Revitalizing Rural America (2003-2014)

The CDFI Fund targets 20 percent of NMTC allocation awards to non-metropolitan counties. Thus, the impact in rural America is significant. Between 2003 and 2014:

  • 817 businesses, community facilities, and other important revitalization projects financed.
  • $6.15 billion in NMTC allocation generated $11.6 billion in total project costs.
  • NMTC projects generated 49,940 full-time jobs and 21,706 construction jobs.

Below are a few stories of how small towns and farming communities put NMTC capital to work through manufacturing expansions, timber and forestry projects, hospitals, and community facilities.

Rural Manufacturing Stories

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The NMTC: A Big Deal for Rural America Our July 2017 report analyzed both CDFI Fund transaction data and NMTC Coalition survey data.

Rural Community Facilities

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Timber and Forestry Stories
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More Rural Projects

Lexington Regional Health Center 

Lexington Regional Health Center 
Project City:
Lexington,
Project State:
NE
Project Year:
(2015)
Lexington Regional Health Center (“LRHC”) opened as Tri-County Hospital in September of 1976. The hospital began with seven patients, 40 beds, five physicians, one PA, a board-certified surgeon, and visiting ...
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Pikeville College School Of Osteopathic Medicine

Pikeville College School Of Osteopathic Medicine
Project City:
Pikeville,
Project State:
KY
Project Year:
(2011)
Pikeville University is in Kentucky’s rural, eastern-most Appalachian county. With a 33.5 percent poverty rate and a median family income of only 64.2 percent of the national average, Pike County ...
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Koyukuk Elder Assisted Living Facility

Koyukuk Elder Assisted Living Facility
Project City:
Galena,
Project State:
AK
Project Year:
(2011)
The Yukon-Koyukuk Elder Assisted Living Facility (YKEALF) recently received substantial economic help as U.S. Bancorp Community Development Corporation (USBCDC), a wholly-owned subsidiary of U.S. Bank, and Travois New Markets, a ...
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Chippewa Community Dental Facility

Chippewa Community Dental Facility
Project City:
Lac Du Flambeau,
Project State:
WI
Project Year:
(2012)
Lac du Flambeau Band of Lake Superior Chippewa Community Dental Facility This investment helps the Lac du Flambeau Band of Lake Superior Chippewa Indians to construct a center that will ...
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Grand Lake Stream Woodlands

Grand Lake Stream Woodlands
Project City:
Grand Lake Stream,
Project State:
ME
Project Year:
(2009)
Grand Lake Stream Plantation is a town located in rural Washington County, Maine. It is home to just 125 year-round residents. The town's economy is heavily dependent on the forest, ...
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Mar-Jac Poultry AL

Mar-Jac Poultry AL
Project City:
Phil Campbell,
Project State:
AL
Project Year:
(2016)
Mar-Jac is a fully integrated poultry production company operating in GA, AL, and MS. Mar-Jac was established in 1954 and has been supplying high quality poultry products ever since. Mar-Jac ...
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Blue Ridge Medical Center

Blue Ridge Medical Center
Project City:
Arrington,
Project State:
VA
Project Year:
(2011)
In 2011, the use of NMTCs combined with a Health Resources and Services Administration (HRSA) grant enabled the construction of a $7.2 million medical center and dental clinic which provide ...
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Pueblo of Laguna Wastewater System

Pueblo of Laguna Wastewater System
Project City:
Laguna,
Project State:
NM
Project Year:
(2012)
NMTC financing helped Pueblo of Laguna Utility Authority complete the rehabilitation of the water and wastewater system throughout the tribal lands of Pueblo of Laguna, N.M. The previous water system, ...
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Riverland Medical Center

Riverland Medical Center
Project City:
Ferriday,
Project State:
LA
Project Year:
(2018)
Riverland Medical Center serves rural Concordia Parish in eastern central Louisiana, about 180 miles north of New Orleans along the Mississippi River. Concordia Parish residents experience the challenges of persistent ...
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The Center for Nursing and Rehabilitation

The Center for Nursing and Rehabilitation
Project City:
Hoosick Falls,
Project State:
NY
Project Year:
(2017)
The purchase and improvement of real estate that is leased to a hospital as a medical office building, bringing accessible health care to a rural community. Financing was provided by ...
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Smith County Memorial Hospital

Smith County Memorial Hospital
Project City:
Smith Center,
Project State:
KS
Project Year:
(2018)
The new Smith County Memorial Hospital and Family Practice opened Aug. 5 in Smith Center, Kan. The 60,000-square-foot building took 16 months to construct and the new facility will include ...
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American SprialWeld Pipe Co.

