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Economy

Study shows beer industry has $332 billion in economic impact

The production, distribution and sale of beer supports roughly 2 million American jobs. The biennial Beer Serves America report indicates the economic impact is $332 billion.

This information comes after the industry successfully made it through the pandemic.

Jim McGreevy is President and CEO of the Beer Institute. He says in Michigan beer supports 1,300 agriculture jobs, 2,000 brewing jobs, 3,000 in manufacturing 5,000 in distribution and nearly 30,000 retail jobs.

“That’s nearly 70,000 people in the state of Michigan," McGreevy said. "All the breweries and distribution companies that are in your state for a nearly $10 billion economic contribution".

While the beer kept flowing during the pandemic, many of those retail jobs were temporarily or permanently lost with health restrictions closing brew pubs curbing virus spread. Across the nation, retail beer sales dropped $20 billion. McGreevy explains that early on during the pandemic federal and state governments made beer production and distribution essential.

“Hard to make up that $20 billion drop in retail beer sales, but brewers found ways to get their products to consumers and consumers responded," McGreevy said.

Brewers providing carryout collaborated and took advantage of PPE loans. McGreevy says the industry is largely stable and on the rebound.

“This summer we’re just hoping for a boom in the hospitality industry," he said. "Bars and restaurants and beer’s going to be there to help that".