Anheuser-Busch Inbev (NYSE:BUD) shares climbed Tuesday as the company announced a major production and economic investment in Jacksonville, Florida.
The firm said it will spend $30 million to upgrade brewing and packaging operations at its Jacksonville brewery and can plant, a move aimed at boosting production of top-selling beers like Michelob ULTRA.
The brewery said the funds will go toward new equipment to expand capacity for in-demand products.
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Company officials said enhanced systems will support larger output and streamline packaging operations.
Brewing Futures Initiative
This $30 million outlay is part of Anheuser-Busch’s Brewing Futures program, which supports U.S. brewery investments.
The company said it has put more than $300 million into American facilities over the past year under the initiative.
Anheuser-Busch said its plan focuses on sustaining manufacturing jobs, advancing technical skills training and strengthening career opportunities for veterans.
Executives said the effort builds on more than 165 years of continuous investment in communities and workforce development.
Brendan Whitworth, CEO of Anheuser-Busch, said the investment will help the company brew more of its highest-quality beers that consumers love.
Whitworth added that the upgrades will sustain jobs and support local economic growth in Jacksonville.
Product Demand
Anheuser-Busch said the investment will expand the brewery’s ability to produce fast-growing brands like Michelob ULTRA.
According to Circana data, the beer ranks as the top-selling and fastest-growing brand nationwide and in Florida.
U.S. Rep. Aaron Bean said the announcement will boost Northeast Florida’s economy, create jobs and strengthen manufacturing.
Florida Speaker Pro Tempore Wyman Duggan said the investment will enhance workforce development and support long-term opportunities.
Anheuser-Busch opened its Jacksonville Brewery in 1969 and added an MCC facility in 2016.
The company said it has invested more than $100 million in Jacksonville since 2021, part of nearly $2 billion in U.S. facility investments over five years.
BUD Price Action: Anheuser-Busch InBev shares were up 1.58% at $64.27 at the time of publication on Tuesday, according to Benzinga Pro data.
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