MBS Urban Initiatives CDE (MBS UI), has successfully closed financing to support the expansion of El Bolillo Bakery (EBB) into San Antonio, Texas.
MBS Urban Initiatives CDE (MBS UI), the Community Development Entity affiliate of McCormack Baron Salazar (MBS), has successfully closed financing to support the expansion of El Bolillo Bakery (EBB) into San Antonio, Texas. The investment will help finance a new wholesale production facility that will create quality jobs, strengthen the regional food supply chain, and spur economic activity in one of the city’s underserved neighborhoods.
This investment reflects our commitment to supporting businesses that create meaningful economic opportunity in underserved communities”
— Nicole Blumner of MBS Urban Initiatives
The transaction closed on July 1, 2026, utilizing the federal New Markets Tax Credit (NMTC) program to advance community and economic development.
The San Antonio facility represents El Bolillo Bakery’s first expansion outside of the Houston market and will serve as a regional hub for the production and distribution of authentic Mexican baked goods throughout South Texas.
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“This investment reflects our commitment to supporting businesses that create meaningful economic opportunity in underserved communities,” said Nicole Blumner of MBS Urban Initiatives. “El Bolillo Bakery’s expansion will bring quality jobs, workforce development opportunities, and long-term economic benefits to San Antonio while increasing access to affordable, culturally significant food products.”
The nearly 11,000-square-foot facility will be renovated and expanded to include wholesale production, cold storage, distribution operations, and on-site retail. The production facility will feature dedicated manufacturing lines and industrial equipment to produce pan dulce and savory breads, including bolillos, teleras, conchas, empanadas, tortillas, tamales, cakes, and other traditional baked goods. The retail component of the project will be financed separately.
The project is expected to create 83 new permanent full-time production and distribution jobs, with hiring focused on residents from the surrounding community, including individuals living in deeply distressed census tracts. All positions will offer livable wages, comprehensive benefits, structured on-the-job training, and clear opportunities for advancement. Positions will include baking, production, packaging, logistics, inventory management, quality control, facility maintenance, sanitation, and management.
El Bolillo Bakery has built a strong reputation in Houston not only for producing affordable, high-quality baked goods but also for its longstanding commitment to workforce development and community engagement. The company partners with schools, nonprofit organizations, and workforce agencies to create employment opportunities for individuals facing barriers to employment, including those without higher education credentials and second-chance workers. Those successful partnerships will serve as the foundation for similar hiring and training initiatives in San Antonio.
MBS Urban Initiatives has an established history of leveraging the New Markets Tax Credit program to support transformative community investments. This marks the organization’s first investment with El Bolillo Bakery.
For more than 50 years, McCormack Baron Salazar has partnered with communities across the country to advance equitable development and economic opportunity. Through MBS Urban Initiatives, the organization continues to deploy New Markets Tax Credit financing to projects that expand access to jobs, education, healthcare, healthy food, and other essential community resources.
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