This article originally ran in the St. Louis Business Journal on April 11, 2022.
A St. Louis-based industrial hemp fiber processor will expand its operations in Metro East after the company closed on $7 million in tax credit financing.
Tiger Fiber, which has operations in Sauget and Fenton, will expand its Sauget facility and add 90 permanent jobs there after receiving $7 million in New Markets Tax Credit financing, sourced and closed by Emerald Capital Strategic Advisors, an affiliate of St. Louis-based Green Street Real Estate Ventures.
With the new financing, the industrial hemp processor will be be able to add equipment and inventory to meet demand for its products, Emerald Capital said in a news release. The jobs created will pay above the area living wage, the company added.
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