Mark Carney: 150,000 firms not fully ready for no-deal Brexit

first_imgBut the speech was overshadowed by an incident in which Tory MP Mark Field appeared to grab a climate change protestor and forcibly eject her from the room. “But it doesn’t mean they are fully ready, in fact far from it,” he added. James Warrington Carney last night spoke at the annual Mansion House bankers’ and merchants’ dinner in the City, in what was likely his last ever speech at the famous event. whatsapp Mark Carney: 150,000 firms not ready for no-deal Brexit The Bank of England governor said the companies still did not have the necessary paperwork and while many had built up contingency stocks, these would only last “weeks”. Carney also rejected a claim by Tory leadership frontrunner Boris Johnson, who said the UK could secure a 10-year grace period to avoid paying EU trade tariffs after a no-deal Brexit. The Bank of England boss instead stated the return of trade tariffs on goods shipped to the EU would be “automatic”. The outgoing governor praised Facebook’s proposed global payments system and said the Bank will carry out a stress test on financial institutions to see how they would cope with a climate crisis. “Business will be reliant on what the governments are able to do in order to keep the ports open, the trade flowing,” he told the BBC’s Today programme. LONDON, ENGLAND – JUNE 20: Governor of the Bank of England Mark Carney delivers a speech during the annual Mansion House dinner on June 20, 2019, in London, England. Greenpeace volunteers wearing red evening dress with sashes reading “climate emergency” gatecrashed and disrupted the beginning of Chancellor Philip Hammond’s Mansion House speech. (Simon Dawson – WPA Pool/Getty Images) “We should be clear that not having an agreement with the European Union would mean that there are tariffs, automatically, because the Europeans have to apply the same rules to us as they apply to everyone else,” he said. Roughly 150,000 UK businesses are not ready to keep exporting to the EU in the event of a no-deal Brexit, Mark Carney has said. Read more: Mark Carney says investment funds could risk global economy amid Woodford suspension More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Read more: BoE’s Mark Carney cautiously welcomes Facebook’s new currency Libra Carney said the UK’s financial system would be resilient in the event of a no-deal Brexit, and that three-quarters of UK businesses have done as much as they can to prepare. Share whatsapp Friday 21 June 2019 8:48 am Tags: Brexitlast_img read more

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Watch: Your mouth is full of bacteria blooming. And it’s beautiful

first_img By Hyacinth Empinado May 4, 2016 Reprints Hyacinth Empinado Meet your plaqueVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard ShortcutsEnabledDisabledPlay/PauseSPACEIncrease Volume↑Decrease Volume↓Seek Forward→Seek Backward←Captions On/OffcFullscreen/Exit FullscreenfMute/UnmutemSeek %0-9 facebook twitter Email Linkhttps://www.statnews.com/2016/05/04/mouth-full-bacteria-blooming-beautiful/?jwsource=clCopied EmbedCopiedLive00:0001:2601:26  Please enter a valid email address. [email protected] Leave this field empty if you’re human: They used a technique called combinatorial labeling and spectral imaging fluorescence in situ hybridization (CLASI-FISH), which allowed them to take photos of up to 15 types of bacteria at the same time.“When I first saw the results, it was like, ‘Wow!’” Borisy said. “What we saw exceeded our greatest expectations.”They found highly organized bacterial communities that had layers where only certain types of bacteria mixed and mingled. Some bacterial communities were so organized that the researchers developed some names to capture the visual patterns they saw, including “the hedgehog” and “the cauliflower.”Oxygen-loving bacteria lived at the periphery. Filaments of Corynebacterium matruchotii jutted at the bottom, like roots, and were dotted by bacteria like Streptococcus and Porphyromonas at their tips.In between them was a mix of bacteria that usually thrive in areas without oxygen, like Lautropia, Capnocytophaga, and Fusobacteria.Their stunning images were published in the Proceedings of the National Academy of Sciences in January.The team hopes that knowing how bacteria are organized will help guide future studies of microbiomes, the bacterial communities writhing and thriving on every crevice. There are entire cities of bacteria inside your body. Here is the metropolis in your tooth scum. Hyacinth Empinado/STAT About the Author Reprints Related: Thanks to advances in DNA sequencing, scientists know the names of a lot of the bacteria that live in your body, but they don’t necessarily know how those bacterial communities are organized.To start their exploration into the microbial unknown, Borisy and his team needed to pick a spot and do a little detective work.advertisementcenter_img In the LabWATCH: Your mouth is full of bacteria blooming. And it’s beautiful Multimedia Producer Hyacinth creates videos and animations for STAT and is the senior producer of “The Readout LOUD” podcast. They focused on plaque — the thin film of bacterial gunk coating our mouths — specifically the plaque living on our teeth.Mapping the bacteria required creating a set of tags to identify each of them. Since there may be hundreds of bacterial species living on our teeth, the researchers needed to figure out which species were most abundant.They mined the Human Oral Microbiome Database and the Human Microbiome Project for clues and came away with a list of 13 types of bacteria that were usually found on teeth.The scientists then designed a set of fluorescent probes for each microbe. Each probe sticks to a unique stretch of RNA within the organism and gives off a certain color when excited by a pulse of light.With the list and probes on hand, the scientists scraped plaque off healthy volunteers near the gumline using floss or a toothpick. The specks were mixed with a solution containing the tags and then put under a microscope. Episode 1: We are a constellation of our microbiome and ourselves There are entire cities of bacteria inside your body, and Gary Borisy is determined to map them.But there’s a problem.“You don’t have the addresses. You don’t have a GPS. You don’t know where they are,” said Borisy, a senior research investigator at the department of microbiology at the Forsyth Institute in Cambridge, Mass. “We’re trying to provide a piece of the puzzle to figure out how the city of microbes works by seeing where they live and who lives next to what.”advertisement Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. Privacy Policy @sayhitohyacinthlast_img read more

