CDI began as a home-based business. After three decades, it occupied its own manufacturing plant and three off-site warehouses, and was still growing.
The founders desperately needed a new, customized facility and financing to match.
“It was a ‘go or no-go’ situation,” said CEO Tom Peterson, who started the business with his wife, Sue. He credited the federal New Markets Tax Credit program with providing the low-down-payment and attractive repayment terms the business needed to grow in its small, rural community.
MMCDC contributed a portion of its tax credit allocation, familiarized CDI with the program, and coordinated a group of other tax credit lenders, who met much of the remaining capital need.
CDI’s desiccant dehumidifiers and air handlers are used in flood recovery efforts to reduce drying time, cut costs and help people return to their communities faster. The technology also creates suitably dry environments for battery manufacturers, surgical suites, food processors, zoos and more worldwide.
