Petoskey Plastics, Inc. Expands Recycling and Manufacturing to McKinney, Texas with HRH Community Partners
HRH Community Partners is pleased to announce that Petoskey Plastics, an environmentally focused recycler and film, bag, and resin manufacturer, has closed on $20 million in New Markets Tax Credits for the financing of a new rail-served manufacturing facility in McKinney, Texas.
“We are excited to serve the Petoskey team in their continued leadership of sustainable manufacturing, packaging and recycling of plastic and the new 154 jobs to be created in the McKinney community,” said Steven Hattier, HRH Community Partners.
Craig Hughes, also with HRH Community Partners, served as the site consultant and worked with Sue Maskaluk, Petoskey Corporate Treasurer, to negotiate and secure a local and state incentive package as well as incentive money from Genesee & Wyoming Railroad to rehabilitate the rail line and rail spur that will serve the new McKinney location.
“Petoskey recycles over 30 million pounds of plastic annually, primarily post-consumer / post-business plastic stretch wrap that would otherwise be landfilled. We have been recycling since the 1970’s.” said Sue Maskaluk. Founded in 1969, Petoskey Plastics has grown from one bag machine that converted purchased film into plastic bags into a leading environmentally focused manufacturer for a variety of industries including automotive, industrial, institutional, medical, retail, construction and home improvement.
Petoskey Plastics has facilities in Michigan, Indiana, Tennessee and Texas. Learn more at www.petoskeyplastics.com.
Commemorative Air Force
Commemorative Air Force (C.A.F.) is a veteran oriented, 501(c)3 non-profit, formed for educational & charitable purposes in 1957 to support and provide aviation education and to actively honor America’s past and present Veterans. The C.A.F. Project included the construction of a 47,000 square foot multi-purpose educational center with cutting edge classrooms, labs and technical workshops and a STEM Innovation Hangar for students to work on real life planes. David Oliver, C.A.F. Chief Operating Officer said ”the CAF and HRH partnered successfully for a $12 million New Markets Tax Credit (NMTC) deal and I believe that Steven, Robbie, & Craig pulled off a minor miracle. C.A.F. was a nontraditional candidate for an NMTC structure and HRH made it happen. Without them we’d still be $2.5M behind in funding. The road through an NMTC deal is arduous but Steven, Robbie, & Craig were there to guide us through every step. You won’t find a better team.”
The Project created educational opportunities to reach disadvantaged, at-risk students through numerous platforms and will focus on creating an aviation career driven pipeline of high school graduates with employable skills through aviation related programming in order to address an employee skills gap that is not being met through existing education or training outlets. C.A.F. will partner with numerous local area school districts to support the workforce needs of industry focused aviation and aerospace related jobs in the North Texas area. The aviation industry in the Dallas/Ft Worth area accounts for 1 in 6 jobs.
The C.A.F. Project is located in the City of Dallas’ GrowSouth economic development and community initiative focus area and the Project has been lauded by GrowSouth to kick start additional investment in the South Dallas area. Dallas Mayor Rawlings said, “I am excited and look forward to their role in helping our city grow south.”
Audubon Metals Texas LLC
Corsicana, Texas – December 21, 2020
Audubon Metals contracted with HRH Community Partners to secure $57.7 million in New Markets Tax Credit in three separate tranches for financing of a rail served facility to produce secondary aluminum alloys in CORSICANA RAIL PORT, CORSICANA, TEXAS. Audubon Metals, a subsidiary of Koch Enterprises, expanded to Texas and is completing construction on their second such facility and is expected to hire 200+ permanent jobs within the first five years of operations.
“We have expanded in Henderson, Kentucky but to meet the growing needs of key customers and relationships we’ve built, we looked for a second location with better logistics for our existing customers in Mexico,” said Jimmy Garren, Vice President of Business Development for Audubon Metals.
“When we were searching, the city made us aware the NMTC program was available for the site,” Garren said. “From that, we reached out and researched different consultants that work with companies like Audubon that have no experience with NMTCs.”
