Business Journal: SMUD Proposing Rate Hikes; New Glory Brewery Grows; More Coworking Spaces

SMUD Proposes Rate Hikes

The Sacramento Municipal Utility District is proposing its biggest rate hikes in nearly a decade. Customers could see increases of 4.75 percent next year and 4.5 percent in 2021. The Sacramento Business Journal's Sonya Sorich says the utility is trying to pay for improvements.

"There's a variety of cost drivers at play here, but basically SMUD is preparing to upgrade its technology and integrate more renewable energy into its system,” says Sorich. “The last time SMUD enacted such a large increase was 2010, when it raised rates 5.5 percent."

SMUD will hold public workshops to discuss the proposed hikes in April and May before a public hearing on June 4. The utility company says even after the proposed increases, its electric rates would still be among the lowest in the state.

New Glory Among Fastest Growing Breweries

A Sacramento beer maker is among the top 10 fastest-growing breweries in the U.S. New Glory Craft Brewery ranks 7th among 50 small and independent breweries listed in the survey put out this week by the Colorado-based Brewers Association. New Glory ended 2017 with 2,000 barrels produced. It ended 2018 with 6,200 barrels. Sorich says the beer maker is getting even bigger.

"New Glory is planning an expansion project at its brewery and taproom on Alpine Avenue, with is located off Power Inn Road,” says Sorich. “It will go from a 15 barrel brewhouse to a 40 barrel brewhouse at the site. Most of the expansion is expected to be completed by the end of the year."

New Glory also opened a restaurant and taproom in Granite Bay last year.

More Coworking Spaces Opening

Another new coworking space opened in the Sacramento area this week. It's called The Studio Coworking and it's on Vernon Street in downtown Roseville. Coworking spaces typically charge rent on a month-to-month basis and serve as incubators and networking hubs for entrepreneurs to launch companies. Many of them are in downtown and midtown Sacramento. Sorich says we could be seeing more of them in the suburbs.

"At least one other coworking project is in the works in a separate local suburb,” says Sorich. “Granite City Coworking is expected to launch soon in historic Folsom. It's located in an environment similar to Roseville's Vernon Street, with plenty of shops and restaurants nearby."

The founders of the Folsom coworking space say they hope to attract entrepreneurs who are tired of commuting to Sacramento for work.