“We are proud to offer this loan to Stoneworks, which is helping to create new jobs here in Cuyahoga County by expanding its business operations,” said FitzGerald.
CLEVELAND — The Cuyahoga County Board of Control today approved two loans today totaling nearly $1 million to Fat Heads Brewery Co. and Stoneworks, Ltd, Inc. The loans will aid each company’s expansion efforts and are expected to create new jobs for the county.
Fat Heads Brewery Company, a Pittsburgh-based craft beer pioneer, has chosen to locate its regional distribution center in the city of Middleburg Heights. The company considered both Northeast Ohio and Pittsburgh for the relocation of their new warehouse and distribution center.
Fat Heads Brewery received $485,468. The county’s financing will aid the company in making leasehold improvements to their new location on Sheldon Road and enable them to purchase brewing and bottling equipment. The company will create 18 new jobs. The total cost of the expansion is more than $1.2 million.
“While we may not have beaten the Steelers Thursday night, we just added to our beer-related dominance,” Cuyahoga County Executive Ed FitzGerald said. “In all seriousness, we are tremendously happy to have been able to give this loan to Fat Heads Brewery for their regional distribution center. This is a win for our county, and another example of how we are building our regional economy through the growth of small businesses.”
The craft beer industry is a $101 billion industry in the United States. Fat Heads Brewery currently operates a restaurant in the city of North Olmsted.
Stoneworks is a locally-based company located in Bedford Heights and is a direct importer of European porcelain and limestone tiles, as well as more than 100 varieties of natural stone slabs, principally granite and marble. The company currently operates as a designer tile store and a granite/quartz countertop fabricator and installation company.
The county granted Stoneworks a $480,000 loan, which will provide the company with financing to make leasehold improvements to its 40,000 square foot warehouse facility. The new facility is located near the company’s showroom and will provide the company with an indoor slab facility. The new larger warehouse and distribution center will also assist the company in streamlining their production. A portion of the loan will be used to purchase a stone-cutting CNC machine. As a result of the loan, the company will retain 60 jobs and create 10 new jobs with an average annual salary of $33,000. The total cost of the expansion project is $1,646,000.
“We are proud to offer this loan to Stoneworks, which is helping to create new jobs here in Cuyahoga County by expanding its business operations,” said FitzGerald. “The county will continue to support the growth of small businesses as we know these types of expansions directly affect the economic strength of our region.”