Completed Projects
Project Kenosha Innovation Center
Project:
Kenosha Innovation Neighborhood, Inc. (Kenosha Innovation Center) is seeking a New Markets Tax Credit (“NMTC”) allocation of $16.5 million from FIRE for the construction of a 60,000 SF innovation center that will serve as a home to entrepreneurial development programs. Moreover, the Project has received a $14 million State of Wisconsin Neighborhood Investment Grant as well as City of Kenosha TIF allocation.
Total Project Costs $16,500,000
FIRE NMTC Allocation $16,500,000
NMTC Investor Capital One, N.A.
Closing Date March 2024
Distress Criteria
Community Impacts
Jobs:
Approximately, 144 of the Project’s newly created FTE jobs are expected to pay a weighted average wage of $21.63 per hour, therefore, 100% of the created FTE jobs are expected to pay a wage in excess of the living wage threshold. All full-time positions will receive health, dental, and vision insurance, and retirement contributions benefits.
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.