Alco Products

Detroit,
MI
(2016)

Alco Products

Business Development, Manufacturing

NMTC financing supported the Alco Products project.

Investment

NMTC Amount: $2,500,000
Total Project Cost: $2,500,000

IMPACT

9 FTE jobs

CDEs

Midwest Industrial Redevelopment Fund

Investor

CIBC

Project Description

The PrivateBank, through its subsidiary, Midwest Industrial Redevelopment Fund, announced it provided $2.5 million in financing to Alco Products, LLC, in Detroit to increase production capacity and create new living-wage jobs. Alco Products received low-cost financing through The PrivateBank’s participation in the New Markets Tax Credit program. Alco Products produces waterproofing and roofing products for residential and commercial applications. Alco’s 100,000-square foot facility is in a distressed area of Detroit, where the poverty rate in the neighborhood exceeds 38 percent. Alco Products is committed to providing important job opportunities for area residents and expects to create nine new full-time jobs as a result of the expansion.

MAP

Address: 580 Saint Jean Street, Detroit, MI 48214

Census Tract: 26163513700

Other Michigan Projects

Dreamtroit

Detroit,
MI
(2022)

Manufacturing, Mixed-use

CDE(s): Michigan Community Capital

Dreamtroit consists of the redevelopment of the former Lincoln Motor Company headquarters into a mixed-used, mixed-income historic redevelopment. The project aims to combat displacement of artists while delivering affordable residential

HM Ventures Wurlitzer

Detroit,
MI
(2016)

Business Development, Historic Rehabilitation

CDE(s): Chase, Invest Detroit CDE

Rehabilitation of an iconic 14-story historic property at 1509 Broadway.

Kalamazoo Gospel Mission

Kalamazoo,
MI
(2020)

Adult Education, Behavioral Health, College or Vocational Training, Community, Daycare and Early Childhood, Dental Services, Healthcare, Historic Rehabilitation, Housing, Mixed-use, Nonprofit Hub, Shelters and Community Food, Targeted Populations, Youth and Families

CDE(s): Cinnaire New Markets, PNC

A newly constructed and rehabilitated facility features 242 beds, multipurpose rooms, community rooms, a medical recovery room, day room, offices, reading room, and an elevator for increased accessibility.

American Processing Inc

Alpena,
MI
(2011)

Community, Energy, Manufacturing, Rural, Waste Management, Water Management

CDE(s): CEI Capital Management, Rural Development Partners

American Process, Inc., utilized NMTCs to create 20 new jobs for a biorefinery project at its Alpena, Michigan plant site.