EAU Ignites Bold Growth and Opportunity in St. Louis

Electrical Accessories Unlimited (EAU), a longtime St. Louis-based contract manufacturer, has closed financing for a $9 million expansion of its 35,000-square-foot facility. With help from the New Markets Tax Credit (NMTC) program and financing guidance from Impact Marketplace, the expansion will retain 33 jobs and create 31 new ones—most of which are accessible without a four-year degree.

Since 1983, EAU has supplied custom wire harnesses, cable assemblies, and box builds for clients across the telecom, military, automotive, and industrial sectors. Equally important is the company’s commitment to inclusive hiring and employee development.

EAU partners with local organizations like Oasis International, which supports refugee employment, and Hilljack House, which helps individuals in recovery access housing and job opportunities. With in-house interpreters and on-the-job training, the company ensures its diverse workforce has tools for long-term success.

As EAU’s NMTC advisor, Impact Marketplace structured a capital solution that included $7 million in NMTC allocation. That financing helped make the expansion possible—while keeping the company rooted in a Severely Distressed census tract in South St. Louis.

“This is exactly the kind of project NMTC is meant to support—community-anchored, growth-oriented, and workforce-driven,” said James Heffner, Principal at Impact Marketplace.

EAU’s expansion will nearly double its workforce over the next several years. To prepare, the company is implementing an internal training matrix, offers third-party training through Zywave, and prioritizes internal promotions for career advancement.

Employees will benefit from:

• Technical training in electrical assembly, wiring, and testing

• Multilingual support and interpreters

• Structured advancement paths

• A full suite of employee benefits, including healthcare and 401(k)

The successful closing of the EAU expansion was made possible through a public-private collaboration that reflects the best of impact-focused finance:

• St. Louis Development Corporation (SLDC) provided the $7 million NMTC allocation, supporting the city’s goal of advancing equitable economic growth and strengthening minority-owned businesses.
• US Bancorp Impact Finance served as the NMTC investor, delivering equity capital to help close the financing gap and ensure EAU could scale operations without relocating outside of the city.
• Midwest BankCentre, a trusted local lending partner, provided financing to round out the capital stack and support the NMTC financing.

This investment helps secure the future of a community-rooted manufacturer that has served St. Louis for more than 40 years. By expanding in place, EAU strengthens its supply chain capabilities and deepens its commitment to accessible, stable jobs in the city.

“This isn’t just an expansion—it’s an investment in our people and our future,” said John Chen, Owner at EAU. “We’re proud to keep growing right here in South City.”