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Note: Energetic guitar riffs play.
On screen: An aerial view of the sun rising on the New Belgium brewery, with its four-story gleaming silver tanks. A montage shows: a display of specialty beers; a group of women, clinking their glasses together; and a bartender pouring beer from a tap. Next, a close-up of Kim, a woman with long blonde hair. White text appears briefly on screen
Text on screen: Kim Jordan. Co-Founder, New Belgium Brewing Company.
Kim: New Belgium is the fourth-largest craft brewery in the Unites States. We started New Belgium in the basement of our house, my then-husband Jeff Lebesch and I.
On screen: A photo of Kim appears, labeled: "Kim bottling in Basement. 129 Frey Ave. 1991". Then a close-up of Kim.
Kim: It was that classic American entrepreneurial story of taking a second mortgage out on our home and working lots of crazy hours while also growing our family.
On screen: A close-up of Bryan, a bearded man with white hair and a plaid shirt. White text appears briefly on screen.
Text on screen: Bryan Simpson. Communication Director, New Belgium Brewing Company.
Bryan: From the very beginning, our founders wanted to create a business that was basically all about creating world-class beers, doing so in an environmentally friendly fashion, and having fun while doing it.
On screen: A montage shows: Kim sampling beers with her team; bottles moving along a conveyer belt; the exterior of the brewery; and employees sharing a laugh. Then, a close-up of Kim.
Kim: We make beer. Having fun is really important.
On screen: Kim tours the brewery. Next, a close-up of bottles and boxes moving along a conveyor belt. Kim and a colleague walk among large wooden casks. Kim greets co-workers with smiles and hugs, before a casual meeting. Then, a close-up of Kim.
Kim: As we were realizing that we really had the opportunity to sell beer to a lot more people, we started developing our sense of making sure that we had a group of co-workers that we felt really loyal about. So, I started thinking about open book management and employee ownership. And then we later decided to sell our shares to the ESOP which took us to 100%.
On screen: Close-up of a red bicycle outside the brewery. Next, a painting of the red bike. Next, co-workers laughing. Then, bottles on a conveyor belt. Then, a close-up of Joe, a man with a red beard and blue eyes. White text appears briefly on screen.
Text on screen: Joe Herrick. Packaging Supervisor, New Belgium Brewing Company.
Joe: 100% ESOP allows employees to act like owners and we're all part of the success of this.
On screen: Joe and Kim walk through the Brewery. Next, a hydraulic pallet truck moves barrels through a warehouse. Next, co-workers at a casual meeting. Then, a close-up of Danielle, a woman with long black hair. White text appears briefly on screen.
Text on screen: Danielle McLarnon. CFO, New Belgium Brewing Company.
Danielle: JPMorgan Chase has been a partner of ours since we completed our second stage ESOP transaction.
On screen: A close-up of Kim.
Kim: One of the parts of our decision in choosing JPMorgan Chase was their strength in their ESOP practice.
On screen: Kim and Danielle sit with J.P. Morgan Chase executives in a workspace resembling an upscale tavern. Close-up of Regina, a woman with wavy brown hair. White text appears briefly on screen.
Text on screen: Regina Carls. Head of ESOP Advisory Group, J.P. Morgan.
Regina: I think the ESOP really just continued to deliver what was already embedded in the culture of this company. Um, they truly value their employees.
On screen: The New Belgium employees laugh together. A close-up of Kim
Kim: People here care deeply about one another's success and their good work.
On screen: A montage of scenes at the brewery: workers greet each other as they pass in the hall; boxes on a long conveyor belt; large wooden casks in a storage room. Then, a close-up of Steve, a man with short dark hair. White text appears briefly on screen.
Text on screen: Steve Driscoll. Commercial Banker, Chase.
Steve: Since becoming involved with New Belgium Brewing we knew their plans were expansion and so, all along, the plan was to help them finance a second brewery.
