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CDFI Awards Rural Development Partners $50 Million in NMTC Authority
Posted on September 22, 2023Forest City, Iowa – Rural Development Partners (RDP) was awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. This is RDP’s twelfth NMTC award since the company’s inception in 2004, totaling $751.7 million. RDP has financed 47 projects to date, spurring economic growth, providing food access, and creating quality jobs accessible to low-income workers ...
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Rural Development Partners Featured on America’s Heartland Public Television Broadcast
Posted on April 26, 2023Forest City, Iowa – Rural Development Partners (RDP) was honored to partner with America’s Heartland to educate America about the federally funded New Markets Tax Credit (NMTC) program. The episode aired on RFD-TV today (April 26th), featuring four NMTC partners who share how they learned about the program, how the investment works, and join their communities in giving testimony to ...
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Rural Development Partners NMTC Investment in AriensCo Brings Jobs to Tennessee
Posted on April 20, 2023Forest City, Iowa – Rural Development Partners invested $15 million in New Markets Tax Credits (NMTC) to help Ariens Company revitalize an abandoned facility, bringing 350 new quality jobs to the Fayetteville, Tennessee community along with catalytic economic and workforce development opportunities for the region. Other NMTC partners include Legacy Economic Growth Fund ($12MM), Waveland Community Development ($10MM), MuniStrategies ($13.5MM), ...
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Rural Development Partners Helps Crown Equipment Bring Jobs to America
Posted on March 15, 2023Forest City, IA – Rural Development Partners allocated $17.5 million, and Five Points Community Capital $7.5 million in New Markets Tax Credits 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 ...
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Rural Development Partners Helps Wilmington Food Bank Expand
Posted on March 9, 2023Forest City, IA – 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 ...
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Rural Development Partners Awarded $45 Million in New Markets Tax Credits
Posted on November 1, 2022Rural Development Partners (RDP) was awarded $45 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. This is RDP’s eleventh NMTC award since the company’s inception in 2004, totaling $701.7 million. RDP has financed 44 projects to date, spurring economic growth, providing food access, and creating quality jobs accessible to low-income workers in underserved communities ...
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NMTC Partnership to Anchor Economic Boost in Northwest Georgia
Posted on April 5, 2022Rural Development Partners (RDP) allocated $7 million in New Markets Tax Credits (NMTC) to Momeni and Sons to construct, equip, and operate a new distribution center in Adairsville, Georgia. The new 300,000 SF facility will serve as a centralized import and distribution hub for Momeni’s expanding customer base in the Southeast, creating 98 quality jobs, many indirect jobs, and anchoring ...
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NMTC Partnership Brings Jobs to America
Posted on January 12, 2022Rural Development Partners of Forest City (IA) allocated $10 million in New Markets Tax Credits (NMTC) 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. This project will create 258 quality jobs, retain 390, and generate 50 construction jobs in a rural ...
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NMTC Expansion of Freestore Foodbank
Posted on January 7, 2022Rural Development Partners of Forest City (IA) allocated $15 million in New Markets Tax Credits (NMTC) to Freestore Food Bank (FSFB) of Cincinnati (OH). The funding will help expand the capacity and efficiency of the distribution center to fight food insecurity in a twenty-county tri-state region. FSFB is the largest emergency food and service provider in Greater Cincinnati, Northern Kentucky, ...
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NMTC Partnership Creates Jobs in Texas
Posted on December 16, 2021Rural Development Partners (RDP) of Forest City (IA) allocated $18 million in New Markets Tax Credits (NMTC) to help Delco Trailers expand operations in rural Texas, create 300 quality jobs. Funding will be used to construction a new 550,000 SF trailer manufacturing facility in Paris (TX). The new facility is expected to create 300 quality jobs, retain 115, and provide ...
