FOREST CITY, Iowa, April 3, 2025 /PRNewswire/ — Rural Development Partners (RDP) awarded $19.5 million in New Markets Tax Credit (NMTC) financing to Potters Industries, LLC, a manufacturer of glass beads specializing in retroreflective highway safety products. The rural community of Wilson (NC) was devastated by the closure of a local manufacturing plant in 2023, losing many jobs and economic opportunities. NMTC financing will help expedite the site acquisition and purchase of capital equipment and inventory essential for accelerating the creation of jobs and economic recovery. Wilson Economic Development Council Director, Jennifer Lantz shared, “We are thrilled to have Potters as our newest industry. We are excited to see the former Ardagh facility back in use and welcome the opportunity to work with them (Potters) going forward.”
“RDP is proud to be a part of the Potters expansion into Wilson, NC. Their presence will have an immediate impact on the Community and bring a large number of high-quality jobs for its residents and the surrounding area.” – Dan Helgeson, Rural Development Partners CEO
The allocation is part of a $44.5 million NMTC package with Midwest Renewable Capital ($13 million) and Community Business Investment ($12 million), creating 43 jobs in its first year of operation and up to 123 when the plant is operating at capacity. The direct jobs (96% low-income accessible) spur catalytic economic impact and opportunities vital for underserved rural regions. The acquired 548,570 SF facility is also a good strategic location for Potters as they work to maximize service and efficiency for their growing customer base and product demand in the Southeast United States.
“We are very pleased and excited to be partnering with Rural Development Partners as we continue to make major investments in the facility and community of Wilson, North Carolina.” – Scott Randolph, Potters Industries CEO
Potters Industries
Potters’ roots trace back to 1914 when Rudolph Potters invented a unique way to manufacture glass beads. Potters is a recognized leader in glass microspheres used to make roads safer and improve industrial and consumer products, meeting stringent safety rules and regulations that require retro reflectivity. Their products can be found throughout the world on roadways, guardrails, airport runways, taxiways, and so much more. A majority of Potters engineered glass is manufactured from post-industrial recycled glass, including internally created glass waste from their production. Potters has been influential in the development of highway safety, Federal Aviation Administration policy, and Department of Defense legislation, and remains a valuable resource for federal, state, and municipal authorities.
Rural Development Partners LLC
Rural Development Partners is a Community Development Entity with a national service area eligible to apply for an annual allocation of Federal New Markets Tax Credits. From 2004 through 2024, RDP has won thirteen NMTC awards from the US Treasury totaling $816.7 million. Funding has helped over 50 businesses and nonprofits expand to provide quality jobs, economic impacts, and healthy food access in underserved communities. RDP seeks to serve and partner with businesses, non-profits, communities, and government entities that share its mission to build public-private partnerships for catalytic job growth in rural America. Learn more about RDP and the NMTC program by visiting our website or social media platforms at Facebook, LinkedIn, and YouTube.
Media Contact: Rural Development Partners [email protected]
SOURCE Rural Development Partners
