Camden, Tennessee – 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 …
ERMCO
Dyersburg, TN – Rural Development Partners (RDP) awarded $15 million in NMTC financing to Electric Research Manufacturing Cooperative, Inc. (ERMCO) for the expansion and equipping of their Dyersburg (TN) facilities. This allocation is part of a $54.1 million NMTC package involving MuniStrategies/$13MM, Cadence/$10MM, Pathway/$9MM, and GrowAmerica/$7.1MM. The strategic investment is expected to create an estimated 400 quality jobs at ERMCO, …
Ariens Company
Fayetteville, TN – Rural Development Partners invested $15 million in NMTCs to help AriensCo revitalize an abandoned facility. The expansion means 350 new quality jobs for the region, and catalytic economic and workforce development impacts. “We were excited from day one to be involved in this project with Ariens. The large number of jobs created will provide opportunities for many at …
Bongards Creameries – Humboldt TN
Humboldt, Tennessee may be best known for 80 years of hosting the annual West Tennessee Strawberry Festival. Like many towns in rural America, Humboldt’s greatest resource is its people, which is why a 13% population decline since the 2000 census hurt so much (9467 residents in 2000 to 8235 in 2016). The Great Recession saw the loss of factories and …
DOT Foods
Dyersburg, TN – Dot Foods, the nation’s largest food distributor, revitalized a rural community that lost more than 3,000 manufacturing jobs between 2010-2013. The company partnered with RDP for $11.4MM in NMTC allocation to construct a new 167,000 square foot warehouse facility and garage for their trucking fleet. The new facility serves as a logistics hub for the southern U.S. …
