Global Polymer is a manufacturer of direct compression molded ultra-high molecular weight polyethylene that produces net shape industrial parts. Global is purchasing additional equipment and constructing a 35,000 sq. ft. expansion to their current 75,000 sq. ft. production facility which is located in rural Madison, SD, in a non-metro census tract with a poverty rate of 31.2%.

Global Polymer’s process for producing this polyethylene, direct compression, is the first major advancement in the compression molding process in more than 50 years. This process produces parts faster, at a lower cost than other companies, and reduces waste.
The construction of the $51.1 million project will take more than a year, raising the risk of not obtaining a favorable interest rate for the debt financing due to macro-economic conditions. The uncertainty related to the timely execution of the project put the entire expansion project at risk, however; with NMTC financing, this project was made possible.

This project will create 205 full-time jobs, retain 167 full-time jobs, and create 35 full-time construction jobs. Global Polymer offers on-the-job and apprenticeship training, continuous safety and wellness training, and opportunities for career advancement and increased wages. It also offers limited tuition reimbursement for employees who participate in the Build Dakota Scholarship Program.

In addition to this, through donations and TIF funding, this project will support the development of the community’s first state-licensed childcare center. NMTC financing was provided by DVCI ($6 million), ERF ($6 million), CEI ($10 million) and CDVCA ($6.5 million).