Apex Resource Technologies

New Markets Tax Credit Coalition

Pittsfield,
MA
(2009)

Apex Resource Technologies

Business Development, Manufacturing, Plastics and Chemicals

Apex Resource Technologies received an infusion of $5 million, giving the company the working capital needed to expand its business and workforce.

Investment

NMTC Amount: $3,943,898
Total Project Cost: $3,943,898

IMPACT

20 FTE jobs

CDEs

MHIC

Investor

Unknown

Project Description

A privately-owned company in western Massachusetts — Apex Resource Technologies — got an infusion of $5 million, giving the company the working capital needed to expand its business and workforce. In 2009, MHIC teamed up with Pittsfield Cooperative Bank to craft an innovative loan structure combining a bank loan with gap financing available through the use of the New Markets Tax Credit program.

Apex provides engineering, design and manufacture of injection molding products, including plastic components used in the medical, industrial and communications fields. It had recently added a promising new product line of implantable medical devices for use in surgical procedures. Apex sought financing so that it could exploit opportunities for growth in the medical device and implantable industry. A company with world-wide sales, Apex currently employs approximately 60 people.

MAP

Address: 17 Downing Three, Pittsfield, MA 1201

Census Tract: 25003935200

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