Raison d’être: The New Markets Tax Credit and Commonwealth Dairy
By Caitlin Jones
1 min read
Tax Credit Advisor, December 2011: Commonwealth Dairy, a start-up operation in Brattleboro, Vt., is just the kind of business that the federal new markets tax credit was designed to spur, in just the location the program was meant to boost.
In operation for six months now, the newly constructed, $22 million, 38,500-square-foot facility produces yogurt for private-label brands sold in supermarkets and other retailers primarily east of the Mississippi, and sold under the company’s own brand name, Green Mountain Creamery, in Vermont and other parts of New England.
In addition to 65 employees, a sizable number of jobs in this small rural town, the company supports numerous local dairy farmers by buying their milk through a co-op, and supports other local businesses as well.
“We’re going full steam,” says Thomas Moffitt, president of Commonwealth Dairy. “We’re running night and day.” Read More…
