TurboSquid Case Study
Founded in 2000, New Orleans-based TurboSquid provides a global marketplace for innovative digital products, particularly 3D models, by enabling users to publish, promote and sell their content to users around the world.
NEW MARKETS INVESTMENT
In December 2009 and again in 2010, TurboSquid was able to access capital through the federal New Markets Tax Credit program, a program designed to stimulate economic growth in communities historically underserved by traditional sources of capital.
The New Markets financing provided fresh capital to pursue strategic plans, including refinancing debt, adding patient equity capital, extending debt maturities, lowering interest rates and allowing the company to triple in size, from 19 to 61 employees.
- NMTC investment in TurboSquid, the largest library of 3-D products for sale in the world
- Company is dedicated to remaining in New Orleans and building TurboSquid’s position as the preeminent provider of digital assets to a wide variety of industries
- Funding drives job growth from 19 to 61 employees with substantial additional growth anticipated