Weidmann Technology

New Markets Tax Credit Coalition

Saint Johnsbury,
VT
(2010)

Weidmann Technology

Business Development, Manufacturing, Rural

Electrical Insulation Manufacturer: A project involved the construction of a 24,338 sq. ft. manufacturing facility and the acquisition of new machinery for WETI, a global leader in electrical insulation for transformer manufacturers and transformer users.

Investment

NMTC Amount: $34,563,761
Total Project Cost: $37,569,526

IMPACT

105 FTE jobs
60 construction jobs
24,338 sq. ft. of real estate

CDEs

Evernorth Rural Ventures, Grow America, MHIC

Investor

Wells Fargo

Voices from the Community

In the many low-income communities of our rural 3-county region of Vermont, the NMTC program is essential for any large economic development projects. The program is able to bring capital to projects that would otherwise not be available.

-David Snedeker, Executive Director, Northeastern Vermont Development Association, St. Johnsbury

Project Description

Electrical Insulation Manufacturer: This project involved the construction of a 24,338 sq. ft. manufacturing facility and the acquisition of new machinery for WETI, a global leader in electrical insulation for transformer manufacturers and transformer users. Once completed this facility will be the only location in the U.S. with this type of equipment. Without NMTC financing, WETI was likely to expand its operations in another international location.

MAP

Address: 1 Gordon Mills Way, Saint Johnsbury, VT 5819

Census Tract: 50005957400

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