New Markets Tax Credit Coalition

Search

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

NMTC financing for a food distribution facility, Foodirect Inc., a full-service food distributor that has been family-owned and operated since 1944. The company stocks over 5,000 unique food products and

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
Mixed-use development to bring fresh food, accessible healthcare and job opportunities to a highly distressed community in the South Bronx.
Bordering Larkin Square in the heart of Buffalo's reimagined Hydraulics district, The Kamman has undergone a complete restoration, transformed into a vibrant, mixed-use space for both offices and residences.