Westervelt Pellets

Aliceville,
AL
(2012)

Westervelt Pellets

Manufacturing

The NMTC helped the Westervelt Company to build a new wood pellet manufacturing facility in Aliceville, Ala.

Investment

NMTC Amount: $71,010,000
Total Project Cost: $71,010,000

IMPACT

275 FTE jobs
800 construction jobs

CDEs

CEI Capital Management, Rural Development Partners, Wells Fargo, WNC National Community Development Advisors

Investor

Wells Fargo

The project involved the financing for construction of a new wood pellet manufacturing facility. CEI Capital Management LLC was just one contributor of NMTC to the Aliceville, Ala. wood pellet manufacturing facility. Westervelt Company received $55.5 million in NMTC from WNC and Associates, Wells Fargo Bank N. A., Rural Development Partners and CEI. Wood pellets burn with a carbon footprint significantly less than that produced by burning coal, making it a sought-after renewable energy source.

Development of the $71-million facility creates 800 temporary construction jobs and 275 permanent jobs in an area that has a local poverty rate of 27 percent. Once completed, the facility generated more than $37 million annually in revenue from the sale of wood pellets and is projected to increase business for local timber and trucking companies. As part of a community benefits agreement, Westervelt Company reinvested $110,000 into the community for services such as employment training programs. The facility was completed in 2013.

MAP

Address: 677 AL-17, Aliceville, AL 35442

Census Tract: 1107050400

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