Nebraska New Markets Tax Credit program draws growth capital to a rural Nebraska community
SCOTTSBLUFF, Neb. – Langer Industrial Service, LLC, today announced the $1.9 million investment from Stonehenge Capital through its Nebraska Small Business Loan Fund. The investment allows family-owned Langer to grow its new headquarters in Scottsbluff, Nebraska.
Langer is a full-service metal recycling company that processes iron-based metals, aluminums, copper and zinc for industrial clients. Langer collects scrap from farm equipment, shipping containers, demolitions and metal shearing and then processes and separates the metals. The metals are then transported to nearby metal shredding companies or steel mills, who melt down the recycled scrap for its intended use.
“Scrap metal recycling has been our family business for generations,” said Pete Langer, owner and manager of Langer. “Our partnership with Stonehenge will help our business continue to serve Nebraska and our community.”
The capital provided by Stonehenge Capital through the Nebraska New Markets Tax Credit program will help Langer to grow its new headquarters in Scottsbluff, an area of great economic distress, and to create 10 new jobs in a community with a population of approximately 15,000.
“Being a family-owned business, Langer is a promising asset to the Scottsbluff area, and our investment serves to build up the community by providing jobs,” said L’Quentus Thomas of Stonehenge Capital.