Heartland Renaissance Fun, an affiliate of The Arkansas Capital Corporation Group, is set to provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility to replace the current operations with a new state-of-the-art graphitization process for the manufacture of graphite electrodes, which are used for the production of steel in electric arc furnaces. The $10 million New Markets Tax Credit financing is part of a $26 million overall investment at the plant. This investment will yield cleaner technology, reduce energy consumption by approximately 20% and have a considerable impact on the competitive position of SGL Group, as well as allow the company to retain jobs and strategically position themselves for the future in Ozark. SGL Group’s Ozark plant, which began operations in 1981, employs more than 90 people with substantially higher wages than the average of Franklin County. [Read more…]

Heartland Renaissance Fund of Little Rock announced Tuesday that it will invest $10 million in a new SGL Group facility in Ozark. SGL manufactures graphite and carbon electrodes and other carbon-based products. Its Ozark operation, opened in 1981, employs roughly 90. Heartland’s investment is a part of a $26 million overhaul of the Ozark plant, announced in April, that it says will replace current operations with a state-of-the-art graphitization process for the manufacture of graphite electrodes, used for the production of steel in electric arc furnaces. The new plant is expected to be completed by June 2015. [Read more…]

In the latest legislative session, Arkansas lawmakers passed a measure touted as a jobs creator, the New Market Tax Credits. The bill encouraged private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments including at existing businesses. On Tuesday (July 9), Heartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, said it will provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility. [Read more…]

In the latest legislative session, Arkansas lawmakers passed a measure touted as a jobs creator, the Arkansas New Markets Job Act. The bill encouraged private sector investment in small businesses, particularly in low-income regions, by providing tax credits tied to private capital investments including at existing businesses. On Tuesday (July 9), Heartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, said it will provide $10 million in New Markets Tax Credits to SGL Group’s Ozark, Ark. manufacturing facility.  Heartland’s investment is part of a federal new markets program, as the state’s version does not go into effect until July 15. [Read more…]

New Markets Tax Credits were utilized in over 2,600 businesses and 3,990 real estate investments across the country between 2003 and 2011, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today. In addition, over 75 percent of the tax credits were invested in census tracts that met one of three indicators of “severe distress,” such as lower incomes, higher rates of poverty, or higher unemployment rates—criteria greater than the minimum requirements for the New Markets Tax Credit Program. [Read more…]

One of the first questions we often hear from prospective borrowers is “Can I use New Markets Tax Credits for my project?”  The NMTC program is a very powerful incentive to attract private capital for the right projects. To understand if the NMTC incentive is a good fit for your project one of the first questions you should ask is: [Read more…]