AMARILLO, Texas (KAMR/KCIT) — The Amarillo Area Foundation is investing in the North Heights Linen Service project. The AAF investment committee approved a measure that allows part of AAF’s investment portfolio to be invested into the North Heights project. This equals the largest investment the Foundation has ever made in the Texas Panhandle at $3 million.
Local hospitals have been using services in Albuquerque and Oklahoma City. The new linen service will allow the hospitals to keep their service and money local, also saving transport costs.
“The Amarillo Are Foundation’s mission statement is ‘To improve the quality of life for Texas Panhandle residents.’ The Foundation has embraced this charge whole-heartedly by investing in this project,” said AAF Board member Puff Niegos. “We expect the North Heights Linen Service to employ and engage our neighbors who live in North and East Amarillo, while at the same time, providing a needed service for hospitals in the Texas Panhandle.”
The project is slated to be completed by the early to late fall of this year. North Heights Linen Service will be an employee-owned company, a first of its kind in the Amarillo community.
“At the Foundation, our values are collaboration, integrity, respect, and innovation. We routinely measure our grants and investments based on how well they align with these values,” said Clay Stribling, AAF President and CEO. “We generally hope that each project reflects one or two of these values. This exciting project touches every one of these values and represents a tremendous opportunity for our community.”
Impact investing is defined as a financial investment that generates a beneficial social or environmental effect and gains.
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