What is the Swiss Krono USA expansion project?

Swiss Krono USA completed a $230 million, 250,000-square-foot expansion of its existing manufacturing facility in Barnwell, South Carolina. The expansion includes a new high-density fiberboard (HDF) mill and expanded laminate flooring production capability, creating over 100 jobs in the rural community.

How was the Swiss Krono expansion financed?

The expansion received $45.3 million in New Markets Tax Credit (NMTC) financing from four Community Development Entities: National New Markets Fund ($17 million), The Innovate Fund ($11.25 million), Dakotas America ($10 million), and SunTrust ($7 million).

What does Swiss Krono manufacture?

Swiss Krono USA manufactures laminate flooring, medium-density fiberboard (MDF), and high-density fiberboard (HDF) at its Barnwell, South Carolina facility. They are one of the world's leading manufacturers of wood-based materials.

What is Swiss Krono Group's total investment in Barnwell?

Swiss Krono Group has made nearly a half-billion-dollar ($430 million) investment in the Barnwell community since first establishing operations there, demonstrating their long-term commitment to rural South Carolina economic development.

Mark O'Meara is a Senior Copy Editor at Novogradac & Company LLP and contributor to the Novogradac Journal of Tax Credits. He is based in Larkspur, California, and is a University of Oregon alumnus specializing in community development finance journalism.

February 7, 2019

With NNMF Financing, Swiss Company Continues to Invest in Rural South Carolina

NNMF provides NMTC financing for expansion of Swiss Krono manufacturing facility, expected to create over 100 jobs.

Mark O’Meara profiles NNMF’s investment in Swiss Krono USA, which expanded the manufacturing company’s Barnwell, South Carolina facility by 250,000 square feet. To read the full article, visit Novogradac Journal of Tax Credits.

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With NNMF Financing, Swiss Company Continues to Invest in Rural South Carolina

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