The Ampro project utilized $8 million in New Markets Tax Credit (“NMTC”) allocation to help finance the expansion and reequipping of a hair product manufacturing facility located in a severely distressed census tract in Memphis, Tennessee to meet increased need for the company’s multicultural hair care product. The transaction is expected to create at least twenty-five (25) new full-time jobs, almost all of which are anticipated to be filled by residents of the surrounding low-income community, which has an unemployment rate of 30%. Ampro will pay salaries that are 110% to 200% above the average living wage for the community in which the project is located, as well as provide comprehensive benefits for its employees.
Auburn, NY | 24th District
A $16.4 million expansion increased manufacturing activity in Auburn, NY, creating 32 new jobs….