NORTH CHARLESTOWN, NH -- GreenSource Fabrication will receive a $10 million new markets tax credit from local sources to support a new printed circuit board manufacturing facility located here.

The facility will house 98,000 sq. ft. of manufacturing space, including ISO 6 and ISO 7 clean room spaces for the production of ultra high-density interconnect PCBs.

The financing is being provided by Mascoma Community Development, a community development entity established by Mascoma Bank for job creation in highly distressed, low-income rural and minor-urban communities.

The new markets tax credit (NMTC) is a federal tax credit for qualified investments made in traditionally underserved, low-income communities.

“MCD is pleased to provide NMTC funding to support the GreenSource project and be part of Whelen’s expansion in New Hampshire while creating new jobs in our region and a rural community. This project also represents an opportunity to increase manufacturing in the United States by a company that prioritizes environmentally friendly practices,” said Michelle LeClair, chief investment officer of MCD.

The funds will go to expand GreenSource's campus here, which was founded in 2017. The fabricator expects to create 50 to 100 fulltime jobs, of which 84% will be accessible to those with no more than a high school diploma. Greensource currently employs 142 workers at the site.

Some $52 million in all is committed to the NMTC transaction. In addition to the NMTC financing, the project is being supported by an investment agreement with the US Department of Defense and through a lease from the New Hampshire Business Finance Authority that provides a construction allowance of up to $50 million.

“This facility represents a monumental investment in the future of American manufacturing,” said Ashish Jain, CEO, GreenSource Fabrication. “The support from the NMTC parties, NHBFA and the DoD underscores our shared vision for innovation, security and sustainability.”

GreenSource is installing a proprietary zero-liquid discharge system that will permit the company to undertake high-intensity water usage manufacturing with no loss of water from the system other than minimal evaporation. Through the closed-loop systems, the facility reuses each gallon of water 30-40 times, achieving an impressive environmental efficiency.

“The eco-friendly technologies integrated into the new facility are not only good for the environment but are essential to our long-term success and growth,” said Jain.

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