The First Orion investment, in connection with the New Markets Tax Credit (NMTC) program, supports the company’s growth and promotes local economic development and jobs in North Little Rock.
LITTLE ROCK, Ark.--(BUSINESS WIRE)--Advantage Capital today announced an investment in First Orion – a global communications technology company based in Little Rock, AR – to help finance the completion of its new global headquarters and bring as many as 50 new jobs to the downtown neighborhood. The investment was made in connection with the federal and Arkansas NMTC program, which helps bring investment capital to areas like North Little Rock in order to promote business growth and job creation.
First Orion is a leading cloud communications company, providing data-driven call and messaging transparency solutions which protect and enhance the communications experience for millions of consumers, businesses and major carriers globally. The company leverages data, advanced algorithms and machine learning to identify and block the more than 50 billion robocalls, telemarketers and other unwanted callers U.S. consumers received in 2019, as well as provide enhanced and verified caller ID solutions which enable consumers to trust their phones again.
“This move comes at a pivotal time in our company’s continuing expansion,” said Charles D. Morgan, CEO of First Orion. “This is such an exciting time for First Orion, and we are thrilled to keep the momentum going in transforming the Central Arkansas region into a prominent technology hub. With the additional capacity at our new headquarters, we anticipate hiring at least another 50 high-tech employees, helping to keep Arkansas’ highly skilled workforce here in our state. The NMTC program is helping us reach these goals.”
First Orion’s new 60,000 sq. ft global headquarters will be the anchor tenant of the newly developed Argenta Plaza. The headquarters, which can accommodate up to 350-400 employees, will help to bring at least 50 additional quality jobs to a distressed area of Little Rock where close to a quarter of the population lives in poverty. This is just the latest in the company’s outstanding growth. Since 2014, First Orion has grown its number of full-time employees from 36 to 204.
“First Orion is a great example of what we aimed to achieve with the New Markets Tax Credit program – facilitating private investment capital into businesses in distressed communities, in particular those companies that can create and maintain good, quality jobs to benefit Arkansas families,” said Senator John Boozman. “Companies like First Orion are a testament to the positive impact of targeted incentive programs, and we must make sure Arkansas businesses like it have what they need to continue to expand, help redevelop communities and build up local economies across the state.”
“We have seen strong results in Arkansas through our participation in the NMTC program, and we are excited to continue working with rapidly growing companies such as First Orion,” said Damon Rawie of Advantage Capital. “Companies like First Orion are the types of businesses we look to invest in: those with growth potential and in a position to generate high-quality jobs, drive local economic growth and make a lasting impact in the local community.”
About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About First Orion:
First Orion powers call management and transparency solutions for T-Mobile, MetroPCS, Boost Mobile, Sky, Virgin Mobile, and Simple Mobile along with PrivacyStar applications for smartphones. First Orion currently provides control, call blocking, call transparency and call management solutions to millions of mobile handsets. First Orion’s Engage technology tells mobile subscribers who is calling and why, empowering them with the ability to take action. With branded and white-labeled applications as well as in-network solutions, First Orion assists phone carriers in protection mobile and fixed-line subscribers by identifying and stopping millions of scam calls every day.
Advantage Capital is an investment adviser registered under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. The information in this release is not intended to be an advertisement concerning investment advisory services or an offer to buy or sell securities of any type. Advantage Capital is an equal opportunity provider.
The investments and portfolio companies referenced in this release represent only a sample of companies that have received investment capital from Advantage Capital-related entities. For a complete list of such companies, please see our website at advantagecap.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results.
Joe Stosberg, Communications Specialist