Rural Development Partners invested $18 Million in NMTC financing to construct a new terminal facility in Osceola, AR. WATCO f/k/a Mid River Terminal (MRT) is a material handling company that specializes in unloading, processing and inventory management of scrap metal delivered to the company by barge. Being strategically located on the Mississippi River allows for direct barge access, which provides for an extended reach for raw material purchases.
The New Market Tax Credits allowed WATCO f/k/a Mid River Terminal to boost loading and unloading infrastructure on the Mississippi River, the adjacent railway and via traditional roads, benefiting all industries in the area and creating 116 new positions. WATCO (MRT) has the ability to load or offload barges on the Mississippi River, offload inbound rail cars or offload rock and limestone delivered by truck.
The project is located in severely distressed Osceola, AR, which has an unemployment rate 1.25x higher than the national rate and 1.57x higher than the Arkansas state average.