Discover Central States Development Partners, Inc.
Central States Development Partners, Inc. (Central States) is a national Community Development Entity (CDE), that stimulates economic growth and empowers private-sector investment in distressed communities through strategic deployment of New Markets Tax Credit (NMTC). Formed by its parent non-profit, Economic Growth Corporation (GROWTH), Central States furthers GROWTH's mission by assisting economically distressed communities by providing capital to support lasting job creation and expand access to critical healthcare and social services.
Central States has secured a total of eight federal NMTC allocations, recently awarded $75 million in NMTC authority by the U.S. Treasury's CDFI Fund, previously receiving $270 million in federal NMTC allocation, along with state allocations from Illinois, Nevada, Kentucky, and Maine. Combined, Central States has deployed $334 million in federal and state NMTCs to support large-scale developments that expand industrial and manufacturing capacity, improve healthcare access, and deliver vital community services.
Working alongside other non-affiliated CDEs, Central States has helped generate over $1.4 billion in total project costs, supported the creation and retention of more than 21,564 jobs across 15 states, and provided critical services to over 203,300 low-income individuals and residents of low-income communities. These investments fuel economic development and strengthen communities.
Central States has secured a total of eight federal NMTC allocations, recently awarded $75 million in NMTC authority by the U.S. Treasury's CDFI Fund, previously receiving $270 million in federal NMTC allocation, along with state allocations from Illinois, Nevada, Kentucky, and Maine. Combined, Central States has deployed $334 million in federal and state NMTCs to support large-scale developments that expand industrial and manufacturing capacity, improve healthcare access, and deliver vital community services.
Working alongside other non-affiliated CDEs, Central States has helped generate over $1.4 billion in total project costs, supported the creation and retention of more than 21,564 jobs across 15 states, and provided critical services to over 203,300 low-income individuals and residents of low-income communities. These investments fuel economic development and strengthen communities.
Impact to DateCentral States has consistently demonstrated its leadership in economic development, and has deployed a total of $334 million through of federal and state New Markets Tax Credit allocations to to date. These efforts have positively impacted over 203,300 low-income individuals and low-income community residents, fueled $1.4 billion in project investments, and supported the creation or retention of 21,564 jobs across 15 states. This track record highlights our pivotal role in driving transformative economic growth and job creation in low-income communities.
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Central States closes $13 Million to advance manufacturing and job creation for RoyOMartin in Corrigan, TX
Photos from https://royomartin.com/
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Photos from https://royomartin.com/
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Central States Development Partners CDE is pleased to announce the closing of its $13 million NMTC allocation to finance the purchase and installation of equipment and funding of working capital needs for a 407,125 square foot oriented strand board (OSB) manufacturing facility located in the rural community of Corrigan, Texas. The $153 million project will support the continued operations and equipment upgrades of RoyOMartin, a leader within the OSB manufacturing industry with over 100 years of operating experience. RoyOMartin’s operations are focused on the production of engineered wood panels used in residential and large-scale construction applications, including structural wall systems for seismic areas, sub-flooring for residential and commercial buildings, and wind bracing panels for hurricane-prone regions.
NMTC proceeds will ensure the upgraded facility is sufficiently equipped to support RoyOMartin’s new, 370,400 SF facility located on the same manufacturing site. These equipment upgrades will enable both facilities to function at full capacity and achieve optimal production levels. Upon completion, RoyOMartin’s expanded manufacturing operation will be the largest OSB manufacturing plant in North America. The investment is also expected to create 123 full-time jobs and retain 200 full-time jobs within the deeply distressed community, all of which are quality jobs offering wages above the Polk County living wage, comprehensive benefits, and training and career advancement opportunities.
The OSB manufacturing site is located in a deeply distressed, rural census tract characterized by a low median family income and high unemployment and poverty rates. As a result, the region has historically struggled to attract new employers and exhibits low levels of educational attainment. The project is expected to directly address these economic challenges and have large catalytic impacts throughout eastern Texas. According to the Texas Association of Manufacturers, each job created by the project is expected to support an additional 7.4 indirect jobs within the surrounding community, equating to a total estimate of 2,390 additional jobs. Furthermore, the Project will leverage its strong ties to the local Corrigan community to advance its workforce and community development initiatives. The Sponsor looks to expand upon many of these programs, including woodworking programs for 11th and 12th grade students, higher education scholarships for children of employees, and a range of career training and skill development opportunities available to all employees.
