SYLACAUGA, Ala., Aug. 12, 2025 /PRNewswire/ -- UB Community Development, LLC (UBCD), a community development partner of United Bank, is pleased to have closed on permanent financing with a $7 million New Markets Tax Credit (NMTC) allocation with East Alabama Rural Innovation and Training Hub (EARTH). The funds will be used to renovate an existing 125,000-square-foot structure into a community facility that will house the Sylacauga Alliance for Family Enhancement's (SAFE) administrative and programming offices, small business incubation space, and a performing arts and community events space.

EARTH's mission is to provide East Alabama with an efficient and effective workforce development system that will be responsive to current and future needs of individuals and businesses. Once the project is complete, SAFE expects to serve 11,000 individuals annually and create and retain 350 direct jobs. The campus will focus on preparing the workforce for jobs in healthcare, hospitality, transportation, manufacturing, technology, early education, alternative energy, and agriculture.

"In 2006, Avondale Mills closed its doors in Sylacauga and across Alabama, laying off over 4,000 employees. UBCD is focused upon bringing jobs back to former textile communities across the South.  Supporting EARTH and SAFE in this project is another step in the right direction to mitigate the impact of the offshoring of US manufacturing jobs," stated Alex Jones, President of UB Community Development.

NMTC financing for this project will help to achieve the region's goal of developing the workforce, providing training resources to businesses, and stimulating job creation. Through a coalition comprised of leaders from across the region and state, as well as the support received from the local community, the EARTH project will provide opportunities for training in aviation, cybersecurity, business incubation, and research and development. In addition, the project has been designated as Alabama's Region 2 STEM Ecosystem Network Hub by the Alabama STEM Council.

About UB Community Development

Headquartered in Atmore, AL, UB Community Development's strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama's premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing and more to positively affect growth in regional communities. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

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SOURCE United Bank Community Development