Afternoon Brief, March 9th

California Wine Country’s Race to Build Wine Palaces: Today, there are over 8,000 legally bonded wineries in America with California leading with over 4,763 in 2021 according to Statista. Even Alaska has 24 wineries. While the total number of wineries has doubled since 2009, the production of wine has only gone up 3% in the same period. So, why has the number of wineries increased much faster than the actual gross production of wine?