Highland Baking Company (2018)

Spartanburg, SC (2018)

Highland Baking Company (2018)

Business Development, Food Manufacturing, Manufacturing

NMTC financing supported the Highland Baking project.

Investment

NMTC Amount: $11,500,000
Total Project Cost: $12,940,322

IMPACT

170 FTE jobs
60 construction jobs

CDEs

Innovate Fund

Investor

Chase

Project Description

Highland Baking Co. (HBC) currently has two production facilities, one located just outside of Chicago and one on Asheville Highway in Spartanburg, which opened in 2012 and quickly reached its production and employment capacities. The company currently employs 210 full-time workers in Spartanburg and operates two production lines for three shifts each day, maxing out its available cold storage space. The Innovate Fund’s investment pays for an expansion of HBC’s cold storage space, allowing the company to continue its fast-paced growth by adding a third production line. This produces 170 new direct jobs in a community with 47 percent poverty and 17.4 percent unemployment.

MAP

Address: 7001 Asheville Highway, Spartanburg, SC 29303

Census Tract: 45083021802

Voices from the Community

We have been fortunate enough to take part in multiple NMTC projects as part of Spartanburg, SC bakery. Without this program, we would not have been able to make the essential investments to not only let us expand, but to let us withstand unforseen disasters such as Covid that could have put the facility out of business. Instead, we were able to keep going, keep everyone employed, and keep supplying bread to surrounding states restaurants at times when other bakeries left them with none.