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Credit Boozman for Tax Credits (Feedback)

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TO THE EDITOR:

During tax reform, Sen. John Boozman proved his commitment to Arkansas small businesses by supporting the New Markets Tax Credit program. As a small business owner in Mountain View who has experienced success thanks to New Markets, I would like to publicly thank him for his work preserving this impactful program.

Excel Boats is the country’s premier aluminum boat manufacturer that caters to outdoor enthusiasts. When our business picked up in 2014 following the Great Recession, we faced a backlog of orders and needed working capital and increased inventory to pursue growth opportunities.

Fortunately, the NMTC program provided us the access to capital we needed. The NMTC investment allowed us to purchase new equipment, expand our product lines, ramp up production and build up inventory during our down season. We seized those growth opportunities and, since 2014, have grown our business by 30-plus new jobs. To this day, we have kept up with high demand and anticipate hiring another 15-plus employees this year. Further growth is on the horizon as we consider opening another expansion to our plant to increase our manufacturing capabilities and support 30 additional new jobs. None of this would have been possible without the NMTC program.

Glenn Foreman
CEO, Excel Boats
Mountain View

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