Food Manufacturing

Make the New Markets Tax Credit permanent

Business Development, Food Manufacturing, Manufacturing

CDE(s): Dudley Ventures

The New Markets Tax Credit helps provide jobs, economic development and food security, says Dr. Chris Freeman, CFO of Bongards Creameries. He says it should be a permanent federal policy.

Dole Foods Bessemer Expansion

Bessemer City,
NC
(2007)

Business Development, Food Manufacturing, Manufacturing

CDE(s): TruFund, USBCDE

NMTC financing supported 900 jobs in Bessemer City.

Highland Baking Company (2023)

Spartenburg,
SC
(2023)

Business Development, Food Manufacturing, Manufacturing

CDE(s): Chase, Local Initiatives Support Corporation, National New Markets Fund, Urban Action Community Development

NMTC financing helped expand the Highland Baking Company plant in Spartanburg, South Carolina.

Snak King

Freeport,
IL
(2019)

Food Manufacturing

CDE(s): Midwest Renewable Capital

NMTC financing supported 192 jobs at a food manufacturer in Freeport, IL.

Full Circle Brewing

Fresno,
CA

Beverages, Food Manufacturing

CDE(s): Lendistry

NMTC financing for Full Circle Brewing created 10 FTE jobs.

Blue Moose

Lafayette,
CO
(2022)

Food Manufacturing

CDE(s): Greenline Ventures

NMTC financing supported facility renovation/capacity expansion for a manufacturer

Pretzel Baron

Cincinnati,
OH
(2019)

Food Manufacturing

CDE(s): Finance Fund

Pretzel Baron, a 100-year old Ohio pretzel manufacturer, acquired, assembled and installed equipment in its facility for the purpose of expanding its operations and adding a second production line, which

Hudsonville Creamery

Holland,
MI
(2021)

Food Manufacturing

CDE(s): Michigan Community Capital, PNC

Purchase, installation and operation of new equipment in an ice cream manufacturing facility in Holland, MI.

Birds Eye Peas

Waseca,
MN
(2021)

Food Manufacturing

CDE(s): CRFUSA, Midwest Minnesota CDC, Waveland Community Development

Financing for a rural manufacturing/production facility that processes and packages pea for national distribution.

Wayne Farms and Laurel Fresh Production Facility

Laurel,
MS
(2020)

Food Manufacturing

CDE(s): Capital One, MuniStrategies

Poultry producer and processor Wayne Farms is investing $16.9M in the expansion of its Laurel Fresh Production Facility in Mississippi, US.

Jack Links Beef Jerky Manufacturing and Water Treatment Facility

Alpena,
SD
(2012)

Food Manufacturing, Manufacturing, Waste Management, Water Management

CDE(s): Chase, Dakotas America, Midwest Minnesota CDC

Demand for beef jerky was rising, and the Jack Link’s upgraded plant in Alpena answered the call. Link Snacks Inc., or LSI, which produces Jack Link’s products, completed a 26,000

Reser’s Fine Foods, Inc

Topeka,
KS
(2019)

Food Manufacturing

CDE(s): Central Bank of Kansas City, Dudley Ventures

The repurposing and equipping of a vacant food manufacturing plant into a baked foods facility.

Castellucci Hospitality Group

Johns Creek,
GA
(2021)

Food Manufacturing, Manufacturing

CDE(s): United Fund Advisors

In order to expand production and create more high-quality jobs, Castellini constructed a new 180,000 sq. ft. refrigerated processing and distribution facility that includes 20,000 sq. ft. of LEED-certified office

Towne Club Bottling Co

Detroit,
MI
(2018)

Beverages, Food Manufacturing, Manufacturing

CDE(s): Midwest Industrial Redevelopment Fund

Financing for a soda distributor and bottler, Towne Club Bottling.

Chobani

New Berlin,
NY
(2011)

Food Manufacturing, Manufacturing

CDE(s): Bank of America, CDF Development (Cordish), Dudley Ventures, Ecotrust, Empire State Development Corporation, Solomon Hess SBA Loan Fund

The renovation and equipping of a 70,000 sq. ft. facility in New Berlin, a highly distressed rural part of upstate New York.

