Husqvarna Forestry Products N. A., Inc. (“Husqvarna”), a manufacturer of lawn and garden products, was expanding its facility located in rural Nashville, Arkansas, (pop. 4,501) (the “Project”). Husqvarna plans to construct a 350,000 sq. ft. warehouse, as well as purchase equipment needed in connection with the expansion. The Project allows Husqvarna to streamline processes and reduce costs.
The Project will create 54 new, quality full-time permanent jobs and retain 67 jobs. 75% of new jobs are anticipated to be filled by low-income persons or residents of the surrounding low-income community. Husqvarna offers employees skills-training programs, certification programs, safety training, and leadership opportunities designed to allow employees to sharpen their skills, improve their performance, and provide opportunities for advancement.
NMTC financing enabled the project to retain and create quality jobs, increase the efficiency of the warehouse operations, and further improve Husqvarna‘s competitiveness within the market.
Additional NMTC allocation was provided by Heartland Renaissance Fund ($11,000,000) and Capital One Community Renewal Fund ($2,000,000). Capital One Bank acquired the New Markets Tax Credits.