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NMTC Brings Hundreds of Jobs to Barnwell, SC

On Monday, Swiss Krono, a producer of engineered wood, announced plans for a $200 million expansion in Barnwell, SC where the unemployment rate is nearly 15 percent. The project was made possible thanks to the NMTC. From Woodworking Network:

More than $45 million in tax credits, allocated by the National New Markets Fund, The Innovative Fund, Dakotas America, and SunTrust Community Capital, will go toward funding a 250,000-square-foot, $200 million expansion of Swiss Krono’s plant in Barnwell, South Carolina.

The expansion is expected to create 500 construction jobs and 105 permanent jobs at the plant.

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“Swiss Krono is grateful to receive the benefit of new markets tax credits, allowing us to grow the commitment we made to this area over a decade ago,” said Erik Christensen, president and CEO of the company’s U.S. subsidiary. “This investment will set us up to continue that support for decades to come.”

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