In October 2011, CDF provided $9.5 million in New Markets Tax Credit financing to Truong Enterprises to construct a 61,000 square foot cold storage industrial building for distribution and processing of ethnic and specialty produce.
Truong is a minority-owned business that caters to various ethnic communities in Chicago. The majority of its employees are recent immigrants or other ethnic minorities who have extensive knowledge of this market. Truong invests in its employees, promoting people through the ranks and providing associates with the opportunities to attend seminars and job-training programs that will allow them to advance. The expansion has allowed Truong to retain 45 jobs and create 18 new jobs at competitive wages with full benefits including vacation, personal leave, and comprehensive insurance.
The new facility is located at 2300 S. Halsted in the Pilsen neighborhood and incorporates several green features including a 10 percent green roof and 90 percent reflective “cool roof,” energy efficient lighting, high “R” value insulation, and a storm water containment structure that is 20 percent larger than required by ordinance.
The project held its grand opening event on September 29, 2012. In 2015, Truong started construction on an additional 20,000 square foot expansion of the facility, anticipated to create additional jobs and increase the company’s produce-handling capacity by 150% or more.