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  • Adairsville,
  • GA
  • (2022)

Momemi & Sons

District: Barry Loudermilk (R-GA11)

NMTC financing supports anchor for catalytic regional development.

Investment

  • NMTC Amount: $14,000,000
  • Total Project Cost: $18,154,703

IMPACT

  • 98 FTE jobs
  • 100 construction jobs
  • 300,000 sq. ft. of real estate

CDEs

,

Investor

Voices from the Community

“With 50 years of experience in the business, combined with a new generation, we feel ready to tackle any challenge and are excited to explore all the new possibilities of this beautiful industry. Investing in our team and their creativity is truly what allows us to be so successful.”

-Reza Momeni, President of Momeni, Inc.

Project Description

RDP and Dudley Ventures both allocated $7 million in New Markets Tax Credits (a total of $14 million) to help Momeni, an importer of high quality Persian rugs construct, equip, and operate a new 300,000 sq. ft. distribution center in Adairsville (GA). The facility will serve as the centralized import and distribution hub for their expanded customer base in the Southeast, creating 98 quality jobs, many indirect jobs, and anchoring the region for further catalytic economic development. NMTC investment for this project spurred opportunities for a rural community with high unemployment.

“Momeni’s investment means quality jobs and economic advancement for Adairsville and the surrounding area. That is great news for rural northwest Georgia.” – Jonathan Klaassen, Rural Development Partner’s CEO

Momeni and Sons, Inc.

Momeni started as a dream by a father and his sons to bring fine Persian rugs into every home. Their cornerstone, “A Tradition of Quality” is a guiding principle that runs through each and every product they offer. While Momeni has grown, their family values haven’t changed. Since the beginning they have focused on delivering meaningful design, high-quality construction, innovative techniques, and trends that set a higher standard.

Community Support

Regional economic development authorities have given this project great support, as both Bartow and Gordon counties work together to attract new employers to the region. RDP and Momeni’s commitment to workforce development will be an added benefit, helping employees reach their full potential while establishing a well-trained workforce in this underserved region.

Construction of the new facility began in 2022.

MAP

Address: 2449 Trimble Hollow Road, Adairsville, GA 30103

Census Tract: 13129970802

External Profile
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