2020 Operating Business QLICI of the Year Award Recipient
CDE: AMCREF Community Capital LLC
Developer: RWDC Industries
Owner: AMCREF Community Capital LLC
Location: Athens, GA
RWDC Industries is an early-stage biotech company located in Athens that harnesses nature to produce the materials in commonly used products. More specifically, RWDC Industries creates Solon brand bioplastics, which can replace traditional petrochemical plastics in packaging materials, particularly food packaging. RWDC uses locally sourced recycled waste cooking oils as a raw material for manufacturing their bioplastics.
The development’s CDE AMCREF Community Capital provided $7.7 million in NMTC allocation which allowed RWDC to close its financing gap and accelerate product development. The NMTC financing also helped RWDC secure long-term contracts and create jobs in the local community.
“RWDC is just the type of business AMCREF looks to support with NMTCs,” said Susan Seagren, managing director at AMCREF Community Capital. “RWDC is a high-growth company in an innovative new industry providing skilled, well-paying jobs via partnerships with local technical colleges and workforce groups. They’re also renovating a vacant facility in an economic development priority area. Finally, their biodegradable plastics address a pressing worldwide environmental problem.”