SECDE closes on tax credits for Resinall plant
by MBJ Staff
Published: November 16,2011
MADISON and HATTIESBURG — SECDE Ventures, LLC has closed on New Markets Tax Credit (NMTC) financing of $18 million for construction of Resinall Mississippi’s new hydrogenated hydrocarbon resin unit at its manufacturing facility in Hattiesburg.
SECDE combined $12 million of its NMTC allocation with $6 million of NMTC allocation from MuniStrategies and $15 million of bond proceeds from Mississippi Business Finance Corporation (MBFC) to facilitate the completion of this facility expansion for Resinall. In addition to SECDE, MuniStrategies and MBFC, participating Mississippi firms include Trustmark National Bank, Government Consultants, Equity Plus, LLC, Balch & Bingham, LLP (Jackson office), Jones Walker (formerly Watkins Ludlam) and Butler Snow, O’Mara, Stevens & Cannada, PLLC.
By shifting into this new market and as a result of the NMTC financing, Resinall will preserve 125 manufacturing jobs and create 10 to 20 new positions in order to supply a portion of the increasing demand for hydrogenated tackifier resins (HTR).
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