On Friday, October 11, 2019, Novus Advanced Manufacturing, LLC., a manufacturer of steel framing components and accessories for the construction of commercial and residential structures, celebrated the grand opening of its newly renovated operations facility in St. Joseph, Tennessee, with a ribbon-cutting ceremony.
Stonehenge Capital’s New Markets Tax Credit investment of $10.5 million enabled Novus to acquire, upgrade and expand the 18,000 square foot facility, creating 174 jobs in this rural community of about 700 residents.
Tennessee Governor Bill Lee said the success of companies like Novus were the foundation of Tennessee’s economy.
“I appreciate Novus for seeing the advantages of doing business in Tennessee and choosing to expand and create nearly 175 new jobs in St. Joseph,” said Gov. Lee. “I look forward to continuing our partnership with Novus and wish them future success in Lawrence County.”
Tennessee Department of Economic and Community Development Commissioner Bob Rolfe congratulated Novus on its decision to expand in St. Joseph and thanked the company “for creating 174 high quality manufacturing jobs.”
Novus Advanced Manufacturing, a subsidiary of Hunt Services, Inc., is a minority-owned and operated business. The company specializes in manufacturing steel panels for the hospitality and retail center sectors.