COLD SPRING -- Plans are moving forward for the expansion of the Cold Spring Brewing Company.

At Tuesday night's council meeting the city approved the sale of the business park area as a business subsidy for Cold Spring Brewery.

City Administrator Brigid Murphy says the company does have some guidelines to follow since the land was sold as a business subsidy.

"We will be developing a development agreement which will [include] that they will have to create the jobs they anticipate. They have to build within the time frame and some of the development design will have to comply with city codes."

The company announced last November that they would be expanding their shipping facility. Cold Spring Brewing Company, Vice President Scott Bender says the new addition will be about a 300,000 square foot facility, it will be used as a shipping facility and production line.

The expansion will create about 40-60 new full-time jobs in Cold Spring.

Cold Spring Brewing Company currently employs nearly 330 employees. The expansion is expected to be completed by late 2017 or early 2018.