Federal loan guarantee supports the consolidation of Ulven Companies and Columbia Marine & Rail under NW Manufacturing Group.
A $5.85 million federally backed loan will support the consolidation of two manufacturing companies under a Hubbard-based operation, a project the U.S. Department of Agriculture says will preserve approximately 75 jobs and create additional positions.
USDA Rural Development announced the loan guarantee Thursday, Sept. 3, for NW Manufacturing Group. The financing supports the acquisition and consolidation of Ulven Companies and Columbia Marine & Rail into a specialty metals and precision manufacturing platform operating out of Hubbard in Marion County.
The combined business will serve customers in defense, aerospace, industrial, maritime and utility markets, according to USDA.
For Marion County, the investment reinforces an existing manufacturing operation while keeping dozens of jobs tied to a sector that serves customers well beyond the region. USDA did not specify how many new positions are expected to be created.
Ulven Companies, headquartered in Hubbard, includes manufacturing businesses such as Ulven Forging, Skookum and Ulven Aerospace & Precision Solutions. The company recently announced that it is now part of NW Manufacturing Group.
Columbia Marine & Rail specializes in forging, machining and custom steel products used in marine, rail and industrial applications. The company currently lists its manufacturing facility in Washougal, Washington. USDA said the combined enterprise will operate out of Hubbard.
The $5.85 million is a loan guarantee rather than a federal grant or direct payment to the company. The financing is being provided with FFB Bank through USDA Rural Development’s Business and Industry Guaranteed Loan Program.
Under that program, USDA guarantees a portion of loans issued by private lenders to eligible rural businesses. The goal is to make financing more accessible for projects that create or preserve employment and support rural economies.
For Business and Industry loans of $5 million or more approved during fiscal year 2026, USDA says the federal guarantee generally covers 80% of the loan.
USDA Oregon State Director Jim Carmack said the Hubbard project is intended to strengthen Oregon’s precision manufacturing sector while protecting existing employment and creating opportunities for growth.
The federal announcement comes after Ulven Companies publicly confirmed its move into NW Manufacturing Group, describing the transaction as a new chapter for its Hubbard manufacturing businesses.
USDA has not announced a timetable for completing the broader consolidation or provided a specific number of new jobs expected beyond the approximately 75 positions it says will be preserved.