American SprialWeld Pipe Co.
Project City:
Paris,
Project State:
TX
Project Year:
(2018)
The project involves the new construction and equipping of a $62.8M, 275,000 SF spiral welded pipe manufacturing plant in rural Paris, Texas. The project will create 150 full time jobs ...
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La Posada Pintada

La Posada Pintada
Project City:
Bluff,
Project State:
UT
Project Year:
(2015)
Financing for the expansion of La Posada Pintada, a family-owned inn in Bluff, where traditional sources of financing have been hard to obtain for small-business owners in the rural community ...
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Chawla Hospitality Academy

Chawla Hospitality Academy
Project City:
Indianola,
Project State:
MS
Project Year:
(2014)
The Chawla family, owners of one of the most successful hospitality companies in Mississippi, has joined forces with Mississippi Delta Community College (MDCC) to create a new job-training institute that ...
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Mirac, Inc

Mirac, Inc
Project City:
West Union,
Project State:
OH
Project Year:
(2018)
AA $7.55 million investment in Mirac, Inc., a rural Ohio-based electronics assembly and fabrication company with locations in Lynchburg and West Union, that will help keep jobs in rural Ohio ...
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Lyme Mountaineer

Lyme Mountaineer
Project City:
Multi-county,
Project State:
WV
Project Year:
(2018)
For over 40 years, The Lyme Timber Company LP (“Lyme”) has invested in US timberland. It partners with rural communities to sustainably manage working forestland, often resulting in a range ...
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Husqvarna Forestry Products

Husqvarna Forestry Products
Project City:
Nashville,
Project State:
AR
Project Year:
(2017)
Husqvarna Forestry Products N.A., Inc. (“Husqvarna”), a manufacturer of lawn and garden products, will be expanding its facility located in rural Nashville, Arkansas, (pop. 4,501) (the “Project”). Husqvarna plans to ...
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Arapaho Childcare & Healthcare

Arapaho Childcare & Healthcare
Project City:
Riverton,
Project State:
WY
Project Year:
(2018)
Located on the Wind River Reservation, this project is the development of a medical clinic and childcare clinic in a rural medically underserved area that will enhance existing and provide ...
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Beadles & Balfour

Beadles & Balfour
Project City:
Moultrie,
Project State:
GA
Project Year:
(2017)
Since 1990 (and the compounded effects of the global financial crisis), the Southern United States’ wood supply chain has lost 30% of its sawmills and nearly 20% of its pulp ...
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Maniilaq Nursing Home

Maniilaq Nursing Home
Project City:
Kotzebue,
Project State:
AK
Project Year:
(2010)
For Inupiat Eskimo families in Northwest Alaska, access to a nursing home for elders required boarding a flight to Anchorage, 549 miles southeast of Kotzebue, and leaving behind traditional foods, ...
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First Impressions Dental

First Impressions Dental
Project City:
Rhindelander,
Project State:
WI
Project Year:
(2010)
Four pediatric dentists expand dental services in rural Wisconsin. First Impressions is the largest provider of Pediatric dentistry services to Medicaid recipients. “As we’ve grown we remain committed to the ...
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Danimer Bioplastics

Danimer Bioplastics
Project City:
Bainbridge,
Project State:
GA
Project Year:
(2013)
Danimer is an innovative manufacturer of sustainable, renewable plastic products, primarily for the consumer food packaging industry. Danimer provides skilled jobs in a rural, economically depressed community. Traditional plastic products ...
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Voormi

