The Greater Milwaukee Foundation has awarded JCP Construction a $1.5 million loan to help the company grow and add workers.
The minority-owned construction company plans to use part of the loan to hire more office and field staff, according to a news release. The firm has worked on various prominent projects in the Milwaukee area, including the Fiserv Forum, Mitchell International Airport , and most recently, a $15 million addition to a clinic for Outreach Community Health Centers.
“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.”
JCP was founded by Clifton, James and Jalin Phelps in 2008 and performs a variety of services, including pre-construction, general contracting, subcontracting and construction management.
The loan comes from the Greater Milwaukee Foundation’s impact investment program, which builds off a commitment the foundation made in 2020 to spend $30 million through the program over five years to advance equitable economic opportunities. The foundation has already met about half of its commitment.
The program has supported projects that include the Martin Luther King Economic Development Corp. Five Points Lofts development, the Near West Side Partners Travis Block development and the ThriveOn King project.
“Foundation donors have been ground-floor partners in the creation and growth of our impact investing program,” said Ellen Gilligan, Foundation president and CEO in a statement. “Many have been entrepreneurs themselves or are champions of local and small businesses, and we share a common passion for a thriving economy that is inclusive, innovative and community-centered.