Ranger Ready Qualifies for Connecticut Innovations’ Angel Investor Tax Credit Program
Ranger Ready Repellents and its parent company, the Pic20 Group, LLC, has qualified for Connecticut Innovations' (CI) Angel Investor Tax Credit program. CI is the state’s strategic venture capital arm and the leading source of financing and ongoing support for growing companies in the state.
The Angel Investor Tax Credit allows accredited investors who invest at least $25,000 in a qualified company to earn a Connecticut state income tax credit equaling 25 percent of their investment in the company. The investment maximum per individual is $2 million and the tax credit may be carried forward for five years.
“Programs like the Angel Investor Tax Credit are a win-win for investors who want to support innovation in Connecticut,” said Chris L. Fuentes, founder and CEO of Ranger Ready Repellents, and a longtime Connecticut resident. “In just two short seasons, tens-of-thousands of consumers and over 1,000 retailers have purchased Ranger Ready. We invite investors to take advantage of this unique tax credit and help fund the continuing growth of Ranger Ready as it becomes a leading repellent in the U.S.”
Ranger Ready is designed, manufactured, and distributed locally, and the company anticipates opening a second warehouse and bottling contractor in Connecticut in Q1 2020. More than 75 percent of the company’s employees live throughout Connecticut, and they anticipate adding new employees as the company rapidly expands.
“The Connecticut Angel Investor Tax Credit program has helped to build the investor base and allows companies, like Ranger Ready Repellents, to secure the capital it needs to grow and scale in the state,” said Stepheni Harpin, investment analyst at Connecticut Innovations and program administrator for the Connecticut Angel Investor Tax Credit Program.
Ranger Ready is registered with the Environmental Protection Agency (EPA), and uses the active ingredient Picaridin 20%, a repellent growing in popularity throughout the U.S. The Centers for Disease Control and Prevention (CDC) has reported it to be equally as effective as DEET, but without the same health concerns and corrosive qualities. Picaridin is safe for children over age-1 and women who are pregnant, and is recommended by the CDC and the World Health Organization (WHO).