Voormi
Project City:
Pagosa Springs,
Project State:
CO
Project Year:
(2018)
BACKGROUND Pagosa Springs is a 2,000 resident southern Colorado town nestled in the San Juan Mountain range and surrounded by two million acres of national forest. Local median income is ...
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Brooks House

Brooks House
Project City:
Brattleboro,
Project State:
VT
Project Year:
(2011)
Vermont Rural Ventures partnered with the Massachusetts Housing Investment Corporation, to provide $23.4 million in New Markets Tax Credit authority to redevelop and restore the historic circa 1871 Brooks House, ...
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Coyote Valley Hotel and Wastewater

Coyote Valley Hotel and Wastewater
Project City:
Redwood Valley,
Project State:
CA
Project Year:
(2018)
The new Coyote Valley Hotel will be 55,000 square feet and will have 101 guest rooms. It is located along US Highway 101, a major commercial artery bringing customers through ...
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Lancaster Patient Care Center at Weeks Medical Center

Lancaster Patient Care Center at Weeks Medical Center
Project City:
Lancaster,
Project State:
NH
Project Year:
(2018)
New construction 45,000 square-foot addition to a medical facility to increase services of the rural health clinic and critical access hospital in a medically underserved area ...
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Blue Wave and Silver Wave Boats

Blue Wave and Silver Wave Boats
Project City:
Seminole,
Project State:
OK
Project Year:
(2017)
In 2005, First Wave Aviation, a Tulsa-based aerospace company, was seeking a larger facility to repair and overhaul commercial aircrafts. First Wave hadexperienced rapid growth over the previous thirteen years, ...
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Minnewaukan Public School

Minnewaukan Public School
Project City:
Minnewaukan,
Project State:
ND
Project Year:
(2012)
The Minnewaukan Public School District No. 5 needed to relocate its school building because it was continuously threatened by the rising water levels of the adjacent Devils Lake in Minnewaukan, ...
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Hope Street

Hope Street
Project City:
Montpelier,
Project State:
VT
Project Year:
(2007)
Vermont Rural Ventures provided $12.7 million of New Markets Tax Credit authority to renovate the Vermont College of Fine Arts' campus and strengthen its position as a national center for ...
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Yurok Tribal Forestry

Yurok Tribal Forestry
Project City:
Klamath,
Project State:
CA
Project Year:
(2018)
The Yurok Tribal Community Forest and Salmon Fishery Preserve is a California North Coast enterprise focused on sustainable forestry (including a carbon sequestration project), fisheries habitat protection and restoration, and ...
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AVAPCO

AVAPCO
Project City:
Thomaston,
Project State:
GA
Project Year:
(2014)
The AVAPCO project consists of the acquisition, expansion and leasing of an existing biomass research, development, and demonstration facility located in Thomaston, Georgia. The expansion will enhance the production capabilities ...
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Southeast Georgia Blueberry

Southeast Georgia Blueberry
Project City:
Douglas,
Project State:
GA
Project Year:
(2010)
Southeast Georgia Blueberry, LLC is a blueberry processing venture located in Douglas, Georgia, a rural, economically distressed community. In 2009, two large poultry industry employers in the region closed their ...
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Noble Learning Center

Noble Learning Center
Project City:
Caldwell,
Project State:
OH
Project Year:
(2005)
A promotional postcard from the Finance Fund led to a permanent, high quality facility for the Noble Learning Center located in Caldwell, OH. Caldwell is a town of less than ...
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Atchison YMCA

Atchison YMCA
Project City:
Atchison,
Project State:
KS
Project Year:
(2016)
Atchison, Kansas, approximately 45 minutes northwest of Kansas City, Missouri, is a rural community of 11,000 residents. Historically, Atchison County ranks as one of the unhealthiest in the State of ...
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Frontier Fuel

Frontier Fuel
Project City:
Dalhart,
Project State:
TX
Project Year:
(2010)
Located in Dalhart, population 7,237, this retail store is perfectly situated to capitalize on both local and travelling traffic. Dalhart is known by many Texans as the gateway to the ...
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St. Croix Chippewa Indians

