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

Hamilton Home Builders

Hamilton,
AL
(2019)

Manufacturing

CDE(s): United Bank of Alabama

This project supported a company which assembles and produces manufactured homes for sale throughout the Southern U.S.

Westervelt Lumber

Thomasville,
AL
(2019)

Business Development, Manufacturing, Rural, Timber and Agriculture

CDE(s): Dakotas America, National New Markets Fund, Rural Development Partners, Truist

The $191.6 million facility will produce approximately 250 million board feet of pine lumber annually|taking advantage of the company’s nearby timberland and other facilities.

Thomasville Regional Medical Center

Thomasville,
AL
(2018)

Community, Healthcare, Hospitals and Emergency Services, Rural

CDE(s): Dudley Ventures, Hancock Whitney New Markets Fund, TruFund

Thomasville Regional Medical Center, LLC, in partnership with the City of Thomasville, constructed a $44.3 million, 68,320 sq. ft. new hospital in rural Thomasville, Alabama.

Talladega College Student Center

Talladega,
AL
(2018)

Adult Education, College or Vocational Training, Community, Grocery and Fresh Food, Healthcare, Retail, Retail and Commercial, Rural, Vocational Training

CDE(s): Southern Community Capital, United Bank of Alabama, United Fund Advisors

NMTCs Put Major Construction at Iconic Alabama College over the Top

Foley Grocer

Foley,
AL
(2018)

Grocery and Fresh Food, Retail, Retail and Commercial

CDE(s): PNC, United Bank of Alabama

The 5th phase in a 5-phase commercial development located at the Project site in Foley, AL.

Sweet Brew Tea

Loxley,
AL
(2018)

Business Development, Food Manufacturing, Manufacturing

CDE(s): United Bank of Alabama

Financing for a new Southern Visions facility located in Bay Minette, Alabama.

Coastal Alabama Community College – Bay Minette Campus

Bay Minette,
AL
(2018)

CDE(s): United Bank of Alabama, USBCDE

This LEED Certified project consists of a new 2-story, approximately 42,000 square feet detached educational & administration building for Faulkner State Community College (now Coastal Alabama Community College). This building

Athens Limestone Hospital Surgery Tower

Athens,
AL
(2018)

Community, Healthcare, Hospitals and Emergency Services, Rural

CDE(s): National Community Investment Fund, Rose Urban Green Fund, United Bank of Alabama, Wells Fargo

A surgery center expansion that focuses on lower-acuity, out-patient based surgeries.

Sterling Packaging

Monroeville,
AL
(2018)

Business Development, Manufacturing, Rural, Warehouse and Wholesale

CDE(s): United Bank of Alabama

The relocation of a Canadian based company to Alabama where it opened a packaging facility.

Abbeville Fiber Sawmill

Abbeyville,
AL
(2018)

Manufacturing, Timber and Agriculture

CDE(s): Truist, United Bank of Alabama, United Fund Advisors

After sitting vacant for more than a decade, the former WestPoint Stevens building in Abbeville is now buzzing with new life and 115 jobs after a $40 million transformation by

Waterfront Rescue Mission

Mobile,
AL
(2017)

Adult Education, Behavioral Health, College or Vocational Training, Community, Healthcare, Shelters and Community Food

CDE(s): Southern Community Capital

NMTC financing for the Waterfront Rescue Mission, a major expansion project.

Nemak

Sylacauga,
AL
(2017)

Auto Manufacturing, Business Development, Machine Shops and Metal Fabrication, Manufacturing, Rural

CDE(s): AMCREF Community Capital, Chase, MuniStrategies, Rural Development Partners

Installation of new equipment, tooling, production lines and manufacturing process and expansion of internal reconfiguration to converting facility from outdated technology to utilizing more efficient technology.

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