October 24, 2014

Bridgeport, CT- Mayor Bill Finch will host a groundbreaking celebration today to mark the construction of a new manufacturing and distribution facility for Tri-State Biodiesel in Bridgeport, CT. The event will take place at The Bridgeport Eco-Industrial Park (Andover Street) on Friday October 24, 2014 at 10:30am.

 

The Tri-State Biodiesel project is part of a significant green investment into the Bridgeport Eco-Industrial Park that supports the creation of new “green collar” jobs. Tri-State Biodiesel expects to create an additional 25 jobs, targeted to residents of the low-income community, within the first two years of operation.

 

“We’re thrilled that Tri-State Biodiesel is expanding in Bridgeport, Conn.,” said Bridgeport Mayor Bill Finch. “In Bridgeport, we believe that cities need to take leadership in going green for the sake of future generations. And, we’re winning the future by developing Eco-Technology Park – an incubator for business growth and home to hundreds of green jobs – with the support of successful companies like Tri-State Biodiesel. It’s one of the many reasons why Bridgeport is getting better every day.”

 

Capital provided by NDC’s Grow America Fund will support the construction of a new state-of-the-art bio refinery, where Tri-State Biodiesel will manufacture and distribute biodiesel fuel. NDC’s Grow America Fund also partnered with the The JPMorgan Chase Foundation’s Collaboratives Program, which is designed to help small business lenders build capacity and to jumpstart job creation in low- and moderate-income communities.

 

“Tri-State Biodiesel is exactly the type of company which the Grow America Fund, NDC’s wholly-owned small business lending affiliate, seeks to support with long-term, low cost financing,” observes Kevin Gremse, an NDC field director who has worked in the Bridgeport market for over a decade. Gremse further states  “not only does this business perfectly complement Mayor Finch’s program to diversify the economy with an Eco-Industrial Park, Tri-State Biodiesel is a business that has one the highest job growth prospects in Bridgeport in several years.”

 

About National Development Council 

Founded in 1969, the National Development Council (NDC) is a national non-profit organization that has evolved into one of the most progressive and innovative community and economic development organizations in the country.  From a seminal role in the earliest days of the community development movement, NDC has grown into one of the most comprehensive providers of financing, development expertise, technical assistance and training for community revitalization efforts throughout the U.S.  www.nationaldevelopmentcouncil.org

 

About NDC’s Grow America Fund

NDC’s Grow America Fund (GAF) is a New York City Based Community Development Finance Institution (CDFI) licensed under US SBA preferred lenders program (PLP). GAF focuses on providing flexible and patient expansion loans to existing small businesses, manufacturers and distributors. www.ndcgaf.org