Completed Projects
Project Tramont Manufacturing
The Project:
The project pursued a $10 million NMTC allocation to expand its operations inside the 175,000-sf facility they purchased out of bankruptcy. The company keep all existing employees on the payroll while the new owners searched for new business. Over 80 jobs were retained at the time, with Tramont subsequently expanding to over 100 jobs. The NMTC allowed Tramont to refinance its existing debt, expand its operations and help increase employment opportunities.
Total Project Costs $10,000,000
FIRE NMTC Allocation $10,000,000
NMTC Investor US Bank CDC
Closing Date December 2016
Distress Criteria
Community Impacts
Jobs:
The project retained 80 permanent jobs and added about 100 new jobs, all of which are considered quality jobs.
FIRE welcomes requests for NMTC’s throughout the year as we work to maintain an active pipeline of viable and potential projects throughout the region.