RDP/MagPro Partnership Brings Production and Jobs to America
Summary
FOREST CITY, Iowa, April 15, 2025 /PRNewswire/ -- Rural Development Partners (RDP) awarded $17.5 million in New Markets Tax Credit (NMTC) financing to MagPro, LLC, a Nonferrous Metal Production and Processing corporation located in Camden, Tennessee. Funding will enable the purchase of parts necessary to construct 5-7 vacuum furnaces, driving expansion and growth for the company while creating an additional 150 quality jobs in rural Benton County. Their ultimate goal within the next 10 years is to become the largest primary magnesium producer in the United States, bringing jobs to America and substantially decreasing U.S. industry dependence on imports. "RDP is proud to partner with MagPro on this very impactful project to enable them to strengthen their efforts in providing high-quality jobs in Camden and the surrounding area. 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.