First Wave is a Tulsa-based aerospace company located in Bristow, Oklahoma. By harnessing the NMTC, Bristow Aviation Investment, LLC, a for-profit subsidiary of SpiritBank, was able to make a $14.6 million investment in REI New Markets Investment, LLC which in turn made a loan to First Wave. Of that amount, $5.1 million went to the construction of a 220,000 sq. ft. aircraft repair facility.
The remaining $1.5 million went for the purchase of equipment and $8 million was directed to inventory.
This project helped the community of Bristow recover some of the 1,200 lost jobs with the closing of a door lock manufacturing facility.