Read More$90,000 Workforce Development Grant Awarded to Arkansas Northeastern College
Posted on November 9, 2021Rural Development Partners (Forest City, IA) awarded a $90,000 workforce development grant to Arkansas Northeastern College (Blytheville, AR) to support industrial education in the region while setting the stage for economic growth and development. Community Investment Program Rural Development Partner’s (RDP), through their Community Investment Program, worked with Arkansas Northeastern College (ANC), identifying the need for heavy equipment operators to ...
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$140,000 IMT Educational Grant Awarded to Corsicana High School, Navarro College & Foundation
Posted on September 21, 2021Rural Development Partners (Forest City, IA) and NMTC partner Audubon Metals (Corsicana, TX) awarded a matching funds grant of $140,000 to strengthen workforce development in the Corsicana region. Workforce development is one of the primary challenges companies and communities face today. As manufacturing processes continue to evolve through advances in technology, the importance of a trained and skilled workforce is ...
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Rural Development Partners Receives $50 Million NMTC Award
Posted on September 2, 2021Rural Development Partners (RDP) was awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. This is RDP’s tenth NMTC allocation award since the company’s inception in 2004, totaling $656.7 million. RDP directs NMTCs to spur economic growth, provide food access, and create quality jobs accessible to low-income workers in underserved communities throughout America. ...
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$150,000 Grant Awarded to Barnwell County (SC)
Posted on August 19, 2021Rural Development Partners (Forest City, IA) and NMTC partner Cascades f/k/a Orchids Paper (Barnwell, SC) awarded a matching funds grant of $150K toward workforce development and community initiatives in Barnwell County, a region dominated by manufacturing, agriculture, and service industries. SouthernCarolina Alliance Barnwell is one of seven counties represented by the SouthernCarolina Alliance, a regional nonprofit organization providing economic development, marketing, and recruitment in the ...
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$175,000 Grant will Revitalize High School Vo-Tech Programs in Gibson County, TN
Posted on August 13, 2021Rural Development Partners (Forest City, IA) and NMTC partner, Bongards (Humboldt, TN) awarded Gibson County high schools a matching funds grant of $175,000 to strengthen workforce development. Funds are revitalizing high school technical programs across Gibson County, boosting student opportunities for successful careers. Since initiating the grant in December of 2020, Vo-tech programs are coming to fruition, energized to create ...
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Rural Development Partners Welcomes Bill Northey to the Governing Board
Posted on July 7, 2021Forest City, IA – July 7, 2021: Rural Development Partners (RDP) is pleased to welcome Bill Northey to the Governing Board. Bill and his wife, Cindy, reside in the Des Moines area where he serves as Principal at WHNorthey LLC, providing agriculture consulting in conservation and sustainability. From 2018-2021, Bill served as Under Secretary for Farm Production and Conservation (FPAC) ...
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SRTC Receives $200,000 Grant for Technical & Industrial Education
Posted on May 10, 2021Tifton, GA – Coca-Cola Bottling Company United, Inc. (UNITED) and Rural Development Partners (RDP) jointly funded a $200,000 investment in Technical and Industrial Education in South Georgia through RDP’s Community Investment Program. The collaborative grant was awarded to the Southern Regional Technical College (SRTC) Foundation, which will utilize the funds to support SRTC’s Technical and Industrial programs and students in the ...
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Public-Private Partnership Grant Awarded to Pride of Atmore
Posted on April 14, 2021Atmore, AL Rural Development Partners (RDP), together with Coastal Growers LLC, is pleased to announce a $150,000 jointly funded grant to Pride of Atmore through RDP’s Community Investment Program. This $3.3 million project involves restoration of the historic Strand Theatre, an iconic landmark established in 1921, serving as an anchor for the community for nearly a century. A music studio ...
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Quality Jobs and Economic Opportunities for Farmers & Atmore, AL
Posted on January 26, 2021Atmore, AL – Rural Development Partners (RDP) is honored to partner with Coastal Growers LLC to provide New Markets Tax Credits (NMTCs) for a new peanut shelling facility in rural Alabama. The new operation will create 130 quality jobs at the plant, 125 new farmer-supported jobs, 95 constructions jobs, and economic opportunities to stabilize the region. The project will allow ...
