October 4, 2019

Quality Jobs, Waterfront Revitalization

Astoria, Oregon

Quality Jobs, Waterfront Revitalization

The Fort George Brewery in Astoria, Oregon is developing a 124,000 square foot waterfront campus, repurposing a former fish cannery to expand their production capacity. The project, partly funded through a $12 million New Markets Tax Credit investment, brings 35 quality jobs to Astoria and honors its history as a center of salmon fishing.
For Fort George Brewery + Public House it’s always been about more than the beer. Co-founder Chris Nemlowill explains, “Our work is about supporting the community … It’s about creating a future for our kids and our town. Astoria was a depressed community when I was growing up. I love … being part of a team that’s creating something.”

Since its founding in 2007, Fort George has played a big part in Astoria’s revitalization. Early success and rapid growth inspired Nemlowill and co-founder Jack Harris to purchase two historic buildings spanning an entire city block. Craft3, seeing potential community benefits and a strong business, has been a financing partner since their early days.

In 2020, we used a $12 million New Markets Tax Credit investment to provide capital for Fort George to develop a waterfront campus on the site of the former Samuel Elmore Cannery. This major project brings 35 quality jobs to Astoria, Oregon and will be an enduring community resource.    

For Craft3, it’s always been about more than simply making loans. We’re a trusted advisor and advocate. We learn about the businesses we serve, connect entrepreneurs to resources, and support them after their loan closes. We also focus on projects like this one that offer broader community impacts — good jobs, lasting economic development, and a connection to place and history.

Watch a video on Craft3’s work with Fort George Brewery + Public House.