Western States

Pocatello,
ID
(2014)

Western States

Business Development, Manufacturing, Warehouse and Wholesale

Western States Equipment, an Idaho-based Caterpillar sales and service company, had outgrown its original facility so the NMTC financed a new one.

Investment

NMTC Amount: $20,160,000
Total Project Cost: $25,955,002

IMPACT

24 FTE jobs

CDEs

Mofi

Investor

Wells Fargo

Voices from the Community

The NMTC program provides gap and incentive financing and guidance for high-impact, economy-expanding, community revitalizing business investment projects. The project they supported in Pocatello (Western States CAT Expansion) retained & created good jobs & services that are integral to several of the region’s main industrial clusters,(mining, agriculture, logistics, construction) and triggered commercial development in an area stagnated by the last recession.

New Market Tax Credits can be the project feature that encourages a business person to invest in a venture and change employee lives and enhance our community’s vitality! 120 great jobs, a beautiful new building at Pocatello’s south entrance, subsequent development and economic growth are the results.

-John Regetz, Bannock Development Corporation, Pocatello, Idaho

Project Description

Western States Equipment, an Idaho-based Caterpillar sales and service company, had outgrown its original facility. They needed more space for their headquarters and wanted additional room for training. Their plans for expansion, however, had stalled because of high construction and rental costs in Pocatello. With the help of New Markets Tax Credit financing, they were able to build a new facility that now employs nearly 150 people. It also houses an innovative on-the-job training program for students at Idaho State University, a win-win for the community of Pocatello.