Image Industries

Clarksdale,
MS
(2021)

Image Industries

Manufacturing

In October 2021, AMCREF Community Capital provided $7.5 million of NMTC financing to Image Industries, Inc.

Investment

NMTC Amount: $7,500,000
Total Project Cost: $7,500,000

IMPACT

77 FTE jobs
Estimated quantity of recycled content (carbon and stainless steel) to be utilized per year by the Clarksdale, MS facility is 1,071,000 pounds and 100% of Image’s scrap material is recycled.

CDEs

AMCREF Community Capital

Investor

US Bank

In October 2021, AMCREF Community Capital provided $7.5 million of NMTC financing to Image Industries, Inc. Image is a second generation, family-owned stud welding manufacturer formed in 1976. Stud welding is a process that joins fasteners to a base metal substrate. The end product is used in many applications including buildings and bridges, power distribution equipment, food service, and vehicle and ship building. Image began operations in Illinois but due to increased business taxes, sought $7.5 million in equipment and working capital to bolster operations after moving the business to Clarksdale, MS. After a national search, Image decided to lease a vacant building from the Clarksdale Economic Development Authority (EDA) in a Severely Distressed, Non-Metro census tract in Coahoma County which is both a Delta Regional Authority (DRA) distressed and Persistent Poverty County. Image products are produced from steel which contains a minimum of 85% recycled content, allowing them to utilize over a million pounds of recycled carbon and stainless steel per year.

MAP

Address: 1515 Desoto Avenue, Clarksdale, MS 38614

Census Tract: 28027950700

Other Mississippi Projects

Winston Plywood

Louisville,
MS
(2015)

Business Development, Manufacturing, Rural, Tornadoes

CDE(s): MuniStrategies

After an EF-4 tornado devastated a town, killing 10 people and destroying over 1,000 structures including a 265,000 sq. ft. mill, the NMTC brought jobs and hope back to the

Empire and Stribling Winona

Winona,
MS
(2020)

Automotive, Retail, Retail and Commercial, Rural

CDE(s): Brownfield Revitalization, Capital One, Three Rivers CDE

Construction of a new, state-of-the-art heavy truck dealership which will offer sales and support for new, used, rental and leased heavy-duty trucks and equipment.

Fred Netterville Lumber

Woodville,
MS
(2020)

Business Development, Manufacturing, Rural

CDE(s): AMCREF Community Capital

Netterville’s mill was damaged extensively by fire and was seeking capital to restore capacity and rebuild more efficiently, reducing energy usage by 45%.

Singing River Hospital

Pascagoula,
MS
(2009)

Behavioral Health, Community, Healthcare, Hospitals and Emergency Services

CDE(s): CCG Community Partners, Mississippi Business Finance Corporation

The construction of the new hospital facility for the Singing River Hospital System.