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 of the facility has created over 669 temporary construction jobs and 273 permanent jobs in an area with a local poverty rate of 27 percent. The facility was completed in 2013 and is expected to generate more than $37 million annually in revenue from the sale of wood pellets, increasing business for local timber and trucking companies.
114 direct jobs
159 indirect jobs created through the economic impact of the project
669 construction jobs