UB Community Development Announces $42.5 Million in New Markets Tax Credit Funds to Enviva Pellets Epes Finance Company, LLC

UB Community Development, LLC (UBCD), a community development partner of United Bank, announced today the closing of a $42.5 million New Markets Tax Credit (NMTC) allocation to support the building of the world's largest wood pellet plant in Epes, Alabama. The new project will be located on the Tennessee-Tombigbee Waterway in Sumter County, Alabama.

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“We are truly honored to have been selected by VyStar to help make a bigger community impact for the people of Florida and Georgia who need it most,” said Chris Vukas, Director of NMTCs, Sunflower Development Group, LLC. “Their enthusiasm for community is contagious and securing additional federal resources will create new opportunities where the market-driven economy doesn’t work for low-income people and places.”