MT. PLEASANT, TX — May 16, 2025 — Diamond C Trailers, a leading local manufacturer and 40 year community partner, has announced its decision to repay a $1.42 million forgivable loan to the Mt. Pleasant Economic Development Corporation (EDC) and to list the historic Madison Building for sale.
The Madison Building—originally the First Baptist Church in downtown Mt. Pleasant—was purchased by Diamond C in 2023 with bold plans to transform it into a hub for job creation, innovation, and expanded corporate offices. The project was partially supported by a forgivable loan from the EDC that required the creation of 70 new jobs at the site.
However, shortly after acquiring the property, Diamond C leadership discovered significant financial mismanagement and reporting issues within the company. As a result, the company paused its plans for the Madison Building and focused instead on re-stabilizing its operations and restoring accurate financial performance. The EDC provided a one year extension on required job creation performance in order to provide time for the company to get back on track.
“We faced hard truths, but in true Diamond C fashion, we dug our heels in and worked through them, step by step,” said Jeffery Crabb, CEO of Diamond C Trailers. “We invested last year in rebuilding our financial foundation, ensuring that we were operating with integrity and excellence, and in strengthening our team. 2024 was a very successful year that re-positioned the team for continued, strong, sustainable growth. However, through it all, the Madison building is no longer a part of our strategic growth plans.”
In alignment with its core value to “do the right thing, always,” Diamond C is repaying the full $1.42 million loan to the EDC.
“We’re grateful for the EDC’s understanding and partnership throughout this process and even more so for our very successful job creation partnership over the last several years,” said Crabb. “Although the Madison project will not move forward with Diamond C, we still believe in its potential to be something really special for Mt. Pleasant.”
The Madison Building is now officially listed for sale. Interested parties are encouraged to contact Kristen Davenport at 903-466-1398 for more information.
“Mt. Pleasant is our home. While this particular plan has changed, our commitment to our purpose of fueling the well-being, growth, and success of our team-members, our customers, and our community remains stronger than ever,” Crabb concluded. “We look forward to what’s next—for Diamond C and for our city!”
