Installation of new equipment, tooling, production lines and manufacturing process and expansion of internal reconfiguation to converting facility from outdated technology to utilizing more efficeint technology. – Nemak USA, Inc. (â€œNemakâ€) is an existing manufacturer of complex aluminum components primarily for the automotive industry, utilizing recycled aluminum.
This project funded construction of a new $13M twin bay airplane paint shop, as part of MAAS’ $22.36M overall investment in the Airbus facility located at Brookley Aeroplex in Mobile, AL. After announcing their first US-based aircraft production line would be located in Mobile, Airbus selected MAAS to design/build and operate a single-aisle paint shop adjacent to the aircraft manufacturer’s facility under a long-term contract to paint all its new A320 planes. The NMTC financing provided MAAS with the funds to design/build a second paint shop and finish the construction of a primary operation that will both service aircraft from the Airbus facility, as well as support the operations of ST Aerospace – the world leader in aircraft maintenance, repair and overhaul (“MRO”). For over 30 years, MAAS Aviation has delivered world-class standards in aircraft exterior refinishing to over 200 aircraft operators worldwide. MAAS Aviation also provides aircraft painting services to OEM manufacturers and is regarded as one of the leading aircraft painting companies in Europe with a reputation for high quality and reliability. The newly constructed facility at the Brookley Aeroplex in Mobile will be MAAS’s first US facility and will create 87 new permanent jobs. Construction of the $13 million facility was financed by First NBC Bank as the leveraged lender and also the federal NMTC investor. MAAS will actively recruit and train local workers and equip them with very specialized industry training that MAAS has developed through their international operations. MAAS will also commit to annual scholarships available to local community colleges and partnerships with organization such as Southwest Alabama Workforce Development Council.
Vulcan Aluminum Mill Vulcan, Inc. is an employee-owned company located on the Alabama Gulf Coast in Foley. The firm operates one of the only completely vertically integrated aluminum processing plants in the country, in which raw aluminum bars are heated into a molten form, then rolled into coils. The project included the addition of a state-of-the-art, 24,000 sq. ft. building to the existing facility as well as installing a new Annealing Furnace, Water Cooling System and Melting Furnace, which raised production capacity to 110 million pounds per year. Modifications to the Mill and mill-associated equipment were also performed to enhance speed and efficiency.
Burnsville’s 2013 unemployment rate of 35.4% was more than three times the national average. During the 1990’s, Tishomingo County lost approximately 2,500 manufacturing jobs, primarily in furniture and manufactured housing businesses. As the economy began to add back manufacturing jobs in the 2000’s, the Great Recession hit and saw unemployment rise rapidly.The area has faced challenges creating economic opportunities for residents. Due to low educational attainment levels, the county was designated as a low education county (25% or more of residents 25 to 64 years old had neither a high school diploma nor GED in 2000) and one out of every five residents is below the poverty threshold levels. Mississippi Silicon is changing those statistics. The company built and is operating a $200 million silicon metal production facility in Burnsville, Mississippi with the help of RDP’s $20 million NMTC allocation. Silicon metal is consumed throughout the world in a wide variety of applications including the aluminum, automotive, chemical, semiconductor and solar industries. As a company that will be producing in excess of $100 million in product annually, MS Silicon will require large quantities of raw material inputs for its manufacturing processes. On average during the first 10 years of operation, the company will spend over $52 million on raw material inputs such as quartz, coal, wood chips, electricity, and electrodes â€“ materials that serve as the building blocks for the successful production of high grade silicon. While some of these materials (e.g. electrodes) will be sourced internationally, most will come directly from small towns and regions in the Southern and Midwestern United States. Mississippi Silicon has committed to provide at least 200 jobs for an area with high unemployment rate and few alternative employment opportunities. Additionally, the investment in Mississippi Silicon brings necessary infrastructure to the Burnsville Industrial Park. Community leaders hope the infrastructure attracts additional business, industry and jobs to the area. Without the NMTC, this project would not have gone forward.
The Iron Horse Grill MS/Music Experience development is a 15,000 square foot historic/NMTC development. The project involved re-building 7,500 square feet of the original footprint of the iconic building that was destroyed by two fires in the late 1990s.
Since 1984, Resinall Corp operated a manufacturing facility that produced thermoplastic resins for use in publication ink. The plant is located in Hattiesburg, Mississippi, a community with high unemployment and poverty rates. In the five years preceding 2011, changes in the market and technology resulted in declining business for Resinall. In an effort to help Resinall keep its business open, two Community Development Entities, SEDCE Ventures, LLC and MuniStrategies, LLC, provided a total $18 million in NMTC financing that allowed the company to produce a new Hydrogenated Hydrocarbon resin unit and launch a new line of hydrogenated tackifier resins for use in hot melt pressure sensitive adhesives. In addition to $12 million in NMTC financing employed by SECDE Ventures and $6 million in NMTC financing, from MuniStrategies, $15 million was secured from Mississippi Business Finance Corporation to facilitate the completion of this facility expansion for Resinall. The Mississippi Development Authority also utilized a $2.4 million allocation of state NMTCs, which, along with the federal allocations, helped preserve 125 manufacturing jobs and create 20 new positions, with that number expected to grow. The expansion of the Hattiesburg plant has enabled Resinall to produce a wide range of resins in solid and solution form – with the added security of manufacturing redundancy. In addition, the new technical, operations, and sales facility have strengthened technical and operational innovation. As a condition for receiving NMTC financing, Resinall agreed to make significant philanthropic contributions and has already made a $10,000 donation to Hattiesburg’s Oseola McCarty Children’s Home to help provide needy children with healthy meals. The company has also committed to providing job opportunities with living wages and benefits to low-income residents, and it utilized Minority Business Enterprises and Women Business Enterprises in the construction of the project.