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RDP Partners with Audubon Metals to Bring Quality Jobs to Corsicana, TX
Posted on January 5, 2021Corsicana, TX – Rural Development Partners (RDP) is proud to partner with Audubon Metals Texas LLC to help expand the company and bring quality jobs to Corsicana, TX using New Market Tax Credits (NMTCs). Audubon Metals is a manufacturing facility that recycles Zorba (automobile residue) for production of secondary aluminum alloys for die castings. The new 157,970 SF facility will ...
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RDP Allocates $20MM in NMTCs to Bring Quality Jobs to Tifton, GA
Posted on December 28, 2020Tifton, GA – Rural Development Partners (RDP) partnered with Coca-Cola Bottling Company United, Inc. to equip a new state of the art facility and bring quality jobs to Tifton, GA. Coca-Cola UNITED is engaged in the production, marketing and distribution of a diverse portfolio of leading sparkling (Coca-Cola®, Diet Coke®, Coke Zero Sugar®, Dr Pepper®, Sprite®, Fanta® and AHA®) and ...
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Rural Development Partners Welcomes Debra Shoaf to Advisory Board
Posted on November 9, 2020(Forest City, IA) November 9, 2020: Rural Development Partners is pleased to welcome Debra Shoaf to its New Markets Tax Credit (NMTC) Advisory Board. Debra oversees the finance, risk management, and real estate functions for Atlanta Community Food Bank. The Food Bank is a $160MM+/year organization that is on target to procure and distribute over 100 million pounds of food ...
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New Market Tax Credit Instrumental in Expansion of Pennsylvania Food Bank
Posted on November 9, 2020Forest City, IA Rural Development Partners (RDP) is pleased to announce their partnership with Greater Pittsburgh Community Food Bank (GPCFB) to expand healthy food distribution in the 11-county area they serve. RDP will allocate $16 million of New Market Tax Credits (NMTC) to renovate and expand the Duquesne, Pennsylvania Food Bank; serving as headquarters to more than 400 partner agencies ...
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Public-Private Partnership Grants $100,000 For Workforce Training Lab
Posted on September 29, 2020Forest City, IA Rural Development Partners (RDP), together with Tishomingo County based manufacturer Mississippi Silicon, provided Northeast Mississippi Community College with $100,000 to revitalize its workforce training lab. See press release. RDP allocated $20MM in New Markets Tax Credit (NMTC) financing in 2014 to help MS Silicon build and operate a silicon metal production facility. See the great impacts this ...
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Rural Development Partners receives $65 Million NMTC Award
Posted on July 17, 2020(Forest City, IA) July 15, 2020: Rural Development Partners (RDP) is proud to announce receiving $65 million in New Market Tax Credit (NMTC) authority from the U.S. Treasury’s CDFI Fund. The NMTC program allows RDP to provide flexible financing options that support the health and sustainability of highly distressed rural communities throughout America. This is RDP’s ninth NMTC award for ...
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Rural Development Partners Welcomes Linda Upmeyer to Governing Board
Posted on July 17, 2020(Forest City, IA) July 17, 2020: Rural Development Partners (RDP) is pleased to announce that Linda Upmeyer has joined the RDP Governing Board. Linda is completing her ninth, and final, term in the Iowa Legislature where she most recently served as Speaker of the House from 2016-2020. Prior to becoming Speaker, Linda led the caucus as House Majority Leader from ...
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Novogradac Journal of Tax Credits: NMTC CDEs, Investors, Developers Role in the Economic Recovery After the Pandemic
Posted on July 6, 2020Rural Development Partner’s CEO, Jonathan Klaassen, was recently interviewed by Novogradac for the June 2020 Journal of Tax Credits on the subject of NMTC CDEs integral role in stabilizing and rebuilding the American economy during and after the COVID-19 global pandemic. “From a rural perspective, I’ve been inspired by the response of food banks,” said Klaassen. “The pandemic is highlighting ...
