Advantage Capital, a leading investment adviser registered under the Investment Advisers Act of 1940, recently announced a $6.5 million investment in Danimer Scientific, which is a leading biotechnology company producing biodegradable and compostable polymers that are then used in consumer and industrial products. Per Advantage Capital, the investment is in line with the company's business goal of getting more growth by boosting its capacity while also significantly increasing its workforce at its Bainbridge, GA location through the next few years. Furthermore, the investment was also made possible through the GARJA program.
Per Jay Powell, who's a state representative, "The Georgia Agribusiness and Rural Jobs Act was created to bring investment capital and jobs to the more rural parts of the state. Danimer's growth is not only helping to solve key environmental issues facing the world today but is also bringing additional high-quality jobs to the local community of Bainbridge."
Bainbridge location
Bainbridge, a Western Washington city with a population of just around 12,000, currently faces the same challenges that have been plaguing most towns and residents across the rural areas of Georgia. This includes job loss and such. And as the city itself is still trying to recover from the 2008-2009 recession (which is a decade old already, at this point), rural businesses are still blocked by investment barriers, making it hard to for them to expand, compete, or even create any long-lasting jobs in the first place.
This is where Danimer comes into the picture, as the investment will enable the company to increase production capacity which will require many new employees that will be hired from the surrounding area. As one of the largest employers currently active in the region, three-fourths of the company's anticipated new jobs will also be highly accessible to those who have a high school degree, significantly helping a lot of people by helping them to grow in the local workforce. Furthermore, the company also plans on providing employees with specialized training to fill in any gaps in their skills, readying them for upward mobility and growth.
According to Danimer CFO John Dowdy, "I grew up in Bainbridge and am proud of the work we are doing at this company. Our employees work hard every day to create products that lead to a cleaner, more sustainable environment by replacing traditional petroleum-based plastics that are neither compostable nor biodegradable. This investment will allow us to more than double our capacity, hire new employees, and continue Daimer's rapid growth."
