Rhino Health USA, Inc. Closes $58 million New Markets Tax Credit Financing
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Friday, July 29, 2022
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Fort Worth-based Rhino Health USA, Inc. today announced the closing of a $58 million New Markets Tax Credit (NMTC) transaction that will help fund the companys $200 million investment for its large-scale manufacturing expansion in North Texas.
Key Points:
- Fort Worth-based Rhino Health USA, Inc. today announced the closing of a $58 million New Markets Tax Credit (NMTC) transaction that will help fund the companys $200 million investment for its large-scale manufacturing expansion in North Texas.
- We are pleased to close on this important tax credit transaction that will allow us to fully build-out our Fort Worth expansion, said Mark Lee, CEO of Rhino Health USA, Inc.
- U.S. Bancorp Community Development Corporation, the community investment and tax credit division of U.S. Bank, is participating as the NMTC investor.
- About the New Markets Tax Credit Program: The New Markets Tax Credit (NMTC) program was established by Congress in 2000 and incentivizes community development and economic growth through the use of Federal tax credits that attract private investment to distressed communities.