Completed Projects
Project VisAbility Center
The Project:
First-Ring Industrial Redevelopment Enterprise, Inc. approved $6,000,000 of New Market Tax Credit NMTC allocation in connection with additional NMTC allocations from Impact Seven and PNC Bank to support Beyond
Vision’s VisABILITY Center. The VisAbility center included the adaptive reuse of a 130,000 SF former Sam’s Club into an inclusive and adaptive facility for people with vision loss or blindness. Beyond Vision has expanded from offering manufacturing services to including fulfillment, assembly, packaging and customer care services.
The Project provided space for organizations focused on supporting and employing persons with vision loss to co-locate at the facility. This co-location model provided a holistic approach to assisting persons with vision loss by providing employment and services at the same site.
Total Project Costs $6,000,000
FIRE NMTC Allocation $6,000,000
NMTC Investor PNC NM Invest. Prtnr
Closing Date September 2021
Distress Criteria
Community Impacts
Jobs:
The Project will allowed Beyond Vision to retain its 115 current employees and have the capacity to create an additional 155 full-time positions. These positions were expected to pay an average annual wage of $47,000 or $22.58 per hour. Additionally, 34 temporary construction jobs were created.
FIRE welcomes requests for NMTC’s throughout the year as we work to maintain an active pipeline of viable and potential projects throughout the region.