Aerofarms – VEGS1 - New Markets Tax Credit Coalition

Newark, NJ (2018)

Aerofarms – VEGS1

Investment

NMTC Amount: $10,585,174
Total Project Cost: $16,483,442

IMPACT

107 FTE jobs
48 construction jobs

CDEs

GS New Markets Fund, MBS Urban Initiatives, New Jersey Community Loan Fund

Investor

Goldman Sachs

Project Description

Improvement of a light industrial building and its temperature control systems to improve the operations of aeroponic vertical farming company; Industrial facility anchored by fresh food grower and distributor.

MAP

212 Rome Street, Newark, NJ 7105

Related Projects

2014

Molalla, OR | 5th District

Tillamook Fiber Recovery

Bank of America

A loan to Tillamook Fiber Recover allowed the company to purchase a 40-acre site located in Molalla, Oregon, and…

2012

Darlington, SC | 7th District

DV Timber

CEI Capital Management

Myrtle Beach-based Canfor Southern Pine is investing $8 million to expand operations in Darlington County and bring an estimated…

2018

Newark, NJ | 8th District

Aerofarms – VEGS1

GS New Markets Fund MBS Urban Initiatives New Jersey Community Loan Fund

Improvement of a light industrial building and its temperature control systems to improve the operations of aeroponic vertical farming…