American Industrial Brands Fund 1, LLC is raising EB-5 capital to fund the expansion of a manufacturing facility for sanitary fixtures such as bathroom fixtures, sinks, toilet bowls, bathtubs, and related parts in Kokomo, Indiana (the "Project").
The Project is located in Indiana, and qualifies as a high-unemployment targeted employment area.
Many manufacturers in the United States. that had previously outsourced production to foreign countries for cost-saving purposes are now reshoring their operations. To ensure successful relocation, manufacturers must embrace modern technology to bridge labor gaps and reduce costs, thereby maintaining competitiveness. The Project's facility employs state-of-the-art robotics for product manufacturing, resulting in decreased labor costs and shorter production times. In addition, Indiana, being a "right-to-work" state, has a labor force that is not unionized, leading to lower labor costs. These two factors, combined with a vertically integrated manufacturing process, contribute to higher profit margins.
The Project is expected to create 209 jobs, resulting in an excess of 49 jobs or approximately a 31% job cushion.
The total cost of the Project is $27,000,000. The Project is raising up to $12,800,000 from 16 EB-5 investor through a Private Placement Memorandum dated December 14, 2022.
The Project is sponsored by Smith Central Regional Center, LLC.