Brian Hollenback, of Central States Development Partners noted that, “The project is highly aligned with the goals of the Corrigan community; it not only meets needs related to accessible and quality employment, but supports development of the entire regional workforce.” Central States Development Partners is a national community development entity with 8 NMTC awards received to date. Central States Development Partners provided $13 million in allocation to complete the project funding. The Community Business Investment Fund, National New Markets Fund, Prestamos CDFI, and Texas LIC Development Company provided an additional $73.5 million in allocation to complete the project funding.
NMTC proceeds will ensure the upgraded facility is sufficiently equipped to support RoyOMartin’s new, 370,400 SF facility located on the same manufacturing site. These equipment upgrades will enable both facilities to function at full capacity and achieve optimal production levels. Upon completion, RoyOMartin’s expanded manufacturing operation will be the largest OSB manufacturing plant in North America. The investment is also expected to create 123 full-time jobs and retain 200 full-time jobs within the deeply distressed community, all of which are quality jobs offering wages above the Polk County living wage, comprehensive benefits, and training and career advancement opportunities.
The OSB manufacturing site is located in a deeply distressed, rural census tract characterized by a low median family income and high unemployment and poverty rates. As a result, the region has historically struggled to attract new employers and exhibits low levels of educational attainment. The project is expected to directly address these economic challenges and have large catalytic impacts throughout eastern Texas. According to the Texas Association of Manufacturers, each job created by the project is expected to support an additional 7.4 indirect jobs within the surrounding community, equating to a total estimate of 2,390 additional jobs. Furthermore, the Project will leverage its strong ties to the local Corrigan community to advance its workforce and community development initiatives. The Sponsor looks to expand upon many of these programs, including woodworking programs for 11th and 12th grade students, higher education scholarships for children of employees, and a range of career training and skill development opportunities available to all employees.
Brian Hollenback, of Central States Development Partners noted that, “The project is highly aligned with the goals of the Corrigan community; it not only meets needs related to accessible and quality employment, but supports development of the entire regional workforce.” Central States Development Partners is a national community development entity with 8 NMTC awards received to date. Central States Development Partners provided $13 million in allocation to complete the project funding. The Community Business Investment Fund, National New Markets Fund, Prestamos CDFI, and Texas LIC Development Company provided an additional $73.5 million in allocation to complete the project funding.
Central States Development Partners Win $75 Million New Markets Tax Credit Award
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Central States Development Partners, Inc. is proud to announce being awarded $75 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund. Central States is a national CDE that assists economically distressed communities by providing capital to support lasting job creation and expand access to critical healthcare and social services. This is Central States’ eighth NMTC allocation, having previously received $270 million in NMTC allocation.
“We are honored by CDFI Fund’s support of our work in urban and rural communities across the United States” said Brian Hollenback, President and CEO of Central States Development Partners. “This award will be used to support domestic manufacturing and reliable job-producing projects, as well as rural hospitals and essential community health infrastructure across the United States. Over the last five years, Central States has used its prior awards to support over 2,300 full-time equivalent jobs and the provision of services to over 170,000 persons, with additional community-focused outcomes. With this new allocation we hope to extend this track record, bringing more critical project funding and supporting community revitalization throughout the nation. The NMTC program was recently made a permanent part of the U.S. tax code through the One Big Beautiful Bill Act (OBBBA). On December 23, 2025, the U.S. Department of Treasury’s CDFI Fund announced that it was awarding $10 billion in allocation authority for the calendar year 2024-2025 round. This is the largest allocation in the program’s history and will stimulate economic growth and empower private-sector investment in distressed communities. Over the program’s history, over $77 billion in qualified equity investment and $143 billion in total development has been financed supporting over 8,900 businesses across urban, suburban and rural low-income communities, creating more than 1.2 million jobs nationwide. |
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Central States closes on $10 Million Federal and $10 Million Illinois State NMTC Allocation for SAL Community Services' childcare in Rock Island, Illinois.
