“The Buncombe County Board of Commissioners will consider almost $9 million in staggered incentive payments to New Belgium Brewing,” Magee writes. “This is your tax money being diverted to a wealthy company. We are becoming the people we set out NOT to be. No incentives for us in IL.’
Magee then tweeted out a photo of a $15.8 million promissory note that he signed with a bank to help finance Lagunitas’ Chicago facility. He signed the note, which appears to carry an interest rate of 3.5% and a term of less than two years, on Wednesday.
Here is what Magee said on financing in April:
“My peer brewers…it’s kind of a corporate approach to running a business. You got to know that they went deeply into the public trough to fund the brewing operation which I could never do in a million years. What that yielded were state employment grants, tax deferments and special dispensation of cash. If anyone reads the papers, it is a pretty dry trough. So what’s a f&^$*#@ rich business like those doing that for rather than just bearing their own weight and bringing value to a community?”
He went on to say in that interview that he didn’t even have “a little” trouble in recently attaining private financing for Lagunitas’ brewing operations.
Later on Wednesday, Magee tweeted, “In my mind this is how capitalism works-the government stays out and risk takers take risks. Any brewer that big has a bank. We are not socialists.”