Stonehenge Capital, a leader in tax credit financing and community development, is celebrating its 20th anniversary in 2019. In conjunction with the celebration, the company has released its 2019 Annual Impact Report, which highlights investments in communities across the country over the past year while also chronicling two decades of providing transformational capital to overlooked communities and businesses.
“At Stonehenge, we believe that impact investing means doing more for the small businesses and undeserved communities often overlooked by other investment firms,” Stonehenge Capital President Tom Adamek said. “We invest with the purpose of transforming our nation’s communities. As we celebrate 20 years in 2019, we look forward to serving the investment and development communities for another 20 years to come.”
Founded in Louisiana in 1999, Stonehenge Capital now manages more than $3 billion in investments across its three business lines: community development, tax credit services and growth capital. The company has financed more than 330 companies in hundreds of locations across the United States, investing in projects that have enabled businesses to create and retain more than 43,000 jobs.
In the past year alone, Stonehenge has supported projects such as:
· Flex-N-Gate, in Detroit, Michigan, a minority-owned American automotive company that was able to expand, creating 800 full-time jobs and revitalizing an economically distressed neighborhood
· Tech R2, in rural Pataskala, Ohio, a woman-owned technology company that hired additional employees to meet rising demand for its digital security services
· Omaha Early Learning Center, in Omaha, Nebraska, a new early childhood development facility located in Omaha’s historical center of African-American culture
· Verogy, in Hartford, Connecticut, a clean energy company that develops renewable solar projects
· The Grand Baldwin building, in Cincinnati, Ohio, which in 1921 was home to the Baldwin Piano Company and has now been transformed into 190 apartments
· Romark Pharmaceuticals, based in Tampa, Florida, is building a new facility in Manatí, Puerto Rico, where the community continues to recover from Hurricane Maria
· Novus Advanced Manufacturing, in rural St. Joseph, Tennessee, which expanded its manufacturing business to create 200 new jobs
· Apalache Mill, in Greer, South Carolina, a historic textile mill renovated and brought back to life as urban loft apartments
· The Standard, in Cleveland, Ohio, a former rail labor union building that underwent renovations to provide housing
These projects are highlighted in Stonehenge Capital’s 2019 Annual Impact Report. The report provides a snapshot of investing, quotes from partners and stakeholders, a company timeline and high-level statistics.
In honor of the 20th anniversary, Stonehenge Capital Founders David Meuse and Ron Brooks wrote an opening letter and reflected on the success of the company: “Among the many hallmarks of Stonehenge’s success is the strong belief that teamwork creates space for everyone. It creates palpable energy as people with complementary strengths combine to accomplish a mutually agreed upon objective. Perhaps the biggest benefit to a business that passionately invests in the concept of teamwork is that there are no unimportant jobs, no unimportant people. We have always believed that multiple, mostly autonomous boutiques within a company tend to expand capabilities, create enthusiasm and foster a keen sense of esprit de corps.”
To read the full report, click here.