Peterson Farms

New Markets Tax Credit Coalition

Shelby,
MI
(2019)

Peterson Farms

Business Development, Food Manufacturing, Manufacturing, Rural, Timber and Agriculture

An expansion project that requires a multi-year capital investment of $22 million but is expected to yield an additional 50-70 new jobs for the rural community.

Investment

NMTC Amount: $11,000,000
Total Project Cost: $11,955,059

IMPACT

399 FTE jobs
65 construction jobs

CDEs

Michigan Community Capital

Investor

PNC

Project Description

Already Oceana County’s largest employer, Peterson Farms is beginning an expansion project that requires a multi-year capital investment of $22 million but is expected to yield an additional 50-70 new jobs for the rural community. The project is also being supported by $3 million in net proceeds from Federal New Market Tax Credits from Michigan Community Capital and the Michigan Strategic Fund and a $1 million Community Development Block Grant through the Michigan Economic Development Corporation and the Michigan Strategic Fund. The project was also made possible through the efforts and collaboration of The Right Place and the Oceana County Economic Alliance.

MAP

Address: 3104 West Baseline Road, Shelby, MI 49455

Census Tract: 26127010400

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