$16M NMTC Investment Revitalizes Jobs and Housing in Roswell, NM

A new modular housing manufacturing facility in Roswell, New Mexico, is set to bring both economic and social impact to the region—supported by $16 million in New Markets Tax Credit (NMTC) allocation.

The 420,000-square-foot redevelopment will transform a long-vacant industrial site into a modern manufacturing hub producing system-built homes and multifamily residences for low-income and rural communities across the Southwest.

Located in a census tract with a poverty rate of 29.8% and a median family income just 63.77% of the area median income (AMI), the project represents a significant private investment in one of southeastern New Mexico’s most distressed regions. The site sits along Roswell’s public transit system with a dedicated bus stop at the property, ensuring accessibility for workers and residents alike.

Through NMTC financing, the project leverages private capital to advance regional revitalization and strengthen the manufacturing base that supports affordable housing development in rural communities.

The modular manufacturing operation is expected to create 330 full-time equivalent (FTE) jobs. Of these positions, 93% will be accessible to low-income individuals, and 87% will qualify as quality jobs—providing wages equal to 107% of Chaves County’s living wage along with full medical, dental, vision, and life insurance benefits.

The company will collaborate with a local university to provide workforce training and educational programs designed to equip employees with technical and career advancement skills, ensuring that job growth aligns with long-term community development.

The New Mexico Economic Development Department (EDD) has committed funding to support job creation associated with the project. Additional assistance from the Roswell-Chaves County Economic Development Corporation (EDC) and the City of Roswell underscores broad community alignment around revitalization, workforce development, and regional investment goals.

The modular construction model integrates innovation and efficiency to deliver cost-effective, high-quality housing options:

• Speed: Controlled production shortens build times and accelerates delivery.

• Cost Efficiency: Factory-based manufacturing reduces labor and materials costs.

• Quality Control: Indoor construction ensures precision and consistency.

• Sustainability: Resource management minimizes waste and supports energy-efficient design.

• Design Flexibility: Homebuyers can choose from diverse floor plans and styles while maintaining affordability.

By combining efficiency, workforce opportunity, and public-private collaboration, this project reflects the transformative potential of the New Markets Tax Credit program to bring investment, jobs, and sustainable housing to underserved areas.

This Roswell project exemplifies how NMTC-supported investments can catalyze local economic growth while addressing housing affordability and workforce needs. Through collaboration among CDEs, investors, and local partners, Impact Marketplace continues to connect high-impact projects with the NMTC resources that help them succeed.

Impact Marketplace helps community-focused projects secure the NMTC allocations they need to move forward. If your organization is pursuing a project in a low-income or rural area, our team can help determine eligibility and connect you with the right financing partners.
 

👉 Contact Impact Marketplace to start the conversation.