Fayetteville, TN – Rural Development Partners invested $15 million in New Markets Tax Credits to help Ariens Company revitalize an abandoned facility bringing 350 new quality jobs to the Fayetteville (TN) community along with catalytic economic and workforce development opportunities for the region. “We were excited from day one to be involved in this project with Ariens. The large number of …
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 in Kinston (NC). The shuttered plant left 159 employees without a job and little employment opportunity …
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 …
Coca-Cola Bottling UNITED
Tifton, GA – Rural Development Partners allocated $20 million in New Markets Tax Credits to family-owned business, Coca-Cola Bottling UNITED, expediting expansion of their operation to a worthy, supportive community deserving of opportunity. With NMTCs the company was able to begin operations in 2021 rather than 2023, creating 240 permanent full-time jobs, and spurring economic growth for the region. Coca-Cola …