“We battled through a trying 2020 Covid-19 pandemic year and was able to successfully close three NMTC transactions for this great client. The Audubon folks were great to work with and we are fortunate to have the opportunity of working with quality clients,” said Robbie Ruminer, Managing Principal with HRH Community Partners.
Williams Sausage Company
Union City, Tennessee
$44 million in New Markets Tax Credit for financing of new food manufacturing facility Union City, TN, September 18, 2017 – The Williams Sausage Company in Union City, Tennessee has been named the Deal of the Year for the 2017 Journal of Tax Credits Industry Award. The Award honors the project that best demonstrates a well-executed vision and measurable community impact as well as showing a commitment to establishing positive change in bringing more people and places into the economic mainstream. Williams will be presented the award at the New Markets Tax Credit Industry Conference in Chicago on October 19. The project was financed with federal New Markets Tax Credits, which incentivizes private capital investment into communities that are underserved by traditional sources of capital.
“Our Team assisted Williams in assessing a potential landing spot for the new project in competing, neighboring states and if not for the New Markets Tax Credit program and the support presented by the State of Tennessee, Obion County, the City of Union City, and the Tennessee Valley Authority, Williams would not have been able to build a larger facility and hire more than 200 Tennessee employees” said Robbie Ruminer. “Obion County’s work-ready labor force and available land in the 550-acre Northwest Tennessee Regional Industrial Center located on Highway 51 were positive advantages to attracting Williams. The new Williams jobs will go a long way in restoring lost jobs in recent years from other manufacturers closed plants.” said Steven Hattier.
Craig Hughes served as the site consultant and worked with Williams through a competitive site selection process including 13 states and over 250 communities and was able to identify $19 million of financial incentives from the State of Tennessee, the City of Union City, Obion County and the Tennessee Valley Authority.
“The best is when a company that starts here grows here.” said Tennessee Governor Bill Haslam. “It’s great for the state and great for the company.”
“When it came down to trying to narrow the selection down, the state of Tennessee and Obion County came through and offered us really good incentives to keep the plant here,” Williams President Roger Williams said.
Founded in 1958 by a Tennessee family, Williams has grown from selling sausages in cloth bags out of a truck to offering link sausages, sausage patties and microwaveable breakfast sandwiches in more than 4,000 retail outlets across 20 states. The new Williams Sausage facility will produce a new breakfast sausage line and allow the company to expand into new markets.
Salem Tube a division of Tubacex
Durant, Oklahoma – January 9, 2019
$34 million in New Markets Tax Credit for financing of new steel tube manufacturing facility OKLAHOMA CITY – Governor Mary Fallin today expressed appreciation for the decision to select Durant as the site for Salem Tube’s North American headquarters and advanced manufacturing facility. The plant will contain approximately 150,000 square feet of high-tech, precision manufacturing space with corporate headquarters office space.
Robbie Ruminer, said: “Salem Tube is on-shoring manufacturing operations to the U.S. The project combines 140 high-quality, accessible manufacturing jobs and Salem Tube’s North American headquarters with managerial positions, a sales force and top executives to rural America. Salem Tube’s $40 million capital investment in the facility and an annual payroll of $8 million will be very significant and have a long lasting positive impact on the Durant community.”
“We were proud to work with a great client like Salem Tube. We looked at well over 50 existing manufacturing facilities over twelve states along the gulf coast. At the end of the day the unique requirements of Salem Tube’s manufacturing process drove the decision for a design build ground up construction development in Durant, Oklahoma.” Said Craig Hughes.
Salem Tube, Inc., a Tubacex Group company has traded on the Spanish stock exchange since 1970. A global stainless steel manufacturer, providing cold drawn stainless tubing and high nickel alloy seamless tubing, Salem tube is proud to offer the industry’s largest portfolio of high-performance tubing, corrosion-resistant alloys, as well as a commitment to delivering on short lead times and emergency projects. Salem Tube’s products are used in product applications like heat exchanger and precision equipment, in seamless or welded and redrawn form and straight lengths (up to 72 feet) or coils.