St. Croix Chippewa Indians
Project City:
Webster,
Project State:
WI
Project Year:
(2018)
St. Croix Chippewa Indians - Judicial Center - This complex deal was years in the making. It provides refinancing of existing gaming debt, loans for new economic development project construction, ...
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Navajo Tribal Utility Authority Electrical Substations

Navajo Tribal Utility Authority Electrical Substations
Project City:
Shiprock,
Project State:
NM
Project Year:
(2009)
Working with U.S. Bancorp Community Development Corporation (USBCDC) as the investor and The Navajo Tribal Utility Authority (NTUA) as leverage lender, Travois New Markets used $6.4 million in allocation to ...
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Travelers Hotel

Travelers Hotel
Project City:
Clarksdale,
Project State:
MS
Project Year:
(2018)
Received $1,250,000 loan to takeout a construction loan for the rehabilitation of historic hotel in Clarksdale, MS to be run by an artist co-op. In 2018, the Travelers Hotel opened ...
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Synergy Solutions

Synergy Solutions
Project City:
Cordele,
Project State:
GA
Project Year:
(2014)
Synergy Solutions, Cellulosic ethanol plant and recycling center: Synergy reopened and modernized an shuttered recycling facility to provide 1) municipal waste recycling, and 2) ethanol produced from expired sugar-based beverages, ...
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Karuk Services Expansion

Karuk Services Expansion
Project City:
Happy Camp,
Project State:
CA
Project Year:
(2018)
The Karuk Tribe constructed a 4,800 sq ft family services center in Happy Camp, California. The center houses many tribal programs including cash aid, behavioral and substance abuse counseling, job ...
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North Carolina Renewable Power-Lumberton, LLC

North Carolina Renewable Power-Lumberton, LLC
Project City:
Lumberton,
Project State:
NC
Project Year:
(2015)
NCRP will retrofit an existing dormant coal-fired power plant to a renewable energy power plant utilizing biomass, in particular, poultry litter and wood waste: NC Renewable Power (NCRP) retrofit a ...
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West Liberty Tornado Recovery

West Liberty Tornado Recovery
Project City:
West Liberty,
Project State:
KY
Project Year:
(2013)
In 2012, West Liberty, Kentucky was literally destroyed by a series of E-3 tornadoes. It was left “virtually unrecognizable” with six deaths and 75 injuries as winds of greater than ...
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Mid River Terminal

Mid River Terminal
Project City:
Osceola,
Project State:
AR
Project Year:
(2014)
New Markets Tax Credits are helping to revive a rural community in Northeastern Arkansas, providing the necessary capital for a highly distressed river town to turn the corner. Osceola, Arkansas, ...
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Tulare Youth Service Bureau

Tulare Youth Service Bureau
Project City:
Tulare,
Project State:
CA
Project Year:
(2007)
Tulare Youth Service Bureau (TYSB) opened in 1971 as a "drop-in center" for at risk youth. Originally named, Operation Helping Hand, in its first decade, TYSB expanded to provide services ...
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Kalispel Tribe Wastewater Treatment and Buffalo Preserve

Kalispel Tribe Wastewater Treatment and Buffalo Preserve
Project City:
Usk,
Project State:
WA
Project Year:
(2014)
The new facility provides immediate cost savings and prevents emergency overflows and environmental contamination. Additionally, with the modern facility in place, the Tribe can continue the growth and development of ...
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Mannington Mills

Mannington Mills
Project City:
Calhoun,
Project State:
GA
Project Year:
(2019)
Mannington Mills, Inc. specializes in manufacturing residential and commercial sheet vinyl, luxury vinyl, carpet, and laminate/hardwood flooring. The project will include acquiring and renovating a distribution center in the small ...
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Batesland Elementary School

Batesland Elementary School
Project City:
Batesland,
Project State:
SD
Project Year:
(2011)
This project has created the funding to expand and rehabilitate a second elementary school project on the Pine Ridge Indian Reservation in Batesland, South Dakota. The current Batesland school is ...
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ACT Aerospace

ACT Aerospace
Project City:
Gunnison,
Project State:
UT
Project Year:
(2016)
ACT Aerospace: ACT Aerospace is a manufacturer specializing in composite design, analysis and production for the military and commercial aerospace industries. Providing full engineering support, ACT Aerospace offers full tooling ...
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American SprialWeld Pipe Co.

