Rural Manufacturers Find Growth Financing Through Federal Program

Rural manufacturers often have unique challenges to growth, including low density of investors, limited availability of credit, the seasonal nature of employment, and geographic isolation. There is a program designed to help overcome these challenges: the federal New Markets Tax Credit program.

This program, in existence since 2000, is attracting capital to thousands of companies, especially in rural pockets of America, so they may acquire property, build plants and retrofit out-of-date facilities with new technologies. In the process, these manufacturers are not only growing their businesses, they are also contributing to empowering and revitalizing local communities.

On the surface there seems to be little in common among manufacturers that produce cutting edge wound care products, manufacture oversized architectural glass panes for commercial use, or shell enough tons of peanuts to meet global supply demands. Yet dig a little deeper and you’ll find that these companies share commitment to quality, to growth, to its employees and to the rural communities they call home.

Read the full article at Industry Today.