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Portlaoise business does their part and features in emotional episode of DIY SOS

first_img Pinterest Pinterest News RELATED ARTICLESMORE FROM AUTHOR SEE ALSO – Brand new outdoor market set to open in Laois town this week The latest episode of DIY SOS was a particularly emotional one and described by host Baz Ashmawy as its “hardest and most heartbreaking story yet”.The programme focussed on a young family from Tipperary – Sinead Barry (34) whose husband Michael died from cancer last year leaving behind three young children, Nicole (14), Rowen (7) and Keeva (2). He had only been diagnosed four months earlier.At the time he was in the middle of building the family’s new home, prompting Michael’s sister Trina to get in touch with the RTE show.Over 100 volunteers duly got involved, providing their services for free and finishing the house in nine days.And a Portlaoise business was one of those that came forward to offer their support.First Choice Tiles and Bathrooms, which is based on Fr Browne Avenue just up from O’Moore Park and owned by the Walsh family, provided the tiles for the splashback feature in the kitchen as well as for the bathrooms.“We were very honoured to be part of this special project,” said Paraic Walsh, “and we were delighted we could help out.”“Tonight’s EP of #DIYSOSIrl  was one of the hardest and most heartbreaking stories I’ve ever had to be part of as a presenter,” wrote Baz Ashmawy on his Instagram. Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Home News Community Portlaoise business does their part and features in emotional episode of DIY… NewsCommunity “If you were in anyway part of this thank you from the bottom of my heart, you’ve restored my faith at a time when it would be easy to lose it!“So many people have to deal with the loss of someone who’s an adored and essential part of their family. It’s just so f*****g unfair.“I learned a lot from Sinéad Barry. She is a wonderful Mum and such a strong person. I also learned a lot about her husband Michael from all the people on site. TAGSFirst Choice TilesParaic Walsh Electric Picnic organisers release statement following confirmation of new festival date WhatsApp Facebook Twitter Twitter Portlaoise business does their part and features in emotional episode of DIY SOS Facebook Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role WhatsApp “The only respite or form of remedy was to see volunteers become accountable and take responsibility for a family who were left devastated and fix things for them fueled solely on kindness and love.“To see them do this for another man and for his family has changed my mindset for ever. The world is filled with wonderful people. Really. I’ve seen it right in front of me.” By Steven Miller – 28th October 2020 Electric Picnic “What a wonderful man he was and how much he was loved by his brothers and sister and all his family. By his beautiful children Nicole, Rowen and baby Keeva.“He was loved by a community and also by complete strangers. My heart broke for the Barry family. Electric Picnic Previous articleNew outdoor market set to open in Laois town this weekNext articleLaois Gardai remind domestic violence victims that travel restrictions do not apply Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of LaoisToday.ie. From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point.last_img read more

