NCIF Supports AstaReal Technologies through NMTC

By: NCIF - Sep 25, 2014
Source: NCIF Network News
NCIF has provided AstaReal Technologies, Inc. with a NMTC allocation of $7 million to establish a rural manufacturing plant. The project will bring AstaReal its first U.S. location and potentially transformative impact to the highly-distressed Moses Lake, WA area. The new facility will bring an estimated 50 new, permanent jobs to the local community which currently has an unemployment rate of 19.8 percent. To deepen its engagement with Moses Lake, AstaReal will connect with local Big Bend Community College for both jobs sourcing and jobs training, ensuring that positive impacts are captured locally, particularly to the benefit of Lake Moses’ low-income population. Additionally, AstaReal plans to power its plant with hydroelectricity, calling on the natural resources of the Columbia River in Washington.

NCIF is proud to work with CDFIs, Craft3 in the Pacific Northwest and Community Bank of the Bay out of Oakland, on this project as key partners in our latest 3-Way Partnership.