Minnesota Data and Stories

State Fact Sheet

Map of Selected Projects in Minnesota

Community Testimonials

The NMTC program requires tangible and measurable outcomes for the communities where it is invested.

-Tracy Hubbard, Bremer Bank

Selected Projects in Minnesota

Birds Eye Peas

Waseca,
MN
(2021)

Food Manufacturing

CDE(s): CRFUSA, Midwest Minnesota CDC, Waveland Community Development

Financing for a rural manufacturing/production facility that processes and packages pea for national distribution.

Village on Rivoli

Saint Paul,
MN
(2021)

Affordable Housing

CDE(s): Community Housing Capital

Housing Project in Dayton’s Bluff neighborhood. Dayton’s Bluff Neighborhood Housing Services. A $7 million allocation will enable infrastructure on 32 lots and will rehab and construct 15 homes with 80%

Ogaakaaning Wild Rice

Bemidji,
MN
(2021)

Food Manufacturing, Manufacturing, Timber and Agriculture

CDE(s): Travois, USBCDE

Red Lake Inc., an economic development enterprise of the Red Lake Band of Chippewa Indians, and its subsidiary, Ogaakaaning Wild Rice LLC, expanded its wild rice business to better serve

Vortex Cold Storage

Albert Lea,
MN
(2021)

Business Development, Food Manufacturing, Manufacturing, Rural, Warehouse and Wholesale

CDE(s): Midwest Minnesota CDC

Development of a state-of-the-art temperature-controlled warehousing to support Agribusiness and Food Distribution business supply chains in the Southern Minnesota and Northern Iowa regions.

Vomela Specialty Company

Saint Paul,
MN
(2020)

Energy, Manufacturing, Solar

CDE(s): Midwest Minnesota CDC

Financing for the installation of 1 megawatt of solar panels and purchasing various furniture, fixtures and equipment at Vomela's new 300,000 sq. ft. headquarters in Saint Paul, MN.

Hmong American Partnership

Saint Paul,
MN
(2020)

Adult Education, College or Vocational Training, Community, Daycare and Early Childhood, Healthcare, Mixed-use, Nonprofit Hub, Schools, Youth and Families

CDE(s): USBCDE

The acquisition of a renovated 32,000 square foot building that now houses educational and job training programs sponsored by Hmong American Partnership.

Catholic Charities of St. Paul and Minneapolis: Exodus 2.0 Project

Minneapolis,
MN
(2020)

Behavioral Health, Community, FQHCs, Healthcare, Historic Rehabilitation, Hospitals and Emergency Services, Housing, Mixed-use, Nonprofit Hub, Shelters and Community Food, Supportive Housing, Veterans Services

CDE(s): Corporation for Supportive Housing, University Financial Corp., USBCDE

Rehabilitation of a building for the development of a mixed-use project to include medical respite, transitional housing, healthcare, and social services for the homeless.

Voyager Industries

Pine River,
MN
(2020)

Business Development, Manufacturing, Rural

CDE(s): Midwest Minnesota CDC

The NMTC financing for construction and other project costs associated with a 23,040 SF manufacturing facility, 7,800 SF warehouse and improvements/upgrades to an existing 4,000 SF building located in Pine

Mercury Mosaics and Tile

Wadena,
MN
(2020)

Business Development, Manufacturing, Rural

CDE(s): Midwest Minnesota CDC

The NMTC loan proceeds will be utilized to complete tenant improvements at an existing 19,200 sq. ft. warehouse building in Wadena, MN, purchase equipment, and provide working capital.

The Wycliff

Saint Paul,
MN
(2020)

Business Development, Community, COVID-19, Disaster Recovery, Food Manufacturing, Incubator, Makerspace, Manufacturing, Parks and Forests, Retail

CDE(s): University Financial Corp.

The Wycliff’s project goals were strongly geared toward providing for small businesses and growing jobs, bringing over 500 permanent jobs to the Midway community. Evenwhile the 2020 COVID19 pandemic brought

Neighborhood Development Center

Saint Paul,
MN
(2020)

Business Development, Community, Incubator, Manufacturing

CDE(s): Midwest Minnesota CDC, University Financial Corp.

The construction of an appoximately 19,820 sq. ft. building for use serving low-income entrepreneurs as a small business incubator and entrepreneur training center in Saint Paul, MN.

The Family Partnership

Minneapolis,
MN
(2020)

Community, Daycare and Early Childhood, FQHCs, Healthcare, Youth and Families

CDE(s): Midwest Minnesota CDC, University Financial Corp.

Partial demolition, renovation, and a two-story addition to an existing commercial building.

Site visits and recent news related to Minnesota NMTC Projects

NMTC financed V3 Sports to celebrate grand opening in north Minneapolis

June 21, 2024

Historic Coliseum Building reopens after four-year restoration

June 19, 2024

Make the New Markets Tax Credit permanent

June 10, 2024