The expansion accommodates increased production capacity to meet growing product demand. As a result, Bensonwood will add approximately 15 jobs over the next three years. Bensonwood provides quality jobs, wages, and benefits for economic stability in New Hampshire and Vermont, where the area is experiencing high unemployment and out-migration.

Gap and Investment

Bensonwood needed to renovate and expand manufacturing facilities in Keene to increase production capacity to meet a growing demand for its products. Despite traditional financing, personal guarantees by the owners, and a Community Development Block Grant (CDBG), a significant gap existed for the purchase of new manufacturing equipment. The NMTC investment through Vermont Rural Ventures and Massachusetts Housing Investment Corporation afforded Bensonwood the ability to renovate and expand their manufacturing facility for increased production while also acquiring and installing new manufacturing equipment.

Project TypeBusiness Financing
Project SponsorMonadnock Economic Development Corporation
NMTC Investment$3.7 million
Short descriptionManufacturer renovation and expansion
Team: BusinessBenson Woodworking and Unity Building Technology
Team: LegalNolan Sheehan Patten LLP, Preti Flaherty, Jensen Baird Gardner & Henry
Team: AccountingCohnReznick LLP
Team: ArchitectCatlin + Petrovick
Team: Construction ManagerNorth Branch Construction
Financing PartnersTD Bank, NA, Massachusetts Housing Investment Corporation, Monadnock Economic Development Corporation, New Hampshire Business Financing Agency (NH BFA), New Hampshire Community Development Block Grant Program