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Manulife AM adds new global natural resources equity team

first_img NEO, Invesco launch four index PTFs Franklin Templeton renames funds with new managers IE Staff Manulife Asset Management (Manulife AM) has expanded its global investment capabilities by naming Craig Bethune and Diana Racanelli as portfolio managers on a new global natural resources equity team. Both join from TD Asset Management Inc. and are based in Toronto, further strengthening Manulife AM’s Canadian-based presence. Related news Share this article and your comments with peers on social mediacenter_img Change to Counsel Global Small Cap Fund Together, they co-lead the team and report to Christopher Conkey, global chief investment officer. Bethune served as a portfolio manager with his prior employer since 2008. Most recently he was the lead manager on TD Energy Fund and the TD Resource Fund and co-manager on TD Canadian Equity Fund with $3 billion in assets. From 2002 to 2006 he was with the Ontario Municipal Employees Retirement System as portfolio manager – public equity group. Prior to that, Bethune held analyst and research positions with Credit Suisse Canada and other firms. He holds an MBA from the University of Toronto, and graduated from McGill University with a Bachelor of Commerce Degree. He is a CFA charterholder. Racanelli most recently was a vice president and director with her prior employer, where she served as lead manager of TD Precious Metals Fund and was co-manager of resource and energy funds. From 2005 to 2007 she was with CIBC Global Asset Management as vice president, Canadian equities and before that as vice president, global equity research, from 2003 to 2005. She started her career in the industry on the sell-side working for both Burns Fry Limited and Scotia Capital Markets and was a base metals mining analyst before her move to AIC Limited on the buy-side. Racanelli has an Honours B.A. in Economics and English from the University of Toronto and is a CFA charterholder. Keywords Fund managersCompanies Manulife Asset Management Facebook LinkedIn Twitterlast_img read more

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SEC votes in favour of U.S. national market system plan

first_img IIROC drops expanded OBSI reporting proposal Keywords Self-regulatory organizationsCompanies Securities and Exchange Commission Related news James Langton The U.S. Securities and Exchange Commission (SEC) voted in favour to adopt a consolidated audit trail (CAT) on Tuesday that would replace the existing system of reporting to various self-regulatory organizations (SROs) in a bid to enhance oversight of the U.S. equity and options markets. The national market system plan was jointly submitted by the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) to create a single, comprehensive database to track all of the trading activity on the equity and options markets. When does poor service become a regulatory issue for online brokerages?center_img IAP to focus on SROs, taskforce in 2021 Share this article and your comments with peers on social media The SEC altered several aspects of the plan in response to public comments and recommendations from the SROs. For example, the SEC strengthened the data security requirements, tightened the clock synchronization standards for SROs, revised the governance plan and accelerated the deadline for the SROs to submit proposals to retire their existing data reporting systems to reduce the burden on broker-dealers of reporting to multiple systems. Within two months of the plan’s approval, the SROs must select an organization to build and operate the CAT. The SROs will be required to begin reporting to the CAT within one year of its approval, with large broker-dealers required to report the next year, and small broker-dealers the year after that. “With the approval and ultimate implementation of CAT, the commission’s regulatory capacity strongly embraces 21st century technology, enabling the commission and the SROs to harness data and technology to more effectively oversee market participants,” says SEC chairwoman Mary Jo White in a statement. “Through the CAT, regulators will have more timely access to a comprehensive set of trading data, enabling us to more efficiently and effectively conduct research, reconstruct market events, monitor market behavior and identify and investigate misconduct,” she adds. Facebook LinkedIn Twitterlast_img read more

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Mercer Canada names new CIO

first_img TD getting new head of private wealth, financial planning Keywords Appointments,  Wealth management Share this article and your comments with peers on social media Prior to joining Mercer Canada, Volynsky held senior roles with major investment firms in Canada and the U.S., and worked for one of the largest pension funds in North America.“Rachel’s depth of knowledge about portfolio construction and investment management firms in the institutional and retail markets will be a tremendous strength as we look to drive better outcomes for our clients, for people and for society,” Yvan Breton, partner and head of OCIO services at Mercer Canada, said in a statement. Toronto-based Mercer (Canada) Limited has appointed Rachel Volynsky as chief investment officer.Volynsky, based in Toronto, will lead Mercer’s OCIO (outsourced chief investment officer) investment team in Canada. She brings 20 years of capital allocation experience to the role, according to a release. Related news IE Staff CETFA elects new board leader 123RF PenderFund names new SVP for investments Facebook LinkedIn Twitterlast_img read more