Central States Development Partners, Inc. closed on $10 million State of Illinois NMTCs paired with $10 million federal NMTCs to support the construction of SAL Community Services’ 33,500 sq. ft. comprehensive early learning center. This $17.3M transformative project will serve 300 low-income children, triples educational capacity and expands full-time infant and toddler care, Pre-K and school-age education, and summer programming. SAL's development supports 215 jobs: 17 new, 40 retained, and 158 construction jobs. It also strengthens critical connections with Olivet Church and Friendship Manor, who will offer intergenerational care programs that build empathy, foster community, and combat social isolation.
Brian Hollenback, President/CEO, and Cindy Berg, CFO, have worked alongside SAL Community Services since 2019, to advance a vision that strengthens families and drives economic growth. SAL attended both Pitch.Connect.Fund. Development Forum's hosted by Central States to increase their knowledge on NMTCs, structure, and worked alongside the Central States team to get to this successful point that will serve as a vital piece of the communities revitalization efforts along the 11th Street corridor.
Brian Hollenback, President/CEO, and Cindy Berg, CFO, have worked alongside SAL Community Services since 2019, to advance a vision that strengthens families and drives economic growth. SAL attended both Pitch.Connect.Fund. Development Forum's hosted by Central States to increase their knowledge on NMTCs, structure, and worked alongside the Central States team to get to this successful point that will serve as a vital piece of the communities revitalization efforts along the 11th Street corridor.
Central States closes on $2.2 Million Nevada State NMTC Allocation for St. Jude's Ranch for Children's Healing Center in Boulder City, Nevada
Central States Development Partners, Inc. closed on $2.2 million in State of Nevada New Markets Tax Credits (NMTC) to help finance the Healing Center at St. Jude's Ranch for Children- the only residential treatment center in Southern Nevada for child victims of sex trafficking, and one of only a few nationwide dedicated to moving young people from victim to survivor. The Healing Center is a $30 million total project investment, creating a unique, state-of-the-art campus with a trauma-sensitive design, and offers trauma-informed care, an on-site school, and specialized treatment to heal the mind, body, and spirit.
Central States closes on $15 Million Federal NMTC Allocation for Calhoun Liberty Hospital in Blountstown, Florida
Central States Development Partners, Inc. closed on $15 million in federal New Markets Tax Credits (NMTC) to support the construction of Calhoun Liberty Hospital’s new 39,479 sq. ft. replacement facility in rural Blountstown, Florida. This modern hospital replaces CLH’s original 50-year-old building, which sustained severe damage during Hurricane Michael in 2018. Serving patients across Calhoun, Liberty, Jackson, and Gulf Counties, areas with some of Florida’s highest poverty rates, the new facility increases annual patient capacity by more than 50%, and strengthens care delivery, workforce stability, and long-term system resilience. Once fully operational, CLH will serve 23,000 unique patients annually across 39,000 visits, with nearly 80% of patients identifying as low-income individuals, and residents of low-income communities. This investment ensures access to quality healthcare, builds community resilience, and supports economic stability in one of Florida’s most underserved regions.
Central States closes on $10 Million Federal and $2.2 Million Nevada State NMTC Allocation for new youth facility in Las Vegas, Nevada
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Central States Development Partners, Inc. closed on $10 million in federal New Markets Tax Credits (NMTC), and $2.2 million in Nevada State New Market Tax Credits to finance the construction and equipping of a 33,011-square-foot Youth Development Complex located in North Las Vegas, Nevada. Situated in a severely distressed community with a 31.9% poverty rate, median family income at 53% of the area median, and unemployment 2.44 times the national rate, this facility will serve 2,395 youth—86% of whom are low-income students, 90% low-income community residents, and 64% are expected to be from single-parent households. This $21.1 million project is located near three public elementary schools and will sit on five acres of land donated by the Clark County School District, which transferred the property to the County, and then to the Shaquille O'Neal Foundation, putting the project into motion. The site will provide services for individuals from infancy through 24 years of age, through the onsite Early Childhood Development Center, Boys & Girls Club of Southern Nevada, and Communities In Schools (CIS), including the country's first CIS Alumni Center, which will serve former CIS students, helping them navigate and succeed in their personal, academic, and professional lives. The project will retain 37 full-time jobs and create 10 full-time jobs.
