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MUSCODA, WISCONSIN — August 26, 2026
Mascoma Community Development (MCD) today announced the closing of $15 million in New Markets Tax Credits (NMTC) financing to support a major expansion and modernization of the manufacturing operations of Muscoda Protein Products, LLP, an affiliate of Meister Cheese Company, LLC, located in Muscoda, Wisconsin. The transaction will help finance a $100M+ multi‑phase investment designed to significantly increase cheese production capacity, support quality jobs, and strengthen the regional dairy supply chain in a rural, low‑income community.
“This project exemplifies how New Markets Tax Credits can catalyze transformative investment in rural manufacturing communities,” said Tad Atwell, Chief Operation Officer of Mascoma Community Development. “By supporting Muscoda Protein Products’ modernization, MCD is helping strengthen a century‑old, family‑owned business, preserve and create quality jobs, and reinforce a regional agricultural supply chain that is essential to Wisconsin’s rural economy.”
The project will include construction of a new high-capacity milk intake facility, expanded cold and dry storage, a new cheesemaking plant with advanced processing lines, upgrades to whey processing and evaporation systems, and expansion of on‑site wastewater treatment infrastructure. Collectively, these investments will nearly double Meister Cheese’s milk processing capacity and position the company to meet continued growth in demand from national foodservice, private‑label, and branded customers.
Founded in 1916, Meister Cheese Company is a fourth‑generation, family‑owned manufacturer and a long‑standing economic anchor in Muscoda. The expansion is expected to retain approximately 220 existing permanent jobs and create 29 new full‑time positions, the majority of which will be accessible to low‑income persons, while also supporting 188 family‑owned dairy farms that supply milk through cooperative agreements.
“We are grateful to Mascoma and Impact Seven for their support in providing both Federal and Wisconsin State New Markets Tax Credits. As we undertake the largest expansion in our company’s history, this financing provides flexible capital that will help us achieve our long-term strategic goal of increasing cheese production while continuing to strengthen our partnerships with local farmer, customers and community,” said Scott Meister, CEO.
U.S. Bank, through its community development and infrastructure finance division U.S. Bancorp Impact Finance, was the tax credit equity investor.
“Our New Markets Tax Credit investment in Muscoda Protein Products’ expansion and modernization project supports domestic manufacturing and reliable job creation in Wisconsin,” said Dan Blocher, senior vice president at U.S. Bancorp Impact Finance. “By helping bring capital to projects like this, we’re proud to support our clients as they strengthen local economies and expand opportunity.”
NMTC financing is a critical component of the project’s capital structure because the resulting flexible, below‑market financing enables Meister Cheese to undertake the expansion at its required scale and timeline, while maintaining long‑term competitiveness in a capital‑intensive, commodity‑driven industry.
MCD is pleased to report that this project makes possible an additional grant from MCD of $75,000 to CDFI (Community Development Financial Institution) partner Impact Seven, Incorporated, headquartered in Rice Lake, Wisconsin. This grant will support the establishment of an internal General Contracting function, which will grow Impact Seven’s capacity to develop and maintain affordable rental housing for Wisconsin’s low-income residents and communities, via the hiring of a qualified, experienced site supervisor position to be supervised by the construction manager. MCD takes great pride in supporting CDFI organizations that strengthen the communities they serve.
About Mascoma Community Development
MCD was awarded the NMTC Allocation by the Community Development Financial Institutions (CDFI) Fund of the U.S. Department of Treasury. Using its tax credit allocation, MCD seeks to provide low-cost, flexible funding to businesses throughout the United States and emphasizes creating and retaining quality jobs in highly distressed low-income communities nationwide.
About Mascoma Bank
Mascoma Bank is a $2.99B mutual community bank and Benefit Corporation serving Northern New England, with over a century of experience supporting local economies and the long-term vitality of the communities it serves. Mascoma Bank is a member of the Global Alliance for Banking on Values, a Certified B Corporation®, and a Member FDIC.
