New Markets Tax Credit Bridges Critical Capital Need
CLEAR LAKE, Iowa, May 21, 2026 /PRNewswire/ — Rural Development Partners is pleased to announce their partnership with PackEx USA, an innovative start-up company in Marianna, Florida, inspired to address a critical gap in sustainable bottling while creating jobs and economic opportunity for a region devastated by hurricane. Rural Development Partners allocated $20 million in New Markets Tax Credit (NMTC) financing alongside River Gorge Capital ($12 million), HEDC New Markets ($10 million), Truist (Investor), and Lone Star Project Advisors (Consultant). The investment will help expedite recovery in a community with urgent need for stable, well-paying employment opportunities and an economic boost.
“Rural Development Partners is excited to join forces with PackEx to bring impactful jobs and economic security to this region. We look forward to a successful, ongoing partnership that strengthens the community for years to come.” – Dan Helgeson, CEO of Rural Development Partners
In 2018, the aftermath of Hurricane Michael left catastrophic damage displacing thousands from their homes, 5,500 jobs lost, and an estimated $38 billion in economic damage across the Florida panhandle. Millions of acres in timberland were stripped, shuttering the timber and papermill industries; a backbone for regional agriculture. The community has struggled to attract industries able to rebuild their economic base leaving an urgent need for more sustainable, forward-thinking manufacturing solutions.
PackEx is working to redevelop a 256,000 SF state-of-the-art industrial facility, formerly a water bottling plant that ceased operations following Hurricane Michael. The current Phase 1 of construction will support the development of two production lines, creating approximately 300 quality full-time jobs. Two additional phases are projected to create four additional lines that support more than 600 employees; providing the quality, accessible jobs this community needs.
“PackEx was founded on a clear vision: to become a leader in sustainable manufacturing. Guided by this goal, we set out to develop an aluminum-only bottling facility built with some of the most environmentally responsible processing capabilities in the industry. Our innovative business model has earned strong support from both the community and our customers, underscoring the growing demand for sustainable packaging solutions. Today, with the support of New Market Tax Credit funding, bridging critical capital needs, we are proud to bring this vision to life in Marianna”. – Mahmoud Amrouch, Chairman of PackEx
PackEx USA
PackEx, built on a foundation of innovation and consistent quality, is redefining the beverage industry with premium, all-aluminum bottling and filling solutions designed to meet today’s beverage challenges. PackEx is strategically located in Marianna, Florida, equipped with cutting-edge technology and flexible processes that allow them to serve a wide variety of beverage categories across the United States.
Rural Development Partners LLC
Rural Development Partners (RDP) 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 2025, RDP has won fourteen NMTC awards from the US Treasury totaling $906.7 million. Funding has helped 58 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.
Contact: info@rdpimpact.com
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SOURCE Rural Development Partners
