Rural Development Partners Funds PackEx with $20 Million NMTC

Rural Development Partners provided $20 million in New Markets Tax Credit financing for the project, alongside River Gorge Capital with $12 million and HEDC New Markets with $10 million. Truist participated as the investor, while Lone Star Project Advisors served as consultant.

The investment will help speed up recovery in the community by creating stable, well-paying jobs and supporting local economic growth.

After Hurricane Michael hit in 2018, the Florida Panhandle suffered severe damage, with thousands of people displaced, 5,500 jobs lost, and about $38 billion in economic losses. Millions of acres of timberland were destroyed, hurting the region’s timber and paper mill industries that supported local agriculture.

Since then, the community has faced challenges in attracting new industries to rebuild the economy, creating a strong need for more sustainable and modern manufacturing opportunities.

PackEx USA is redeveloping a 256,000-square-foot industrial facility that was previously a water bottling plant before it shut down after Hurricane Michael.

The first phase of the project will add two production lines and create about 300 full-time jobs. Two future expansion phases are expected to add four more production lines and support more than 600 employees, bringing needed job opportunities to the community.

Read More:Cohen & Steers Appoints Amit Muni as Chief Financial Officer

"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, "said Mahmoud Amrouch, Chairman of PackEx."

"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, "said Dan Helgeson, CEO of Rural Development Partners."

Rural Development Partners LLC

Founded in 2004, Rural Development Partners is a Community Development Entity that provides Federal New Markets Tax Credit financing across the United States. Between 2004 and 2025, the organization received 14 NMTC awards totaling more than $906 million from the US Treasury. Its funding has supported 58 businesses and nonprofits, helping create jobs, boost local economies and improve access to healthy food in underserved rural communities.

PackEx USA 

Founded in 2025, PackEx USA provides premium all aluminum bottling, and filling solutions for the beverage industry. Based in Marianna, the company uses advanced technology, and flexible production processes to support a wide range of beverage brands across the United States.

Read More:Newmark Appoints Kyle Lutnick as Chief Strategy Officer