Dearborn Business Expansion Expected to Retain and Create Hundreds of Jobs
FOR IMMEDIATE RELEASE October 25, 2024
LANSING, Mich. – Hollingsworth Logistics Group, LLC (Hollingsworth), a Native American-owned company providing logistics services for sectors including aerospace, automotive, and food and beverage, has received New Markets Tax Credit (NMTC) allocations from Michigan Community Capital (MCC), Invest Detroit, and U.S. Bancorp Impact Finance to support its expansion. The project includes the acquisition and rehabilitation of a 100-year-old building located at 14225 W. Warren Avenue in Dearborn.
The acquired 864,000-square-foot building will serve as Hollingsworth’s headquarters, featuring a company warehouse and offices. Planned upgrades include the replacement of all major building systems (HVAC, plumbing, roof, elevators), new windows, a façade rebuild, and the reconfiguration and expansion of the shipping and receiving dock doors. The first phase of the project is expected to exceed $24 million, improving the operational efficiency of the company.
The project is set to create approximately 265 jobs over a ten-year period and retain more than 700 full-time positions in a highly distressed census tract with a poverty rate of 34.4% and an unemployment rate of 1.5 times the national average. Job roles will include entry-level packagers, inventory control specialists, operation support team members, and corporate office personnel. Comprehensive benefits include medical insurance, a 401(k) plan with up to a 5% match, paid time off, and personal career coaching. Notably, 76% of the jobs will be accessible to individuals without a four-year degree.
“Hollingsworth has always invested in and supported the communities we operate in. With over 30 years of history in Dearborn, we are proud to continue this philosophy not only through financial investment, but by providing hundreds of jobs for families and giving back in any way we can,” said Michael McNamara, president of Hollingsworth Logistics Group, LLC.
Michigan Community Capital contributed $10 million in NMTC allocation to support the expansion.
“We are excited to partner with a company that understands the value of training and career advancement, a company investing in its people and the community of Dearborn,” said Eric Hanna, president and CEO at Michigan Community Capital.
Invest Detroit also provided $10 million in NMTC allocation for the project.
“Helping Hollingsworth stay rooted in a neighborhood that serves as a nexus of culture, multilingual communities, and a gateway between Detroit and Dearborn demonstrates the critical role New Market Tax Credits play in our development ecosystem,” said Marcia Ventura, senior vice president of lending at Invest Detroit. “Hollingsworth’s commitment to fostering an inclusive work environment—respecting local faith communities, offering language assistance, and providing career opportunities with a living wage—makes us proud to support the capital that keeps this business thriving locally.”
U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, is the NMTC investor in the project and provided $3.25 million in allocation.
“We’re pleased to serve as the NMTC investor and help bring tangible impact to the Dearborn community,” said Tom Oldenburg, senior vice president of business development for Impact Finance. “We believe everyone deserves to live in a thriving community with access to opportunity and are excited about the number of jobs the expansion is expected to create.”
“The restoration of the historic Albert Kahn-designed building will serve as both a revitalization of a Dearborn landmark and a catalyst for economic growth. Hollingsworth’s expansion will create hundreds of jobs and preserve over 700 positions, driving significant opportunity in downtown east Dearborn,” said State Representative Alabas Farhat (D-Dearborn).
The expansion aligns with the Dearborn 2030 Master Plan and includes placemaking and public safety enhancements, supporting the City of Dearborn’s broader Warren Avenue Corridor Improvement Project. Hollingsworth will collaborate with the City of Dearborn and Wayne County to add a stoplight and crosswalk on Warren Avenue, improving safety for employees walking to and from work and increasing foot traffic for surrounding businesses.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in four key areas: Real Estate Development, CDFI lending, New Markets Tax Credits, and affordable Property Insurance. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.3 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. michigancommunitycapital.org
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We are pleased to announce that Michigan Community Capital has received a $65-Million New Markets Tax Credit allocation from the US Department of Treasury CDFI Fund!
This is the 6th consecutive award MCC received from the CDFI Fund and the 4th consecutive year MCC has received the highest amount allocated.
