Rural Development Partners (RDP) awarded $17.5 million in New Markets Tax Credit (NMTC) financing to MagPro, LLC, a Nonferrous Metal Production and Processing corporation located in Camden, Tennessee. Funding will enable the purchase of parts necessary to construct 5-7 vacuum furnaces, driving expansion and growth for the company while creating an additional 150 quality jobs in rural Benton County. RDP …
NMTCs Help Potters Revive Production & Jobs in Wilson (NC)
Rural Development Partners (RDP) awarded $19.5 million in New Markets Tax Credit (NMTC) financing to Potters Industries, LLC, a manufacturer of glass beads specializing in retroreflective highway safety products. The rural community of Wilson (NC) was devastated by the closure of a local manufacturing plant in 2023, losing many jobs and economic opportunities. NMTC financing will help expedite the site …
NMTCs Help Central Texas Food Bank Expand Waco Facility
Rural Development Partners awarded $18 million in New Markets Tax Credit financing to Central Texas Food Bank (CTFB) for the expansion of a 65,000 square foot facility strategically located in Waco, Texas. The new facility will serve nine of CTFB’s most food insecure counties, five of which are rural. The investment will create/retain 171 FTE jobs (28 new) and 59 …
NMTCs Help Tate Boost Infrastructure Manufacturing in Southwest Virginia
Rural Development Partners awarded $10 million in New Markets Tax Credit financing to Tate Access Floors, Inc. for the renovation of a vacated facility in rural St. Paul, Virginia. The facility had been vacant for 15 years, now a state-of-the-art manufacturing hub and cornerstone for future growth and prosperity in Russell County. The facility will bring over 170 quality FTE …
RDP Welcomes John Reiher to the Governing Board
Rural Development Partners is honored to welcome Director John W. Reiher to the Governing Board. Mr. Reiher will bring valued perspective to Rural Development Partners through his dynamic leadership experience and ability to develop effective strategies that grow business and sustain profitability. Reiher most recently led Strategy & Business Development at Deere & Co, a Fortune 80 global manufacturer in …
$70,000 Grant Provides Workforce Training in Northwest Georgia
Rural Development Partners (RDP) and NMTC Partner Momeni & Sons awarded a $70,000 matching funds grant to boost workforce development initiatives in Bartow and Gordon counties in Georgia. Regional economic development authorities have given great support as the counties work together to help employees reach their full potential and to spur economic development through a well-trained workforce that they hope …
RDP Partners with ERMCO to Improve America’s Infrastructure
Rural Development Partners (RDP) is pleased to award $15 million in New Markets Tax Credit (NMTC) financing to Electric Research Manufacturing Cooperative, Inc. (ERMCO) for the expansion and equipping of their Dyersburg, Tennessee facilities. This allocation is part of a $54.1 million NMTC package from RDP, MuniStrategies/$13MM, Cadence/$10MM, Pathway/$9MM, and GrowAmerica/$7.1MM. The strategic investment is expected to create an estimated …
NMTCs Help Provide Opportunities for Underprivileged Children
Rural Development Partners (RDP) provided $8 million in New Markets Tax Credits in 2018 for the historic renovation of Sherwood Forest Camp’s outdated facilities built in the 1960s. Renovations enabled the camp to create greater opportunities for low-income children in St. Louis City/County by enhancing their amenities and capacity through the construction of a 9,000 square-foot dining hall, 4,200 square-foot …
NMTCs Instrumental in Helping Food Banks Expand to Strengthen Communities
New Markets Tax Credits have been instrumental in the expansion of Food Bank facilities throughout the nation; a valued resource allowing more capital to be directed toward essential operations and community outreach. Food Banks have aspired to ignite change as they overcome food insecurity through amenities conducive to implementing healthy food programs, workforce development and community partnerships. These initiatives have …
RDP Receives $65 Million in NMTC Authority to Help Revitalize Rural America
Forest City, Iowa – Rural Development Partners (RDP) was awarded $65 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. This is RDP’s thirteenth NMTC award since the company’s inception in 2004 totaling $816.7 million. RDP has financed 50 projects to date, spurring economic growth, food access, and quality accessible jobs in underserved rural communities nationwide. “We …
