This is the future location of Water Street Brewing. The business was approved for a $150,000 loan from the Chautauqua County Industrial Development Agency. P-J photo by Gregory Bacon

A proposed new brewery in the city of Jamestown is receiving some additional financial assistance through a loan.

During the Chautauqua County Industrial Development Agency meeting, the Board of Directors approved a $150,000 loan to 137 Water Street Brewing, LLC. Of the loan amount, $115,000 will be for machinery and equipment, and the remaining $35,000 will be for “working capital.”

Rosemarie Strandburg with the county IDA noted that 137 Water Street Brewing is a small scale manufacturing enterprise focused on onsite production, packaging and direct sales of craft beer.

“The company will operate a seven-barrel brewing system that converts raw agriculture inputs into value-added consumer product, establishing a locally-based manufacturing operation within the city of Jamestown,” she said. “All beer will be brewed, fermented, packaged and labeled on site.”

According to Strandburg, 137 Water Street Brewing will produce 364 barrels annually, with the ability to adjust to market demands.

The manufacturing will be supported by a complimentary tap room and food service component, which will function as a “direct to consumers” channel.

The business is expected to create 15 full- and part-time jobs.

Tom Eckwahl with Water Street Brewing attended the IDA meeting virtually and discussed plans for the property.

He noted they have two acres of property, with the Chadakoin River wrapping around them.

Eckwahl discussed some of the interior remodeling underway, showing photos of what they’ve done so far.

He said once the patio is finished, patrons can gather outside and have a view of the river. “It will become a centerpiece for community events,” Eckwahl said.

The entire project is expected to cost $710,000 to complete. Strandburg noted the Jamestown Local Development Corporation previously approved a $200,000 loan.

The IDA loan will be at 4%. The part for machinery and equipment will be for 10 years, while the working capital portion will be for 7 years.

A timeline for when Water Street Brewing will open was not announced. Last fall they stated to the JLDC that they wanted to open by this summer.