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NMTC: Marvin Composite’s Window of Opportunity

Apr 3, 2024

Marvin Composites (previously known as Tecton Products LLC) was founded in Fargo in 1990 as a partnership with Marvin, a nationwide, family-owned and led company whose roots began in Warroad, MN more than 112 years ago. The company has made it their purpose to create better ways of living through the building of windows and doors using composite materials.

With more than 30 years of innovation and growth under their belt, see how Marvin Composites has used their success to keep moving their legacy forward…starting right in their own community.

Leveraging Growth with NMTC 

The COVID-19 pandemic brought many challenges to businesses – Marvin Composites included. Despite these challenges, Marvin Composites also experienced remarkable growth due to the rising demand for windows and doors and began looking for ways to expand. It was then that the Greater Fargo Moorhead Economic Development Corporation (GMFEDC) introduced them to Dakota Business Lending and the New Markets Tax Credit (NMTC) program.

In 2022, the company used a $7.5 million NMTC allocation to construct a 150,000 square foot expansion to their existing Fargo location, allowing them to increase their product line capacities, upgrade and expand their tool and die equipment, and add office space. (Read more here!)

Second Time’s a Charm  

The expansion didn’t stop there! After Marvin Composites’ first NMTC allocation, demand and opportunities for growth continued to rise. The company decided to partner with Dakota Business Lending a second time and secure an additional $10 million NMTC allocation – this time to further upgrade and expand their equipment. The investment in equipment is essential to their business capacity and growth, allowing Marvin Composites to innovate and remain competitive in the market.

 “The NMTC allocations have allowed us to further expand our facilities, create numerous jobs, and deliver a tangible sign of commitment to the community. We couldn’t have grown the way we did without them.” -Tom Gohdes, General Manager – Marvin Composites

Marvin Composites qualified for NMTC financing due to its location in a qualifying, highly distressed, low-income area. Through the program, the company has been able to actively create more than 140 high-quality jobs in a variety of areas, including research and development, composite production, manufacturing, logistics, and distribution.

Being a Part of the Marvin Family   

As a family-owned and led company, Marvin Composites has a strong commitment to their mission and core values. Employees enjoy a complete benefit package with competitive wages and several opportunities for training and education.

In addition, Marvin Composites puts safety first and is certified under OSHA’s Voluntary Protection Program (VPP). This certification requires thorough onsite evaluation by safety and health professionals, strengthening Marvin Composites’ strong commitment to the health and safety of their team.

“At Marvin Composites, we take the safety of our employees extremely seriously…When you work with us, we want to make sure you leave work just as healthy as when you came in.” -Tom Gohdes, General Manager 

Spreading the Impact

Marvin Composites’ commitment to the Fargo/Moorhead area goes far beyond the growth and expansion of their company.

  1. In 2023, the company delivered a “pay-it-forward” donation to several local community organizations, including Lake Agassiz Habitat for Humanity, the New Life Center, the YMCA of Cass and Clay Counties, and YWCA Cass Clay. The concept is a unique part of Dakota Business Lending’s effort to maximize the impact of the NMTC program on the community and pass along direct financial assistance to others in need.

The NMTC program brings value to our community by helping companies like Marvin create good paying jobs within manufacturing, while allowing us to continue to grow and invest in our community along the way”. – Tom Gohdes, General Manager 

What’s Next for Marvin Composites?  

Fueled by community commitment, innovation, and employee well-being, and strengthened by the NMTC program, Marvin Composites looks ahead with excitement as their recent expansion brings the company to an even greater level. As they look forward to what comes next, one thing is for certain: Marvin Composites’ growth will be aimed towards furthering their commitment to the Fargo/Moorhead area – the community they’ve served for the past 30 years.    

Find out more about Marvin and Marvin Composites.

This article was written by Dakota Business Lending with permission from Marvin Composites and is not to be edited or redistributed without permission.