Roeder & Company, LLC announces the closing of a federal New Markets Tax Credits (NMTCs) financing for Swanson Group, Inc. (“Swanson”) headquartered in Glendale, Oregon. Roeder & Company sourced $19 million in Federal NMTC allocation from Empowerment Reinvestment Fund, Greenline Community Ventures, and Capital One N.A. for the financing of equipment and inventory at its locations in Glendale, Roseburg and Springfield, OR. Capital One N.A. provided the tax credit equity for the transaction.
In July of 2014, Swanson’s plywood and veneer plant in Springfield was destroyed by a fire that displaced 250 workers. Swanson is in the process of rebuilding the plant and incorporating new technologies. Upon completion, the new plant will produce and merchandise veneer produced from logs sourced from private, State and Federal forests. In addition, the plant will manufacture an array of premium plywood products including medium- and high-density overlays, hardwoods, sanded siding and industrial grade panels. The new plant will cost approximately $80 million, and the NMTC financing will enable Swanson to purchase vital equipment that is essential for preparing high-quality cost-competitive plywood products.
A portion of the NMTC financing proceeds will be used for acquiring logs for its mills and plants in Glendale and Roseburg. The below-market NMTC financing terms enable Swanson to realize savings and stabilize operations following years of financial strain caused by the Springfield fire.
“The new Springfield mill will be the most technologically advanced plywood plant in North America. It will also create skilled jobs and it will be a boon to the local economy,” said Steve Swanson, Swanson Group, Inc. CEO.
“Nearly half the state of Oregon is forested. The forest sector remains a resilient and vital contributor to the state’s economy, especially in rural communities,” said Reynold Roeder, CEO of Roeder & Company, LLC. “This NMTC financing will enable Swanson to emerge from this tragic fire as a stable business and continue its investment in Oregon’s low-income communities.”
For more information on Swanson Group, Inc, please visit http://www.swansongroup.biz/.
In July of 2014, Swanson’s plywood and veneer plant in Springfield was destroyed by a fire that displaced 250 workers. Swanson is in the process of rebuilding the plant and incorporating new technologies. Upon completion, the new plant will produce and merchandise veneer produced from logs sourced from private, State and Federal forests. In addition, the plant will manufacture an array of premium plywood products including medium- and high-density overlays, hardwoods, sanded siding and industrial grade panels. The new plant will cost approximately $80 million, and the NMTC financing will enable Swanson to purchase vital equipment that is essential for preparing high-quality cost-competitive plywood products.
A portion of the NMTC financing proceeds will be used for acquiring logs for its mills and plants in Glendale and Roseburg. The below-market NMTC financing terms enable Swanson to realize savings and stabilize operations following years of financial strain caused by the Springfield fire.
“The new Springfield mill will be the most technologically advanced plywood plant in North America. It will also create skilled jobs and it will be a boon to the local economy,” said Steve Swanson, Swanson Group, Inc. CEO.
“Nearly half the state of Oregon is forested. The forest sector remains a resilient and vital contributor to the state’s economy, especially in rural communities,” said Reynold Roeder, CEO of Roeder & Company, LLC. “This NMTC financing will enable Swanson to emerge from this tragic fire as a stable business and continue its investment in Oregon’s low-income communities.”
For more information on Swanson Group, Inc, please visit http://www.swansongroup.biz/.
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