Container Technologies Industries

With CY20 NMTC allocation, The Innovate Fund expanded its service area outside of the State of South Carolina for the first time to also include the states of North Carolina, Tennessee, and Georgia. The Innovate Fund Advisory and Governing Boards strategized that the expanded service area would provide for additional investment opportunities in underserved states, non-metro census tracts, and Appalachian communities. As the first non-South Carolina deal, Container Technologies Industries (CTI), represented a project that was not only in an underserved state, non-metro, Appalachian community, but the project provided an opportunity for The Innovate Fund to create jobs on a regional scale. 

CTI worked with The Innovate Fund and Pathway Lending, a first time allocatee of NMTC, to receive necessary financing to construct and equip their expanded 76,000 SF industrial facility. CTI is a fabricator of specialty nuclear waste containers, which are used to hold hazardous waste, materials, and equipment removed through the deactivation of contaminated facilities. The company hires skilled people, such as welders and painters to assist in the fabrication process. 

The $12,500,000 investment from The Innovate Fund will support at least 20 new, permanent, full-time jobs at the Helenwood facility, which will be added to the existing 39 employees retaining positions at the project site. Employees have access to opportunities including in-house training, wage progression, bonuses, and merit-based promotions. TIF’s investment into CTI will go to reduce the unemployment rate in Helenwood, TN, which is 16.8%. 

“The size of investment required for the capital improvements and purchase of new equipment would not have been feasible without the NMTC financing structure.” 

-Steve Fieldon, President/ COO, Container Technologies Industries, LLC