September 1, 2020
Our commitment to investing in underserved communities—by putting much-needed capital into the hands of job-generating small businesses in connection with programs like New Markets Tax Credits—continues to drive our investments. We recently received our 12th NMTC allocation award and with this next $60 million allocation, we stand in our commitment to support business growth that creates good, quality jobs—a foundation of economic security for households and communities.
With access to flexible capital to facilitate business growth, these same businesses – from manufacturers employing hundreds in rural areas, to service companies in urban cores, to tech providers — have been able to expand, often bringing critical jobs, goods and services, and catalytic growth to their communities.
Read on to learn some of their stories.
E-Pak Manufacturing: Growing Jobs in Rural Northeastern Ohio
Located in rural Wooster, Ohio, E-Pak Manufacturing produces roll-off containers and trailers for the scrap metal industry. Throughout its three decades in business, the company has been a solid employer and a leader in the region’s manufacturing economy. In 2019, with an equity investment in connection with the NMTC program, E-Pak was able to expand manufacturing and nurture growth in both product lines and jobs.
Following the investment, E-Pak added a third shift to support new growth opportunities and it anticipates dozens of new hires over the coming years. In an effort to make sure it has the skilled labor it needs – and the resources and work environment necessary to retain and nurture a strong skilled workforce, E-Pak provides critical training programs and tuition assistance, comprehensive benefits and strong pay – all hallmarks of a quality job. The company’s robust training program even includes welding, offering people across the region access to a highly transferable trade and helping to create a strong, sustainable workforce.
NevadaNano: NMTC investment for global growth
NevadaNano’s sensor technology enables the sense of smell in portable devices, providing real-time chemical analysis to detect, identify and quantify chemicals in the air to ensure safer workplaces, healthier homes and a cleaner environment. With investments through the NMTC program, NevadaNano has been able to fund product development and commercialization, and secure additional equity financing to further its growth trajectory.
An early technology company in the Reno, Nevada area, the company has inspired other smaller tech companies to place their roots in Northern Nevada and cultivate the region’s tech economy. It’s helping to draw new talent and innovation to the state, while encouraging young people to stay in-state and grow their careers. NevadaNano jobs, while high tech, are also accessible to those without advanced degrees or experience, bringing more people into a high growth, high opportunity career.
North End Teleservices: From business growth to community impact
Carmen Tapio, founder and CEO of Omaha-based North End Teleservices, is a long-time veteran of the call center business. In 2015 the Omaha Economic Development Corporation approached Carmen about opening a teleservices center in an effort to create jobs in North Omaha—a highly distressed community with unemployment in the double digits. Three years later, Carmen sought to purchase the business and take it to the next level. While her local bank was not able to help, an investment with the NMTC program provided the financial backing she needed. She now employs more than 160 people and has expanded her vision and mission from job creation to changing the lives and community around her.
Walking through the offices at North End Teleservices, it’s easy to see the company’s impact. From the shuttle vans taking people to and from work, to the photos of employees who have graduated from apprenticeship and training programs, and inspirational quotes gracing the walls, this is a company full of opportunity. North End Teleservices offers strong advancement potential, with training that gives employees the opportunity to not only excel in the role they were hired for but also obtain skills that will help them grow in their career and move up the ladder, along with tuition reimbursement and apprenticeship programs.
Are you looking to grow your business with patient, flexible capital?
The investments, portfolio companies and recommendations listed on this website represent only a sample of companies that have received investment capital from Advantage Capital-related entities. 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. For a full list of companies, please click here.
