Program-related investments (PRIs) are typically low-cost loans or loan guarantees and equity investments provided at below-market rates and with expected higher levels of risk. Like grants, PRIs are made to support a charitable activity in one of our core areas of interest. Unlike grants, PRIs are expected to be repaid and may provide a financial return over the course of the investment.
Baltimore BioWorks is a newly created medical manufacturing company based in Baltimore City, specializing in the manufacture and distribution of medical and research supplies, and contract research. The company offers vocational training to high school graduates and low-skilled workers for entry-level positions in bioscience through hands-on laboratory, warehouse distribution, and sales experience and skill development. Baltimore BioWorks intends to develop three primary business lines and revenue generators: 1) sales of basic research and pharmaceutical products such as gloves, test tubes, pipettes, and other laboratory equipment and reagents; 2) chemical manufacturing of solutions and reagent products, starting with generic products and eventually customizing these for specialized needs of laboratories and research institutions; and 3) a pharmacokinetics laboratory research program that would, on a contract basis, perform specialized research for product development using lab animals in a highly regulated, FDA-approved facility. The principal founder is John Powers, M.D., Ph.D, a research scientist and founder of two successful companies that were subsequently sold.
Harbor Designs and Manufacturing
Harbor Designs & Manufacturing is a well-respected product design, prototype development, and small scale manufacturing firm located in the heart of Baltimore City’s Carroll-Camden Urban Renewal and Economic Empowerment Zone. Harbor Designs has over 30 years of product manufacturing experience and has designed, engineered, and manufactured a wide array of product offerings. Working from existing drawings or conceptual sketches, Harbor brings client ideas to production, providing valuable insight and innovation to keep projects on budget and on time to the highest quality standards.
Leveraging a program-related investment, Harbor Designs is building a high-end contract manufacturing facility to develop and produce cutting edge medical, consumer, biopharmaceutical, industrial, and consumer products in a GMP/ISO quality system. The facility will complement specialized manufacturing processes with fully integrated assembly and quality assurance, putting to work underutilized labor resources through job training and offering advancement opportunities to qualified workers.
Urban Pastoral Collective
Urban Pastoral Collective is building an integrated food and agricultural business in Baltimore City. The company is launching a modular shipping container farming facility, BoxUP™, in association with Humanim’s City Seeds Incubator and the Baltimore Food Hub in East Baltimore, and is developing site plans to build Baltimore City’s first commercial scale, hydroponic facility FarmUP™, in West Baltimore. Combining commercially proven hydroponic technology and vertical-farming techniques within a Controlled Environment Agriculture (CEA) facility, Urban Pastoral will cultivate hundreds of tons of fresh produce year round for consumption at local schools, businesses, and institutions. Through the cultivation of fresh, local produce, Urban Pastoral Collective holds potential for job creation, strengthening food security and sustainability, and increasing food entrepreneurship. Urban Pastoral Collective is headquartered in Baltimore, Maryland. Visit www.urbanpastoral.co for additional information.