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Saint Paul, MN (2010)

Baldinger Bakery

New bakery keeps Baldinger in St. Paul, adds 40 jobs long-term

Investment

  • NMTC Amount: $27,640,000
  • Total Project Cost: $41,682,745

IMPACT

  • 80 FTE jobs
  • 90 construction jobs
  • Project supports 40 new jobs and retains 50 jobs

Investor

Project Description

Baldinger Bakery’s new state-of-the-art, energy-efficient baking facility employs 90 workers on the old Griffen Wheelworks site in East Saint Paul, a neighborhood with an unemployment rate nearly twice the national average. Building the new 144,854 square-foot facility employed 80 construction workers. The business also supports local women and minority-owned enterprises through the procurement of its raw materials.

“Businesses depend on access to capital to succeed. Our 125-year-old family business is no different,” said Steve Baldinger, President of Baldinger Bakery. “In 2010, we received the funds we needed to expand and continue producing goods and services in a cost-effective production environment with the help of the New Markets Tax Credit. We are incredibly thankful for the opportunity the credit afforded us, which also allowed us to stay in the city that has been our home for over a century and provide a living-wage to our 90+ employees.”

Photo by Pope Design Group.

MAP

Address: 1256 Phalen Boulevard, Saint Paul, MN 55106

Census Tract: 27123031701

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