Mannington Mills 2 – Rigid Core - New Markets Tax Credit Coalition

calhoun, GA (2019)

Mannington Mills 2 – Rigid Core

Business Development, Manufacturing, Rural

The NMTC financed equipment purchase for a flooring manufacturer to bring a line of business onshore that is currently 100% imported from China.

Investment

NMTC Amount: $26,275,619
Total Project Cost: $29,318,789

IMPACT

240 FTE jobs
47 construction jobs
(1) 228 of 240 jobs will be filled by low-income persons or low-income community residents. (2) 100% of the 240 employees will be paid above living wage according to MIT's calculator.

CDEs

Local Initiatives Support Corporation, MuniStrategies, River Gorge Capital

Investor

US Bank

Project Description

Summary: The NMTC-financed equipment purchase for a flooring manufacturer to bring a line of business onshore that is currently 100% imported from China. Mannington Mills, Inc. is a fifth-generation family-owned flooring manufacturing company that specializes in luxury vinyl products. Mannington seeks to expand a prototype production facility for its Rigid Core line of business in rural Georgia, creating US-based jobs and expanding manufacturing capabilities that would otherwise remain in China. NMTC QLICIs were used to subsidize the cost to construct a new facility to house the Rigid Core project and acquire and install equipment for Rigid Core production lines.

MAP

Address: 115 old belwood road se, calhoun, GA 30701

Census Tract: 13129970600