Cosmetics manufacturer Autumn Harp to receive local funding

By Deanna Utroske

- Last updated on GMT

Cosmetics and skin care manufacturer Autumn Harp to receive funding

Related tags Manufacturing

The Vermont-based beauty maker has been awarded economic development financing that should, in the end, mean more jobs for residents of the area.

Monday, The Vermont Economic Development Authority announced a new round of financing, totaling over $15m, for select in-state manufacturers as well as for some agricultural enterprises, energy ventures, and small business projects. “VEDA is pleased to provide financing assistance to several manufacturing businesses that are expanding and creating new jobs for Vermonters,”​ Jo Bradley, VEDA's CEO, tells the press.

VEDA has been operating since 1974. The non-profit economic development financer aims to create and safeguard jobs by facilitating business growth through direct loans, loan guarantee, and by issuing tax-exempt bonds. Thousands of Vermont businesses have benefited over the 40+ years VEDA has been operating. The group has reportedly “provided over $2.288 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, family farms, and agricultural enterprises.”

New money

As part of this latest round of funding, VEDA announced that Autumn Harp has been approved for financial assistance in the form of tax-exempt industrial revenue bonds.

The bonds, to be purchased by TD Bank, will fund an expansion of Autumn Harp’s cosmetic manufacturing facility as well as new machinery and equipment to keep pace with operational demands. As the VEDA press release puts it, “The company is in need of additional manufacturing space to meet increased product demand and ensure its ability to add additional products for its customer base of multinational companies.”

Currently the Autumn Harp manufacturing facility occupies 115,000 square feet and employs more than 200 people. The VEDA press item gave no estimates on the size of the planned expansion or number of new jobs.

Competencies  

Autumn Harp is owned by Black Bay Ventures. The company manufactures and provides cosmetic and skin care product R&D services to multinational beauty companies. “Autumn Harp is the silent partner to some of the biggest names in ​beauty,” boasts the company experience page. “To date, the collaboration results in hundreds of best-selling product launches with our brand partners.”

The company’s core expertise is anhydrous formulations. But Autumn Harp also takes pride in its emulsions and a number of product formula formats, including organic and natural formulations as well as preservative-free product formulas.

Autumn Harp claims “150% more brief-to-launch realizations than industry average,”“innovative technology and texture formulations,” “adherence to EU cosmetic directives and Japanese formulary requirements​,” and “global SPF and OTC skin protectant formulations”​ among its R&D proficiencies.

Related news

Show more

Related products

show more

Exosomes: Passing Trend or Transformative Reality?

Exosomes: Passing Trend or Transformative Reality?

Content provided by Naolys | 26-Mar-2024 | White Paper

Exosomes, microscopic vesicles naturally present in abundance within Plant Cells, have garnered significant attention within the scientific and cosmetic...

How Nutricosmetics Can Enhance Skin Beauty

How Nutricosmetics Can Enhance Skin Beauty

Content provided by Activ'Inside | 11-Dec-2023 | White Paper

In the ever-evolving realm of nutricosmetics, where inner wellness meets outer beauty, few natural ingredients have captured the spotlight quite like grapes.

Ultimate Antimicrobial Solution for BPC

Ultimate Antimicrobial Solution for BPC

Content provided by Acme-Hardesty Company | 11-Oct-2023 | White Paper

Sharomix™ EG10, a versatile broad-spectrum antimicrobial liquid blend for preserving personal care products, ensures safety at usage levels ranging from...

Acme-Hardesty Expands Product Line into Canada

Acme-Hardesty Expands Product Line into Canada

Content provided by Acme-Hardesty Company | 07-Jul-2023 | Product Brochure

Acme-Hardesty’s latest expansion into Canada includes Resplanta®, Botaneco®, and BYK from our partners Sharon Personal Care and Eckart Effect Pigments...

Related suppliers