of a community by restoring old, abandoned buildings.
The craft brewing industry adds $76 billion to the American economy and has created 500,000 jobs–
135,000 of which are in breweries or brewpubs themselves.
Craft breweries add to property tax revenues for local governments, and for many people, a place to go to socialize.
Source: Journal Growth and Change: