Working with U.S. Bancorp Community Development Corporation (USBCDC), Travois New Markets provided $17.3 million in New Markets Tax Credit financing for the Coastal Village Region Fund’s (CVRF) Goodnews Bay Regional Plant in Platinum, Alaska. Travois partnered with two CDEs (Waveland Community Development and NCB Capital Impact) for the nearly $41 million in total financing. This plant breaks a bottleneck that had kept regional fishermen from realizing their potential income for years. CVRF expertly balances the need to sustainably manage this world-class salmon fishery with its mandate to create new economic opportunities for the region. CVRF’s mission is to: “Provide the means for development of our communities by creating sensible, tangible and long-term opportunities that generate hope for all peple who want to fish and work.”
Watch a video of the plant operating below.
At a Glance
- Native Organization: Coastal Villages Region Fund
- Date Closed with Investor: 2009
- Date Completed: 2010
- Development Type: Business
- Project Status: Complete
- Total Investor Equity: $3,666,000
- Total Project Cost: $39,052,935
