Manufacturer Expands Operations in Eldon, Mo Creating Hundreds of New Jobs

(Eldon, MO and Brunswick, ME – October 5, 2024) CEI Capital Management LLC and Heartland Renaissance Fund, LLC today announced a $25 million investment for the expansion of the Quaker Windows & Doors manufacturing facility in Eldon, Missouri through the New Markets Tax Credit (NMTC) program. A leading manufacturer of energy-efficient windows and doors, Quaker’s expansion will create 220 new jobs and further solidify Quaker’s position as a major employer in the region.

Founded in 1949, Quaker Windows & Doors has a long history of providing high-quality products and supporting the local community. The company’s Eldon campus has experienced substantial growth in recent years, with the addition of over 500,000 square feet of manufacturing space. The latest expansion will add another 344,000 square feet, including a new vertical paint line and expanded insulating glass production capacity.

“We are excited to further expand in Eldon and contribute to the local economy,” said Kevin Blansett, CEO of Quaker Windows & Doors. “This growth will enable us to meet the rising demand for our products while also providing valuable job opportunities for the community.”

The new jobs will offer competitive wages, comprehensive benefits, profit-sharing, and opportunities for training and advancement. Quaker is committed to providing a positive work environment and fostering employee development through its in-house “Quaker University” program and through partnerships with State Fair Community College and the Eldon Public School District.

The expansion is supported by a $12 million investment from CEI Capital, a leading provider of capital to businesses in underserved rural communities. Heartland Renaissance Fund, LLC, a subsidiary of Arkansas Capital Corporation, provided an additional $13 million investment. The NMTC program is a federal program that provides tax incentives to investors who invest in businesses located in census tracts with low incomes. Dudley Ventures/ Valley Bank provided the NMTC equity. Hope Community Capital served as investment consultant to CCML.

“We are proud to support Quaker Windows & Doors’ expansion and its commitment to creating good jobs in Eldon,” said Traci Vaine, CEO at CEI Capital. “Good jobs that provide a living wage, benefits and opportunities for advancement are one of the best avenues to providing economic stability and wealth building for people and families. This project is a great example of how the NMTC program can support rural communities.”

“Heartland Renaissance Fund and Arkansas Capital are proud to be one of the financing partners supporting Quaker’s expansion,” said company CEO Sam Walls.  “This project is an important part of growing Eldon’s economy and providing accessible, quality jobs for local residents.”

About CEI Capital Management

CEI Capital Management works nationally to connect new and existing rural manufacturing companies with flexible capital through the Federal New Markets Tax Credit (NMTC) Program and the Maine New Markets Capital Investment (NMCI) Program so they can build good jobs that provide living wages, comprehensive benefits and opportunities for training and advancement. Since 2004, CCML has placed over $1.11 billion of NMTC/NMCI capacity in 105 projects. www.ceicapitalmgmt.com

About Arkansas Capital Corporation

Arkansas Capital Corporation (ACC) is a private, nonprofit lending corporation dedicated to empowering entrepreneurs in Arkansas and surrounding states. ACC offers flexible capital solutions to meet the unique needs of entrepreneurs, small businesses, and economic and community development projects, emphasizing serving low-income, minority, and rural communities. Since 1957, ACC has partnered with commercial banks, government agencies, and others at local, state, regional, and national levels to deploy over $2.8 billion in capital financing. Learn more about us on our website at https://arcapital.com and follow us on Facebook and Instagram at @arcapitalcorp. You can also connect with us on LinkedIn.

Photo: Caption – Employees at work at the Eldon campus of Quaker Windows and Doors, which will be expanded by 344,000 square feet with the new financing.  Photo courtesy of Quaker Windows & Doors.