October 12, 2020
LAS VEGAS, NV – Advantage Capital today announced a $2.1 million investment in Las Vegas-based market research firm, Precision Opinion. The investment, made in connection with the Nevada New Markets Jobs Act (NMJA), provides working capital to support product development, sales and marketing, and talent acquisition.
Precision Opinion is a leading research firm for social science agencies, government agencies, political consultants and large corporate clients. The company’s best-in-class technology enables extremely accurate results, giving voice to millions of American survey participants each year.
“Over our two decades in business, helping countless organizations make vital business and social policy decisions, we’ve experienced steady growth – evolving from a 15-person firm to now more than 700 here in Las Vegas,” said Jim Medick, CEO of Precision Opinion. “This investment will support our continued growth and leadership position in the ever-evolving research market. What’s more, it will extend our ability to significantly add to our team. This is a difficult time for our community and I’m very pleased that we can continue to bring on more staff, thereby providing good jobs for the people in our area.”
The company is seeking to bring on 150 more employees in the near future. These jobs offer employees critical resources, such as competitive wages, a full range of benefits and flexible schedules, that are needed right now as many people begin to bounce back from periods of unemployment. Precision also provides robust training for both new research associates as well as management staff.
“Precision Opinion is a good example of what we aimed to achieve with the Nevada New Markets Jobs Act program—facilitating private investment capital into businesses in distress communities, in particular those companies that can create and maintain good, quality jobs to benefit Nevada families,” said Assemblywoman Dina Neal. “Companies like Precision Opinion are a testament to the positive impact of targeted incentive programs, and we must make sure Nevada businesses like it have what they need to continue to expand and build up local economies in our state. Especially right now as we work through the COVID-19 pandemic.”
This financing is part of a larger $6.3 million investment made as part of the Silver State Growth Capital Initiative, which backs growth-focused Nevada-based entrepreneurs and operators.
“Advantage Capital and our partners have invested $97 million in Nevada businesses over our five-year time period working in the state, helping to support companies like Precision Opinion. We’ve achieved outstanding results both in business outcomes and in supporting distressed communities, but there is still much work to be done in terms of aiding recovery from the economic shock caused by the pandemic. The Silver State Growth Capital Initiative was put into place to strengthen the Nevada economy and grow existing businesses, and is a vehicle for deploying the kind flexible capital that is needed across the state right now,” said Leah Hendricks of Advantage Capital.
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About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3.4 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About Precision Opinion
Precision Opinion has been providing quality data collection on insights for social science agencies and political organizations and since 2007. Based out of Las Vegas, Nevada, Precision Opinion operates two state-of-the-art call centers housing over 650 CATI workstations and employs over 700 Nevadans.
Contacts
Advantage Capital
Joe Stosberg, Communications Specialist
jstosberg@advantagecap.com
The Silver State Growth Capital Initiative includes Advantage capital entity MidWest Community Development Fund XIII as well as other Nevada & Federal New Markets Tax Credit Allocatees.
Advantage Capital is an investment adviser registered under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. The information in this document is not intended to be an advertisement concerning investment advisory services or an offer to sell or a solicitation of an offer to purchase an interest in any security. Advantage Capital is an equal opportunity provider.
The investments and portfolio companies referenced in this document represent only a sample of companies that have received investment capital from Advantage Capital-related entities. For a complete list of such companies, please see our website at advantagecap.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results.
