Alabama Data and Stories

State Fact Sheet

Map of Selected Projects in Alabama

Community Testimonials

“I am delighted to see the increased investment in the GMI Selma operation. The New Markets Tax Credit enhances the economic opportunity for many families and businesses in the area. The product from GMI also supports U.S.-based manufacturing for critical strategic materials which feed our nation’s supply chain for semi-conductors, solar energy products, military energy storage, as well as steel, aluminum and chemical.”

-Rep. Terry Sewell (D-AL)

Selected Projects in Alabama

Dadeville Pole Company

Dadeville,
AL
(2022)

Manufacturing

CDE(s): PB Community Impact Fund

UB Community Development, LLC (UBCD), a community development partner of United Bank, provided $7.5 million in New Markets Tax Credit funds for Dadeville Pole Company, LLC (DPC) to construct a

Precision Engineering

Mobile,
AL
(2021)

Manufacturing

CDE(s): Southern Community Capital

Precision Engineering, Inc., has positioned itself as a regional leader in the industrial automation field. Founded in 1994 and headquartered in Mobile, Alabama, PEI has registered professional engineers in Alabama,

Coastal Growers

Atmore,
AL
(2021)

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): MuniStrategies, National Impact Fund, Rural Development Partners, United Bank of Alabama, Waveland Community Development

A new 475,000-sq. ft. facility sources peanuts within a 200 mile radius from farms in Mississippi, Alabama, Georgia and Florida and creates 130 permanent jobs with training and career advancement

Woodlawn/I3 Academy Charter School

Birmingham,
AL
(2020)

Behavioral Health, Community, Dental Services, Healthcare, Schools

CDE(s): Raza Development Fund

The rehabilitation and new construction of a public charter elementary school.

Escambia Peanut

Flomaton,
AL
(2020)

Business Development, Food Manufacturing, Manufacturing, Rural

CDE(s): United Bank of Alabama

A Flomaton-based peanut warehousing facility received $11.6 million in NMTC funds to consolidate ownership among its family farmer members.

Barton Hall

Mobile,
AL
(2020)

Community, Schools

CDE(s): United Bank of Alabama

Renovation of the historic Barton Academy Building into an internationally focused, public school within the Mobile County Public School System.

Grooms Aluminum

Ashville,
AL
(2020)

Business Development, Machine Shops and Metal Fabrication, Manufacturing

CDE(s): Advantage Capital

The project was for the purchase of a large piece of equipment and the construction of real estate needed to house the new equiment.

Community Foundation of South Alabama

Mobile,
AL
(2020)

Community

CDE(s): United Bank of Alabama

Construction of a 6,919 sq. ft. office facility that provides convening space for agencies, businesses, and community leaders to meet and address issues.

Center for Food Education

Birmingham,
AL
(2020)

Adult Education, College or Vocational Training, Community, Food Manufacturing, Manufacturing, Vocational Training

CDE(s): Hope Enterprise, TruFund

Financing for a multi-use facility that anchors Jones ValleyTeaching Farm and creates an inviting permanent infrastructure that will reach more students, teachers, and surrounding community members—locally, regionally, and nationally.

Colormasters/Master Extrusion

Albertville,
AL
(2020)

Business Development, Manufacturing, Rural

CDE(s): PNC, United Bank of Alabama

Purchase and installation of new equipment for the expansion of a manufacturing operation in rural Albertville, AL.

Monroeville Downtown Historic Restorations

Monroeville,
AL
(2019)

Historic Rehabilitation, Mixed-use, Rural

CDE(s): United Bank of Alabama

This project involves the acquisition and rehabilitation of multiple commercial buildings in downtown Monroeville, AL. The project brought a big boost to Monroeville's downtown corridor.

Auburn Research Park

Auburn,
AL
(2019)

Adult Education, Business Development, College or Vocational Training, Community, Daycare and Early Childhood, Incubator, Mixed-use, Nonprofit Hub, Research, Youth and Families

CDE(s): Truist, United Bank of Alabama

NMTC equity helped fund the construction of a 105,000-sq. ft. office building at Auburn University in Alabama.

Site visits and recent news related to Alabama NMTC Projects

Rep. Sewell, colleagues introduce bipartisan New Markets Tax Credit Extension Act

April 11, 2023

UB Community Development Announces $13.5 Million in New Markets Tax Credit Funds to Globe Metallurgical, Inc.

January 31, 2023

$300,000 grant paves way for Mar-Jac Poultry expansion in northwest Alabama

July 30, 2017