Central States closes on $5 Million Federal and $3 Million Kentucky State NMTC Allocation for rural, Critical Access Hospital in Russell Springs, Kentucky
Central States Development Partners, Inc. closed on $5 million in federal New Markets Tax Credits (NMTC), and $3 million in Kentucky State NMTCs, to support the expansion and rehabilitation of its current 38,000 square foot Critical Access Hospital in Russell Springs, Kentucky. Located in a rural, severely distressed community with a 25.4% poverty rate, the hospital stands as a critical healthcare provider for the region. This $27.6 million investment addresses a pressing need in a community where the resident-to-physician ratio is nearly 3,000:1, almost double the Kentucky state average of 1,550:1. The expansion is essential to meet growing demand for healthcare services and is expected to serve 19,512 unduplicated patients, with 49% anticipated to be low-income. Russell Springs Hospital ensures access to affordable, high-quality healthcare for Russell County, and the surrounding rural areas. It offers 24-hour emergency care, supports up to 25 patient beds, and provides acute care stays of up to 96 hours. Medical services include emergency medicine, family and general practice, hospitalist care, internal medicine, infusion therapy, sleep lab, wound care, pathology, radiology, and general surgery. This $27.6 million project will expand capacity, improve access to critical care, and significantly reduce the need for patients to travel long distances for treatment. In total, the project is expected to retain 242 full-time jobs, and create 26 new full-time positions, all with access to a comprehensive employee benefits package, bolstering the local economy, and reinforcing healthcare infrastructure in this severely distressed, rural area.
Central States closes on $10 Million Federal NMTC Allocation for manufacturing facility in Augusta, Georgia
Central States Development Partners, Inc. recently closed on $10 million in federal NMTC to finance the construction and equipping of a 350,000 square-foot high-pressure die-casting aluminum parts manufacturing facility for GF Casting Solutions in Augusta, Georgia, with total project costs of $225 million. Located in a deep distressed community with a 37.1% poverty rate, median family income at 57% of the area median, and unemployment 3.13 times the national rate, this facility is bringing 354 manufacturing jobs to a primarily civilian labor force. Of those jobs, 94% are accessible to low-income individuals, and 73% are accessible to residents of the low-income community. Per IndustrialArsenal.com, GF Casting's Augusta plant is set to become the first Gigacasting capable supplier in the United States of America. The factory will be supporting the North American automotive industry starting from 2026. Workforce development partnerships with local technical colleges and workforce agencies are in place to ensure long-term, continued benefits for the community. Jobs will offer competitive wages and comprehensive benefits, along with new programs including mentorship and career guidance to local youth. This project will strengthen domestic manufacturing, job creation, and expand opportunity in low-income communities.
New Market Tax Credits
The New Markets Tax Credit (NMTC) Program helps economically distressed communities attract private investment capital. This federal tax credit helps to fill project financing gaps by enabling investors to make larger investments than would otherwise be possible. Communities benefit from the jobs associated with investments in manufacturing, retail, and technology as well as greater access to housing and public facilities such as health, education, and childcare.
Through the NMTC Program, the Community Development Financial Institutions (CDFI) Fund allocates tax credit authority to Community Development Entities (CDEs) through a competitive application process. CDEs are financial intermediaries through which investment capital flows from an investor to a qualified business located in a low-income community.
Source: CDFI Fund CY 2024-2025 Award Book
Through the NMTC Program, the Community Development Financial Institutions (CDFI) Fund allocates tax credit authority to Community Development Entities (CDEs) through a competitive application process. CDEs are financial intermediaries through which investment capital flows from an investor to a qualified business located in a low-income community.
Source: CDFI Fund CY 2024-2025 Award Book
Making a Difference.See how Central States is making a difference by supporting communities through enhanced amenities, improved access to quality jobs for low-income residents, and a strengthened tax base. These efforts are driving strong economic growth and long-term prosperity for low-income communities across America. |
