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.
Auburn, NY | 24th District
A $16.4 million expansion increased manufacturing activity in Auburn, NY, creating 32 new jobs….