Goodnews Bay Regional Processing Plant

New Markets Tax Credit Coalition

Platinum,
AK
(2009)

Goodnews Bay Regional Processing Plant

Manufacturing

Construction and permanent financing for a seafood processing plant located in Platinum, Alaska

Investment

NMTC Amount: $40,300,000
Total Project Cost: $41,200,000

IMPACT

667 FTE jobs
210 construction jobs
4,957 sq. ft. of real estate

CDEs

Capital Impact Partners, Travois, Waveland Community Development

Investor

Wells Fargo

Project Description

This multi-acre complex includes 37,800 sq. ft. of buildings that include a seafood processing plant, a maintenance building, a camp and dining facility for 130 people, and a tank farm. Coastal Villages Region Fund, which provided the tax credit financing for the Alaska native fish processing plant in Platinum, Alaska, a rural low-income community with a poverty rate of 25%.

The fish processing plant has or will provide 669 new permanent jobs, 210 construction jobs, and a network base for local fishermen. The Goodnews Bay Regional Processing Plant was awarded Non-Metro Qualified low-income Community Investment (QLICI) Deal of the Year by Novogradac Community Development Foundation. The award acknowledges Community Development Entities (CDE) for their well-executed vision, measurable community impact and commitment to establishing positive change by bringing more people and places into the economic mainstream

MAP

Address: 711 H Street, Platinum, AK 99501

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