AAON Announces New Markets Tax Credit for New Facility in Longview
October 28 2019 - 3:07PM
AAON, Inc. (NASDAQ: AAON), a leading manufacturer of heating and
cooling products, today announced a New Markets Tax Credit (NMTC)
allocation for its new facility expansion at the Longview, Texas
manufacturing plant. AAON received a $23.0 million NMTC
allocation for the project and secured low interest financing and
the potential for future debt forgiveness related to the expansion.
In August, AAON broke ground on a 195,000 square
foot building with an expected completion date of October 2020. The
building will be used for both coil warehouse storage and equipment
manufacturing operations. The NMTC program was created to stimulate
economic growth and increase the flow of capital to businesses and
low-income communities by providing a modest tax incentive to
private investors.
“The expansion of our Longview operation
provides opportunities for both AAON and the Longview community to
experience transformational economic growth. We are excited to
receive this NMTC and can’t wait to see future improvement and
impact it will have on the community,” said Gary Fields, President
of AAON.
About AAONAAON is engaged in the engineering,
manufacturing, marketing and sale of air conditioning and heating
equipment consisting of standard, semi-custom and custom rooftop
units, chillers, packaged outdoor mechanical rooms, air handling
units, condensing units, makeup air units, energy recovery units,
geothermal/water-source heat pumps, coils, and controls. Since the
founding of AAON in 1988, AAON has maintained a commitment to
design, develop, manufacture and deliver heating and cooling
products to perform beyond all expectations and demonstrate the
value of AAON to our customers. For more information, please visit
www.AAON.com.
Contact:Eric TaylorPhone: 918-583-2266Email:
marketing@aaon.com
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