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 18, supporting many indirect jobs, and anchoring the region for further catalytic economic development. Total NMTC investment allocated by Rural Development Partners and Dudley Ventures totaled $14 million, and provides for great opportunity in this rural community experiencing higher than average unemployment.
“RDP was proud to partner with Momeni to help bring high-quality jobs to rural Georgia. We look forward to our continued partnership with Momeni as they grow at their new location in Gordon County.” – Dan Helgeson, Rural Development Partner’s CEO
The facility’s warehouse features 32-foot ceilings for increased capacity to store more product, and 30 loading docks to boost efficiency for shipping and receiving. New logistic technology was installed to enhance operations for a better/accelerated customer experience, and a showroom added to display the company’s growing broadloom division.
Momeni and Sons, Inc.
Momeni started as a dream by a father and his sons to bring fine Persian rugs into every home. Their cornerstone, “A Tradition of Quality” is a guiding principle that runs through each and every product they offer. While Momeni has grown, their family values haven’t changed. Since the beginning they have focused on delivering meaningful design, high-quality construction, innovative techniques, and trends that set a higher standard.
“With 50 years of experience in the business, combined with a new generation, we feel ready to tackle any challenge and are excited to explore all the new possibilities of this beautiful industry. Investing in our team and their creativity is truly what allows us to be so successful.” – Reza Momeni, President of Momeni, Inc.
Community Investment
Regional economic development authorities have given this project great support, as both Bartow and Gordon counties work together to attract new employers to the region. Rural Development Partners and Momeni will provide a $70,000 matching funds grant through RDP’s Community Investment Program. Funding will support workforce development initiatives to help employees reach their full potential, and establish a well-trained workforce in this underserved region.
