Featured in
The New Markets Tax Credit (NMTC) program is not just about economic development…it’s about truly making an impact on local communities.
That’s why Dakota Business Lending developed the Pay-It-Forward initiative.
With every NMTC project, DBL asks each borrower to donate a total of $50,000 to local non-profits or organizations of their choice to help maximize and spread the transformative power and economic impact of these investments.
Here’s a quick look at just a few of our NMTC Pay-It-Forward projects in action.
DakotaMB
Pioneering Agriculture Innovation
DakotaMB – a family-owned, nationwide manufacturer of custom-milled ingredients and whole grain blends – made a $50,000 donation to the Peltier Complex at North Dakota State University (NDSU) in Fargo, ND.
This state-of-the-art facility will support a wide range of research, including food science, as well as the development of new agricultural products.
“We are very excited to invest in this project as it will help attract talent to Fargo in the space of agriculture, cereal science, meat science, milling, crop research, and many other ag related industries. Not only that, but this facility will draw companies from around the world to partner with NDSU and the Northern Crops Institute to develop new products, do research, and train their staff.”
NuTek Natural Ingredients
Empowering the Community
NuTek Natural Ingredients – a global supplier of clean label ingredient solutions – spread their $50,000 Pay-It-Forward donation to several organizations throughout the Fargo/Moorhead area with one key focus in mind: workforce development.
Supporting these three local entities (YMCA of Cass and Clay Counties, YWCA Cass Clay, and F5 Project) strengthens workforce diversity throughout the region, expands educational and employment opportunities, and has an immediate impact on communities in Cass and Clay Counties.
Packet Digital
Building Future Leaders
Packet Digital – a leader in smart batteries and power management systems for Unmanned Aircraft Systems (UAS) – made a $50,000 donation to support NDSU’s Engineering Program. The contribution will start an endowment fund to support the expansion of the school and development of the engineering curriculum.
The business saw this donation as an investment in the future, helping to build the next generation of leaders and fostering innovation and growth in the tech industry…starting right in Fargo, ND.
Marvin Composites
Strengthening Community Services
Marvin Composites, previously known as Tecton Products, is a window and door compositive material manufacturing company previously known as Tecton Products. The company utilized the NMTC program two times, leading to two separate $50,000 Pay-It-Forward donations to several local organizations.
Donation 1: FMWF Chamber’s CampusFM
Donation 2: Lake Agassiz Habitat for Humanity, New Life Center, the YMCA of Cass and Clay Counties, and YWCA Cass Clay
Superior Walls of North Dakota
Supporting Vulnerable Populations
Superior Walls of North Dakota – a precast foundation manufacturer – used their Pay-It-Forward creatively to support several causes important to their organization.
- Abused Adult Resource Center
- Rehabilitated Felon Internship
- At-Risk Youth Internship
The Abused Adult Resource Center assists victims of domestic violence and sexual assault. Superior Walls is also creating two internship programs available for convicted felons and at-risk youth and youth adults to support their workforce needs.
By The Numbers
To date, DBL’s Pay-It-Forward initiative has had the following impact:
7
businesses making donations into their local community
$350,000
total dollars donated
14
local non-profits/community organizations impacted
Dakota Business Lending looks forward to seeing the ways in which the NMTC program and Pay-It-Forward initiative continues to transform our local communities.
