Sitka’s Baranof Island Brewing Company has gone under, taking $329,000 of city loans along with it. The brewery was the first in the state to sell shares under Alaska’s 2016 crowdfunding law, and over 100 investors could take losses.
The Sitka Assembly on Tuesday night approved a loan of $350,000 to the Baranof Island Brewing Company. Rep. Jonathan Kreiss-Tomkins told assembly members, "The state is going broke." And City Administrator Mark Gorman reported on why cruise companies said they see Sitka as different from Ketchikan or Juneau.