LOCATION: BELLOWS FALLS, VT
COST: $22.3 MILLION
SIZE: 52,200 SQ. FT.
TYPE: MANUFACTURING FACILITY
Founded in 1991, Chroma Technology is a leading manufacturer of optical filters and related products. As one of the largest employers in the severely distressed Rockingham area of Windham County, they had exceeded the capacity of their manufacturing facilities located on Imtec Drive in Bellows Falls, Vermont. This 25,502 square foot expansion of their facilities—including additional employee parking and the purchase of new equipment—allowed Chroma to remain in their present location, preserving 106 existing jobs and adding nearly 30 new jobs within five years of project completion.
To develop the project, Chroma partnered with Brattleboro Development Credit Corporation (BDCC), who retained M&S Development; together they managed the project through to completion. M&S took the lead on navigating the complex financing package, which included $9.4 MM in New Markets Tax Credits (NMTC) equity.