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GRAPPONE RECEIVES $18 MILLION NEW MARKETS TAX CREDIT TO BUILD NEW FACILITY

AUTOMOTIVE COMPANY TO MOVE MAZDA DEALERSHIP TO CONCORD AND EXPAND EMPLOYEE
TRAINING, COMMUNITY OUTREACH EFFORTS

September 14, 2022
Jeff Feingold,
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The Grappone group of auto dealerships has received an $18 million New Markets
Tax Credit to help it build a new 25,800-square-foot home for its Mazda
dealership that will also include a training center and community meeting space.

The company received the credit through Mascoma Community Development to finance
acquisition of the site and construction of the building.

The company plans to relocate its current Mazda dealership in Bow to a site on
Manchester Street in Concord. The newly built facility will also include an
approximately 3,000-square-foot multi-purpose training center to support and
expand its employee and community development programs, including its
“Leadership Grappone 2.0” employee development program that offers workshops on
leadership development, communication and problem-solving skills.

The center is also designed to support community-focused initiatives by
providing meeting space at no cost to over a dozen local nonprofits
organizations, including Riverbend Community Mental Health, Dartmouth-Hitchcock
Youth Summit, NH Children’s Trust and the Center for Family Enterprise.
Additional space at the facility will also be used to accommodate automotive
technical training programs with Concord High School’s Regional Technical Center
and Nashua Community College.

“This project is the realization of 25 years of learning in the automotive
sector for me,” said Grappone CEO Amanda Osmer, an owner and one of five
directors of the company who’s also serving as principal on the project.
“Growing up in the business, I had ideas about how we could make doing business
with Grappone even better. The focus of our team has put into our company
culture and mission is a point of real pride for me, and the completion of the
Mazda building and training center will help bring our team’s service even
further into the communities we serve.”

According to Mascoma Community development, the new facility is projected to
create 35 new jobs and will allow for expansion of Grappone’s Ford dealership in
Bow.

“The Grappone project represents new construction located in a rural,
non-metropolitan community. We expect that this project may catalyze further
improvements to and revitalization of the Manchester Street corridor in
Concord,” said states Tad Atwell, Chief Operating Officer of MCD. MCD is a
community development entity established by Mascoma Bank that aims to create
impactful jobs in highly distressed, low-income rural and minor-urban
communities. It also targets downtown redevelopment projects which help
revitalize communities and provide necessary services to low-income community
members.

U.S. Bank is also helping to finance the project.

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