BBIF’s Investment in Perry, FL Supports Job Creation for the Community

BBIF NMTC Spotlight: Super-Pufft Snacks USA, Inc  

BBIF supports NMTC projects in areas facing economic challenges, prioritizing job creation, job quality, and job accessibility. These projects are evaluated based on their impact on the local community and alignment with community development priorities. Additionally, projects must demonstrate their ability to enhance the quality of life for current residents.

In the rural city of Perry, FL is Super-Pufft Snacks USA, Inc., a manufacturing facility for snack foods and supplies. This US-based facility is a subsidiary of the Canadian snacks corporation, which has been in operation for over 60 years with facilities in 30 different countries. Super-Pufft supplies products for major brands such as ALDI Inc., Wal-Mart, and PepsiCo. The company also manufactures products under its brands and private labels.  

Due to the closing of Snyder-Lance, a snack and chip production company, the residents of Perry experienced a devastating loss. The production company closing left 250 people unemployed. This recent spike in unemployment caused a tax burden to be placed on the residents and the community. Many residents began vacating the surrounding area since the community lacked quality employment opportunities.  

Super-Pufft aims to provide growth in this rural community. The manufacturing company’s $25 million equipment expansion project will allow the plant to be more efficient and provide a wider variety of products that can be produced. This increase in production is anticipated to provide 500 new full-time jobs over the life of the NMTC compliance period. These jobs directly connect to the Taylor County Economic Development Plan of bringing quality industrial jobs to the county. 

Financing for this project was made possible through investments from the federal New Market Tax Credit (NMTC) from BBIF, HSBC as well as Super-Pufft Snacks Corporation.  

About BBIF

Created in 1987, BBIF provides loan capital, financial technical assistance, and business development services to support business owners. As a mission-driven lender, BBIF helps businesses grow by offering capital solutions and specialized guidance tailored to their needs. BBIF is a CDFI (Community Development Financial Institution) and CDE (Community Development Enterprise) certified by the U.S. Department of the Treasury CDFI Fund. The organization is also a Community Advantage and Micro Loan lender certified by the U.S. Small Business Administration, a Money Smart for Small Business collaborator with the Federal Deposit Insurance Corporation (FDIC), and holds an AERIS rating of triple star, A.

Since its inception, BBIF has provided over 1,185 loans totaling $103.6 million and received over $200MM in New Markets Tax Credit (NMTC)  awards, for a leveraged impact of over $625 million in NMTC investments. These efforts have created/retained over 15,000 jobs, while maintaining a historical loan loss rate of 4.08%. Learn more at www.BBIF.com.