Atmore, AL – Rural Development Partners allocated $15 million in New Markets Tax Credits to farmer-owned Coastal Growers LLC for the construction of a new peanut shelling facility in Atmore, Alabama. This investment mitigated farmer risk, created jobs, and induced catalytic economic opportunities in a great community. The new operation created 130 quality jobs at the plant, 125 new …
Westervelt Lumber
Thomasville, AL – 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. The new mill created 125 permanent full-time jobs in a census tract with an unemployment rate of 21.8% and poverty rate of 20.5%. Workers earn over 207% of the average living wage …
Nemak
Sylacauga, AL – RDP invested $20 million in NMTCs to help Nemak expand and preserve its manufacturing presence in Sylacauga, Alabama. It is difficult to overstate the importance of Nemak’s continued operation and success to the rural Sylacauga, AL community. Nemak is the second largest manufacturer and employer in this rural highly distressed community, and had suffered from thousands of …
Westervelt Pellets
Aliceville, AL – Westervelt Company received $55.5 million in NMTC from WNC and Associates, Wells Fargo Bank N.A., Rural Development Partners and CEI for the Westervelt Pellet project to construct a $71 million wood pellet manufacturing facility. Wood pellets burn with a carbon footprint significantly less than that produced by burning coal, making it a sought-after renewable energy source. Development …
