Wells Fargo has provided $14.75 million in New Markets Tax Credit (NMTC) financing to Second Harvest Food Bank of Central Florida for the construction of a new food bank distribution center. The new 100,000 square foot facility is expected to provide more than $1.4 billion in food value for struggling families in Florida over the next two decades. The expanded capacity will allow Second Harvest to provide an excess of one million additional meals and nearly ten million pounds of fresh produce each year.
“Wells Fargo has been a supporter of Second Harvest Food Bank since 1999,” said Larisa Perry, regional president for Wells Fargo in Central Florida. “With more than 55,000 people in Central Florida receiving emergency food assistance weekly, there is a great need to provide an expanded new distribution center. This will give Second Harvest Food Bank the opportunity to increase its capacity and serve more individuals and families seeking assistance in Central Florida.”
The new facility will enable Second Harvest to create and expand important programs that provide food for struggling Florida families in federally-designated “food deserts”. The project will also include a community kitchen that will serve several important purposes including job training (100 graduates per year), meal production and social entrepreneurism.
“In any expansion of this magnitude, timing and financing are vital components,” said Dave Krepcho, president & CEO of Second Harvest Food Bank. “We are deeply grateful to a long list of capital campaign contributors and also to our partners at Wells Fargo for making sure we received the full benefit of new market tax credits for our project. These funds represent one of the key steps to making the new future of hunger relief a reality for this community.”
