National New Markets Fund (NNMF) has invested $28.5 million of its New Markets Tax Credit allocation to support a $115.1 million expansion of RoyOMartin's manufacturing operations in Corrigan, Texas. The project will retain 200 full-time jobs and create 123 new positions at the existing 407,125-square-foot oriented strand board plant. The financing was announced by NNMF, an affiliate of Los Angeles-based SDS Capital Group.
The new 370,400-square-foot specialty facility is currently under construction on the company's existing 150-acre campus and will increase total production capacity by 70%.
The New Markets Tax Credit program has generated $76 billion in qualified equity investment and $143 billion in total development financing to more than 8,900 businesses nationwide since its creation in 2000.
Founded in 1923, RoyOMartin is a premier manufacturer of wood products in the Gulf South and manages 550,000 acres of certified timberland.
