Mercury Mosaics and Tile

New Markets Tax Credit Coalition

Wadena,
MN
(2020)

Mercury Mosaics and Tile

Business Development, Manufacturing, Rural

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital.

Investment

NMTC Amount: $655,738
Total Project Cost: $765,000

IMPACT

20 FTE jobs
5 construction jobs
19,200 sq. ft. of real estate

CDEs

Midwest Minnesota CDC

Investor

US Bank

Project Description

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital. The company’s existing location in Northeast Minneapolis is land locked and doesn’t offer any possibilities for expansion.

After a two year process involving site visits to four MN communities, a WI community and an Iowa community, the company identified Wadena, MN as its preferred choice for expansion. Wadena, MN is small rural community about 3 hours from Minneapolis.

MAP

Address: 1430 Homecrest Avenue, Wadena, MN 56482

Census Tract: 27159480300

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