Memphis, TN (2021)



  • NMTC Amount: $8,000,000
  • Total Project Cost: $10,700,000


  • 84 FTE jobs


Project Description

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.


6465 North Quail Hollow Rd, Memphis, TN 38120

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