Ingevity

The Innovate Fund allocated $7 million in NMTCs to provide flexible, below market financing to Ingevity Corporation for the build out and upfit of its new 84,283 sq. ft. headquarters in North Charleston, SC. Ingevity provides specialty chemicals, high-performance carbon materials and engineered polymers that purify, protect, and enhance the world around us. Ingevity operates from 25 locations around the world and employs approximately 1,750 people. The new headquarters will allow for employment growth and consolidate employees into one location while also allowing for the current Ingevity Technical Center, also located in North Charleston, to return to its original purpose as a research laboratory. 

Located in a Low-Income Community with 36.60% Poverty rate and 43.66% Median Family Income, Ingevity’s new headquarters supports 250 permanent jobs and 43 construction jobs over the NMTC compliance period. Along with The Innovate Fund’s other projects in North Charleston (Limehouse Produce, pg. 38; Restaurant Depot, pg. 32), Ingevity Corp. is an example of our strategy to cluster investments in severely distressed geographic pockets to increase our community impact. 

“Ingevity has been a longtime supporter of our community and we’re happy to see they’ve chosen to remain headquartered here in North Charleston.” 

-Keith Summey, Mayor of North Charleston