Platte Valley Distillers (PVD) has a license to utilize a patented process for the production of feed cubes and pellets from distillers grain that stays compact with no binders/fillers, transports well, and has a shelf life of up to three years. This product not only removes distillers grain from the waste stream, but provides farmers and ranchers with a high-quality feed. In addition to manufacturing feed cubes and pellets directly, PVD will heavily focus on expanding the adoption of the technology at other licensed facilities though the manufacture and refurbishment of production equipment. Thanks to the flexible and affordable private capital provided through the New Market Tax Credit (NMTC) Program through CEI Capital Management LLC (CCML), PVD will be able to begin operations in Lexington, Nebraska, adding 12-14 full-time equivalent (FTE) jobs with strong benefits. PVD plans to work with a local workforce development organization to recruit employees. PVD will also support the next generation of ag-tech workers through the creation of a $50,000 scholarship fund, which will be available to students who commit to work as an employee for one year after the completion of their degree.
After sitting vacant for more than a decade, the former WestPoint Stevens building in Abbeville is now buzzing with new life and 115 jobs after a $40 million transformation by Great Southern Wood.
In its second award from JOBS, CTUF was granted the remaining $50,000 to continue its support of public education, teacher professional development, and community and apprenticeship programs through grant-making to community-based organizations.
The NMTC allocation enabled a timberland investment and management company focused on natural and sustainable logging to invest in the project.
Essex Crossing includes 1,000 residential for-sale and rental units, a 15,000 sf public park, a 10,000 sf rooftop urban farm and 1.9 million square feet of residential, commercial, and community space.
Since 1990 (and the compounded effects of the global financial crisis), the Southern United States’ wood supply chain has lost 30% of its sawmills and nearly 20% of its pulp mills. With mill capacity shrinking, rural communities that depend on mill demand for labor and other production inputs have suffered dramatically. In the wake of this negative environment, MuniStrategies invested $11.8MM in this Moultrie, GA sawmill upgrade and reconfiguration, as part of an overall $28.4MM expansion. The NMTC financing provided the funds to fully the realize the capabilities of the reconfiguration and upgrades of the sawmill, drying and finishing processes. This investment was critical in strengthening the long-term viability of this 70-year-old mill by increasing production capacity and significantly reducing costs to better weather various market cycles associated with the commodity lumber market.
In 2009, Georgia Pacific operated a large plywood lumber mill in Louisville Mississippi. At the time, it was the largest employer in Louisville, located in east central Mississippi. Louisville was, according to the mayor, a “plywood town”. When the mill was shuttered in response to the Great Recession, all of the 400 remaining jobs were lost in the town of just over 6,600 people. In early 2014, Winston Plywood & Veneer made a commitment to the City of Louisville to restart the mill on a limited scale, but on April 18, 2014, an EF-4 devastated the town, killing 10 people and destroying over 1,000 structures including the 265,000 square foot mill. The town was subsequently declared a Federal Disaster Area by FEMA. Winston Plywood and the City of Louisville led by Mayor Hill, with the help of FEMA, MS Development Authority, Appalachian Regional Commission and many other local stakeholders, have realized a dramatic rebirth of this business with a brand new state-of-the-art facility that will employ 400 local residents. In October 2015, Novogradac and Company selected Winston Plywood & Veneer its Operating Business QLICI of the Year.
The project is a first-in-nation renewable energy operating business that uses Sierra Nevada forest waste as its feedstock to produce electricity. The electricity will be used in an adjacent industrial park (a former Brownfield site) that focuses on the manufacturing of forest-originated products. The utilization of this forest waste is an imperative for the State and USDA to reduce fire hazard in the Sierras. In 2015 Governor Jerry Brown issued an emergency proclamation that specifically called for the development of forest waste-to-fuel plants as a specific strategy in his initiatives for healthy forests. This is a project that truly meets the ‘but-for’ test. The $7.5 million in capital cost is funded primarily through a California Energy Commission grant of $5 million and in-kind cash and material contributions of $1.3 million. Due to the startup nature of the business, limited balance sheet, new technology, special equipment and remote location, debt financing was not available and equity financing was prohibitively expensive. In fact, a public finance consulting firm utilized by the developer was unable to raise the gap financing through any of its own channels, including USDA B&I programs, tax-exempting bonding, etc. new markets filled the gap perfectly. A $6 million NMTC allocation produced a $1.2 million benefit and subsequent to closing, the project was able to break ground.
West Hills Community College District to offer agricultural job training for students and access to healthy foods for low-income families through its new Farm of the Future campus.
Construction of a biomass pellet facility. 30% of workforce to be filled by prisoner return to work employees through second chance program.