Weidmann Technologies has received a $15 million New Markets Tax Credit (NMTC) allocation from Evernorth Rural Ventures (ERV) to expand its manufacturing and technology plant in St. Johnsbury, Vermont. This project represents Weidmann’s largest global investment this year and aims to strengthen U.S. energy infrastructure while enhancing local economic development.

The expansion includes a 21,500-square-foot addition to the existing components production building, a new 10,000-square-foot warehouse, and state-of-the-art equipment installations. The development will retain over 300 jobs, create 67 high-quality positions, and establish a Power Transformer Center of Excellence.

“This project is about more than expanding capacity—it’s about building a world-class Center of Excellence, supporting the Vermont community, and ensuring energy security for generations to come,” said Bill Stimpson, General Manager of the St. Johnsbury facility.

The NMTC funding, managed by Deb Favreau, Program Director for Evernorth’s New Markets Tax Credit initiative, highlights the importance of economic and social advancement in underserved communities. “Weidmann embeds opportunity for employee advancement at every level within the company, making it a particularly worthwhile use of NMTC investment dollars,” Favreau noted.

Weidmann has been a key employer in the St. Johnsbury region for over a decade, and this latest expansion underscores its commitment to both the local workforce and the nation’s energy security.

The project is also supported by regional partners, including Mascoma Bank, Mid-City Community CDE, U.S. Bancorp Impact Finance, and Massachusetts Housing Investment Corporation.