Rural Development Partners of Forest City (IA) allocated $10 million in New Markets Tax Credits (NMTC) to help Alstom expand their specialized manufacturing equipment line to rural America and continue investing in Hornell (NY) as a key long-term U.S. railcar manufacturing hub. This project will create 258 quality jobs, retain 390, and generate 50 construction jobs in a rural community ready for growth.
Alstom’s new build will encompass a 135,000 SF facility featuring 105,000 SF of manufacturing space, 18,000 SF of warehouse space, and 12,000 SF of office space. The company will invest $9MM toward an in-house training program, providing great opportunities for employees to develop workforce skills. The new facility will focus on manufacturing stainless steel car bodies for commuter rail trains, particularly specializing in large bi-level train cars, a brand-new capability for Hornell; this type of production is currently done overseas.
“RDP is so pleased the NMTC was available to help cement Alstom’s long-term presence in Hornell. The community of Hornell will now enjoy growing together with Alstom; as opposed to facing the daunting task of replacing lost jobs, a challenge faced by so many rural communities. The opportunity to avoid loss and celebrate gain makes this NMTC success story doubly sweet.”. – Jonathan Klaassen, CEO Rural Development Partners
Leading societies to a low carbon future, Alstom develops and markets mobility solutions that provide the sustainable foundations for the future of transportation. Alstom’s product portfolio ranges from high-speed trains, metros, monorails and trams, to integrated systems, customized services, infrastructure, signaling, and digital mobility solutions. Alstom has more than 170 years of experience in the U.S. and Canadian rail transportation markets. Alstom employs more than 8,000 people across 70 sites in the U.S. and Canada, and boasts the largest passenger rolling stock manufacturing facility, located in Hornell, New York. www.alstom.com
The Alstom project aligns great with RDP’s vision and business strategy of creating quality job access for low-income residents in Rural America. Planned workforce development initiatives will build workforce capacity and make jobs more accessible to the low-income community. The expansion also has the potential to drive additional catalytic value to rural areas through expanded relationships with nearly 300 supply chain businesses, inducing further private investment, and growing their exceptional community involvement and outreach.
“With a state-of-the-art American industrial footprint, including the ability to build stainless steel car body shells in Hornell, Alstom will be well-positioned to meet our customers’ needs and continue to bring skilled jobs to the Hornell community,” says Michael MacDonald, Hornell Managing Director. “This would not be possible without the support of organizations like Rural Development Partners.”
Rural Development Partners
Rural Development Partners utilizes the NMTC Program to help organizations throughout the nation relocate and expand their operations in distressed rural communities. RDP investments help create jobs, economic growth, training opportunities, and food security for Rural America by partnering with organizations that take action to invest in and support their local communities. From 2004 through 2021, RDP has won ten NMTC awards from the U.S. Treasury totaling $656.7 million. To learn more about RDP or the NMTC program, visit our website or social media platforms at FaceBook, LinkedIn, or YouTube. See how RDP and NMTCs are revitalizing rural communities nationwide!