RoyOMartin, a provider of plywoods, timbers and boards, is underway on $115 million manufacturing expansion project in Corrigan, about 100 miles northeast of Houston. The project involves the construction of a 370,400-square-foot facility that will complement RoyOMartin’s existing, 407,125-square-foot plant. The new facility is expected to account for the creation of about 120 new jobs and to increase RoyOMartin’s total production capacity across its 150-acre campus by 70 percent.
The expansion is being backed in part by $28.5 million in New Markets Tax Credit financing, a project expected to help preserve and grow jobs in Polk County.
National New Markets Fund, an affiliate of SDS Capital Group, announced this week that it had committed the financing to support the construction of the new facility. National New Markets Fund focuses its investments on manufacturing, processing and agricultural businesses in low-income communities.
The project will retain 200 full-time jobs and create 123 new full-time positions.
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