Kroy Phase 2

Cleveland,
OH
(2021)

Kroy Phase 2

Manufacturing

This investment allowed Kroy to purchase new equipment to expand its manufacturing operations of bar codes, liner-less labels and other products.

Investment

NMTC Amount: $25,000,000
Total Project Cost: $26,400,000

IMPACT

234 FTE jobs
The new equipment will create at least 50 new jobs, adding to the existing 184 full-time jobs at Kroy.

CDEs

National New Markets Fund, PNC

Investor

PNC

Project Description

After receiving NMTCs from the National New Markets Fund in 2020, Kroy decided to expanding manufacturing capacity at another manufacturing facility and at a newly purchased vacant, non-productive facility. This investment allowed Kroy to purchase new equipment to expand its manufacturing operations of bar codes, liner-less labels and other products. The new equipment will create at least 50 new jobs, adding to the existing 184 full-time jobs at Kroy. Kroy has a strong record of hiring and training employees from hard-to-employ groups, such as homeless, formerly incarcerated, and veterans.

The project has committed to a good faith effort to hire a significant number of its new employees from the low-income community or low-income people population, including homeless persons, former felons and veterans. A portion of the NMTC financing will be used to contribute to the Community Service Alliance to provide manufacturing skills training to low-income peoples and low-income community residents.

MAP

Address: 3830 Kelley Avenue, Cleveland, OH 44114

Census Tract: 39035108301

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