New Markets Tax Credit Program
Design Team Sign Company
Design Team Sign Company
Adamsville, TN
Founded by two brothers, Design Team Sign Company (DTSC) began as a provider of bench seat advertising for businesses located in West Tennessee. The business has since expanded to become a one-stop custom signage, branding and architectural design company serving clients across the US and Canada.
DTSC has embraced constantly changing deign and production technology, keeping the company operating in growth mode. To meet projected increase in customer demand, and remain in its hometown area, the owners embarked on a $15 million project to build and equip a new 325,000 sq. ft. facility located in a rural tract in Hardin County, Tennessee.
With beneficial impacts including both job creation and retention, and situated within a qualified census tract, the project qualified for New Markets Tax Credit (NMTC) allocations. BrightBridge Capital was one of two NMTC allocates to participate in the project.
BrightBridge worked closely with DTSC Chief Operations Officer Teresa Creasy to explain the process and to answer questions. Creasy commented that
“BrightBridge is excellent at breaking down the program and explaining crucial aspects, and why certain steps would be important down the road.”
The new facility provides additional manufacturing space, added storage and warehouse space for construction projects.
-
BrightBridge helps economically distressed communities attract private investment capital through the New Markets Tax Credit (NMTC) Program. This federal tax credit helps to fill project financing gaps by enabling investors to make larger investments than would otherwise be possible. Communities benefit from the jobs associated with these investments, as well as increased access to housing and public facilities such as health, education, and childcare.
The NMTC Program uses Community Development Entities (CDEs) through which private capital flows from investors to a qualified project located in a low-income community. BrightBridge participates by sponsoring River Gorge Capital as the CDE we use to structure and secure investment capital for NMTC projects.
-
Projects generally need to be $5MM or larger, but we have been successful in structuring smaller projects under some circumstances.
-
In addition to managing our own projects, we are a consultant to projects that need NMTC by sourcing the tax credit allocation, investment and debt.
Recent Projects
We’re proud to work with partners who have a vision for their future and their communities. We have a robust NMTC (New Market Tax Credit) program to assist with projects like these. Whether it’s the Model Mill in Johnson City, TN, Plush Mill in Greenville, SC or the Tomorrow Building in Chattanooga, TN, BrightBridge has been a business partner to leverage their success.
Tomorrow Building in Chattanooga, TN
Plush Building in Greenville, SC
Model Mill in Johnson City, TN
Contact Us
We are always glad to speak with economic development agencies, manufacturers, community service organizations, developers and bankers about the benefits of this impactful program.