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Canada supports nation rebuilding efforts of Indigenous groups 18 December

first_imgCanada supports nation rebuilding efforts of Indigenous groups 18 December From: Crown-Indigenous Relations and Northern Affairs CanadaToday, Gary Anandasangaree, Parliamentary Secretary to the Minister of Crown-Indigenous Relations and Michael McLeod, Member of Parliament for the Northwest Territories, announced a total of $848,597 in Nation Rebuilding funding for both the Dene Nation and the Gwich’in Tribal Council in support of their respective efforts towards self-determination.The Government of Canada is rebuilding the nation-to-nation, Inuit-Crown and government-to-government relationship with Indigenous peoples through supporting the realization of their visions of self-determination. A key part of this work is through the Nation Rebuilding Program. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Canada, council, Government, Indigenous, Minister, parliament, Secretarylast_img read more

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Afternoon Brief, June 4

first_img TAGSAustraliaBig Cork VineyardsBlue Lotus WineryBrander VineyardBuckfast WineBuena Vista WineryCaliforniaChateau St. JeanChinaConcha y ToroDroughtE & J Gallo WineryfeaturedGary EberleGlassy-Winged SharpshooterHilliard Bruce WineryJ WineryKongsgaardMelka WineryNapaOregonPaso RoblesPenfolds GrangePeter GagoPierce’s DiseasePresqu’ile WinerySan Antonio WineryShafer VineyardsSolano CountySonomaSonoma State UniversitySutter HomeSwitzerlandTexas Mead WorksTokajWomen for WineSense Pinterest Email ReddIt Subscribe to the Afternoon BriefAdvertisement Advertisement Twitter Trending Story:Health Watch: Red Wine Compounds Fight the Common ColdEmployee-lounge snack purveyors, take note: People who consume flavonoids, compounds found in red wine and other plant-based foods, take fewer sick days from work, according to new research from New Zealand…Today’s News:Bills to reduce farmer liability advance in OregonFarmers would face reduced liability for accidents related to agritourism and aviation under proposals that are likely to become law in Oregon…SSU digital wine journal to feature global case studiesSonoma State University’s growing Wine Business Institute is launching the Wine Business Case Research Journal (WBCRJ), a new digital publication that will feature case studies from around the world with the purpose of advancing wine business practices and instruction…Winemakers Turn to Apps to Save Water, Perfect WineWednesday was the last day of bottling at Shafer Vineyards. As the bottles were loaded onto the bottling machine, winemaker Elias Fernandez checked his cell phone…California to Use Satellites to EYE Unplanted FieldsSurging by-the-glass wine prices dismay dinersNo water for Sonoma mega wine warehouse?Solano County’s wine industry comes of age, and the timing couldn’t be betterPD/GWSS Referendum Reaches 40 Percent MarkMay rains had little impact on droughtWomen for WineSense Offers New Scholarships in 2015Europe’s Hidden Wine GemGrapes of Wrath: Muslim wine ferments divisions in ChinaPenfolds Grange wine maker Peter Gago says tax cheap wine moreTop 10 Wines in the US PressWIN Jobs:Chef Assistant – J WineryE. & J. Gallo Winery (Healdsburg, CA, United States)Process and Customer Service ManagementRecruiting Associates Network (Vallejo – Napa area, CA, United States)Wine Club RepresentativeE. & J. Gallo Winery (Healdsburg)More wine industry jobs…Vineyard & Winery:Gary Eberle is back in charge at wineryNapa supervisors deadlock paves way for Melka WineryBig Cork Vineyards Wins “Best in Show” for Chardonnay 2014 Winemasters Choice CompetitionConcha y Toro awarded “International Best Drinks Company of the Year”Buena Vista Winery officially unsheathes its Tool MuseumChateau St. Jean Partners With The Knot For Dream Wedding 2015Paso Robles City Council approves expansion of San Antonio WineryMaking Their Own Rules: Blue Lotus Winery and Texas Mead WorksSutter Home Family Vineyards Announces Launch of New SangriaHilliard Bruce Winery Awarded Prestigious LEED Green Building CertificationTokaj’s Sweet Wine Leaves Bitter MemoriesCaffeinated ‘Buckfast Wine,’ Though Popular Among Young People, Is Under Fire For SafetyToasting 40 Years of Brander VineyardThe story behind Presqu’ile WineryThe Five California Vineyards You Need to Knowcenter_img Linkedin Previous articleHilliard Bruce Winery Awarded Prestigious LEED Green Building CertificationNext articleAfternoon Brief: June 5 Editor Share Subscribe to the Afternoon Brief Home Afternoon Brief Afternoon Brief, June 4Afternoon BriefAfternoon Brief, June 4By Editor – June 4, 2015 33 0 Facebooklast_img read more

