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

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