Foremost Farms

New Markets Tax Credit Coalition

Richland Center,
WI
(2010)

Foremost Farms

Business Development, Manufacturing, Rural

Financing for dairy production upgrades helped retain and create jobs, drive investment to future projects to increase profitability, and return equities to members while retaining the proper equity base.

Investment

NMTC Amount: $44,500,000
Total Project Cost: $45,000,000

IMPACT

114 FTE jobs

CDEs

CEI Capital Management, WHEDA

Investor

US Bank

Project Description

The New Markets Tax Credit helped Foremost Farms USA finance dairy production upgrades, retain and create jobs, invest in future projects to increase profitability, and return equities to members while retaining the proper equity base. The Wisconsin Community Development Legacy Fund, a Community Development Entity comprised of WHEDA, Impact Seven and Legacy Bancorp, provided a $25 million NMTC allocation, while CEI Capital Management LLC, a for-profit subsidiary of the Maine-based Coastal Enterprises Inc., provided a $20 million allocation.

MAP

Address: 684 South Church Street, Richland Center, WI 53581

Census Tract: 55103970400

PDF Profile

Other Wisconsin Projects

Nueske’s Meats

Wittenberg,
WI
(2016)

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): Cinnaire New Markets, PNC, WHEDA

This project involved expanding a facility for meat a manufacturer.

Boys & Girls Club of the Wisconsin Rapids Area and the South Wood County YMCA/YWCA

Wisconsin Rapids,
WI
(2018)

Boys and Girls Clubs, Community, Daycare and Early Childhood, Incubator, Mixed-use, Nonprofit Hub, Recreation, Rural, YMCAs and YWCAs, Youth and Families

CDE(s): Cinnaire New Markets, Mid-City Community CDE

NMTC financing supported a new 90,000 sq. ft. facility located in a severely distressed, non-metro, low income community.

Richland Center Renewable Energy and Wastewater Treatment

Richland Center,
WI
(2012)

Community, Energy, Manufacturing, Rural, Waste Management, Water Management

CDE(s): Rural Development Partners, WHEDA

NMTCs enabled RCRE to construct a new state-of-the-art wastewater treatment facility in Richland Center, providing a solution for the significant problems of the city’s old wastewater treatment facility, which was

Yellow Freight

West Allis,
WI
(2016)

Brownfield Remediation, Business Development, Manufacturing

CDE(s): First-Ring Industrial Redevelopment Enterprise

Acquisition, construction, and leasing of two industrial buildings encompassing a site of approximately 170,000 square feet on Rogers Street in a highly distressed area of West Allis, WI.