Corsicana, TX – Rural Development Partners (RDP) is proud to partner with Audubon Metals Texas LLC to help expand the company and bring quality jobs to Corsicana, TX using New Market Tax Credits (NMTCs).
Audubon Metals is a manufacturing facility that recycles Zorba (automobile residue) for production of secondary aluminum alloys for die castings. The new 157,970 SF facility will also recycle Zorba for production of secondary aluminum alloys, while bringing 181 high quality jobs, and 86 construction jobs to the region. Of the newly created jobs, 79% will be accessible to low-income persons with a high school degree or equivalent, and every job will have strong wages and include a full suite of benefits.
NMTC financing has helped mitigate the Company’s financial risk amid economic uncertainty, which has been exacerbated by the COVID pandemic. Audubon Metals utilized $14MM of NMTC allocation from Rural Development Partners to help finance real estate, construction, and equipment. Thanks to NMTCs, the Company will complete construction and commence operations by the summer of 2021.
Audubon Metals has received vast community support in anticipation of the expected economic boost to Corsicana and the surrounding area. The Company will serve as the industrial park’s anchor tenant, spurring additional private investment in the community.
“Audubon Metals LLC is pleased to be in partnership with the City of Corsicana, Texas. We look forward to contributing to growth in the City and in Navarro County. Audubon Metals is excited to put our core values to work for the good of our employees and our community. We appreciate the Community Investment Programs made available by Rural Development Partners that will make this greenfield expansion possible.” Brian Hawkes, Audubon Metals President.
Audubon Metals has earned a reputation of strong community engagement by providing widespread support to organizations and educational institutions alike. Audubon Metals is enthusiastic about continuing this trend in the Corsicana community. RDP’s Community Investment Program (CIP), jointly funded by Audubon Metals, will target local workforce development initiatives identified by Corsicana community leaders.
“Rural Development Partners is excited to help Audubon Metals bring quality jobs and workforce training opportunities to Corsicana, TX. This is great news for the local workforce and the community as a whole. Furthermore, we see Audubon’s expansion directly spurring additional private investment in the industrial park.” – Jonathan Klaassen, RDP CEO
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 2020, RDP has won nine NMTC awards from the U.S. Treasury totaling $606.7 million.
ABOUT AUDUBON METALS
Audubon Metals LLC has operated a facility in Henderson, KY for more than two decades, recycling metals for end-use consumers. The metals are separated and then the aluminum portion is melted to create specification secondary aluminum alloys. Audubon is a subsidiary of Koch Enterprises, a 150-year-old company with six companies in its portfolio.