UP Paper

Manistique,
MI
(2020)

UP Paper

Business Development, Manufacturing, Rural

NMTC financing supported equipment upgrades for a recycled paper manufacturer and paper mill.

Investment

NMTC Amount: $8,000,000
Total Project Cost: $11,740,000

IMPACT

111 FTE jobs

CDEs

Michigan Community Capital

Investor

Chase

Project Description

NMTC financing supported equipment upgrades for a recycled paper manufacturer and paper mill. The new financing supported the ongoing development and improvement of the Manistique-based paper company’s operations.

The refinancing consisted of two components: an allocation of Federal New Markets Tax Credits from Michigan Community Capital, which provides favorable terms for businesses investing in defined economically distressed regions; and conventional term and revolving credit facilities with JPMorgan Chase.

MAP

Address: 402 West Elk Street, Manistique, MI 49854

Census Tract: 26153000300

News Stories

Up Paper Completes Refinancing

Other Michigan Projects

Marygrove

Detroit,
MI
(2022)

Healthcare, Schools

CDE(s): Building America CDE, The Community Builders

The Immaculata School is the rehabilitation of an innovative, foundational, and collaborative education facility serving K-5 and run by the Detroit Public School Community District (DPSCD). Rehab includes mechanical, electrical,

Rehab of 110 South Main

Ann Arbor,
MI
(2006)

Historic Rehabilitation, Mixed-use, Restaurants and Catering, Retail and Commercial

CDE(s): Key Bank

Responding to downtown Ann Arbor's impending growth while putting Ann Arbor's history, livability and community first, mission design and development creates a new paradigm for future real estate development and

Mel Trotter Industries

Grand Rapids,
MI
(2023)

Business Development, College or Vocational Training, Community, Housing, Manufacturing, Shelters and Community Food, Supportive Housing, Vocational Training

CDE(s): Chase, Cinnaire New Markets, Consortium America, Michigan Community Capital

Mel Trotter Ministries Creating New Opportunities in Grand Rapids

YWCA West Central Michigan

Grand Rapids,
MI
(2016)

Community, Daycare and Early Childhood, Healthcare, Recreation, Shelters and Community Food, YMCAs and YWCAs, Youth and Families

CDE(s): Chase, IFF

Renovation and expansion of domestic violence center.