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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