NMTC Success Stories: Jones Lumber in Natchez, Mississippi
Renaissance Community Loan Fund is a recipient of New Market Tax Credits, a federal program designed to provide capital investments in projects that meet an economic need in underserved communities. Jones Lumber in Natchez, Mississippi, worked with Renaissance to receive NMTC funds.
NMTC Project Qualifications
The project expands the Jones Lumber mill so that it may run 24 hours a day, resulting in not only retaining existing jobs but creating additional full-time permanent jobs with good wages, benefits, and training. This project received overwhelming support from the local community and throughout the state.
Project Results
The NMTC allocation funded:
- The acquisition and renovation of the 200,000 SF existing lumber mill plus 75,000 SF of other buildings
- Construction of 50,000 SF of warehouse and dry kiln space
- Acquisition of manufacturing and other equipment
- Addition of 40 new full-time employment opportunities
Keep up with Jones Lumber: jmjoneslumber.com
Do you have a project in Mississippi that may qualify for NMTC credits? Learn more about the program and submit a project qualification form below.
