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2021 Operating Business QLICI of the Year Award Recipient

TemperPack Virginia Inc.

CDE: AMCREF Community Capital

Developer and Owner: TemperPack Technologies, Inc.
Location: Richmond, Virginia

TemperPack Virginia Inc. will benefit from a $15 million QLICI by AMCREF Community Capital that enabled it to expand its production capacity in a severely distressed area with 41.9% poverty and a 17% unemployment rate.

The company’s ClimaCell insulated shipping containers replace nonrecyclable Styrofoam and plastic and are designed to be recycled alongside carboard. The extra capital allowed TemperPack to purchase advanced automation equipment.

TemperPack began as a garage-based business in 2015 and now has more than 300,000 square feet of manufacturing space. The company sought to accelerated its plans to expand operations and increase hiring, but had difficulty with expansion capital. The NMTC funding allowed TemperPack to transition staffing agency jobs to full-time, skilled jobs. The project is expected to create 77 new direct permanent jobs and retain another 151 permanent jobs.

Return to 2021 Community Development QLICIs of the Year Awards

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