We are incredibly thankful to the Greater Milwaukee Foundation for investing in our firm.
Foundation’s newest impact investment supports diverse construction firm
Further expanding access to capital for Black and Brown owned businesses, the Greater Milwaukee Foundation has issued a new impact investment loan of $1.54 million to Milwaukee-based JCP Construction. The funds will support the company in a variety of ways, including growth and job creation now and for the future.
As a result of this investment and projects coming online in the coming year, JCP expects to increase both office staff and its workforce in the field.
“The missing puzzle piece to broader economic participation and growth isn’t talent, or creativity, or effort – it’s external investment,” said Kenneth Robertson, Foundation executive vice president, COO and CFO. “The Foundation is stepping in to make resources – its own and those from donors – more accessible in communities where the practices of traditional lenders have often raised additional barriers for businesses and entrepreneurs. We’re glad to be in position to support the success of a firm that is both locally grown and known for providing career opportunities to underrepresented groups that historically aren’t given chances to advance in the construction industry, which strengthens our community overall.”
JCP was established in 2008 by brothers Clifton, James and Jalin Phelps. With a central office on King Drive and a commitment to employing a workforce that reflects the community they serve, the company is an important part of Milwaukee’s diverse business ecosystem. JCP has a range of capabilities in the field, including pre-construction services, general contracting, subcontracting and construction management.
JCP has contributed to some of the most recognizable projects in Wisconsin, including the Fiserv Forum, the Milwaukee Mitchell International Airport remodel and the Northwestern Mutual tower and commons. Outreach Community Health Centers’ clinic addition is among their current projects, and they will have a role in the ThriveOn Collaboration’s ThriveOn King project.
“This loan gives us the opportunity to operate from a position of strength as we ramp up for all of the work we have projected for 2022,” said JCP co-owner Clifton Phelps. “This is the biggest investment infusion we’ve ever had, which will allow us to strategically grow. The impact is going to be great. It allows us to sharpen our talent pool in the office and increase our capacity – which equals more jobs, which equals more paycheck dollars going to disenfranchised folks in the city of Milwaukee through our Black and Brown workforce. Most of all, this is a great partnership.”