Ovenly

$600,000 working capital for bakery based in Brooklyn, NY with a focus on quality job creation and providing jobs to formerly incarcerated people.

Investment

  • NMTC Amount: $600,000
  • Total Project Cost: $600,000

IMPACT

  • 5 FTE jobs

Investor

Project Description

Ovenly: Provided $600,000 working capital for bakery based in Brooklyn, NY with a focus on quality job creation and providing jobs to formerly incarcerated people. Ovenly has hired a third of its employees through GOSO and other workforce organizations such as the Ansob Center and Seedco. The bakery’s staff now includes people who have survived gang involvement, domestic violence and political or religious persecution in their countries of origin, and workers come from places as far-flung as Sudan, Guatemala and the Bronx.

MAP

Address: 31 Greenpoint Avenue, Brooklyn, NY 11222

Census Tract: 36047056500

Other New York Projects

The adaptive reuse of a former refrigeration warehouse into a community-based food incubator and the third project to use the NTCIC Irvin Henderson Main Street Revitalization Fund.Once complete, the historic

NMTC funding will provide funds for a new “FRESH” supermarket, plus operating expenses during lease-up and working capital during rent-abatement period. This project’s financing is part of a $10.5 million

Cascade Plaza is a newly developed 9-story, 175,000 sq. ft., mixed-use project in the heart of Ithaca’s Urban Renewal District. The development is the result of a partnership between the
Warehouse space on a Lower East Side pier becomes a new athletic facility and public waterfront esplanade.