After receiving NMTCs from the National New Markets Fund in 2020, Kroy decided to expanding manufacturing capacity at another manufacturing facility and at a newly purchased vacant, non-productive facility. This investment allowed Kroy to purchase new equipment to expand its manufacturing operations of bar codes, liner-less labels and other products. The new equipment will create at least 50 new jobs, adding to the existing 184 full-time jobs at Kroy. Kroy has a strong record of hiring and training employees from hard-to-employ groups, such as homeless, refugees, formerly incarcerated, and veterans.
The project has committed to a good faith effort to hire a significant number of its new employees from the LIC or LIP population, including homeless persons, former felons and veterans. A portion of the NMTC financing will be used to contribute to the Community Service Alliance to provide manufacturing skills training to LIPs and LIC residents.