CEI Capital Management

Coastal Enterprises, Inc. (CEI) and its for-profit subsidiary, CEI Capital Management LLC (CCML), have been awarded $858 million of investment capacity under the U.S. Treasury Department’s New Markets Tax Credit (NMTC) program. CCML has placed $783 million of this capacity in 80 projects triggering total private capital investment in low-income communities of over $2.14 billion that directly supports CEI’s triple bottom-line or “3E” measures for Economic progress, social Equity, and Environmental sustainability. CCML has a national service area under the NMTC program with an emphasis on rural areas.

Impacts and Investments

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Investment Themes

  • Rural Community Investments. Loans to operating companies in rural communities, often sustainably-managed natural resources as key assets in their businesses, to create value-added products (e.g. working forests, biomass energy, wood products, agricultural processors, marine businesses, and recreational tourism ventures).
  • High Community-Impact Business and Real Estate Investments.  Loans to operating companies and real estate developments with compelling triple bottom-line (“3E”) features, including use of renewable energy, energy conservation, and “green building” design.

Key Triple Bottom-Line (“3E”) Results

  • $2.14 billion of new private capital investment in low-income areas has been leveraged by $783 million of CEI/CCML NMTC investment capacity along with $500.2 million NMTC capacity from others, resulting in a leverage ratio of $1.76 of private capital to every $1 of CEI/CCML NMTC capacity utilized.
  • Over 1,308,000 acres of timberlands committed to sustainable forestry practices and retained as working forests for traditional mill supply purposes and additional economic development in recreational tourism and other industries.
  • 25 megawatts of green energy and over 647,990 gallons of alternative fuel generated annually through solar, biofuel or other alternative energy solutions.
  • Over 4,895 FTE direct jobs preserved or created and 2,279 construction jobs created*. Indirectly, tens of thousands of additional jobs are involved in the fishing, paper and wood products, recreational tourism, and related manufacturing, transportation, and service industries.
  • 76 of the 80 deals are in especially-challenged “targeted distressed community” areas.
  • 33 of the businesses financed are mission-driven, non-profit enterprises.
  • 43 of the businesses financed are located within non-metropolitan census tracts.

 

‡ 3E results have been prorated to reflect the CEI/CCML portion of total NMTC funding.

* Unless otherwise noted, all jobs data contained herein is taken directly from the Transactional Level Reports submitted by CCML to the US Treasury’s CDFI Fund.  All jobs data is reported by the project Borrower and is not independently verified by CCML.