SEDC: Putting SERF dollars to work for our community
Spearfish Brewing Company opened for business in February of 2018 and the community reception has been tremendous. General Manager Jon Marek says the community vibe made Spearfish a natural choice to locate he business.
“You could tell that everyone was really dedicated to growing and building the business here in Spearfish – especially this downtown area feels really vibrant.”
Spearfish Economic Development played a role in helping make those designs a reality with a $100,000 Spearfish Economic Revolving Fund – or SERF – loan. SERF loans are low interest loans with funds originating from the City of Spearfish. The application process is facilitated by Spearfish Economic Development who review applications and make final recomme
ndations for approval to the city council.
In the case of Spearfish Brewing Company, the funds were used to put in the 18-handle draft system with the majority of the funds being used to purchase state-of-the-art equipment in the brew house. SERF loans are designed to help new businesses get started in Spearfish – or to help existing local businesses expand. SEDC Executive Director Kory Menken says Spearfish Brewing was the perfect candidate for a SERF loan – criteria being a business that produces a product or offers a service, will create local jobs and will contribute revenue to the local tax base.
For both Jon and Nathan, brewmaster, the invitation to move to the Spearfish community was an easy choice. It meant the opportunity to open a brewery in a business-friendly community and the chance to enjoy its unique quality of life as an outdoor recreation destination.
“When the opportunity to move to move to Spearfish came up it was a personal dream of mine. I love the canyon, I spent years climbing in the canyon and Devil’s Tower is right next door. I think it’s become evident to me over the last 2-3 months just why Spearfish is the perfect place to build a brewery. The kind of support that locals have for dining, the plays for local bars, they receive a lot of support, even during the off-season for tourism. Locals like to get out and enjoy and support local businesses. A second brewery in this town, and even a third one coming are only going to help bring interest to this part of the Black Hills to check out a new place to drink and to eat and be a part of the Spearfish culture. This town is really just a great business place.” says Jon.
For more information on the SEDC’s loan programs, contact Spearfish Economic Development Corporation at (605)642-3832.