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Humboldt, TN (2017)

Bongards Creameries

Financing to purchase and transform a plant in Humboldt into a natural processed cheese operation to support the growing demand for its products.

Investment

  • NMTC Amount: $30,500,000
  • Total Project Cost: $30,500,000

IMPACT

  • 162 FTE jobs
  • 71 construction jobs
  • New vital revenue for 400+ struggling MN family dairy farms

Investor

Project Description

The Great Recession saw loss of factories and jobs in and around Humboldt, with more than a fifth of the residents living below the poverty line. In 2010, Bongards purchased a plant in Humboldt, transforming it into a natural processed cheese operation to support the growing demand for its products. In 2017, Bongards obtained NMTCs to expand the existing plant by 55,000 sq. ft. of plant and cooler space and added state-of-the-art equipment for cheese slicing and packaging. The newly updated facility is serving as a major distribution hub reaching consumer and commercial customers across the southeast United States. The expansion brought stability to a community that experienced a 20% population loss between 2000 and 2016. 90% of the jobs generated are accessible to individuals without a college degree and pay an average wage of 69% above the local living wage.

MAP

Address: 3001 US-45 BYP, Humboldt, TN 38343

Census Tract: 47113967000

Voices from the Community

The ability to use NMTC allowed one of our industries, Bongards Creameries, to expand with a $35,000,000 capital investment and the creation of 95 new jobs. With the expansion, the company gave the community a $175,000 workforce development grant.

There have been other companies in West TN which have also taken advantage of the NMTC program in order to expand their operations thereby creating additional capital investment and job creation. The NMTC program is a vital component to help facilitate growth in rural communities.

Please continue the NMTC program and help rural communities grow.

-Kingsley Brock, Director of Economic Development, Gibson County TN Office of Economic Development, Trenton, TN

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