|Project Name||Location||Project Value|
|First Wave Aviation||Bristol, OK||$15M Investment|
|Spirit AeroSystems||McAlester, OK||$12M Investment|
|Komar||McAlester, OK||$6M Investment|
|Colcord Hotel||Oklahoma City, OK||$16M Investment|
|Skirvin Hotel||Oklahoma City, OK||$51.3M Investment|
|Cochran Chemical||Wewoka, OK||$7M Investment|
|Blue Wave Boats||Seminole, OK||$7M Investment|
|EagleMed||Hugo, OK||$6M Investment|
|The Tile Shop||Durant, OK||$7M Investment|
|Hilton Garden Inn and Convention Center||Lawton, OK||$23M Investment|
|Lane Frost Health and Rehabilitation Center||Hugo, OK||$15M Investment|
|American Industrial Welding Supply Company||Muskogee, OK||$5M Investment|
|Mangum Brick Company||Mangum, OK||$8M Investment|
|Griffin Food Company||Muskogee, OK||$6M Investment|
|Poteau Library||Poteau, OK||$8M Investment|
|Cook Children’s Hospital||Fort Worth, TX||$17M Investment|
|West Library Convention Center||West Liberty, KY||$16M Investment|
|Hendrick Nursing Facility||Abilene, TX||$9M Investment|
|MIA Seating||Union City, TN||$21M Investment|
|NorthCare||Oklahoma City, OK||$13M Investment|
|Sioux Chief||Kansas City, KS||$16M Investment|
|CMC||Durant, OK||$250M Investment|
|Prairie Dog||Abilene, TX||$16M Investment|
|Hendrick Hospice||Abilene, TX||$15M Investment|
|Euro Group||Paris, TN||$10M Investment|
|Williams Sausage||Union City, TN||$44M Investment|
|BrucePac||Durant, OK||$20M Investment|
|Positive Tomorrows||Oklahoma City, OK||$13M Investment|
|Western Industries||Oklahoma City, OK||$7M Investment|
|Salem Tube||Durant, OK||$34M Investment|
|American Spiral Weld||Paris, TX||$58M Investment|
|ASTEC Charter School||Oklahoma City, OK||$7M Investment|
|1st National Bank Parking Garage||Oklahoma City, OK||$25M Investment|
|KMI||Kenton, TN||$9M Investment|
|Foley Farmers Market||Foley, AL||$8M Investment|
|Blackwell Hospital||Blackwell, OK||$20M Investment|
|Stillwater Surgery Center||Stillwater, OK||$25M Investment|
|Eatery Essentials||Dallas, TX||$19M Investment|
|Steel Fab||Dallas, TX||$15M Investment|
|Parker Products||Fort Worth, TX||$20M Investment|
|JM Foods||Miami, OK||$16M Investment|
|Tiger Trucks||Poteau, OK||$12M Investment|
|Webstaurant||Durant, OK||$9M Investment|
|Cardinal Glass||Durant, OK||$60M Investment|
|Image Industries||Clarksdale, MS||$7M Investment|
|Johns Manville||Hillsboro, TX||$60M Investment|
|Lai Family Trust||Frisco, TX||$1M Investment|
|Daikin AC (Americas)||D/FW Airport, TX||$15M Investment|
|Jeld-Wen||Corsicana, TX||$5M Investment|
|The Folger Coffee Company||Sherman, TX||$5M Investment|
|Android Industries||Arlington, TX||$20M Investment|
|Sabre Industries||Alvaredo, TX||$35M Investment|
|Sabre Industries||Sioux City, IA||$47M Investment|
|Remington Solar||Garland, TX||$3M Investment|
|Ryder Trucks||Grapevine, TX||$6M Investment|
|Ryder Trucks||Saginaw, TX||$15M Investment|
|USAA||Wilmer, TX||$20M Investment|
|Siemens Corporation||D/FW Airport, TX||$14M Investment|
|Siemens Corporation||Irving, TX||$10M Investment|
|Luke’s Locker||Dallas, TX||$3M Investment|
|Kennedale Town Center||Kennedale, TX||$15M Investment|
|Sikorsky Aircraft Corporation||D/FW Airport, TX||$18M Investment|
|Pratt & Whitney Corporation||D/FW Airport, TX||$24M Investment|
|Discount Tire||Grand Prairie, TX||$20M Investment|