Lincoln Electric – Cleveland, Ohio
Nolan Sheehan Patten represented the Development Fund of the Western Reserve’s community development entity (CDE) in delivering $5,000,000 of NMTC investment to finance the development of a 120,000 square foot welding and technology training center in Cleveland, Ohio. Lincoln Electric Welding School instructs and trains individuals throughout Ohio in the various methods and techniques of safety and arc welding processes. The new training center will increase capacity for training and retaining cutting-edge manufacturing employment and growth in the Cleveland area.
Chroma Technology Corp. – Bellows Falls, Vermont
Nolan Sheehan Patten represented the CDE lenders in connection with a $21.5 million loan to finance a 36,800 sq. ft. renovation and expansion of Chroma Technology Corp.’s optical manufacturing facility in Bellows Falls, Vermont. The project is expected to create at least 20-25 new jobs over several years, while also retaining 113 jobs in the area. The transaction also financed new manufacturing equipment, expanded parking and related site improvements.