Over 40 years, Viracon grew from a start-up Minnesota manufacturer to a producer of attractive, energy-efficient specialty glass for skyscrapers across the world.
In 2013, the company reinvested in the Owatonna plant where they started, a rural Minnesota location that qualified for financing under the federal New Markets Tax Credit (NMTC) program. The program directs new investment toward low-income areas by providing a federal income tax credit to the investor.
As an Allocatee under the NMTC program, MMCDC provided a low-cost $14.4 million financing package for Viracon’s new 650-foot production line. The result is preservation of global competitiveness for the company and of 800 living-wage jobs for U.S. workers.