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Google, ITU hope for a better life in the city

first_img Previous ArticleCinven deal to acquire Telekom Slovenije in doubtNext ArticleAustralia smartphone market jumps 29% in Q1 AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 11 JUN 2015 Author Google taps retail with NYC store GoogleITU Tags Español Relatedcenter_img Richard Handford Mobile Mix: AI, Android and open RAN Home Google, ITU hope for a better life in the city Google renueva Android y muestra novedades en IA Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more Google and the ITU separately announced initiatives to encourage more joined-up thinking about the urban experience, with both citing similar challenges around cost of living, transport, housing and energy usage.While the ITU has set up a specific, standards-making group, the ambition for Google’s new “urban innovation” firm, Sidewalk Labs, is less clearcut. Based in New York, it will be headed by Dan Doctoroff, a former CEO of Bloomberg and a deputy major of that city.While characterising Sidewalk as “a relatively modest investment”, a blog by Google chief Larry Page did not reveal how much the new venture is being bankrolled, and what exactly its business model will involve.“Sidewalk will focus on improving city life for everyone by developing and incubating urban technologies to address issues like cost of living, efficient transportation and energy usage,” he wrote.He likened it to other initiatives backed by the search giant, such as Google [x] and Calico.Meanwhile, the new ITU study group has a particular brief – to standardise requirements for Internet of Things (IoT) technologies, including M2M and sensor networks, with a particular focus on smart cities.A key part of the study will be to create standards for end-to-end architectures for IoT and mechanisms for the interoperability of IoT applications and datasets employed by various vertical industry sectors, including utilities, healthcare and transport.“Building smart sustainable cities will require efficient collaboration between the public and private sectors,” said ITU secretary-general Houlin Zhao. “This new ITU-T Study Group will bring together a diverse selection of stakeholders, placing ITU’s technical expertise at the service of other industry sectors as well as the national and metropolitan administrations responsible for urban development.”last_img read more

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Outlook 2018: A Brew Economy

