EC Pigments USA

New Markets Tax Credit Coalition

Fall River,
MA
(2008)

EC Pigments USA

Business Development, Manufacturing

Instead of fading from the Massachusetts economy, EC Pigments USA, Inc. of Fall River used a financing package to keep its business in in Fall River.

Investment

NMTC Amount: $625,000
Total Project Cost: $3,000,000

IMPACT

8 FTE jobs

CDEs

MassDevelopment

Investor

Unknown

Project Description

Instead of fading from the Massachusetts economy, EC Pigments USA, Inc. of Fall River used a financing package from MassDevelopment and the Fall River Office of Economic Development (FROED) to keep its business in state. This supplier of organic pigments preserved 47 local jobs, and created 20 new ones. The financing package included a $625,000 New Markets Fund loan from MassDevelopment a $150,000 co-loan from lending partner FROED, and a $750,000 equipment loan from MassDevelopment. Now the company’s future has never looked brighter.

MAP

Address: 749 Quequechan Street, Fall River, MA 2721

Census Tract: 25005640800

Other Massachusetts Projects

Northstar, New Bedford

New Bedford,
MA
(2023)

Daycare and Early Childhood

CDE(s): MHIC

The project involves financing a new 17,500 square foot state-of-the-art Early Education and Community Center, to be located on what is now a blighted, vacant lot in a largely residential

The Greater Boston Food Bank

Cambridge,
MA
(2013)

Community, Energy, Shelters and Community Food, Solar

CDE(s): Bluehub

In 2010, BlueHub Capital financed the installation of solar panels on the roof of the Food Bank, allowing the organization to get green energy for a low, fixed rate and

Food Bank of Western Massachusetts

Chicopee,
MA
(2022)

Shelters and Community Food

CDE(s): Evernorth Rural Ventures, Mascoma Community Development

The project consists of the acquisition of land and construction of a new 63,000 sq. ft. headquarters building with warehouse, office, training, and support spaces. The project design includes 33,000

Wash Cycle Laundry

Chelsea,
MA
(2018)

Business Development, Manufacturing

CDE(s): MHIC

Financing for the fit-out, equipment, start-up operating deficit, and working capital necessary to operate a 10,000 sq. ft. commercial laundry business.