Natureplex
South Memphis, Tennessee (Shelby County)
Financing equipment and facility renovations for a 2nd location catalyzing growth for a small, family-owned manufacturing business creating 130 jobs.
The Project
Natureplex is a small, family-owned manufacturer of value-priced over-the-counter pharmaceuticals. With limited growth capacity in its current facility, this project renovated and equipped a 259,760 SF industrial warehouse to create a manufacturing, distribution, and research center in a severely distressed area of south Memphis, TN.
Natureplex will expand the volume and selection of the low-cost, primary need over-the-counter (OTC) products it sells to predominately low to moderate income individuals at value retailers such as Walmart, Dollar General, and Dollar Tree. These products are used to treat conditions such as rashes, cold & flu, first aid, wound care, and minor pain. All of Natureplex’s products are made in America by a dedicated team of professionals with strict oversight by the FDA.
Community Impact
- 130 new jobs created, doubling its current staff over 5 years.
- 100% of job openings are made available to Memphis workforce development agencies, such as Advance Memphis which trains and places workers from some of Memphis’ lowest income neighborhoods.
- Increased volume and selection of primary need OTC products affordably priced for consumers available at value retailers across the US.
- The project includes a R&D Center and new production lines to support innovation, allowing Natureplex to remain competitive and produce 100% of its products locally.
Financing
- Total Project Costs: $7.6 million
- Total New Markets Allocation Secured: $7.5 million
Project Partners
- River Gorge Capital
- Truist Bank (formerly SunTrust Bank)
- Truist Community Capital (formerly SunTrust Community Capital)
- Natureplex, LLC