first_imgThe simple, thirst-slaking union of a few basic ingredients — water, grain, hops, yeast, and fruit — has created a groundswell of economic activity in the Flathead Valley, and the surging craft-beer industry shows no signs of flagging locally or statewide.Beer is as old as civilization, dating back to when grain was first domesticated and borne of the discovery that moldy bread produced an odd sensation. Adding to the established custom of imbibing alcohol is a gathering force behind craft breweries, which continue to spring up in the region and statewide, with no sign of slowing down.In the Flathead Valley, the trend is most evident in the success of downtown Kalispell’s first microbrewery, Kalispell Brewing Company, which opened its doors in 2014. That evidence continues to mount with the upcoming debut of two new breweries in downtown Kalispell, as well as a handcrafted hard-cider orchard and brewing facility east of town.SunRift Beer Company is setting up shop in the former Alano Club building north of the Kalispell Center Mall along the railroad tracks near U.S. Highway 93.Having entered its final phase of construction, head brewer and proprietor Craig Koontz said he plans to open this winter and is excited to join the downtown core and provide a vibrant gathering place and a taproom that features quality product.Koontz’s experience in the craft beer industry runs deep, and includes work as head brewmaster at Tamarack Brewing Company in Lakeside, as well as stints brewing at West Seattle Brewing in Seattle, Wash., Baranof Island Brewing Co. in Sitka, Alaska, and Four Peaks Brewing Company in Arizona, where he cut his teeth in the business.Although he’s never owned his own brewery outright, he has helped build the breweries into models of success.What’s the secret?“If you offer a quality product and you are passionate about what you’re doing, you’ll be all right,” Koontz said. “Those with quality beer will last.”Koontz plans to feature six or seven staples and offer a rotating cast of beers that play with diverse flavor profiles. He’ll sell his beer by the pint and by the growler, so the key to success will be drawing people to his taproom in Kalispell’s growing downtown core.“We are just really focused on creating a space where people want to hang out,” he said.Meanwhile, Adam and Amanda Robertson, a husband and wife who live in Whitefish, are in the final stages of transforming the former American Carpet Center building at 409 First Ave. E. in downtown Kalispell into a 6,500-square-foot taphouse and brewery called Bias Brewing, which is also slated to open this winter.In Whitefish, Bonsai Brewing is seeking to expand its operation into adjacent buildings on its Wisconsin Avenue property, allowing more storage space and the creation of an office.And finally, the Flathead Valley is on the cusp of welcoming its first hard-cider apple orchard and cidery in Big Mountain Ciderworks, a family-owned operation set to open its cider house and tap room in the spring of 2018 on Old Reserve Drive.The debut of these small, local craft breweries and their subsequent success is mirrored across the state and nationally.Craft beer production climbed again in 2015 in the Treasure State, rising to 15 percent above where it stood in 2014 and 87 percent greater than its 2010 standings, according to a study published last year by the University of Montana’s Bureau of Business and Economic Research.At the same time, Montana brewers continue to employ more people, increase payroll and make a greater number of purchases year over year.Montana’s craft brewing industry has more than doubled its workforce over the past seven years, and the number of people working for craft breweries went from 231 in 2010 to 1,044 in 2015, according to senior research economist Kyle Morrill, who authored the BBER study, which was commissioned by the Montana Brewers Association (MBA).Furthermore, the share of expenditures to Montana businesses continues to increase, with a total of $19.8 million paid directly to Montana businesses. The study was the first to estimate agricultural purchases totaling $4.5 million in 2015, 36 percent of which were Montana agricultural producers.Last year, craft breweries produced 12.3 percent of the beer Americans bought, up from just 2.8 percent in 2004, according to the Brewers Association, a national trade group. Meanwhile, overall U.S. beer volume sales were staticThe report found that economic benefits include more than $33 million in income to Montana households; sales from businesses and organizations are $103 million higher; and tax and non-tax revenues, not including property taxes, were more than $4 million higher.The study also found that the industry’s overall economic impact grew by about 20 percent over 2011 numbers, reaching roughly $60 million in 2013.And with brewing falling under the major industry heading of manufacturing, Montana’s manufacturing sector has enjoyed the largest output gain of $41.6 million due to craft brewing operations, according to Sorenson.The sales of all kinds of Montana entities benefited from craft brewing, notably construction, as well as state and local government, retail trade, and health care, according to the report.Still, small craft breweries chafe under production constraints, among other pressures that stem momentum.To help alleviate those burdens, U.S. Sens. Jon Tester, a Democrat, and Republican Steve Daines have thrown their support behind the Craft Beverage Modernization and Tax Reform Act, which lowers the federal excise tax fore breweries. The bill passed Dec. 20.“Our senators understand that with 75 breweries creating jobs and economic growth in communities across our state, Montana craft beer is good for Montana’s economy,” Nolan Smith, executive director of the Montana Brewers Association, said.Under the bill, the federal excise tax will be reduced by half to $3.50/per barrel on the first 60,000 barrels for domestic brewers producing less than 2 million barrels annually, and reduced to $16 per barrel (from $18/barrel) on the first 6 million barrels for all other brewers and all beer importers.According to Smith, the savings will allow Montana’s 75 small breweries, including many manufacturers and entrepreneurs, to reinvest in their businesses, expand their operations and hire more workers.Known for their passion for the craft, brewers said they plan to turn those savings around to make capital improvements and investments.“I absolutely see brewers reinvesting in their business. That’s just their style across the board,” Koontz said. “It’s their passion and it’s a healthy business.” Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Emaillast_img read more

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