$40 Million in New Markets Tax Credit Financing for Cold Storage Facility in Albertville, AL
UB Community Development (UBCD) has announced $40 million in New Markets Tax Credits to finance the construction of a temperature-controlled warehouse facility by PermaCold Logistics. The project includes building a 121,270-square-foot cold storage and refrigerated logistics center in Albertville's Industrial Park, supporting food producers and distributors across Northern Alabama’s poultry corridor. This investment is expected to strengthen regional supply chains, create up to 50 permanent jobs, and enhance infrastructure for local agriculture. It marks UBCD’s third NMTC project in the area since 2018, reflecting a broader commitment by United Bank and its subsidiaries to rural economic development across Alabama. UBCD has placed $57 million into six projects this year alone, supporting over $290 million of total capital investment. The company is part of United Bancorporation of Alabama (ticker: UBAB), which also operates Community Facilities Lending Program and the Community Housing Capital Fund.
Tickers: $UBAB
Topics: agriculture supply chain cold storage economic development NMTC financing