EMPORIA, VA – Rural Development Partners (RDP) invested $12 million in New Markets Tax Credits (NMTC) to help Carolina Structural Systems (CSS) construct and equip a new manufacturing facility in rural Emporia, Virginia. Expansion of operations brings 58 new jobs, economic development, and growth to Virginia’s forest products sector. NMTC investor for the project is Regions. “Rural Development Partners is …
RDP Invests in Western Smokehouse Expansion to Mexico, Missouri
MEXICO, MO – Rural Development Partners awarded New Markets Tax Credit (NMTC) allocation to Western Smokehouse Partners (WSP) as they expand operations to Mexico, Missouri. The expansion will create 377 new jobs and spur much needed economic development. Other NMTC partners include Heartland Renaissance Fund, Mid-City Community, and Capital One (Investor). “Rural Development Partners is proud to partner with Western …
RDP Allocates $20 Million in NMTC to Help PackEx Expedite Hurricane Recovery for Florida Community
Rural Development Partners allocated $20 million in New Markets Tax Credit (NMTC) financing to PackEx USA, an innovative start-up company in Marianna, Florida, inspired to address a critical gap in sustainable bottling while creating jobs and economic opportunity for a region devastated by hurricane. The financing is part of a larger NMTC package with River Gorge Capital ($12 million), HEDC …
RDP Receives $90 Million NMTC Award, Boosting Economic Development for Rural America
Forest City, Iowa – Rural Development Partners (RDP) was honored to receive $90 million in New Markets Tax Credit (NMTC) allocation authority from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund). This is RDP’s fourteenth award totaling $906.7 million. RDP has helped more than 50 businesses & nonprofits lower borrowing costs, enhance liquidity, and create jobs …
NMTCs Solidify Alstom’s U.S. Hub – Breathing New Life into Rural America Community
Rural Development Partners (RDP) celebrates NMTC Partner Alstom as they open their newest Plant 4 operations to begin production of railcar shells in rural Hornell, New York. Alstom invested over $100 million in their Hornell facilities over the last five years, solidifying its position in the U.S. as a key manufacturing hub for commuter rail systems and a major employer …
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 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 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 …
RDP Partnered with Bongards to Expand Farmer Opportunities in America’s Heartland
Rural Development Partners (RDP) was pleased to award Bongards Creameries $20 million in New Markets Tax Credit financing for equipment toward the expansion of their cheese and whey processing facility in Perham, Minnesota. The funding will allow Bongards to increase production capacity, improve efficiency & quality, and increase milk purchases while improving outcomes for regional farmers. The project is expected …