Tyson Foods

Storm Lake,
IA
(2019)

Business Development, Food Manufacturing, Manufacturing

CDE(s): Iowa Community Development

Tyson Foods opens $50 million feed mill

$300,000 grant paves way for Mar-Jac Poultry expansion in northwest Alabama

Business Development, Food Manufacturing, Manufacturing, Rural, Tornadoes

CDE(s): MuniStrategies

Thin Man Gets Low Cost Loan Brewery Expansion

Beverages, Business Development, Food Manufacturing, Manufacturing, Restaurants and Catering, Retail and Commercial

CDE(s): Empire State Development Corporation

L.A. Prep Project Lincoln Heights Secures Financing

Adult Education, Business Development, College or Vocational Training, Community, Culinary Entrepreneurship, Food Manufacturing, Incubator, Manufacturing

CDE(s): Los Angeles Development Fund, Urban America

Us Bank Investing in Monogram Expansion

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): The Valued Advisor Fund

New York City Regional Center Managed Entity Closes First New Market Tax Credit Transaction

Business Development, Food Manufacturing, Grocery and Fresh Food, Manufacturing, Retail, Retail and Commercial, Warehouse and Wholesale

CDE(s): Chase, Citibank, Hampton Roads Ventures, Mid-City Community CDE, Urban Action Community Development

Mar Jac Poultry Announces Major Expansion

Business Development, Food Manufacturing, Manufacturing

CDE(s): Enhanced Capital

Farm Fresh RI Plans $155 Million Food Hub on Vacant Kinsley Avenue Site

Adult Education, Brownfield Remediation, College or Vocational Training, Community, Culinary Entrepreneurship, Food Manufacturing, Manufacturing

CDE(s): Brownfield Revitalization, Capital One, MHIC

Bakery Near Hearon Circle is Getting Big Upgrade

Business Development, Food Manufacturing, Manufacturing

CDE(s): Innovate Fund

Mission Foods to Open Massive Hub in Texas

Business Development, Food Manufacturing, Manufacturing

CDE(s): MBS Urban Initiatives, Texas Mezzanine Fund, The Valued Advisor Fund, USBCDE

Southern Champion Tray

Chattanooga,
TN
(2021)

Food Manufacturing, Manufacturing, Plastics and Chemicals

CDE(s): AMCREF Community Capital, MuniStrategies, National New Markets Fund, Southern Community Capital, Truist

In December 2021, AMCREF Community Capital provided $9 million of NMTC financing to Southern Champion Tray, a 94-year-old sustainable paperboard packaging converter specializing primarily in food packaging for the grocery,

Chem Processing Inc.

Rockford,
IL
(2017)

Food Manufacturing, Manufacturing

CDE(s): Central States Development Partners

Expansion of existing commercial building for a chem manufacturer Central States provided $2.2 million in New Market Tax Credit financing to support a 35,000 sq. ft. new manufacturing and warehouse

Ogaakaaning Wild Rice

Bemidji,
MN
(2021)

Food Manufacturing, Manufacturing, Timber and Agriculture

CDE(s): Travois, USBCDE

Red Lake Inc., an economic development enterprise of the Red Lake Band of Chippewa Indians, and its subsidiary, Ogaakaaning Wild Rice LLC, expanded its wild rice business to better serve

Independent Record

Helena,
MT
(2021)

Beverages, Historic Rehabilitation, Mixed-use, Retail

CDE(s): Mofi

The project is the remediation and rehabilitation of a 22,000 sq. ft. blighted and vacant downtown building into commercial office and retail space that will include co-working space, an archtecture

Five Points Community Capital, LLC closes $7.76 million New Markets Tax Credit to support expansion of Houston Meat Distributors, Inc

Business Development, Food Manufacturing, Manufacturing

CDE(s): Five Points Capital

4Roots lands $2.47 million from tax credit deal to build Orlando Packing District farm

Food Manufacturing

A deal involving a federal tax credit program has landed restaurateur John Rivers' nonprofit 4Roots $2.47 million to help fund an educational farm

Izzy’s Ice Cream

Minneapolis,
MN
(2012)

Business Development, Food Manufacturing, Manufacturing, Retail

CDE(s): University Financial Corp.

A purpose-built ice cream kitchen designed by award-winning Minnesota architect David Salmela - is taking shape across and up the Mississippi in a lot just across Gold Medal Park from

Westover Farms

Steelville,
MO
(2013)

Business Development, Community, Food Manufacturing, Manufacturing, Recreation, Rural

CDE(s): Heartland Regional Investment Fund

NMTC financing supported Westover Farms, a recreational and lodging facility that also processes and sells fresh caught trout.

Delta Peanut

Kennett,
MO
(2021)

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): Community Development Venture Capital Alliance, Hampton Roads Ventures, Heartland Renaissance Fund

The construction of a peanut processing plant that allows Delta Peanut, a cooperative of 73 family-owned peanut farms, to process and directly sell its peanuts, rather than outsourcing this activity

Sweet Potato Processing Facility

Delhi,
LA
(2010)

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): Bluehub

NMTC project provides area residents a place to work and 275 jobs.

Highlight Center

Minneapolis,
MN
(2015)

Beverages, Business Development, Community, Food Manufacturing, Incubator, Manufacturing, Restaurants and Catering, Retail and Commercial

CDE(s): University Financial Corp.

The transformation of a brick building at 807 Broadway Street in Northeast Minneapolis into modern-day business park.