On screen: An aerial view of the brewery, in a green valley, surrounded by rugged hills. Then, a close-up of Danielle.
Danielle: We settled in Asheville, North Carolina, where we have a second brewery that is 500,000 barrel capacity which has allowed us to be a national craft brewer. JPMorgan Chase has helped us finance our future.
On screen: Close-up of the brewery’s sleek silver tanks. Bottles and boxes move along a conveyor belt. A close-up of Steve and Regina smiling. Then, a close-up of Kim.
Kim: The people at JPMorgan Chase are thinking about things that haven't occurred to us and that relationship has just gotten stronger and stronger over all the years that we've been together. It spurs us on to be better at what we do.
On screen: A montage shows the New Belgium Brewing team - working, socializing, and lifting frothy glasses of yellow, amber-red, and brown, craft beers and ales. Then logos appear on a white screen.
Logos on screen:
Chase
J.P. Morgan.
In the early 1990s, launching a craft brewery was innovative. But co-founder Kim Jordan was just getting started with New Belgium Brewing, one of the most innovative companies in the country.
Much of that comes from a focus on fostering a "high-involvement culture," which creates a loving, high-performing workforce.
"There's an expectation that our co-workers will be involved in the business of running the business," Jordan said in a recent discussion with JPMorgan Chase employees and two of its marketing executives, Kristin Lemkau and Samantha Saperstein.
Employees own 100 percent of New Belgium, based in Fort Collins, Colorado, after moving to an employee stock ownership plan in 2010, which became 100 percent in 2013. That means all of the nearly 800 co-workers of the company have access to its financials. And nearly all of them come to the annual retreat to hammer out the brewery's strategy for the year ahead.
That's helped generate solid growth. New Belgium distributes to all 50 states, selling nearly a million barrels of beer per year. That makes it the fourth-largest US craft brewery and eighth largest overall. Last year, it opened a second brewery in Asheville, North Carolina, to better serve distributors along the East Coast.
Inc.com named New Belgium one of America's 25 Most Audacious Companies and Outside magazine calls it a best workplace.
"The high-involvement culture has been an incredible engine for us, when coupled with the fun of beer and that love and talent," Jordan said.
Employees are invited to enjoy a beer after their shift and to take home a 12-pack each week. There's also the in-office fun slide as well as the all-expense paid trip to Belgium for employees after five years. This year, nearly 60 colleagues are joining Jordan to bike around Belgium and check out the breweries that inspired their own.
"I always want to make sure that we have time to break bread together," Jordan said. "It's not just sitting around and drinking beer. It's also the food that you're eating and the opportunity to just enjoy one another." That sense of community carries over into serious business decisions.
Jordan started the company in her basement with her then-husband, Jeff Lebesch. Even then, she was thinking about the environment—and about producing world-class beer, promoting beer culture and having fun.
Today, the company:
"If we don't get climate disruption right, a lot of the other stuff won't matter much," she said. "So we focus on renewable energy and climate-change advocacy."
The company encourages employees to bike to work, rewarding them with Detroit-made bicycles once they've been there a year. Of course, it reflects a commitment to employee health and the environment. But it's also a nod to the Belgian bike ride that inspired Lebesch to create Fat Tire Belgian Ale, the now-iconic beer that launched the company.
The company also tells its story through events such as the Tour de Fat, an annual beer, music and bike festival that raises money for local nonprofits. Now in its 18th year, the tour highlights local artists and buskers as well as big-name acts such as The Roots and Michael Franti & Spearhead.
The evolving image of bicycling parallels New Belgium's mission to be a force for good.
"When we started New Belgium, biking really was not considered a form of transportation," Jordan says. "Along with some other companies, we've been instrumental in changing that.
"When you believe in something and work at it from a lot of different angles—Tour de Fat, philanthropy, brand advocacy, policy making—you can be part of the force that changes the public dialogue about something like bicycle commuting," she said.
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