Rural Development Partners (RDP) of Forest City (IA) allocated $18 million in New Markets Tax Credits (NMTC) to help Delco Trailers expand operations in rural Texas, create 300 quality jobs. Funding will be used to construction a new 550,000 SF trailer manufacturing facility in Paris (TX). The new facility is expected to create 300 quality jobs, retain 115, and provide workforce development initiatives that will enhance opportunities for their employees. NMTCs will also equip the facility and provide the inventory needed to ramp-up production, boosting economic opportunities for the region and the nation through Delco’s expanded customer base.
“Helping a home-grown, family-owned manufacturing company obtain the capital needed to expand in rural Texas fits RDP’s mission perfectly. Delco makes a great product, and the market wants more. RDP loves seeing rural America share in the benefits of economic expansion.” Jonathan Klaassen, CEO of Rural Development Partners
Delco Trailers, Ltd
Delco Trailers is a family-run business that began as one man’s dream in 2006. Their growing number of product lines include bumper pulls, goosenecks and pintle hooks for livestock, flatbeds, equipment trailers, car haulers, pipe, premiums, dumps, cargo, and utility trailers. Over the past few years Delco has focused on building a stronger dealer network and employee base. The current 170,000 SF facility located in Sumner (TX) is no longer large enough to service the increasing demand for their products.
“Delco Trailers is a company that has created growth of the past several years by creating excellent products, focusing on the success of our dealer network, and providing quality jobs in the community,” said John Dyck, Delco Founder & CEO. “This partnership with RDP will help us to continue on that trajectory while having a positive and lasting impact on the community and our partners and customers across the country.”
Delco worked with Paris Economic Development Corporation (PEDC) whose mission is to plan, promote, finance, and construct opportunities for the retention, growth, and attraction of businesses that enhance the level of employment, economic-base and the quality of life in Paris and Lamar County (TX). Maureen Hammond, Executive Director of PEDC stated in a letter of support,
“Delco Trailers planned growth is a perfect example of the type of growth opportunities we are pursuing and reaffirms their commitment to our great community and great state.”
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: FaceBook, LinkedIn, or YouTube. See how RDP and NMTCs are revitalizing rural communities nationwide!