American SprialWeld Pipe Co.
Project City:
Stoughton,
Project State:
MA
Project Year:
(2018)
The project involves the new construction and equipping of a $62.8M, 275,000 SF spiral welded pipe manufacturing plant in rural Paris, Texas. The project will create 150 full time jobs ...
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Our Health Community Services Complex Phase 2

Our Health Community Services Complex Phase 2
Project City:
Winchester,
Project State:
VA
Project Year:
(2008)
Description Our Health Community Services Complex Phase II involved the rehabilitation of an historic facility that expanded the provision of public and private health and social services available to residents ...
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Rural Grocery Stores

Rural Grocery Stores
Project City:
McCall,
Project State:
ID
Project Year:
(2018)
This project is the rehabilitation of two rural grocery stores located in food deserts in small towns in Idaho and Montana ...
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Meredian Bioplastics

Meredian Bioplastics
Project City:
Bainbridge,
Project State:
GA
Project Year:
(2012)
THE PROJECT: Meredian Bioplastics, Inc. (Meredian) is a green technology company that uses byproducts of the timber and agricultural industry to create bioplastics. These plastics are an environmentally friendly, biodegradable ...
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Vidalia Denim

Vidalia Denim
Project City:
Vidalia,
Project State:
LA
Project Year:
(2018)
Vidalia Mills (VM) is a startup denim manufacturer producing high-quality fabrics using sustainable and eco-friendly processes. VM is located in a Persistent Poverty County in a rural, low-income community with ...
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Red Lake Grocery

Red Lake Grocery
Project City:
Red Lake,
Project State:
MN
Project Year:
(2018)
Red Lake Inc., an economic development enterprise of the Red Lake Band of Chippewa Indians, and its subsidiary, Red Lake Retail, are building a new grocery store to better serve ...
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Eagle Railcar Services

Eagle Railcar Services
Project City:
Washington,
Project State:
IN
Project Year:
(2017)
Eagle Railcar Services acquired, remediated and renovated the former B&O Railroad Servicing facility, with 10 miles of track and 200,000 square feet of buildings located in rural Washington, Indiana (pop, ...
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Butte Ace Hardware

Butte Ace Hardware
Project City:
Butte,
Project State:
MT
Project Year:
(2018)
This rural Montana hardware store is doubling their current size by building on a former dumpsite allowing them to expand commercial goods and services offered and create accessible jobs ...
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Fry Foods

Fry Foods
Project City:
Ontario,
Project State:
OR
Project Year:
(2015)
Enhanced Community Development, Ecotrust CDE, Capital One Community Renewal Fund, and National Community Investment Fund provided a total of $20 million in NMTC financing to food manufacturer, Fry Foods (“Fry”), ...
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Delta Memorial Hospital

Delta Memorial Hospital
Project City:
Dumas,
Project State:
AR
Project Year:
(2006)
The Delta Memorial Hospital, based in Dumas, Arkansas, has a long history of providing quality health care services to residents living in rural communities, throughout the Arkansas Delta. Over time, ...
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Hitchcock’s Market

Hitchcock's Market
Project City:
Old Town,
Project State:
FL
Project Year:
(2013)
In rural Dixie County, Florida, there was only one grocery store, and its 30-year old building had become run down. With NMTC financing, Hitchcock's Market, a small regional chain, built ...
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AGCO

AGCO
Project City:
Jackson,
Project State:
MN
Project Year:
(2011)
AGCO is a leading global manufacturer of agricultural equipment, offering a full line of tractors, combines, hay tools, sprayers, and forage and tillage equipment, which are distributed in more than ...
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Aura Fabricators

