Financing for the ground-up construction of a 8-acre, 4-building complex with 105,000 sq. ft. of production, storage, headquarters, and training spaces (the “Project”) to be developed by Fireclay Tile.
Fireclay Tile (“Fireclay”) will expand from a single 30,000 sq. ft. manufacturing facility into a 105,000-SF, 4-building complex, & will create/retain 470 direct jobs, 100% of which are quality jobs, in a severely distressed community (unemployment 2.64x national rate) & OZ in Aromas, San Benito County.
Impact: 65 jobs are construction, 100% will provide a living wage ($19.43/hour) & 405 of the jobs are permanent (200 production & 205 office & sales/marketing jobs), 100% provide a living wage &/or comprehensive benefits.
Fireclay is a certified Benefit (“B”) Corporation dedicated to diversity & pay equity & creating high quality jobs for the LIC. A 46% wage increase was achieved in the last 6 yrs. 65% of its employees are minorities & the company is 30% employee-owned through stock ownership, which creates opportunities for low wage workers to build wealth.
Comprehensive benefits include: annual bonuses, medical insurance (85% of employee premiums & 40% of dependent premiums), life & short/long-term disability insurances, subsidized HSA account & access to an FSA, domestic partner/same-sex marriage spousal benefits, up to $2,000 annual education reimbursement, subsidized vision & dental insurance, minimum of 15 days paid-time-off & 7 paid holidays, 401k with 4% match, 12 weeks paid maternity & 4 week paid paternity leave, No Interest Loan Program to employees who need short-term financial help, & robust training programs that include on-boarding “Tile U” program for new employees & company-wide Talent Acceleration program for employee advancement & promotion.
Fireclay aims to fill 75% of its perm jobs with LIPs & LIC residents without a college degree (100% of production jobs & 50% of office jobs) & will work with 2 Workforce Development Boards & other LIC programs to fill positions, including an employment program for adult ex-offenders.