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 …
Crown Equipment Corporation
Kinston, NC – Rural Development Partners allocated $17.5 million, and Five Points Community Capital $7.5 million in New Markets Tax Credit allocation to help Crown Equipment finance the timely acquisition, modernization, and equipping of a vacated 255,295 SF building adjacent to its current facility. The shuttered plant left 159 employees without a job and little employment opportunity in rural Lenoir …
Momeni & Sons, Inc.
Adairsville, GA – Rural Development Partners allocated $7MM in New Markets Tax Credits to help Momeni, an importer of high quality Persian rugs construct, equip, and operate a new 300,000 SF distribution center in rural Adairsville (GA). The facility serves as the centralized import and distribution hub for their expanded customer base in the Southeast, creating 80 new jobs, retaining …
Alstom
Hornell (NY) – Rural Development Partners allocated $10MM in NMTCs to help Alstom expand their specialized manufacturing equipment line to rural America, and continue investing in Hornell (NY) as a key long-term U.S. railcar manufacturing hub. The project expected to create 258 quality jobs, retain 390, and generate 50 construction jobs in a rural community ready for growth. Alstom’s new …
Audubon Metals Texas LLC
Corsicana, TX – RDP allocated $14MM in New Markets Tax Credits to help Audubon Metals Texas LLC expand operations to Corsicana, TX, creating quality jobs in a rural qualified region while mitigating financial risk amid economic uncertainty that was exacerbated by the COVID pandemic. This NMTC allocation was used to help finance real estate, construction, and equipment for the new …
Mississippi Silicon
Burnsville, Mississippi began a railroad town in the 1830s bringing industry and settlement to the region with rail, highway, and waterway access. During the 1990’s, Tishomingo County lost approximately 2,500 manufacturing jobs. As the economy began to once again climb in the 2000’s with an increase in manufacturing, the Great Recession hit causing a rapid increase in unemployment. By 2013, …