Aura Fabricators
Project City:
Fergus Falls,
Project State:
MN
Project Year:
(2018)
Aura: Provided $1,865,000 loan for metal fabrication company in Fergus Falls, MN: Jasmine Sonmor founded Aura Fabricators as a college senior in 2014 and began bidding on bridge components in ...
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Jones County School

Jones County School
Project City:
Trenton,
Project State:
NC
Project Year:
(2017)
The construction of a new K-12 public school for the public school district of Jones County, North Carolina. The Jones County School District (JCSD) is constructing a new K-12 public ...
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Thomasville Regional Medical Center

Thomasville Regional Medical Center
Project City:
Thomasville,
Project State:
AL
Project Year:
(2018)
Thomasville Regional Medical Center, LLC (TRMC), in partnership with the City of Thomasville, is constructing, developing, and operating a $44.3 million, 68,320 SF new hospital in rural Thomasville, Alabama (the ...
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Cobblestone Hotel Torrington

Cobblestone Hotel Torrington
Project City:
Torrington,
Project State:
WY
Project Year:
(2018)
A rural hotel and meeting space being built on a downtown lot that has been vacant for over a decade. The project will help support local businessses and the downtown ...
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Advantage Dental

Advantage Dental
Project City:
Brookings,
Project State:
OR
Project Year:
(2013)
Advantage Dental is one of Oregon's largest dental health care providers for low-income persons within the state serving over 200,000 patients, the majority of whom qualify for public health care ...
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Baptist Leake Hospital

Baptist Leake Hospital
Project City:
Carthage,
Project State:
MS
Project Year:
(2013)
Baptist Health Systems acquired the Leake Memorial Hospital on October 1, 2011 in a transaction with the Leake County Board of Supervisors. Baptist Leake was constructed as a new hospital facility in this ...
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Laraway Youth & Family Services

Laraway Youth & Family Services
Project City:
Johnson,
Project State:
VT
Project Year:
(2011)
Vermont Rural Ventures awarded a portion of its allocation of federal New Markets Tax Credits to provide a financing to Laraway Youth and Family Services for its new, 39-acre campus ...
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Premier Technology

Premier Technology
Project City:
Blackfoot,
Project State:
ID
Project Year:
(2018)
This rural Idaho business manufacturers specialized steel components for food and energy industries and is creating both quality and accessible jobs in a small town ...
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Terra NW

Terra NW
Project City:
Anchorage,
Project State:
AK
Project Year:
(2011)
Installation & Operation of Fiber-Optic & Microwave Broadband Connection: GCI is the largest integrated telecom company in Alaska, having provided cellular service to over 100 rural communities in the past ...
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Heritage University

Heritage University
Project City:
Toppenish,
Project State:
WA
Project Year:
(2015)
Roeder & Company, LLC announces the closing of a $10 million Federal New Markets Tax Credit (NMTC) financing for Heritage University’s campus expansion in Toppenish, Washington. Roeder & Company sourced ...
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Westervelt Pellets

Westervelt Pellets
Project City:
Aliceville,
Project State:
AL
Project Year:
(2012)
The project involved the financing for construction of a new wood pellet manufacturing facility. CEI Capital Management LLC was just one contributor of NMTC to the Aliceville, Ala. wood pellet ...
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Stigler Health and Wellness

Stigler Health and Wellness
Project City:
Stigler,
Project State:
OK
Project Year:
(2008)
Stigler, Oklahoma is located in eastern rural Oklahoma with a population of 2,731 and serves as the county seat of Haskell County. In 2002, the community implemented a plan to ...
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University of Cumberland Health and Science Building

University of Cumberland Health and Science Building
Project City:
Williamsburg,
Project State:
KY
Project Year:
(2008)
The University of the Cumberlands is located in a rural area in Williamsburg, Kentucky nestled in the foothills of the Appalachian Mountains. Williamsburg is known as the Gateway to the ...
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Fort Peck Montana

Fort Peck Montana
Project City:
Poplar,
Project State:
MT
Project Year:
(2014)
Montana Community Development Corporation (Montana CDC) completed its first New Markets Tax Credit (NMTC) transaction in Indian Country to finance a new government administration building on the Fort Peck Reservation ...
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