Creating 254 Jobs in Somerset, Kentucky
In 2020, Team Modern Distributors Inc. embarked on a $13.75 million expansion project with the support of a $5 million commitment from the New Markets Tax Credit (NMTC) program, part of an $8,289,473 total NMTC commitment. U.S. Bank served as the key investor in this significant initiative, which aimed to enhance Modern Distributors’ capabilities and impact within the food service industry.
Modern Distributors, a dynamic provider of food service solutions to convenience stores and vending machines, took this opportunity to grow their operations and facilities. The project not only strengthened their business infrastructure but also contributed to the local economy. A total of 254 full-time equivalent jobs were created, including 83 construction-related roles. Additionally, the expansion became a vital part of a broader local initiative focused on job creation, with a particular emphasis on providing employment opportunities for inmates, helping them reintegrate into society.
This project highlights the collaborative efforts between the private sector and community initiatives to foster economic growth and development in Somerset, Kentucky.
