TEXAS – As unemployment fell, the Lone Star State saw a sharp uptick in craft breweries, according to a new CBRE report.
Over the course of 12 years, the number of craft breweries in Texas has expanded from 20 breweries in 2005 to 218 breweries in 2017—an increase of 990 percent.
The commercial real estate industry has benefitted from the explosion of suds throughout the state with the total square footage occupied by craft breweries expanding by 265 percent from 2005 to 4.8 million sf in 2017.
Texas craft breweries were producing more than 1.06 million barrels of beer (roughly the equivalent of 149 million bottles) by the end of 2016.
In 2014 the economic impact of craft breweries on Texas was approximately $3.8 billion through production, sales, and non-beer product sales.
Click here to view CBRE's full report.
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