Side note:
Rock music plays.
On screen:
Workers wearing protective gear, melt iron in a blazing cupola furnace. The fire audibly crackles as they work.
Text on screen:
Lodge Cast Iron.
On screen:
A man with dark hair and light eyes, Mike Otterman.
Text on screen:
Mike Otterman, CEO and President, Lodge Cast Iron.
Mike Otterman:
Lodge is pretty unique. We're a 127-year-old company that's based in a town of about 3,500.
On screen:
A montage shows aerial views of a small city nestled in a rolling mountainous landscape, a large yellow building with a sign reading " Lodge Factory Store," and The Lodge Museum of Cast Iron's exhibit about company's founder Joseph Lodge (with a life-sized wax statue of him). Then, a bearded man with short brown hair, Peter Laskowski.
Text on screen:
Peter Laskowski, VP of Finance, Lodge Cast Iron.
Peter Laskowski:
Going all the way back to the founder Joseph Lodge, through his ownership of the company that's now passed to fourth, fifth, and sixth generations of his descendants, they're very committed to always staying here in the town of South Pittsburg.
On screen:
The Lodge Museum displays an antique bucket-shaped container to pour molten metals, an assortment of cast iron pots and pans, and a sign reading: "Lodge - Cast Iron Since 1896. South Pittsburg, Tennessee." Now, a man with gray hair and glasses, Henry Lodge.
Text on screen:
Henry Lodge, Chairman and Former CEO, Lodge Cast Iron.
Henry Lodge:
It’s also a gorgeous place: mountains, the rivers. People are friendly. People want people to succeed. We want to help people succeed and it's just a great community.
On screen:
A man walks into the Lodge 3rd Street Foundry and Employment Center. People shop for Lodge Cast Iron products inside the factory store. Large cast iron sculptures of smiling robots, using cookware, stand outside the Lodge Factory Store. Inside the Lodge foundry, a worker shovels white-hot semi-molten iron into a large metal vessel. Then, a woman with black hair and brown eyes, Stefanie Mansueto.
Text on screen:
Stefanie Mansueto, Market Executive, JPMorgan Chase.
Stefanie Mansueto:
During 2020, a lot of companies saw a spike in demand due to changes in consumer behavior as a result of COVID and Lodge was no exception to that. They needed and wanted to look for an additional partner who could come in and grow with them and give them access to capital and additional partnerships that they were looking for.
On screen:
Ms. Mansueto tours the Lodge Foundry, looking at a giant disc-shaped magnet, lifting scrap metal, a flaming industrial furnace, and molten metal being poured. Then, Mr. Laskowski speaks as a montage shows foundry warehouse workers inspecting newly-cast skillets and pans hanging from an aerial conveyor belt and packing the cookware in boxes to be placed on a large pallet.
Peter Laskowski:
Our challenge was very much how do we continue to expand our manufacturing footprint? And at the same time, we had some other plans on the horizon to really create an anchor here in the town of South Pittsburg.
On screen:
A bearded man with dark hair and glasses, James Simmons.
Text on screen:
James Simmons, New Markets Tax Credit Executive, JPMorgan Chase.
James Simmons:
We ended up partnering with community development entities to bring gap filling financing to help complete their project.
Side note:
Acoustic guitar music plays.
On screen:
A montage of South Pittsburg shows an aerial view of the city and surrounding neighborhood, the small local Princess Theater, the city's seal on an outdoor flag, and Ms. Mansueto and Mr. Simmons walking with a representative from Lodge.
James Simmons:
The New Markets Tax Credit Program is a federal program that's designed to help encourage investment, particularly in low-income or disinvested communities. The partnership with Lodge really allowed us to support their continued investment in South Pittsburgh more generally, and specifically in their new foundry project.
On screen:
Ms. Mansueto tours the Lodge Museum of Cast Iron, which displays antique blueprints, a model of the original foundry, and the world’s largest cast iron skillet, at 18 feet, weighing over 14,000 pounds.
Mike Otterman:
As we've grown up, we've needed folks to help lead the way for us. And we took a very small-town approach to everything that we did. The connection that we had with J.P. Morgan was different.
On screen:
Mr. Otterman speaks and laughs with Ms. Mansueto and Mr. Simmons at the Lodge Museum.
Mike Otterman:
It's great to see a company of that size, with their resources and the employee base, that can still have a local and authentic approach to community and to a family-run business like ours.
On screen:
Ms. Mansueto and Mr. Laskowski stand in front of a wall-sized display of cast iron cookware. Men and women work in the spacious Lodge Cast Iron warehouse.
Peter Laskowski:
Lodge was just over about 300 employees making up the company. And you fast forward to today we're over 500 and if you fast forward as we continue to work through these investments, you know, we do anticipate in the next few years being over 700 employees.
On screen:
A montage shows foundry workers operating large industrial machines, wearing heat and flame resistant protective clothing as they work near the furnace, and inspecting recently-cast skillets.
Stefanie Mansueto:
Anytime a company is looking to use capital to benefit not only their customers and increase production from a demand perspective, but to better the lives of their employees and add additional jobs. We want to help in any way that we possibly can.
On screen:
In the warehouse, workers transport boxes of cast iron skillets using a pallet stacker truck. On the outskirts of South Pittsburg a huge yellow sign reads: "Welcome to Cast Iron's Hometown."
Mike Otterman:
From a town perspective, there is such tremendous pride in where Lodge has come from and where it sits today. And so I think we've done it the way that the family wanted to do it, that the community is proud of and we'll continue to prioritize that as we go forward.
On screen:
A montage shows scenes from South Pittsburg, including the clock tower in the town center, the Lodge Foundry and Employment Center, and folks gathering for the annual National Cornbread Festival
Peter Laskowski:
It's about how we take care of the community and how we can continue to help the community thrive.
On screen:
At the Lodge-sponsored National Cornbread festival, a prize-winner holds a large cardboard check of 1,500 dollars from Lodge Cast Iron.
Henry Lodge:
What's good for South Pittsburgh is good for Lodge.
On screen:
A montage shows smiling Lodge employees. Film clips show local restaurant owners cooking meals using Lodge Cast Iron pans.
Mike Otterman:
They're big fans of what we do here at Lodge, we're big fans of this community. I think it makes South Pittsburgh a stronger economic community and a better place to live and invest in.
On screen:
A wall-sized outdoor mural reads: "Welcome to South Pittsburg Tennessee - Home of the National Cornbread Festival."
Logos:
The J.P. Morgan logo and the Chase logo with the blue octagon symbol.
Side note:
Legal disclosures appear.
Text on screen:
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