Bongards Creameries – Perham MN

PERHAM, MINNESOTA – 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 …

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 …

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 …

Food Bank of Central & Eastern NC’s Wilmington Branch

Wilmington (NC) – Rural Development Partners allocated $12.5 million in New Markets Tax Credits to close the funding gap for Food Bank of Central and Eastern North Carolina to expand their Wilmington Branch. The investment enabled the Food Bank to complete construction without delay while directing more capital toward operations. The new facility triples the size of Wilmington’s old location, allowing …

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 …

Freestore Foodbank

Cincinnati (OH) – RDP allocated $15 million in NMTCs to fill the funding gap for Freestore Foodbank (FSFB) to expand the capacity and efficiency of their distribution center as they fight food insecurity in a 20-county tri-state region. The new 224,000 SF community resource and distribution center increases the ability to ship and store food and enabled the foodbank to …

Delco Trailers, Ltd.

Lamar County, TX – Rural Development Partners allocated $18 million in New Markets Tax Credits, Waveland Community Development $11 million, to help Delco Trailers construct a new 550,000 SF trailer manufacturing facility. The new facility is expected to create 300 quality jobs, retain 115, and provide workforce development initiatives to enhance opportunities for employees in this rural region. NMTCs also …

Coastal Growers LLC

  Atmore, AL – Rural Development Partners allocated $15 million in New Markets Tax Credits to farmer-owned Coastal Growers LLC for the construction of a new peanut shelling facility in Atmore, Alabama. This investment mitigated farmer risk, created jobs, and induced catalytic economic opportunities in a great community. The new operation created 130 quality jobs at the plant, 125 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 …