This award will be deployed into transformational community and economic development projects around the state. Our top priority projects include:
Creating or expanding healthy food access
Developing mixed-use, mixed-income housing in low-income areas of opportunity
Creating quality and accessible jobs through manufacturing or community-based projects
Supporting skilled training programs and/or expanding services for low-income families
Competition for these credits continues to be fierce, and the CDFI Fund has recently tightened deployment criteria. This award was made possible in no small part by partners at SB Friedman Development Advisors, Michigan Department of Labor and Economic Opportunity, Michigan Economic Development Corporation, and Michigan State Housing Development Authority.
Thank you to our partners for your continued support of MCC.
Click here to explore developments that have received NMTC investments from Michigan Community Capital.
Alpena and Clare soon to welcome ALDI Grocery Stores
FOR IMMEDIATE RELEASE
March 18, 2024
LANSING, Mich. – ALDI is investing approximately $9.9 million to bring two new locations to rural communities in Michigan. ALDI will build and equip the two new stand-alone grocery stores in rural Michigan communities that together, will comprise approximately 42,900 square feet of space and feature a range of products including fresh meat and seafood, organic produce, and pantry essentials. The developments are being supported with an $8-million New Markets Tax Credit allocation from Michigan Community Capital.
ALDI is one of America’s fastest growing retailers and offers shoppers groceries at everyday low prices in more than 2,300 stores in 38 states. ALDI focuses on the groceries commonly purchased by shoppers, primarily under its exclusive brands, and is committed to providing customers with the highest quality products at the lowest possible prices. ALDI strives to reduce the company’s impact on the environment through an energy efficient store design, including state-of-the-art lighting and refrigeration systems that have reduced energy features and environmentally friendly building materials.
ALDI will bring grocery stores to Alpena and Clare, both rural Michigan communities where increased affordable, fresh food is greatly needed. Approximately 20 new full-time equivalent positions will be created to support the new stores. All positions will be accessible to individuals without a four-year degree and will provide industry-leading benefits including competitive wages, health insurance, 401(k) program and paid time off.
“Michigan Community Capital is committed to leveraging our tools to bring healthy fresh food to underserved communities in Michigan,” said Eric Hanna, president and CEO at Michigan Community Capital. “Alpena and Clare have both identified bringing more grocery options to their community as a high priority, and we are proud to partner with ALDI as they expand their footprint into Michigan rural markets.”
New Markets Tax Credits are a federal subsidy tool administered by the U.S Department of Treasury and designed to attract capital to projects that support low- and moderate-income households and communities. Michigan Community Capital (MCC) is the only Community Development Entity (CDE) that deploys this resource entirely in the state of Michigan. Since the organization’s formation in 2005, MCC has secured a total of $445 million in tax credit allocation through competitive rounds to support Michigan businesses and communities. MCC uses NMTC’s to support job creation, access to healthy food, and mixed-use projects that include mixed-income housing and commercial businesses that benefit low-income households.
U.S. Bancorp Community Development Corporation is serving as the New Markets Tax Credit investor on this project.
About ALDI
ALDI is one of America’s fastest-growing retailers, serving millions of customers across the country each month. Our disciplined approach to operating with simplicity and efficiency gives our customers great products at the lowest possible prices. For seven years running, ALDI has been recognized by the dunnhumby Retailer Preference Index as #1 in Everyday Low Price.* ALDI strives to have a positive impact on its customers, employees and communities by being socially and environmentally responsible, earning ALDI recognition as a leading grocer in sustainability.** In addition to helping protect the planet, ALDI helps customers save time and money through convenient shopping options via in-store, curbside pickup or delivery at shop.aldi.us. For more information about ALDI, visit aldi.us.
**According to Progressive Grocer’s 2023 Top 10 Most Sustainable Grocers list.
About Michigan Community Capital
Michigan Community Capital (MCC) is a non-profit diversified public-private partnership that supports the missions of the Michigan Economic Development Corporation (MEDC) and the Michigan State Housing Development Authority (MSHDA) by aggregating capital and facilitating the financing and development of low-income and attainable housing, and the redevelopment of complex brownfield sites within the State of Michigan. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and the only Community Development Entity (CDE) that deploys this resource solely throughout the entire State of Michigan. Since 2005, MCC has supported over $1.3 billion in project financing, successfully attracted $445 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units, 4.3 million square feet of commercial, retail and industrial space to facilitate job creation and expansion and has insured over 22,000 affordable multifamily doors. MCC drives community development impacts in four key areas: Real Estate Development, CDFI lending, New Markets Tax Credits, and affordable Property Insurance. michigancommunitycapital.org
