A core component of the capital that is responsible for helping bring this company into the next stage of readiness for full-scale commercialization is from an immigrant investment program, commonly known as EB-5. This immigrant investment program allows for low cost of financing in a federally regulated program that in its purest interpretation is to encourage sustainable, job creation in rural or low employment areas.
It is no secret that manufacturing projects in rural-middle America are not considered “sexy” as they compete for funding with glamorous high-rise developments in cities such as New York and Los Angeles. However, the EB-5 program was created in 1990 as an economic stimulus program and a lower investment threshold was created to encourage investment into this exact type of sustainable job creating enterprise. Gorilla Products remains focused on promoting the need for investment in rural America despite its obstacles.
The EB-5 concept provided them an international stage to present their product and business model to targeted entrepreneurial-minded international individuals and a platform for global exposure. This approach worked as it has brought the management numerous opportunities for global growth and expansion while securing the financing for the North American operation.
Today, Gorilla Products has been able to secure the necessary funds, that combined with their own internal capital contribution, has allowed the remediation of the manufacturing site to begin. In addition to EB-5 financing, this project has funds from small-town local and state banks supporting local economic development and various incentive packages.
Gorilla Products appreciates the challenges rural America faces. It is honored to become part of a community where their payroll and taxes can help serve as a boost to the public school system, hospital, local small retail and food services and infrastructure.
As the next year brings great change for Gorilla Products, a focus is placed on the company’s pledge to give back to the city of Lamar, Missouri, and surrounding communities. The leaders of Lamar have been patient and supportive as the company has worked to implement the necessary strong and long-lasting base for the community. All parties understand that failure cannot be an option for either its citizens or investors.
The CEO was a volunteer deputy in the State of California and it is of personal and utmost importance that the local law enforcement has the support it needs from local business owners.
As this company grows and moves towards the final stages of preparation, it is eager to become a significant employer for this area and will remain committed to the education and training of the local work force as part of their community commitment.