A food manufacturing company contacted Baker Tilly Capital to assist with completing the capital stack for a $38 million expansion to an existing company production facility. The expansion was significant for the company and necessary to meet customer demand and maintain market share. In order to finance the expansion, the company required significant financial assistance to address a financing gap.
Baker Tilly worked with the company to identify government tax credit and incentive programs available to the project based on $38 million of capital expenditures and the creation of 50 new jobs. With a strategy to pursue available government programs, Baker Tilly helped the client compete for New Markets Tax Credits and negotiate state tax credit incentives. Baker Tilly’s involvement included not only identifying and securing the incentive funds, but also structuring the complete capital stack to integrate all sources of funding.
With Baker Tilly’s assistance, the company received over $6 million of financial assistance to fill the project’s financing gap.