UB Community Development finances Albertville cold storage facility with $10 Million

UB Community Development (UBCD) has provided $10 million in New Markets Tax Credit (NMTC) financing for PermaCold Logistics' new cold storage facility in Albertville, Alabama. The facility is set to support regional food supply chains and is expected to create over 50 permanent jobs.

The new 121,270-square-foot facility in the Albertville Industrial Park will significantly enhance the efficiency of Northern Alabama's food production and distribution network. The region is one of Alabama's most active poultry production corridors, and this investment will strengthen the supply chain close to major production and processing operations.

Alex Jones, President of UB Community Development, stated that the NMTC financing aligns with the organization's mission to support economic development in rural areas. He also highlighted that supporting agriculture-focused businesses is consistent with United Bank's long history of rural financing.

PermaCold Logistics offers third-party cold chain logistics and temperature-controlled storage services. The new Albertville facility marks UBCD's third NMTC project involvement locally. UBCD has previously supported Albertville businesses with the development of manufacturing and rail infrastructure, among other projects.