NMTC Partnership to Anchor Economic Boost in Northwest Georgia

Rural Development Partners (RDP) allocated $7 million in New Markets Tax Credits (NMTC) to Momeni and Sons to construct, equip, and operate a new distribution center in Adairsville, Georgia. The new 300,000 SF facility will serve as a centralized import and distribution hub for Momeni’s expanding customer base in the Southeast, creating 98 quality jobs, many indirect jobs, and anchoring the region for additional catalytic economic development opportunities. Dudley Ventures allocated $7 million, for a total NMTC award of $14 million to help spur economic development in this worthy rural region.

“Momeni’s investment means quality jobs and economic advancement for Adairsville and the surrounding area. That is great news for rural northwest Georgia.” – Jonathan Klaassen, RDP’s CEO

Momeni and Sons, Inc.

Momeni started as a dream by a father and his sons to bring fine Persian rugs into every home. Their cornerstone, “A Tradition of Quality” is a guiding principle that runs through each and every product they offer. While Momeni has grown, their family values haven’t changed. Since the beginning they have focused on delivering meaningful design, high-quality construction, innovative techniques and trends that set a higher standard.

“With 50 years of experience in the business, combined with a new generation, we feel ready to tackle any challenge and are excited to explore all the new possibilities of this beautiful industry. Investing in our team and their creativity is truly what allows us to be so successful.” – Reza Momeni, President of Momeni, Inc.   

Community Support

Regional economic development authorities have given this project great support, as both Bartow and Gordon counties work together to attract new employers to the region. RDP and Momeni’s commitment to workforce development will be an added benefit, helping employees reach their full potential while establishing a well-trained workforce in the region.

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: FaceBookLinkedIn, or YouTube. See how RDP and NMTCs are revitalizing rural communities nationwide!