Matt Berry, CEO of Midwest Electric, presents an economic development loan to Monica Wright and Nick Moeller of Moeller Brew Barn
(6-5-18) Midwest Electric recently approved an economic development low-interest loan for an expansion of Moeller Brew Barn from the cooperative’s revolving loan fund.
Moeller Brew Barn, located in Maria Stein, is adding a restaurant and expanding its canning and distribution business at its current site in Marion Industrial Park. The $1.5 million project will feature a wood-fire style restaurant. It will also increase brewing capacity, as the brand’s distribution network has expanded to all major markets in Ohio. Ten new jobs are expected to be created.
The Midwest Electric Revolving Loan Fund was established about 10 years ago. Seed money came from two $300,000 grants from United States Department of Agriculture (USDA) Rural Development.
Matt Berry, Midwest Electric CEO
“Due to the revolving nature of the program, we’ve been able to turn $600,000 in grants into nearly $2 million in low-interest loans to area businesses so far.”