Chobani is one of New York State’s largest dairy product manufacturers and makes the widely popular Chobani Greek Yogurt. This Project involved the renovation and equipping of a 70,000 sq. ft. facility in New Berlin, a highly distressed rural part of upstate New York. As of December 2015, the $190 million project had created 580 direct permanent, full-time jobs and 100 temporary jobs, and allowed Chobani to retain 802 direct, permanent jobs. The project has also created an estimated 3,200 additional indirect jobs due to operations.
Employees working at the manufacturing facility will be eligible for benefits including health insurance, vacations, holidays, bonuses, and 401k. The Chobani facility is strongly supported by the state, county and town and serves as a dynamic channel for future development in this region. CDF Development, LLC provided NMTC allocation of $7,250,000, EcoTrust CDE, LLC provided NMTC allocation of $10,000,000, Empire State New Market Corporation provided NMTC allocation of $18,000,000, and Solomon Hess SBA Loan Fund LLC provided NMTC allocation of $8,000,000. Goldman Sachs acquired the New Markets Tax Credits for this innovative project.