Emerald Capital sourced and closed $40M in New Markets Tax Credit financing for Wholestone Farms, a Pork Processing plant in Fremont, NE.

With the $40 Million in New Markets Tax Credit financing, Wholestone expanded their operations with facility expansion and equipment procurement. The result will impact the local community with an additional 800 jobs for the surrounding community. New Markets Allocation was provided by Dudley Ventures, Greenline Ventures, and Stonehenge Community Capital. US Bancorp Community Development Corporation was the Tax Credit Investor for the New Markets Tax Credits.

Employees will have access to training, career advancement, and advanced educational opportunities through local colleges. Wholestone is also partnering with local schools, community leaders, and healthcare facilities to provide accessible jobs and services to surrounding minority communities with limited English proficiency.

Due to the COVID-19 pandemic, Wholestone has seen significant cost increase and supply chain constraints. These rising costs have severely impacted the co-op’s planned expansion & immprovements due to budget increases which resulted in a budget gap that has put the Project size in doubt. Without the New Markets Tax Credits the Project will not move forward at its currently planned scale, greatly limiting job creation and economic benefits to the low-income community.