Nitrile glovemaker receives $58M to expand Texas facilities

Fort Worth, Texas-based Rhino Health, the only manufacturer of nitrile gloves in the United States, received $58 million to expand its facilities in south Fort Worth. The company received the funding from New Markets Tax Credit with capital from five community development entity leaders. 

Rhino Health is using the $58 million to pay for the cost of equipment and working capital for its $200 million expansion of the manufacturing plant at Majestic Fort Worth South Business Park, where it has also relocated its headquarters. 

"We are pleased to close on this important tax credit transaction that will allow us to fully build-out our Fort Worth expansion," Mark Lee, CEO of Rhino Health, said in a July 28 press release. 

The manufacturer will create 520 new jobs at the 400,000-square-foot lease facility and expects to produce 3 billion nitrile gloves per year.

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